Right, in fact in your annual report also you have mentioned that a fixed price contracts will be going up, going forward, so that strategy remains right?

V. Srinivas

Yes.

Vihang Naik – Motilal Oswal Securities

Okay.

Vikas Jadhav – Motilal Oswal Securities

This is Vikas here, I had one question. See off lately in the past one year, we have been seeing some big ticket acquisitions from the front line IT companies, we had Infocrossing, Axon, and then you know recently Citigroup’s E-Serve being taken in. So, although I know inorganic is an opportunistic this thing, but given that the valuations have fallen globally, are you considering a big ticket acquisition?

Ramalinga Raju

We are keeping our options open and as we have stated in the past, the only criteria is going to be as to whether the synergy levels would be high and whether the acquisition would add significant value for the share holders. So, we are not putting too many boundary conditions other than looking for very high level of business value to be added. We are open to any options

Vikas Jadhav – Motilal Oswal Securities

Okay, and lastly, I don’t know whether I missed this, you have what was the hedging position actually as of the quarter end?

V. Srinivas

630 millions.

Vikas Jadhav – Motilal Oswal Securities

Okay, thanks.

Operator

Thank you, the next question is from the line of Harshad Deshpande from Ambit Capital, please go ahead.

Harshad Deshpande – Ambit Capital

Yeah thanks a lot, just again going back to pricing, I just wanted to confirm that you said, whatever pricing decline that we saw this quarter was prevented due to cross currency impact?

V. Srinivas