Maintain BUY with TP of Rs 1,415, 18x FY20E-EPS. Infosys (INFY) delivered in-line rev and operating performance and recorded robust large deal bookings. Revenue came at USD 2,831mn, 0.9/6.8% QoQ/YoY based on 2.3/6.0% CC, and maintained its FY19 rev guidance of 6 to 8% CC YoY. EBIT% stood at 23.7%, -101bps QoQ impacted by wage increase of ~85% of employees, higher sub-contracting expense & G&A; spend (onsite expansion).