Maintain NEUTRAL with TP of Rs 3,135, 19x FY20E. TCS posted growth acceleration while operating performance came in-line. Revenue came at USD 4,972mn, 3.9/11.7% QoQ/YoY led by 2.0/7.2% CC growth. FY18 revenue growth was 6.7% YoY CC (INFY at 5.8% YoY CC). EBIT margin came at 25.4%, +22bps QoQ and APAT came at Rs 69.25bn, 5.8/4.6% QoQ/YoY. Growth was led by digital (23.8% of rev) with 11.9% QoQ and legacy grew 1.6% QoQ.