a. Revenue from Contracts with Customers

Revenue from customer contracts are considered for recognition and measurement when the contract is legally
enforceable. Revenue is recognized upon transfer of control of promised services (“performance obligations”) to
customers in an amount that reflects the consideration the Company has received or expects to receive in exchange for
these products or services (“transaction price”). Revenue is measured based on the transaction price as per the contract
with a customer net of variable consideration on account of volume discounts, rebates and other similar allowances. When
there is uncertainty as to collectability, revenue recognition is postponed until such uncertainty is resolved.

At contract inception, the Company assesses its promise to transfer products or services to a customer to identify
separate performance obligations. The Company applies judgement to determine whether each product or service
promised to a customer is capable of being distinct, and are distinct in the context of the contract, if not, the promised
products or services are combined and accounted as a single performance obligation.

The Company allocates the transaction price (net of variable consideration) to separately identifiable performance
obligations based on their relative standalone selling price or residual method. Standalone selling prices are determined
based on sale prices for the components when it is regularly sold separately, in cases where the Company is unable to
determine the stand-alone selling price the Company uses third-party prices for similar deliverables or the Company
uses expected cost-plus margin approach in estimating the stand-alone selling price.

Revenue from contracts priced on time and material basis is recognized when services are rendered, and the related
costs are incurred.

Revenue related to fixed price maintenance and support services contracts where the Company provides services is
recognized based on time elapsed mode and revenue is straight-lined over the period of performance.

Revenue from services performed on fixed-price basis is recognized using the input method as defined in Ind AS-115 -
Revenue from Contracts with customers. The Company uses cost expended to measure progress towards completion as
there is a direct relationship between input and productivity. If the Company does not have a sufficient basis to measure
the progress of completion or to estimate total contract revenues and costs, revenue is recognized only to the extent of
contract cost incurred for which recoverability is probable.

When total cost estimates exceed revenue in arrangement, the estimated losses are recognized in the statement of profit
and loss in the year in which such losses become probable based on the current contract estimates.

Revenue from sale of licenses/hardware, where the customer obtains a “right to use” the licenses/hardware is recognized
at the point in time when the related license/hardware is made available to the customer. Revenue from licenses/hardware
where the customer obtains a “right to access” is recognized over the access period. For allocating the transaction price
to sale of licenses/hardware and related implementation and maintenance services, the Company measures the revenue
in respect of each performance obligation of a contract as its relative standalone selling price. In case, where the licenses
are required to be substantially customized as part of implementation service, the entire arrangement fee is considered
as single performance obligation and revenue is recognized as per input method.

Revenue for supply of third party products or services are recorded at gross or net basis depending on whether the
Company is acting as the principal or as an agent of the customer. The Company recognises revenue in the gross amount
of consideration when it is acting as a principal and at net amount of consideration when it is acting as an agent.

The Company accounts for variable considerations like, volume discounts, rebates, pricing incentives to customers
and penalties as reduction of revenue on a systematic and rational basis over the period of the contract. The Company
estimates an amount of such variable consideration using expected value method or the single most likely amount in a
range of possible consideration depending on which method better predicts the amount of consideration to which the
Company may be entitled and when it is probable that a significant reversal of cumulative revenue recognized will not
occur when the uncertainty associated with the variable consideration is resolved.

The Company accrues the estimated cost of post contract support services at the time when the revenue is recognized.
The accruals are based on the Company’s historical experience of material usage and service delivery costs.

Contract modifications are accounted for when additions, deletions or changes are approved either to the contract scope
or contract price. Contract modifications involving services added that are not distinct are accounted for on a cumulative
catch up basis, while those that are distinct are accounted for prospectively as a separate contract.

‘Unbilled revenues’ (contract asset) represent revenue earned in excess of billings as at the end of the reporting year.
Where right to consideration is unconditional upon passage of time is classified as a financial asset however, for fixed price
development contracts, where milestone is not due as per contract terms as on date of reporting, the same is classified
as non-financial asset.

‘Unearned & deferred revenue’ (contract liabilities) represent billing in excess of revenue recognized.

Deferred contract costs of:

i) Incremental costs that relate directly to a contract and incurred in securing a contract with a customer are recognized
as an asset when the Company expects to recover these costs and amortized over the contract term.

ii) Fulfilment cost specifically relating to a contract or to an anticipated contract, the costs generate or enhance
resources that will be used in satisfying performance obligations in future; and the costs are expected to be
recovered. The asset so recognized is amortized on a systematic basis consistent with the transfer of goods or
services to customer to which the asset relates.

