We lower FY17/18E earnings by 17/11% and expect US$ revenue/EPS CAGR at 10/4% over FY16-19E factoring EBITDA% at 13.3/14.6/15.2%; Maintain SELL on Mindtree with TP of Rs 400 at 12x Sep-18 EPS, at CMP Mindtree trades at 15x FY18E.