Larsen & Toubro Infotech's (LTI) Q4FY21 revenue growth of 4.4% QoQ in CC was in-line with our forecast. EBIT margin of 19.4%, -125bps, was higher than our forecast. EPS of Rs31.2, +5.1%/+27.3% QoQ/YoY, was even bigger beat to our forecast. In Q4FY21, LTI has secured 2 large deals with net-new TCV of US$66 mn taking the FY21 TCV to a new-high of US$404 mn. It has added 2 more Fortune 500 client taking the total to 71. LTI confirmed that the deal-pipeline remains strong. It expects to remain in leaders quadrant as regards revenue growth in FY22. We factor Q4FY21 beat and increase our FY22/FY23 revenue (US$) forecast by...