One Point One Solutions (NSE:ONEPOINT) Q2 2026 Earnings Call

0:00 Good evening, ladies and gentlemen. I'm Akash, moderator for the conference call. Welcome to ONEPOINT ONE Solutions Limited Q2 FY 'twenty seven Earnings Conference Call. As a reminder, all participants will be in listen only mode. And there will be an opportunity for you to ask questions after the presentation concludes. Please note this conference is being recorded. I would now like to hand over the floor to Mr. Sashank Ganesh from Thank you and over to you. Thank you very much. Good evening to all the participants in the call. Before we proceed to the call, let me remind you that the discussion may contain forward looking statements that may involve known or unknown risks, uncertainties and other factors. Therefore, it must be viewed in conjunction with the business risks that could cause further results, performance or achievements that differ from what is expressed or implied.

0:51 To take us through the results and answer your questions today, we have the senior management of One Point represented by Mr. Akash Kwane, Hold Time Director and Chief Executive Officer, Global Business Mr. Rajiv Desai, Co Founder, ResellX and Mr. Sunil Kumarja, Chief Financial Officer. We will start the call with a brief overview of the past quarter by the management followed by a Q and A session. We would appreciate your cooperation in investing in yourself as two questions to allow participants an opportunity to interact. If you have any further questions, you may join the queue and we'll be happy to respond to them if time permits. With that, I would like to hand over the call to Mr. Kane. Over to you, Akash. Thank you, Sashant. Good evening, everyone, and thank you for joining ONEPOINT ONE Solutions' quarter two and H1 financial twenty seven earnings call. Q2 marks a strong step up in ONEPOINT ONE's growth trajectory, driven by accelerating organic growth across markets, high value multi year enterprise mandates and deeper customer penetration.

1:49 Growing customer confidence is translating into continuous renewals at improved margins with expanded engagements. We have a very strong and robust pipeline of multiyear opportunities across domestic and international markets, thereby strengthening revenue visibility and building more resilient growth engines for us. The focus is not just on scaling the business, but on delivering profitable growth with improved margins. Our priorities remain clear, accelerate organic growth, deepen customer relationships and expand AI adoption. New client additions are broadening our revenue base, while deeper engagements are enabling us to increase our wallet share and build upon our AI capabilities with our existing customer portfolio. Together, these drivers position us to scale profitably and improve our operating efficiency at all points of time.

2:35 In Q2 financial year twenty seven, revenues year on year 274.96 crores, up by about 10.5% sequentially. EBITDA increased to INR45.32 crores with a margin of 25.9%, while Patch stood at INR18.41 crore. We continue to deliver strong growth across key financial parameters, reflecting the momentum in our business. Mr. Sunil Kumar Jha, our CFO, will take you through the financial performance in great detail. I would like to focus more on the underlying business drivers powering this growth and how we continue to accelerate and bring in value creation. Our global human resource human services business brings together delivery capability, domain expertise and enterprise relationships across geographies.

3:24 Alongside Resolix developed by our subsidiary One Point One Technologies Labs Private Limited brings proprietary agentic AI orchestration and resolution as a service into enterprise workflows. This integrated proposition is reflected in the mandates secured during the quarter. We won a three year enterprise mandate with one of the world's largest security depositories, combining customer operations with omnichannel, CCaaS platform, CRM ticketing and email automation. In Costa Rica, NetComm secured a $10,800,000 deal with a full year contract with our National Training Institute representing about approximately $2,700,000 in annual revenue over the contract period. In India, we secured a INR39.32 crore customer experience center of excellence mandating from a leading power utility company, bringing in our operating capabilities together with Resellix to improve customer engagement, automate high volume processes and strengthening analytics led decision making.

4:21 We also secured a three year customer experience mandate with VRL Logistics. These wins span across financial infrastructure, government linked services, utilities, and logistics. This strengthens our presence in India and international markets. Beyond the immediate revenue opportunity, they deepen client relationships and create a position to expand our role across a wider range of workflows and lines of businesses. Our growth strategy is increasingly focused on expanding within existing accounts, taking on greater complexity, adding in new workflows and leveraging AI to drive productivity, responsiveness and better customer outcomes. This is a strategy we had earlier circulated and articulated, and now we are seeing it translate into the nature and breathe ourselves on the mandates that we are securing.

