We cut our EBITDA estimates by 3-5% for FY26E/27E/28E, factoring in higher costs absorbed in Q3FY26. We expect revenue & EBITDA CAGR at ~14% & ~25% respectively over FY25-28E. We also downgrade our rating to HOLD with a revised target price of Rs 570 (based on 15x EV/EBITDA on...