This excerpt taken from the INFY 6-K filed Apr 20, 2005.
Moshe Katri SG Cowen - Analyst
Thanks. Can you comment on pricing trends from existing clients, specifically top 5 and top 10? I think youve indicated on the call so far that you saw a 4% bill rate increase, mostly from new clients. So, any ability to raise bill rates from your looking at your top 5 or top 10 client base?
Moshe this is Basab Pradhan. On our existing clients, large or medium sized and high growth accounts which is where the rates are the most important for us going forward, there are the rate increase is dependent obviously the timing of the contract and when it comes up for renegotiation. Some of them sign contracts, which are many three to even five years. Three years is probably more of an average. Three years long with either annual renegotiations or annual rate increases already built in. So if the rate increases are already built in we just go ahead and take them. If the rate increases are not built in you have to negotiate it every year. Then we are doing those. But that is the case with large and mid-sized high growth accounts. These tend to be fairly close to inflation. So it will be really unusual for us to have more than 4% rate increase when its built into the contract for a year-on-year rate increase.