5:07 We are also accelerating AI adoption across our existing CX operations and deepening its integration into customer relationships. Resellix is a key enabler of its strategy. Our focus is on using AI not to just improve service delivery, but to create measurable customer value through greater efficiency, responsiveness, and accountability. Increasingly, AI is becoming more competitive differentiator, more competitive differentiator in enabling us to compete for a larger high value mandate by offering customers stronger outcomes and greater values rather than just competing on price alone. In addition to this, Clariva, an AI powered Samanadition tool that cuts across health care and insurance industry in North America has gained a good acceptance and traction in the last quarter. We are now processing over 100,000 records per month on record delivery with less than three days of output and accuracy as high as 99.7%.

5:59 Together, Resellix and Clariva demonstrate how our AI strategy strengthens on our competitive advantage in enterprise engagements while monetizing domain expertise through scalable technology led solutions. During the past quarter, ONEPOINT ONE Solutions received Silver Award at World Cups, the Business Awards twenty twenty six in Texas, USA, making our first global award and recognizing our contributions to automation and artificial intelligence. In addition, six of our leaders, including our chairman and managing director, Akshay Sabra, myself and mister Rajiv Desai, cofounder of Resilex, received individual honors across business leadership, technology, and other areas of excellence. We're also honored with the best use of AI, the use of AI award in the India CX Summit twenty twenty six, and these recognitions underscore the strength of our team and depth of our capabilities and growing confidence we are earning on the global stage.

6:55 As we scale across markets, deepen customer relationships and accelerate AI adoption, we are building a stronger, more profitable and increasingly differentiated business. The next phase of growth will be defined by sustained organic expansion, higher value engagements, stronger operating leverage and consistent improvement. Our ambition is clear to build a large, stronger and more valuable One Point One Solutions, one that turns growth into profitability and performs into lasting shareholder returns. With that, I hand over to Mr. Rajiv Desai, Co Founder of AzulX, to take you through performance, our platform, and expanding the enterprise adoption. Rajiv, all over to you. Thank you, Akash, and good evening to everyone who has joined the call. At Resellix, we are building a proprietary agent tech AI platform around a clear proposition, Resolution as a Service.

7:46 We go beyond stand alone bots and AI tools to orchestrate AI, workflows, enterprise systems, data, and human expertise into end to end business execution with accountability to measurable... For measurable outcomes. The opportunity is to move beyond selling AI tools to owning business outcomes by bridging the gap between software and service. Resolix is positioned to drive deeper enterprise adoption, unlock larger value engagement, and build a scalable outcome led AI business. In the five months since launch, Resalex has progressed to 14 deployments across seven enterprise clients. These deployments span across insurance, aviation, banking, automotive, and digital assets.

8:32 We are seeing adoption move beyond individual use cases with existing customers adding workflows and new deployments progressing into live enterprise environments. This breadth of adoption is an important validation of the platform and its ability to address different industry requirements. Omvia is demonstrating strong enterprise traction with the number of live agentic bots more than tripling over the last three months. Deployed with India's largest private sector life insurance company, the platform supports seven Indian languages with additional bots approved for rollout. Its integration with a third party collections platform will further extend its orchestration capabilities from customer onboarding and engagement to recovery workflows. This expansion within an existing enterprise account demonstrates the potential to, scale proven AI use cases, deepen customer relationships, and grow platform adoption through additional workflows.

9:28 Frequency is to demonstrating measurable impact in live operations. In the leading insurance deployment, it has enabled four times the voice audit coverage, 50% faster agent feedback, approximately 24% lower average handling time, and a 79 improvement in customer satisfaction. The deployment has also delivered lower hold times, fewer bottom quartile agents, and personalized coaching plans across the operations. These outcomes are helping establish a strong case for adoption by demonstrating improvements in both operational performance and customer experience. These results demonstrate that our solutions are already proven in live enterprise environments, delivering measurable outcomes and gaining traction across customer workflows. Building on this foundation, our strategy is to deepen deployments within existing accounts, replicate proven solutions across customers and sectors, and scale through reusable workflows and microservices.

10:24 This creates the opportunity to accelerate implementation, improve delivery economics, and strengthen operating leverage. We are also extending Resolix across the enterprise talent lifecycle through two new enablers. RightFit is an AI powered hiring solution that helps identify and assess candidates through role matching, structured voice interviews, and evidence backed scorecards. As part of our commitment to validate our solutions in live environments, Right Fit is already deployed within 1.1 solutions for mid management and senior leadership hiring. This gives us an internal proof point before taking the solution to a wider enterprise market. Next is our AI powered voice coaching and workforce readiness solution, combining realistic role plays, personalized feedback, and repeated practice to prepare employees for customer facing interactions.

