exv99w7

Exhibit 99.7


Fact Sheet – Consolidated Financial Data, Second Quarter, 2004-05 Profit and Loss Account summary for the Quarter ended

(Consolidated as per Indian GAAP)

in Rs. crore, except per share data


											Growth % in
											Q2 FY 2005
	September 30,				Growth			Quarter ended			over Q1 FY
Particulars	2004		2003		(%)			June 30, 2004			2005
INCOME
Software services, products and business process management
Overseas		1,719.26		1,133.06		51.74			1,493.45			15.12
Domestic		30.07		18.74		60.46			23.93			25.66
TOTAL INCOME		1,749.33		1,151.80		51.88			1,517.38			15.29
Software development and business process management expenses		926.66		595.28		55.67			805.22			15.08
GROSS PROFIT		822.67		556.52		47.82			712.16			15.52
Selling and marketing expenses		122.27		82.69		47.87			105.21			16.22
General and administration expenses		139.37		92.37		50.88			117.68			18.43
		261.64		175.06		49.46			222.89			17.39
OPERATING PROFIT BEFORE INTEREST, DEPRECIATION & AMORTIZATION AND BEFORE MINORITY INTERESTS		561.03		381.46		47.07			489.27			14.67
Interest		—		—		—			—			—
Depreciation and amortization		60.63		63.42		(4.40	)		52.53			15.42
OPERATING PROFIT AFTER INTEREST, DEPRECIATION & AMORTIZATION AND MINORITY INTERESTS		500.40		318.04		57.34			436.74			14.58
Other income		29.60		43.16		(31.42	)		15.70			88.54
Provision for investments		0.07		0.22		(68.18	)		(0.01	)		—
NET PROFIT BEFORE TAX AND MINORITY INTERESTS		529.93		360.98		46.80			452.45			17.12
Provision for taxation		82.56		60.00		37.60			64.11			28.78
NET PROFIT BEFORE MINORITY INTERESTS		447.37		300.98		48.64			388.34			15.20
Minority interests		—		—		—			—			—
NET PROFIT AFTER TAX AND MINORITY INTERESTS		447.37		300.98		48.64			388.34			15.20
EARNINGS PER SHARE* (Equity shares, par value Rs. 5/- each)
Basic		16.71		11.36		47.10			14.54			14.92
Diluted		16.34		11.26		45.12			14.29			14.35

* adjusted for the 3:1 bonus issue of shares distributed on July 6, 2004

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Fact Sheet – Consolidated Financial Data, Second Quarter, 2004-05 Profit and Loss Account summary for the Half-year ended

(Consolidated as per Indian GAAP)

in Rs. crore, except per share data


								Year ended
	September 30,				Growth			March 31,
Particulars	2004		2003		(%)			2004
INCOME
Software services, products and business process management
Overseas		3,212.71		2,204.43		45.74			4,786.72
Domestic		54.00		42.07		28.36			66.23
TOTAL INCOME		3,266.71		2,246.50		45.41			4,852.95
Software development and business process management expenses		1,731.88		1,174.87		47.41			2,538.67
GROSS PROFIT		1,534.83		1,071.63		43.22			2,314.28
Selling and marketing expenses		227.47		164.34		38.41			350.90
General and administration expenses		257.04		175.35		46.59			369.19
		484.51		339.69		42.63			720.09
OPERATING PROFIT BEFORE INTEREST, DEPRECIATION & AMORTIZATION AND MINORITY INTERESTS		1,050.32		731.94		43.50			1,594.19
Interest		—		—		—			—
Depreciation and amortization		113.20		108.56		4.27			236.73
OPERATING PROFIT AFTER INTEREST, DEPRECIATION & AMORTIZATION AND MINORITY INTERESTS		937.12		623.38		50.33			1,357.46
Other income		45.31		75.10		(39.67	)		123.38
Provision for investments		0.06		6.59		(99.09	)		9.67
NET PROFIT BEFORE TAX AND MINORITY INTERESTS		982.37		691.89		41.98			1,471.17
Provision for taxation		146.67		112.00		30.96			227.54
NET PROFIT BEFORE MINORITY INTERESTS		835.70		579.89		44.11			1,243.63
Minority interests		—		—		—			—
NET PROFIT AFTER TAX AND MINORITY INTERESTS		835.70		579.89		44.11			1,243.63
EARNINGS PER SHARE* (Equity shares, par value Rs. 5/- each)
Basic		31.25		21.88		42.82			46.85
Diluted		30.64		21.75		40.87			46.27

* adjusted for the 3:1 bonus issue of shares distributed on July 6, 2004

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Fact Sheet – Consolidated Financial Data, Second Quarter, 2004-05

REVENUE BY GEOGRAPHICAL SEGMENT


	Quarter ended						LTM
	Sept 30, 2004		June 30, 2004		Sept 30, 2003		Sept 30, 2004		Sept 30, 2003
	%		%		%		%		%
North America		65.2		65.2		73.9		66.8		73.6
Europe		21.4		22.2		18.0		21.2		17.7
India		1.7		1.6		1.6		1.3		1.9
Rest of the world		11.7		11.0		6.5		10.7		6.8
Total		100.0		100.0		100.0		100.0		100.0

