Maintain BUY on Mindtree with TP of Rs 1,115, at 22x FY20E-EPS. Mindtree posted robust revenue and lower operating performance. Revenue came at USD 242mn, 6.8/20.7% QoQ/YoY supported by growth in Digital (47.5% of rev), which grew 12.6/35.5% QoQ/YoY. EBITDA% stood at 14.1%, -200bps QoQ impacted by wage increase (-270bps QoQ) and higher SG&A; (visa cost and higher CSR).