11:15 Within its month of launch, Net secured approval for deployment within a leading insurance layer, demonstrating early enterprise traction and the potential to scale AI led workforce deployment in highly regulated environments. Together, these enablers extend the platform across most stages of the enterprise life cycle. RightFit supports hiring and assessment. Net supports training and readiness, provides assist during live interactions. Penpal supports customer facing communication, frequency measures con... Conversations, and identifies improvement opportunities, and Omviya orchestrates the customer journeys and workflows end to end. This connected model is central to our resolution as a service proposition. Commercially, we see three clear avenues to scale, deeper deployment within ex... Enterprises, replication of proven workflows across customers in the same sector, and expansion into additional workflows and functions.

12:08 Our advantage is that these products are built around real enterprise processes and not operating... And and operating challenges. We work with our customers to understand their workflows and constraints, prove solutions in live environments, and then build repeatable offerings. Resolix leadership is earning global recognition, reinforcing the credibility and execution strength behind the platform. Mister Akshay Chabra, founder of Resolix, and I were among the leaders honored at WorldCop's the best awards 2026 in Texas, USA for excellence in business leadership. This recognition strengthens Resolix group... Global enterprise positioning and validates the leaderships driving its ambition to scale a world class enterprise ready AI platform. Strong leadership, global credibility, and differentiated technology positions Resolix to scale and unlock long term well... Enterprise value.

13:06 Resolix has moved beyond platform deployment to demonstrate proven enterprise adoption. The next phase is to accelerate scale through deeper customer penetration, cross industry replication and expansion into higher value workflows. By converting proven AI capabilities into recurring revenue, stronger delivery economics and scalable margins, we aim to build a high growth profitable AI business that directly strengthens earnings quality and creates sustainable long term shareholder value. With that, I will hand over to our CFO, mister Sunil Kumar Jha, to take you through the financial performance. Sunil, over to you. Thank you, Ali, sir, and good evening, everyone. Let me take you through our financial performance for q two and h one of financial year twenty seven.

13:54 For q two of financial year twenty seven, on a consolidated basis, revenue from operations stood at $1.74.96 crores, representing growth of 147% year on year and 10.5% quarter on quarter. Performance was supported by organic growth, new account addition, program ramp up, cross selling within existing relationship, and sustained renewals with improved margin. The new win across domestic and international market also provide a broader base of future growth. EBITK stood at 45.32 crore compared with 39.38 crore in q one of financial year twenty seven, representing growth of 15.1% quarter on quarter and one zero eight point six year on year.

14:53 The consolidated EBIT margin for the quarter stood at 25.9%, an improvement of approximately 100 basis points sequentially. Sustain renewal at improved commercial terms, improving mileage there, and operating efficiency are supported margin quality. While we are... While we continue to invest in technology and capability that can support support growth over the medium medium medium term profit. Profit after tax excluded 18.41 crore compared with 16.31 crore in q two of financial twenty... Representing growth of 12.9% quarter on quarter and 56 year on year.

15:43 For h one financial year twenty seven, revenue from operation stood at $3.03... Triple 3.28 crore, representing growth of one thirty eight year on year. EBITDT stood at 84.69 crore, representing growth of 100% year on year. With an EBITDT margin of 25.4%, profit after tax stood at 34.72 crore, representing growth of 80% year on year. NetComm BCC remain an improvement part of our global platform. The USG 10,800,000 contract with Costa Rica training institute demonstrate the opportunity to leverage local delivery capability to secure large mandate and expand our presence in LatAm market.

16:33 Our focus remains on sustainable profitability growth with financial discipline. As revenue growth, our objective is to transfer that growth into healthy capital generation, maintain a comfortable balance sheet and continue investing in area where we see a clear long term opportunity. As AI deployment scale and their contribution become material to the consolidated business, we will provide appropriate visibility on the financial impact. To summarize, q two demonstrate that our strategy is translating into execution. We are accelerating organic growth through new multiyear mandate and account extension, depending customer relationship through renewal and cross selling, expanding AI through Resolix and Claravia, and extending value through sequential margin improvement, disciplined capital allocation and improved revenue on capital.

