Thank you.

Operator

Thank you, Mr. Thadani. The next question is from the line of Mr. James Friedman from Susquehanna, please go ahead.

James Friedman – Susquehanna

Hi, good evening, thank you. My first question is with regard to the $10 million customers. You mentioned that trying to understand press release, could you describe may be what vertical that is from?

Ram Mynampati

I’m sorry. We are not sure. The customer that we are referring to the large deal we signed this quarter is the transportation vertical.

James Friedman – Susquehanna

Okay. Thank you. And then Ram you occasionally give updated pipeline metric about how many you have shopped and how many you have closed. Do you have any further visibility into that?

Ram Mynampati

Are you talking about large deals?

James Friedman – Susquehanna

Yeah.

Ram Mynampati

I think we still have still 20+ large deals in the pipeline. So as I said the pipeline remains fairly robust and also spread out across geographies and market segments and all that. As I said the only noticeable change that we are witnessing is the cycle times seems to be getting longer and that is understandable given the market environment.

James Friedman – Susquehanna

Okay. Then Srinivas with regard to the balance sheet, I didn’t want to dwell into that a little bit because you had significant improvement in both the DSO and the unbilled revenue and I know what you mentioned with regard to the DSO. The unbilled revenue declined the percentage of revenue to the lowest revenue it has been in about three years. To me that‘s a side of the cash flow, better financial environment. Can you describe some of mechanics of how you got the unbilled down to this magnitude?

V. Srinivas

Yeah. This is one thing on which we have been working for quite sometime and as we were basically mentioning earlier some of the unbilled is linked to the fixed price contracts. So, that is basically based on the milestone that we’ve reached. We will be announcing the customers. So it basically kind of so happened that some of the milestones we have reached in this quarter and we were able to invoice the customer. So otherwise it is our endeavor to basically to see that we have shorter milestones put in the contracts in (inaudible) so that this unbilled will not pile out. Some of these initiatives we are taking just to ensure that the unbilled revenue is under check.

James Friedman – Susquehanna