Use of significant judgements in revenue recognition:

The Company uses the percentage-of-completion method in accounting for its fixed-price contracts. Use of the
percentage-of-completion method requires the Company to estimate costs expended to date as a proportion of the
total costs to be expended. Costs expended have been used to measure progress towards completion as there is a direct
relationship between input and productivity.

Further, the Company uses significant judgements while determining the transaction price to be allocated to
performance obligations.

Provision for estimated losses, if any, on uncompleted contracts are recorded in the year in which such losses become
probable based on the expected contract estimates at the reporting date.

b. Other income

Other Income comprises primarily of interest income, dividend income, gain/loss on investment and foreign exchange
gain/loss.

I) Interest income is recognized using effective interest method.

II) Dividend income is accounted in the year in which the right to receive the same is established.

c. Employee benefits

Short-term employee benefits

All employee benefits falling due wholly within twelve months of rendering the service are classified as short-term
employee benefits. The benefits like salaries, wages, and short-term compensated absences and performance incentives
are recognized in the year in which the employee renders the related service.

d. Post-employment benefits

i) Defined contribution plan:

The Company’s superannuation fund and pension scheme are classified as defined contribution plans. The
contribution paid/payable under the schemes is recognized during the year in which the employee renders the
related service.

ii) Defined benefit plans:

The provident fund scheme managed by trust, employee’s gratuity fund scheme managed by insurers and post¬
retirement medical benefit scheme are the Company’s defined benefit plans. Wherever applicable, the present value
of the obligation under such defined benefit plans is determined based on actuarial valuation using the Projected
Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit
entitlement and measures each unit separately to build up the final obligation.

The obligation is measured at the present value of the estimated future cash-flows. The discount rates used for
determining the present value of the obligation under defined benefit plans is based on the market yields on
government bonds as at the balance sheet date, having maturity periods approximating to the terms of related
obligations. Actuarial gains and losses through re-measurement of the defined benefit liability/(asset) are recognized
in other comprehensive income. The actual return of portfolio of plan assets, in excess of yields computed by applying
the discount rate used to measure the defined benefit obligation are recognized in Other Comprehensive Income.
Remeasurements comprising of actuarial gains or losses and return on plan assets (excluding amounts included in net
interest on the net defined benefit liability) are not reclassified to statement of profit and loss in subsequent years.

The effect of any plan amendment is recognized in statement of profit and loss.

Gains or losses on the curtailment or settlement of any defined benefit plan are recognized when the curtailment or
settlement occurs. Past service cost resulting from a plan amendment or curtailment are recognized immediately in
the statement of profit and loss.

iii) Compensated absences

Compensated absences which are expected to occur within twelve months after the end of the period in which
the employee renders the related services are recognized as undiscounted liability at the balance sheet date.
Compensated absences which are not expected to occur within twelve months after the end of the year in which
the employee renders the related services are recognized as an actuarially determined liability at the present value
of the defined benefit obligation at the balance sheet date.

e. Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses if any. Cost
includes expenditure directly attributable to the acquisition or construction of the asset and cost incurred for bringing
the asset to its present location and condition.

When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items
(major components) of property, plant and equipment. Subsequent expenditure relating to property, plant and equipment
is capitalized only when it is probable that future economic benefits associated with these will flow to the Company and
the cost of the item can be measured reliably. Repairs and maintenance costs are recognized in the statement of profit
and loss when incurred. The cost and related accumulated depreciation are eliminated from the financial statements upon
sale or disposition of the asset and the resultant gains or losses are recognized in the statement of profit and loss.

Amounts paid towards the acquisition of property, plant and equipment outstanding as of each reporting date and the
cost of property, plant and equipment not ready for intended use before such date are disclosed under capital advances
and capital work-in-progress (CWIP) respectively.

f. Intangible assets

Intangible assets are stated at cost, less accumulated, amortization and impairment. Goodwill represents the cost of
acquired businesses in excess of the fair value of net identifiable assets acquired.

