Maintain BUY with TP of Rs 1,720, 20x FY20E. L&T; Infotech (LTI) delivered strong quarter with rev at USD 309mn, 4.5/18.7% QoQ/YoY CC with FY18 revenue growth at 14.7% CC. While the growth in 4Q was BFS-led (~60% of incremental growth), FY18 performance was more balanced across verticals. EBITDA% came at 17.7% (adj for one-time settlement exp of Rs 617mn), +61bps QoQ supported by higher offshore-mix. APAT stood at Rs 3.38bn, 19.5/32.8% QoQ/YoY.