17:34 Our priority for the second half are straightforward, exclude the win, scale proven and AI deployment, and convert our pipeline into profitable growth. That is how we intended to turn the current momentum into do... Durable earning and sustainable long term shareholder value. Thank you. We are happy to take your question, Andre. Thank you. Thank you, sir. The first question comes from the line of Mr. Gautam Bafna from Wise Stone Research, LLP.

18:26 Please go ahead, sir. Sir, my question is regarding outlook and guidance for H2 considering the fact that we have done extremely well in Q1 and Q2. Am I audible? I think the outlook is very clear. Yes, you are audible. I'll take this question for you. The outlook is very clear. We've been actively working on all the pursuits for over a period of time. Our Resolix, along with our capabilities to value creation, continues to do so. And you've seen the last quarter, we secured some good considerable wins for us to really continue growing our revenue, and the same shall continue in the second half of the year as well. So it's pretty much the same strategy to try and keep the revenue growing, grow internally with the customers and see and try and see how we can bring more value addition to our existing customers and improve the portfolio.

19:21 So sir, if we, you know, want to, you know, convert into some numbers, you know, can you give, some broader range? Very difficult to give a number at this point of time. But all I can tell you is that we've got a promising start from the first two quarters, and we will try and continue to maintain the same, momentum for the remaining part of the year. Understood, sir. And secondly, sir, with respect to your, CWIP, there is, you know, like almost more than 80 of CWIP, which is there in our book. So can you throw some light on this? Yeah. Thank you. Thank you. Sir, we are actively working towards AI platform. So still the product under the development phase.

20:10 So we Mhmm. Have to require some more expenditure on that thing. So very soon, soon, we are kept going to generate revenue from that product. That in coming quarter, that can be capitalized maybe. Understood, sir. And, sir, what would be our guidance, with respect to CapEx for the current year as well as the next financial year? Sir, as we continue investing our tech... AI platform, so that we are incurring some other expenditure to our AI platform. Understood, sir. But, you know, if we need to quantify your, you know, CapEx requirement for the current financial year and, you know, for the time. Any exact number, but definitely we mentioned that that and what we are incurring currently.

21:00 Fine, sir. Mister Gautam, do you have any more questions, sir? Yeah. I have few more questions, but I'll join the, you know, question crew and, you know, ask those later. Thank you, sir. The next question comes from the line of mister Raghal, an individual investor. Please go ahead, sir. Hi, team. Thanks for the opportunity, and congrats on a great set of numbers. So, first, I wanted to understand if our products are sector agnostic, or do we specialize in operations for any particular segment? And, second question is how did we come about the solution of, you know, the Clavira, and how how did we go about training this model?

21:57 I'll take the first part of the question. So the platform that we build and the products that we build are industry agnostic. What we are doing is that we are deploying this in industries where there is a requirement, and we have received a client request to do so, which means we are building a center of excellence for this product for a particular line of business. And up until now, we have deployed this across aviation, automotive, life insurance, and banking and financial sector. So what will become is that these workflows that we have built will now become replicable across same businesses in that industry. And, eventually, we will start creating center of excellences across each of these products within each of these domains.

22:44 That's how we kind of save the cost of forward deployed engineering and, you know, burn money at the cost of not having a revenue generating that. That's what differentiates the rest of the AI players who are burning money or trying... You... On a forward deployed engineer without having a paying customer at the back of it. I'll take the next one for you on Clariva. Clariva is a product that primarily summarizes a large mass of documents. It could be at any level of... Or any stage of the entire document processing. It could be at an early stage, or it could be from a complete medical record summarization. Just to give you a little more context, we've been in this business for over close to two decades, and this work has been acting very manually. And large record retrieval and insurance companies have been using our services.

23:34 This requires a lot of expertise. It requires expertise like having doctors on board to really understand the entire case studies and activities. And now we've deployed our own agentic AI engine that can really try and cut short the time and process large volumes to be done with the highest level of accuracy, which is getting widely accepted across all the insurance and record label companies. There is some level of fine tuning that we need to do because every summarization with every company is a little different. But I think right now, as we see, there's a huge amount of progress, acceptance, and, the deployments are increasing by the quarter. Just to add to what Akash mentioned, we are using RLHF to, basically fine tune our models and get the desired accuracy.

