Kshitij Anand: I wanted to get your view on the recent results that have come out. In fact, CleanMax delivered more than 100% year-on-year revenue growth and 70% growth in adjusted EBITDA in Q1. How much of this growth is sustainable, and what should investors expect from the business over the next few years?

Kshitij Anand: The reason I ask is that growth appears to be quite strong quarter-on-quarter. Given the long-term nature of your contracts, is the over 100% growth sustainable, or should we expect some normalisation in the coming quarters?

Kshitij Anand: No, no, of course, it is year-on-year…

Kshitij Anand: Let me also get your perspective on the recent projects. So, you commissioned a record 0.5 gigawatt of capacity in Q1, and you are guiding for at least 1.5 gigawatts of additions in FY27. How confident are you about meeting or exceeding this target?

Kshitij Anand: The reason I emphasise this is that every year brings new challenges. With some political volatility in 2026, do you foresee any bottlenecks or resistance that could impact growth?

Kshitij Anand: Let us also talk about the new opportunities. Data centres and AI infrastructure now account for 42% of your contracted renewable energy power sales capacity. With this portfolio growing nearly 10 times in just over two years, could this become the single biggest growth engine for CleanMax?

Kshitij Anand: Let me also focus on the segment, the C&I customer across technology, digital infrastructure, manufacturing and industrial sectors. Which segments are currently showing the strongest incremental demand for renewable power?

Kshitij Anand: In fact, let me also get your perspective on the debt, which has actually come down to 8.4% from 9.2% in April 2025. How much of this benefit can be passed through to project returns as you scale the portfolio?

Kshitij Anand: In fact, my next question is also around that. The board has approved a domestic bond issuance to diversify funding and secure long-term fixed-rate financing. How large could this financing be, and what kind of impact could it have on your overall cost of capital, as you rightly put it, given that the rating has also…?

Kshitij Anand: And CleanMax, as a company, has grown its contracted portfolio threefold in two years, and the renewable energy market is becoming increasingly competitive. What is the biggest challenge you see in scaling from the current 6-gigawatt portfolio to, let us say, the next 10-gigawatt portfolio?