It is combination multiple factors, such as operating leverage kicks in, fixed cost such as employee expresnes getting observed by higher revenue recognition, new vertical such as Brand management and SAAS are higher margin business which are growing and becoming bigger share of the pie. Interest Cuts are expected this year, which leads to low interest cost expense.
So basically they have guided for 2.5Billion(20K crore rupees) dollar revenue and margin of 5% PAT by 2027, that’s the basis for 1000cr PAT, and also so far the management has been walking the talk, about first half of prev FY being drag down, then the flat/recovery at the second half. Investing in business and talent while the industry was not buoyant. I liked these qualities in them
Them being a Platform business augur well for the shareholders IMO.