24:25 Got it. Got it, team. Thank you so much. That was really helpful. I just have one more follow-up here. So what is the next geography that we are looking at if we want to enter? And do we have any acquisitions that we're looking at in the next one or two year horizon? We are definitely looking at for acquisitions, and they are currently on the way. We don't really have a horizon whether we'll have it closed in next three months, six months, or twelve months because it's a long process. But, yes, they are on our radar, and we are evaluating various companies to really see how it can really join us in this growing journey. As regards geographies and domains, right now, we are continuing to hold on to our North America as a focus and try to build on to the geography over here. But, the coming time just come, we'll see how how the plan changes. But as of now, the focus is purely on North America. I'm trying to make sure that we improve our customers, improve our portfolio, and drive more and more efficiency to our value added products like Resolix and Claribra into the market.

25:39 Got it. Thank you so much. That's it from me. All the best. Thank you, sir. The next question comes from the line of Mr. Nachiketa Kali, individual investor. Please go, sir. Yes. Hi. Good evening to the management team. Congratulations on the recent award win and great execution track record is building up. So my first question was around this subsidiary wherein we have increased stake. Can you just elaborate on what exactly has happened there? Yeah. So it's a great thing to explain.

26:24 Sir, basically, our subsidy, we have some... Given supply to them, and some out testing was there. So, presently, the company has no revenue like that. So... Hence, we require to convert that stick to equity. That auto setting has converted into equity of parent. Parent has increased its stake by converting this auto setting. Yeah. But, like, what is the rationale behind this? So rationale behind this.

27:14 Presently, company had a huge opportunity. So currently, in future days, the company has very bigger... The valuation comes in picture. So we want to increase our stake in that company. I'll just add to what Sudhir is currently saying. Today, in our industry, if you look at it, we are always seen as a player who is providing contact center solutions at a BPM level and also providing solutions from a AI perspective, and that's where the value creation happens. However, we are right now not restricting our growth from a contact center and the AI solution, but we are also increasing our services of AI individually and separately in a commoditized market.

28:00 Now this could be used with various GCCs. It could be used with various contact centers who are our competition. It could be used with any of your stand alone health care services. And to really try and provide them services, which is a stand alone from its own and improve our revenue contribution, bring value to the company, this has been spun off as a separate entity to try and get into the market and coupled along with our positioning to create a much larger enterprise value in the market here. Do I answer your question, sir? Yeah. So, from what I understand, there were some 28 crores of receivables and some 4 crore advance due from that company.

28:46 21 crore 4 crore advances. 25 crore and 20. Converting. Right. For 25 crores, let's say, let's say, combined is 25 crores. And for that 25 crores, we got an extra 2.75 percentage. So the valuation can be judged on that front. So, currently, we cannot disclose any valuation, but definitely very soon you got the news from market. The company has very bigger values than what we have valued. Okay. So just takes the pattern sometime. You got the news, but Development is coming...

29:33 Company. I think it's too premature right now to really get into evaluation or trying to make a comment on that. I would say stay tuned with us, see how we are progressing in the coming quarters, and we're happy to see your interest in terms of how we are going. So just stay along with us for some more time. Okay. And, what is this Omnicenter, customer experience which you mentioned? I couldn't understand. Can we elaborate on that? Sure. I can answer that. So omnichannel means today, a customer can interact with the brand across voice, email, chat, mobile, and any other medium that the brand selects to, put it out there for interacting with their end customers. Omnichannel experience physical element in what?

30:21 No. In the omnichannel experience, there is no physical, but it can be enabled for physical experience center visits as well because they will then get logged into the platform. So bringing everything together in a single means by omnichannel. Okay. Understood. So, Ravi, really great, to hear from you again. And congratulations on this, three year mandate also. So can we assume that, this is just the beginning of opening up a new revenue stream? Because this is a and, frankly, aligns very well with the resolution that the service which we are building up. Absolutely.

31:07 And your thought is aligned. What we are trying to do is we're trying to disrupt market by saying that we are not providing, you know, a single solution sort of an ecosystem, but what we are trying to do is provide an Multi dimensional in a way. Correct. Multi dimensional. So the the bug doesn't stop at just providing an answer to the question that is being asked, but actually driving it till the end outcome. So we are seeing very good traction with our customers wherever we are deploying this, and we're super excited in terms of how the the story over the next couple of years is going to pan out with increased number of, you know, resolutions coming in and being one of the first movers advantage for resolution as a service. Correct.