I) Impairment of trade receivables, unbilled receivables and lease receivables

The Company assesses at each date of balance sheet whether a financial asset in form of trade receivables and
unbilled receivables is impaired. In accordance with Ind AS 109, the Company applies Expected Credit Loss (ECL)
model for measurement and recognition of impairment loss. As a practical expedient, the Company uses a provision
matrix to determine impairment loss on portfolio of its trade receivables and unbilled receivables. The provision
matrix is based on available external and internal credit risk factors such as credit default, credit rating from credit
rating agencies and Company’s historically observed default rates over the expected life of trade receivables and
unbilled receivables. ECL impairment loss allowance or reversal is recognized during the year as expense or income
respectively in the statement of profit and loss.

II) Impairment of intangible assets

i) Goodwill

Goodwill represents the cost of acquired businesses in excess of the fair value of net identifiable assets acquired.
Goodwill is not amortized but is tested for impairment annually or immediately when events or changes in
circumstances indicate that an impairment loss would have occurred. For the purpose of impairment testing,
goodwill acquired in a business combination is allocated to the Company's cash generating units (CGU) or
group of CGU’s expected to benefit from the synergies arising from the business combination. A CGU is the
smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows
from other assets or group of assets. The carrying amount of the cash generating unit, including goodwill, is
compared with its fair value. When the carrying amount of the cash generating unit exceeds its fair value, a
goodwill impairment loss is recognized. Total impairment loss of a CGU is allocated first to reduce the carrying
amount of goodwill allocated to the CGU and then to the other assets of the CGU prorata on the basis of the
carrying amount of each asset in the CGU. Goodwill impairment losses are not reversed.

ii) Other intangible assets

At the end of each reporting year, the Company reviews the carrying amounts of intangible assets to determine if
there is any indication of loss suffered. If such indication exists, the recoverable amount of the asset is estimated
to determine the extent of the impairment loss. Recoverable amount is the higher of the value in use or fair value
less cost to sell. When it is not possible to estimate the recoverable amount of an individual asset, the Company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.

III) Impairment of investments in subsidiaries

The Company assesses investments in subsidiaries for impairment whenever events or changes in circumstances
indicate that the carrying amount of the investment may not be recoverable. If any such indication exists, the Company
estimates the recoverable amount of the investment in subsidiary. The recoverable amount of such investment is the
higher of its fair value less cost of disposal and its value-in-use (VIU). The VIU of the investment is calculated using
projected future cash flows. If the recoverable amount of the investment is less than its carrying amount, the carrying
amount is reduced to its recoverable amount. The reduction is treated as an impairment loss and is recognized in the
statement of profit and loss.

The Company as a lessee

The Company’s lease asset classes primarily consist of leases for land, office premises and furniture & fixtures. The
Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if
the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.
To assess whether a contract conveys the right to control the use of an identified asset, the company assesses whether:
(1) the contract involves the use of an identified asset (2) the company has substantially all of the economic benefits
from use of the asset throughout the period of the lease and (3) the company has the right to direct the use of the asset
throughout the period of use.

At the date of commencement of the lease, the company recognizes a right-of-use asset (“ROU”) and a corresponding
lease liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (short¬
term leases) and low value leases. For these short-term and low value leases, the company recognizes the lease payments
as an operating expense on a straight-line basis over the term of the lease.

The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted
for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease
incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses.

Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease
term and useful life of the underlying asset. Right of use assets are evaluated for recoverability whenever events or
changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment
testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined
on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from
other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the
asset belongs.

The Company determines the lease term as the non-cancellable period of a lease, together with periods covered by an
option to extend the lease, where the Company is reasonably certain to exercise that option and periods covered by an
option to terminate the lease if the Company is reasonably certain not to exercise the option.

The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease
payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental
borrowing rates in the country of domicile of the leases. The incremental borrowing rate depends on the term, currency
and start date of the lease and is determined based on a series of inputs including: the risk-free rate based on government
bond rates and a country-specific risk adjustment. Lease liabilities are remeasured with a corresponding adjustment
to the related right of use asset if the company changes its assessment if whether it will exercise an extension or a
termination option.

A lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease
liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a
revised discount rate at the effective date of the modification.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been
classified as financing cash flows.

The Company as a lessor

Leases for which the Company is a lessor is classified as a finance or operating lease. Whenever the terms of the lease
transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All
other leases are classified as operating leases.

When the Company is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately.
The sublease is classified as a finance or operating lease by reference to the right-of-use asset arising from the head lease.

