13 July 2019 INFO raised the lower end/upper end of its full-year revenue guidance by INFO has started FY20 on a strong note, with constant currency (CC) revenue INR38b. core segments of Financial Services, Communications, Energy/Utilities/Resources, Manufacturing and Hi-tech) delivering double-digit YoY CC growth. 100bp/50bp, taking the full-year revenue growth guidance to 8.5%-10% CC. It is uncharacteristic of INFO to revisit its guidance for the better as early as in 1Q. We believe that this reflects healthy visibility at least for the near term, which should help it deliver double-digit growth for the fiscal. EBIT margin guidance band was maintained at 21-23% (100bp lower YoY). INFO revised its capital allocation policy it will now return to shareholders 85% of cumulative FCF over a five-year period (up from current 70%). INFO reported total contract value (TCV) of deal wins worth USD2.7b for 1QFY20, its highest ever. Net new deals TCV stood at 55%.