31:52 And could you just... Like, I went through the case study for the insurance company. Could you just give more detail on that front? Are we, like, getting more inbound queries from more insurance companies or the regulator? We were looking to get into the BEMA central ecosystem as well. So right now, we are only focusing on the front ending companies, which are available in the market. We have yet not, you know, do completely to kind of deepen the layer one more, you know, one more down. But we are looking to just replicate what we've already built because that's where scale and the revenue will pump up. So we are looking... Expanding into other insurance companies with similar resolutions that we are proposing for one of the companies that we've deployed it for.

32:44 Okay. And, you know, as this avenue expands, is there a operating leverage waiting to kick in so that the EBITDA margins widen further? Yes. There is. But it will need to kind of be at a scale at where the revenue margins are there for the parent organization. So, yes, you're absolutely right. But it is gonna be some time before it kind of kicks in because Maybe not at the consolidated level, but at least on on this one. Yes. At an individual level, definitely, the EBITDA mark should look better than what we are doing for BAU businesses. Okay. Understood, sir. I have one more question. I'll get back in the queue.

33:34 Sure. Thank you. Thank you so much, sir. The next question comes from the line of Mr. Raghur Sharma from Equador Capital. Please go ahead, Mister Raghosharma from Equator Capital, please go ahead with your question, sir. Hello? Hi. Can you hear me? Yes, sir. Hi. Okay. So thank you for having me here. I just have a couple of questions. So my question would be, how is your attraction for Resolix improved in this quarter? So we've given... You know, we've we've deployed this across 14 engagements across seven enterprise clients. We have a few in pipeline that are going live in this particular quarter, And we are expanding our footprint into multiple products from a single product. Right? So if there's Omnia deployed, we are now getting into deployment of frequency. If there's frequency deployed, we're getting into implementation of nets and rights and so on and so forth.

34:43 So we are looking at, you know, multiplying our deployments and adding more volume into the Resolix platform. There is a strong pipeline available for, you know, the upcoming entire year, and we are now going to be deploying all of these one after the other. Okay. That sounds good. Can you also tell me... Maybe just give us a little bit more information about what kind of work you'll be doing for all the deals you've announced recently? Sorry. What kind of work form? So you guys announced some deals recently. I just wanna know what kind of work you'll be doing for them. Okay.

35:31 On the VIN that we spoke about, is that what you're looking at? Yeah. That's right. I'm just trying to understand the question. So we we recently won a large utility com training institute from back in Costa Rica, which is very large over here in LatAm region. And that provides services from both voice chat and email services along with, agent tech AI solutions to them. So that's one last deal. We had another utility win back in India, which is, again, a very large utility company. That was pretty big. There, we are managing their customer experience center. We are managing their contact center, and we are also managing their entire CRM dialer and, agentic AI services across... Switching across all the platforms.

36:18 We also won a few more deals, one specifically on the logistics part. We won, on a on a renewal account, which was back in Costa Rica here for the LatAm region. And one more, VIN that we spoke about. Am I audible? Hello? Yeah. I'm audible. Yeah. And and the last or maybe maybe one of the most important ones that we that we currently, win over here is a small work on logistics. I spoke about logistics for sure. But, one more that we probably have a very large good win, which is on, on an ecommerce platform that is also doing jumping into the business here from the Columbia market. So these are some of the wins that we've currently been able to make, both in India and international market to really organically grow our revenues at this point of time.

37:17 Okay. Yeah. Thank you for that answer. Lastly Sure. I think you guys have been doing really well with AI. So will any of these AI led wins bring in some margin improvement over time? And, do you think that's also been a part of why certainly be. Yeah. Yeah. And do you also think that's why you've had you've had such good quarter over quarter? Yes. They will. Most... And in fact, all these deals are combined deal where we have got, AI as well as manpower work together, and that will certainly enhance our margins and also enhance our positions in the market today. Yes, quarter on quarter improvement is not only just to try and see we hold our position, but to strengthen our position and keep growing our revenues with our margin. So I think they're absolutely aligned on that.

