11 December 2019 LTI hinted at ~30% improvement in the customer experience index and a strong increase in employee morale. While continuing with the current strategy, it productisation of services, (iii) people and (iv) capabilities. While productisation of services has been a strategy emphasized by a few larger competitors, we understand that the results so far have been mixed. Large/overall deal pipeline is stronger than a year ago by 20%/42%. New logos now comprise 60%/35% of the large/overall deal pipeline (v/s 32%/19% a year ago). However, the share of new-age deals in the pipeline has moderated to 37% (v/s 43% a year ago). We note that 67%/49% of the large/overall deal pipeline is in the proposal stage. LTI indicated that reskilling of ~50% of workforce was completed over the last strengthening through platforms (e.g. Temenos PFS, Private Eye), (ii) building new (e.g. AI, ML), (iii) modernizing traditional (e.g.