The fair value hierarchy of assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 is as follows:


(Dollars in millions)
	As of March 31, 2026	Fair value measurement at end of the reporting year using
		Level 1	Level 2	Level 3
Assets
Investments (Refer to note 2.2)
Investments in Mutual fund units	251	251	—	—
Investments in quoted debt securities	981	898	83	—
Investments in certificates of deposit	844	—	844	—
Investments in commercial paper	127	—	127	—
Investments in unquoted equity and preference securities	72	—	—	72
Investments in quoted equity securities	6	6	—	—
Investment in unquoted investments others	28	—	—	28
Others
Derivative financial instruments- gain	9	—	9	—
Liabilities
Derivative financial instruments- loss	63	—	63	—
Financial liability under option arrangements (Refer to Note 2.5)(1)	93	—	—	93
Liability towards contingent consideration (Refer to note 2.5)(2)	11	—	—	11

(1) Discount rate ranges from 9.5% to 14.5%

(2) Discount rate ranges from 2.5% to 6%

The fair value hierarchy of assets and liabilities measured at fair value on a recurring basis as of March 31, 2025 is as follows:


(Dollars in millions)
	As of March 31, 2025		Fair value measurement at end of the reporting year using
			Level 1		Level 2		Level 3
Assets
Investments (Refer to note 2.2)
Investments in Mutual fund units		229		229		—		—
Investments in target maturity fund units		54		54		—		—
Investments in quoted debt securities		1,602		1,533		69		—
Investments in certificates of deposit		410		—		410		—
Investments in commercial paper		426		—		426		—
Investments in unquoted equity and preference securities		23		—		—		23
Investments in quoted equity securities		7		7		—		—
Investment in unquoted investments others		23		—		—		23
Others
Derivative financial instruments- gain		23		—		23		—
Liabilities
Derivative financial instruments- loss		7		—		7		—
Financial liability under option arrangements (Refer to Note 2.5)(1)		77		—		—		77
Liability towards contingent consideration (Refer to note 2.5)(2)		3		—		—		3

(1)Discount rate ranges from 9% to 15%

(2)Discount rate - 6%

Income from financial assets


(Dollars in millions)
	Year ended March 31,
	2026		2025		2024
Interest income on financial assets carried at amortized cost	184		180		128
Interest income on financial assets fair valued through other comprehensive income	121		124		122
Gain / (loss) on investments carried at fair value through profit or loss	33		34		34
Gain / (loss) on investments carried at fair value through other comprehensive Income	2			-		-
Gain / (loss) on investments carried at amortized cost		9		-		-
		349		338		284

The following table gives details in respect of outstanding foreign exchange forward and options contracts:


	As of
	March 31, 2026				March 31, 2025
	In Million		In $ Million		In Million		In $ Million
Derivatives designated as cash flow hedges

Forward contracts
In Swiss Franc		—		—	53		60

Option Contracts
In Euro		417		479		341		367
In Australian dollars		87		60		93		58
In Swiss Franc		26		32		—		—
In United Kingdom Pound Sterling		18		24		17		22
Other derivatives
Forward contracts
In U.S. Dollars		1,509		1,509		1,284		1,284
In Euro		853		980		698		753
In Singapore dollars		149		115		133		99
In Swiss Franc		70		88		51		58
In United Kingdom Pound Sterling		65		85		53		69
In Australian dollars		58		40		24		15
In Norwegian Krone		300		31		167		16
In Hongkong Dollars		106		13		40		5
In New Zealand dollars		22		13		37		21
In South African rand		152		9		—		—
In Danish Krone		50		8		152		22
In Hungarian Forint		2,280		7		2,000		5
In Canadian dollars		7		5		—		—
In Czech Koruna		99		5		176		7
In Philippine Peso		—		—		500		9
Option contracts
In U.S. Dollars		685		685	796		796
In Euro		48		55		179		193
In Australian dollars		25		17	11		7
In United Kingdom Pound Sterling		10		13		—		—
				4,273				3,866

The following table provides the reconciliation of cash flow hedge reserve:


(Dollars in millions)
	Year ended March 31,
	2026			2025			2024
Gain / (Loss)
Balance at the beginning of the period		(2	)		1			—
Gain / (Loss) recognized in other comprehensive income during the period		(35	)		(1	)		1
Amount reclassified to profit or loss during the period		35			(3	)		1
Tax impact on above		—			1			(1	)
Balance at the end of the period		(2	)		(2	)		1

The following table gives details in respect of percentage of revenues generated from top five customers and top ten customers:


		(In %)
	Year ended March 31,
	2026	2025		2024
Revenue from top five customers	12.9	13.2		13.3
Revenue from top ten customers	20.5		20.5		20.0


Year ended March 31, 2026, March 31, 2025 and March 31, 2024
			(Dollars in millions)
Particulars	Year ended March 31
	2026		2025		2024
Revenues by Geography*
North America		11,304		11,166		11,163
Europe		6,480		5,745		5,105
India		576		593		469
Rest of the world		1,798		1,773		1,825
Total		20,158		19,277		18,562

*Geographical revenues are based on the domicile of customer


				(Dollars in millions)
	Year ended March 31,
	2026			2025			2024
Balance at the beginning		114			114			117
Translation differences		—			(2	)		(2	)
Impairment loss recognized / (reversed), net		9			13			11
Amounts written off		(30	)		(11	)		(12	)
Balance at the end		93			114			114

The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2026:


				(Dollars in millions)
	Less than 1 year	1-2 years	2-4 years	4-7 years	Total
Trade payables	500	—	—	—	500
Financial liability under option arrangements on an undiscounted basis (Refer to Note 2.5)	88	—	15	—	103
Liability towards contingent consideration on an undiscounted basis (Refer to Note 2.5)	8	3	—	—	11
Other financial liabilities on an undiscounted basis (Refer to Note 2.5)	1,744	171	21	—	1,936

The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2025:


							(Dollars in millions)
	Less than 1 year		1-2 years		2-4 years		4-7 years		Total
Trade payables		487		—		—		—		487
Financial liability under option arrangements on an undiscounted basis (Refer to Note 2.5)		72		—		17		—		89
Liability towards contingent consideration on an undiscounted basis (Refer to Note 2.5)		2		2		—		—		4
Other financial liabilities on an undiscounted basis (Refer to Note 2.5)		1,709		205		17		1		1,932