We raise our revenue estimates by 0.8%/2.7%/4.7% for FY27E/FY28E/FY29E, factoring in CareSeed consolidation and sustained revenue momentum. However, we revise our EPS estimates by -6.7%/-1.8%/+1.8% for FY27E/FY28E/FY29E to incorporate the ~120bps FY27 wage-related margin headwind. While near-term margins may remain under pressure, CareSeed enhances the company's quality and care-management capabilities while expanding its mid-market client base. We maintain our BUY rating with a revised TP of Rs 58 (earlier Rs 61). At 17.1x FY27E EPS, valuations remain attractive with scope for re-rating. We remain positive on...