Maintain BUY with a TP of Rs 360/sh. SEL reported robust 1QFY18 financial performance with RPAT beat of 31%, led by strong revenue growth in transportation segment (47% YoY). Revenue is expected to ramp up further, as execution of three (out of seven) HAM projects has begun, one more projects will start contributing from 2QFY18E and the balance three by 3QFY18E.