For operating leases, rental income is recognized on a straight-line basis over the term of the relevant lease.

For Finance leases, initially asset held under finance lease is recognized in balance sheet and presented as a receivable at
an amount equal to the net investment in the lease. Finance income is recognized over the lease term, based on a pattern
reflecting a constant periodic rate of return on Company’s net investment in the lease.

i. Depreciation

I) Property plant and equipment

Depreciation on assets have been provided on straight-line basis as mentioned in below table except for the
leasehold improvements which is depreciated over the lease period or life of asset, whichever is lower. Depreciation
on additions and disposals are calculated on pro-rata basis from and to the month of additions and disposals.

Based on technical evaluation, the Management believes that the useful lives as given above best represents the
period over which the Management expects to use these assets. Hence, the useful lives for these assets is different
from the useful lives as prescribed under Part C of Schedule II of the Companies Act 2013.

II) Intangible assets and amortization

The estimated useful life of an intangible asset is based on number of factors including the effects of obsolescence,
demand, competition and other economic factors and the level of maintenance expenditures required to obtain the
expected future cash flows from the asset. The basis of amortization of intangible assets on straight-line basis is
as follows:

Depreciation methods, useful lives and residual values are reviewed at each reporting date.

j. Share-based payments

In respect of stock options granted pursuant to the Company’s stock options scheme, the excess of fair value of the
share over the exercise price of the option is treated as discount and accounted as employee compensation cost over
the vesting period. The amount recognized as expense each year is arrived at based on the number of grants expected to
vest. If options granted lapse after the vesting period, the cumulative discount recognized as expense in respect of such
options is transferred to the general reserve. If options granted lapse before the vesting period, the cumulative discount
recognized as expense in respect of such options is transferred to the profit and loss.

k. Functional and presentation currency

The functional and presentation currency of the Company is the Indian Rupee as it is the currency of the primary economic
environment in which the Company operates.

l. Foreign currency transactions and balances

Foreign currency transactions related to the company and its branches are initially recorded at the rates prevailing on
the date of the transaction. At the balance sheet date, foreign currency monetary items are reported using the closing
rate. Exchange gains and losses arising on settlement and restatement are recognized in the Statement of profit and
loss. Non-monetary items which are carried at historical cost denominated in foreign currency are reported using the
exchange rate at the date of the transaction.

Foreign currency gains and losses are reported on a net basis.

m. Financial Instruments

Financial assets and liabilities are recognized when the Company becomes a party to the contractual provisions of
the instrument.

I) Initial measurement

Financial assets (excluding trade receivables) and liabilities are initially measured at fair value, i.e. transaction price.
Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities
(other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from
the fair value measured on initial recognition of financial asset or financial liability. Trade receivables that do not
contain a significant financing component are measured at transaction price.

II) Subsequent classification and measurement

i) Non-derivative financial assets

A) Financial assets at amortised cost

Financial assets are subsequently measured at amortised cost if:

a) the financial asset is held within a business model whose objective is to hold financial assets in order
to collect contractual cash flows, and

b) the contractual terms of financial assets give rise on specified dates that are solely payments of
principal and interest on the principal amount outstanding.

Financial assets at amortised cost are subsequently measured using effective interest method less
impairment loss if any.

B) Debt instruments at fair value through Other Comprehensive Income (FVTOCI)

Debt instruments are subsequently measured at fair value through other comprehensive income if the
financial asset is held within a business model whose objective is achieved by both collecting contractual
cash flows on specified dates that are solely payments of principal and interest on the principal amount
outstanding and selling the financial asset. Company recognises interest income, impairment losses &
reversals and foreign exchange gain/(loss) in statement of profit and loss. On derecognition of the asset,
cumulative gain or loss previously recognized in OCI is reclassified from equity to profit and loss. Interest
earned is recognized under the effective interest rate (EIR) method.

C) Equity instruments at FVTOCI

All equity instruments are measured at fair value. Equity instruments held for trading is classified as FVTPL.
For all other equity instruments, the Company may make an irrevocable election to present subsequent
changes in the fair value in OCI. The Company makes such election on an instrument-by-instrument basis.
If the Company decides to classify an equity instrument as FVTOCI, then all fair value changes on the
instrument, excluding dividend are recognized in OCI. On derecognition of the instrument the cumulative
gain or loss is not reclassified to the statement of profit and loss, but will be transferred to retained earnings.

