Amid a challenging macroeconomic environment and sustained pressure on discretionary spending, BSOFT reported muted performance; however, an encouraging uptick in deal TCV to USD 236mn (+4% QoQ) from Q3FY25, coupled with management guidance indicating sustained momentum, is expected to deliver growth from Q2FY26. Despite management's optimistic outlook of FY26 surpassing FY25, near-term headwinds lead to softness from furloughs and project ramp-downs in Q1, along with typical seasonality in H2 which are likely to temper the overall performance. While the company remains committed to...