We maintain our positive view, owing to Zenzar's Digital/SMAC capabilities (~75% of the existing clients are engaged Digitally) and robust deal TCV. We build in 7/18% revenue/EPS CAGR over FY17-19E. Maintain a BUY with a TP of Rs 950 based on 13x FY19 EPS. Zensar delivered decent numbers in 1QFY18. Revenue stood at USD 114.3mn (+3.1%, +2.5% CC), growth was led by IMS recovery (+2.5% QoQ) and the full quarter impact of Keystones acquisition (USD 4.8mn). Organic growth ex-Keystone stood at -1.3% QoQ, led by pain in manufacturing (-4.9% QoQ) and softness in Professional Access (Oracle ATG). Digital (36.3% of revenue, +8.8% QoQ) remains Zensars key strength. Deals TCV remains robust at USD 800mn, with more than 50% of the new deal wins in Digital.