D) Financial assets at fair value through profit and loss (FVTPL)

Financial assets are measured at fair value through profit or loss unless they are measured at amortised
cost or at fair value through Other Comprehensive Income on initial recognition. The transaction costs
directly attributable to the acquisition of financial assets and liabilities at fair value through profit or loss
are immediately recognized in statement of profit and loss.

ii) Non-derivative financial liability

Financial liabilities are initially recognized at fair value, and subsequently carried at amortized cost using the
effective interest method except for contingent consideration recognized in a business combination which is
subsequently measured at fair value through profit and loss.

iii) Investment in subsidiaries and joint ventures

Investment in Subsidiaries and joint ventures are carried at cost less impairment, if any in the Standalone
Financial Statements. Dividend income from subsidiaries is recognized when its right to receive the dividend
is established.

iv) Derivative financial instrument

The Company holds derivative financial instrument such as foreign exchange forward contracts and options
contracts including a combination of purchased and written options to mitigate the risk of changes in exchange
rates on foreign currency exposures and forecast transactions. The counterparty for these contracts is generally
a bank.

The Company uses hedging instruments that are governed by the risk management policy which is approved by
the board of directors. The policy provides written principles on the use of such derivative financial instruments.
The Company designates such instruments as hedges and performs assessment of hedge effectiveness
based on consideration of terms of the hedging instrument, the economic relationship between the hedging
instrument and hedged item and the objective of the hedging.

Derivatives are recognized and measured at fair value. Attributable transaction costs are recognized in the
statement of profit and loss.

A) Cash flow hedges

The Company designates certain derivative instruments as cash flow hedges to mitigate the risk of foreign
exchange exposure on highly probable forecast transactions.

When a derivative is designated as a Cash flow hedge instrument, the effective portion of changes in
fair value of the derivative is recognized in Other Comprehensive Income and presented within equity
as hedging reserve. Any ineffective portion of changes in the fair value of the derivative is recognized
immediately in the Statement of Profit and Loss. If the hedging instrument no longer meets the criteria for
hedge accounting, then hedge accounting is discontinued prospectively. If the hedging instrument expires
or is sold, terminated or exercised, the cumulative gain or loss on the hedging instrument recognized in
Cash flow hedge reserve is transferred to the Statement of Profit and Loss upon the occurrence of related
forecasted transaction.

B) Fair value hedges

Changes in the fair value of the derivative instruments designated as fair value hedges are recognized in
statement of profit and loss.

III) Derecognition

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial assets
expire or it transfers the financial asset and the transfer qualifies for derecognition under Ind AS 109. A financial liability
is derecognized from the company’s balance sheet where the obligation specified in the contract is discharged or
cancelled or expired.

IV) Offsetting

Financial assets and financial liabilities are offset and the net amounts are presented in the balance sheet when, and
only when, the Company currently has a legally enforceable right to set off the amounts and it intends either to settle
them on a net basis or to realise the asset and settle the liability simultaneously.

n. Taxes on income

Income tax expense comprises current and deferred income tax. Tax on income for the current year is determined on the
basis of taxable income and tax credits computed in accordance with the provisions of the Indian Income tax Act, 1961.
Foreign branches recognise current tax/deferred tax liabilities and assets in accordance with the applicable local laws.

Income tax and deferred tax expense is recognized in the statement of profit and loss except to the extent that it relates
to items recognized directly in other comprehensive income, in which case income tax expense is recognized in Other
Comprehensive Income. Current income tax for current and prior years is recognized at the amount expected to be paid
to or recovered from the tax authorities.

The Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the
recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability
simultaneously. Deferred income tax assets and liabilities are recognized for all temporary differences arising between
the tax bases of assets and liabilities and their carrying amounts in the financial statements except when the deferred
income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business
combination and affects neither accounting nor taxable profit or loss at the time of the transaction. Other deferred tax
assets are recognized and carried forward to the extent that there is a reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be realized. Deferred tax assets are reviewed at each
reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively
enacted as on the balance sheet date and are expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled.

o. Cash & Cash Equivalents

The Company considers all highly liquid investments, which are readily convertible into known amounts of cash that are
subject to an insignificant risk of change in value to be cash equivalents. Cash and cash equivalents consist of balances
with banks which are unrestricted for withdrawal and usage.