38:10 Working your question is absolutely right here. Okay. Perfect. Great. Thank you for answering my questions. That's all. Thank you, sir. The next question comes from the line of Mr. Dasil Javeer from Crown Capital. Please go ahead with the question, sir. Hi. Good evening, sir. Thank you so much for taking my question, sir. Firstly, congratulations on a really great set of results as well as, you know, great order win, sir. Sir, I just wanted to know that we, you know, we've been growing our revenue. Like, we did more than doubling, I think, our revenue in the... In this h one, sir. So is the quarterly run rate that we are going sustainable? If you could, you know, help us with the outlook for that, sir.

39:00 Hello? Our quarterly run rates are in line. Hi. Can you hear me? I'll take this answer. Yeah. Yeah. Yeah. Can you hear me? Is my voice audible? Yeah. Yeah. Our quarterly, yeah, our quarterly run rates for the last two quarters have absolutely been sustainable, and they are in line with all our projections. And we clearly see this happening for the next two quarters as well. Please keep in mind that our business is not a is not a project based business. It's an annuity based business, and it's a month on month revenue generation. So, there isn't any chances of the revenues to really fluctuate in between the quarters. The only thing that will go up is probably it will go up, but will not come down because these are long term contracts. It's a three year contracts or five year contracts, which are stitched in. So that way, run rates are very stable quarter on quarter basis, and we're focusing to... Towards improving our organic revenues every quarter.

39:51 If that answers your question? Yeah. Yeah. That that... That's really helpful, sir. So I just wanted to understand with, you know, our capital work in progress. So are we gonna start depreciating it at some point of time? How would that, you know, work out, sir? Because we are investing so much. So if whatever we're investing on our, you know, product size, do we expense it out or capitalize it? How... What's the policy that we have for that, sir? Yeah. Just I'm answering your question. Sir, currently, the development the capital development under development phase, and the... They require some further expenditure, which we are incurring this quarter. And we are... Coming quarter, the development is completed completed.

40:39 And after that, the... What we are discussing are talking, we are also revenue. Once the revenue line is also digit digit... Visible, then the person will be charged. Currently, the product is under development. Okay. The product has not been launched, and the depreciation has not been charged. But if it gets launched maybe next quarter or next year, that's kind of, commensurately depreciation will come. Yeah. Yeah. Very soon, almost product is under completion state. So very soon, you should see everything will be in picture. Oh, that that that... That's great to know, sir. And, sir, if I can, sir sir, if you if you know, we've done a really great job in our revenue growth in this year. So next year, what... If you could give some guidance of revenue growth target if we have, sir. Yeah.

41:34 It's a very tough one that you're asking us right now. We would rather focus on this year at this point of time and stay tuned on our numbers. But, safely, we are looking at at least growing about 15%, 20% year on year from a from a strategy perspective. And if any acquisitions come by, then we'll see how the revenue multiplies in times to come. But that's the focus. We have a follow-up question from Mr. Gautam Bafna from Western Research LLP. Please go ahead, sir.

42:21 Sir, regarding the Resalex platform, you mentioned that, you know, we have done 14 deployments across seven clients. So that's, you know, very good start. So can you, you know, also tell us that what has been the revenue contribution, you know, from this particular platform during this quarter? And secondly, you know, how is it priced, you know, whether it's license based, transaction based, or outcome based? And thirdly, you know, how material it could be in, you know, next two to three years' time, sir? Sure. So I'll try and address all of those questions. So what we are doing is we are not charging our customers a platform fee or a license fee, and that strategy is very clear because of what we are seeing around in the market and learning from our peers. Right? So some of the CRM companies charge a platform fee or a license fee, attach themselves to the headcount which is available.

43:15 Mhmm. The people in the organization were using that particular platform. But with automation coming in, we are seeing 30, 40, 50% efficiency being driven, which means less number of people will be required to actually using that particular license. And hence, what we've done in Resolix is we've attached ourselves to the end customer journey outcome or resolution that we are providing, which means that if a customer reduces or enterprise reduces its team to manage by 50%, it may have another 50% growth in its customer base, and I am riding myself on saying, how am I solving the end customer's problem? So I've aligned myself to that extent, and, hence, there is no platform fee or, you know, license fee that we are charging.

44:02 What we are charging instead is a onetime integration and a deployment fee, and then we are charging them for consumption on the resolution provided, which creates a win win for both of us. For them, it means less initial, you know, cap... Capital expenditure or onetime cost and more depending upon how they grow their customer base. So as an example, if an insurance company today has, say, 1,000,000 customers, if they grow themselves to 2,000,000 customers, I grow along with them. Okay. Right? So that's the methodology that we've taken, based on learnings in the past from how, you know, software as a service is being sold in the market. And, you will see all of these companies who are selling a license fee and a platform fee fee are finding it difficult to sustain and maintain themselves.

44:51 Got it. And regarding, sir, revenue contribution from the... In the current quarter as well as, you know, in the years to come, you know, can you throw some light on that as well? Sure. What we're planning to do is in the upcoming quarters, we plan to segregate those revenues and provide a view in terms of what's happening across each of these products and Resolix as an entity. At this point in time, all of our entities are linked to parent entity in terms of billing, and hence, giving that discount at this point in time will not be feasible. Understood, sir. And secondly, sir, you mentioned, you know, about, you know, outcome based pricing for this particular platform. But is this also happening across our, you know, the the service areas, or is it limited to, you know, Resolux only?

45:43 We are only doing this for Resolux as a platform because we are able to drive that kind of efficiency into the ecosystem, which is proven. And hence, we are trying to disrupt the market and eat away from other competitor wallet share to increase our overall top line and numbers. Sure. So for rest of our business, we are doing transaction based pricing. Is that understanding correct? For rest of our business, it is T and M, which is time and material based pricing that is in in motion. Understood, sir. This is really helpful. Thanks for answering my questions. Thank you. Thank you, sir. The next question comes from the line of Mr. Arjun Tamil from Arabia Crest. Please go ahead, sir. Good evening, sir. First of all, congratulations on the great set of numbers. I joined a bit late on the call. So I'm sorry if I am asking a question that you have already answered. But on a year on year basis, our operating margin has fallen from 30.6% to 25.9.

46:49 So what is the main reason for that? From last two quarters, it should maintain 25%. So you you are... If you are comparing year on quarter and year is 30%, that's acquisition impact of the one month because in that year, we have taken one month of impact of equity... Our net sum acquisition. So that is less consideration. Okay. So you're saying that this impact is temporary. Right? Yeah. Yeah. It's like we just send one month. It's like that. Okay. As you have said that all our acquisitions are EPS accretive and margin accretive, so this would be a temporary impact.

47:38 Yeah. It's temporary temporary impact. And one more thing, if I'm asking you to repeat, but our short term borrowings have shot up from 11,000 crores to 5,400 crores. So our interest cost... Our short term borrowings have shot up from 1,100 crores to 5,400 crores. Am I right? No. No. No. Sir. No. No. Not 1,100 crores. Where do you have sent things? The consolidated balance sheet, the short term borrowings. Figure in lakhs, sir. In lakhs. Okay. So from 11 crores to 54 crores. Am I right?

48:25 Yeah. Yeah. Yeah. So So is our cost of debt on that? Cost of debt, you could talk about borrowing. Company had debt free company. The company has only taken one debt for the acquisition of NetComm business. The debt... It's supporting point seven five disbursement million has disbursed from one of the bank. That... And debt cost is around 9% like that. Okay. Around 9%. That's great. And our 2,000 crore guidance till FY thirty It's still intact? Sir, currently, are in financial twenty seven. So we've maintained... We can give... Go with financial twenty seven. Definitely, what we are thinking, we can go beyond that company. Beyond that. Okay.

49:18 Yeah. Organic Indian as well as Indian both are own. So stay with us. You'll see some bigger... Bigger milestone. Yes, sir. That's absolutely amazing. That's the kind of the management we are looking out for. And just one last question. What would be our ideal steady state margins on operating basis and on the net basis? I think the results are clearly showing a steady state margin for the last six months. How more can we say this as a number to you? I'll let us know. So... There were six data points that are showing a consistent numbers there for you.

50:04 Absolutely. Absolutely. Okay. That's all from my side. Happy Diwali. Sure. Happy Diwali to you. Thank you. Thank you, sir. Ladies and gentlemen, if you have any questions, please press star and one on your telephone keypad. There are no further questions, sir. Now I hand over the floor to the management for closing comments. We just want to wish everybody a very happy Diwali and keep looking forward for our next quarter results. And that's all. Thank you very much, everybody. Thank you, sir. Ladies and gentlemen, this concludes your conference for today. On behalf of ONEPOINT ONE Solutions Limited, we thank you for your participation and for using Doseva's conference call service.

50:55 You may disconnect your lines now. Thank you and have a pleasant evening.