REVENUE BY SERVICE OFFERING


	Quarter ended						LTM
	Sept 30, 2004		June 30, 2004		Sept 30, 2003		Sept 30, 2004		Sept 30, 2003
	%		%		%		%		%
Development		25.1		26.1		25.2		25.3		29.0
Maintenance		29.2		28.8		31.6		29.7		28.3
Re-engineering		6.5		5.8		5.9		6.1		5.8
Package implementation		15.1		15.0		12.6		15.3		12.8
Consulting		3.0		3.4		3.4		3.3		4.0
Testing		5.7		5.3		6.0		5.4		4.5
Engineering services		2.0		1.9		2.1		2.0		2.4
Business process management		2.4		2.1		1.5		2.1		1.1
Other services		8.1		9.2		8.9		8.2		8.3
Total services		97.1		97.6		97.2		97.4		96.2
Products		2.9		2.4		2.8		2.6		3.8
Total revenues		100.00		100.0		100.0		100.0		100.0

REVENUE BY PROJECT TYPE *


	Quarter ended						LTM
	Sept 30, 2004		June 30, 2004		Sept 30, 2003		Sept 30, 2004		Sept 30, 2003
	%		%		%		%		%
Fixed Price		29.7		29.7		35.2		30.9		36.4
Time & Materials		70.3		70.3		64.8		69.1		63.6
Total		100.0		100.0		100.0		100.0		100.0

“LTM” - Last Twelve Months
* Excluding products

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Fact Sheet – Consolidated Financial Data, Second Quarter, 2004-05

REVENUE BY INDUSTRY


	Quarter ended						LTM
	Sept 30, 2004		June 30, 2004		Sept 30, 2003		Sept 30, 2004		Sept 30, 2003
			%		%		%		%
Insurance, banking & financial services		35.1		34.0		38.9		35.0		37.8
Insurance		9.8		9.6		15.2		10.5		13.9
Banking & financial services		25.3		24.4		23.7		24.5		23.9
Manufacturing		14.7		15.0		15.0		14.6		15.7
Retail		9.5		11.4		11.7		11.0		11.5
Telecom		18.5		17.9		15.4		18.0		15.2
Energy & Utilities		2.9		2.9		3.0		2.8		3.2
Transportation & logistics		7.5		7.6		7.1		7.3		7.0
Services		8.1		6.1		5.0		6.5		5.4
Others		3.7		5.1		3.9		4.8		4.2
Total		100.0		100.0		100.0		100.0		100.0

CLIENT DATA


	Quarter ended
	Sept 30, 2004			June 30, 2004			Sept 30, 2003
Active Clients		431			419			347
Added during the quarter		32			29			29
Number of million dollar clients*		146			141			119
Number of 5 million+ dollar clients*		60			53			40
Number of 10 million+ dollar clients*		31			27			22
Number of 20 million+ dollar clients*		16			15			10
Number of 30 million+ dollar clients*		10			8			5
Number of 40 million+ dollar clients*		7			5			3
Number of 50 million+ dollar clients*		3			3			—
Clients accounting for >5% of revenue		1			1			1
Revenue – top client		5.5	%		5.3	%		6.6	%
Revenue – top 5 clients		21.6	%		21.6	%		24.6	%
Revenue – top 10 clients		34.7	%		34.3	%		37.9	%
Repeat business		96.3	%		98.5	%		95.7	%
Account receivables – LTM (in days)		58			58			51

“LTM” - Last Twelve Months
* LTM Revenues

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Fact Sheet – Consolidated Financial Data, Second Quarter, 2004-05

EFFORT AND UTILIZATION


	Quarter ended
	Sept 30, 2004			June 30, 2004			Sept 30, 2003
Effort
Onsite		27.7	%		29.4	%		29.9	%
Offshore		72.3	%		70.6	%		70.1	%
Revenue
Onsite		49.8	%		51.9	%		51.7	%
Offshore		50.2	%		48.1	%		48.3	%
Utilization
Including trainees		71.4	%		73.4	%		73.6	%
Excluding trainees		81.0	%		79.7	%		84.0	%

PERSON MONTHS DATA


	Quarter ended
	Sept 30, 2004		June 30, 2004		Sept 30, 2003
Billed – Onsite		17,358		16,211		11,875
– Offshore		45,375		38,894		27,778
TOTAL		62,733		55,105		39,653
Non Billable		14,755		14,061		7,558
Trainees		10,389		5,901		6,676
Sales & Support		4,964		4,652		4,283
TOTAL		92,841		79,719		58,170

EMPLOYEE METRICS


	Quarter ended
	Sept 30, 2004			June 30, 2004			Sept 30, 2003
Total Employees		32,949			27,939			20,158
S/W professionals		30,922			26,028			18,580
Billable		24,977			23,761			15,988
Banking Product Group		838			685			501
Trainees		5,107			1,582			2,091
Sales & Support		2,027			1,911			1,578
Gross Addition		6,078			3,233			2,851
Net Addition		5,010			2,305			2,181
Lateral Employees		1,052			746			338
Attrition % (LTM) *		10.8	%		10.9	%		9.1	%

“LTM” - Last Twelve Months
* Excluding subsidiaries

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Fact Sheet – Consolidated Financial Data, Second Quarter, 2004-05

INFRASTRUCTURE (as on Sept 30, 2004)**


	Completed				Work in Progress				Land
	Built-Up Area				Built-Up Area				acquired during
	(Sq Ft)		No. of Seats		(Sq Ft)		No. of Seats		the Qtr (acres)
Bangalore		1,863,836		11,262		471,000		2,000		0.90
Pune		589,647		3,626		309,000		2,500
Chennai		496,317		2,906		308,000		2,470
Hyderabad		462,000		2,865		454,000		1,215
Bhubaneshwar		284,000		2,000		230,000		1,250
Mangalore		198,000		1,240		—		160
Mysore (including ILI)*		1,104,450		1,484		1,362,900		1,450
Mohali		21,000		200		3,30,000		3,100		20.00
Trivandrum		22,000		220		22,000		220
Total		5,041,250		25,803		3,486,900		14,365		20.90

* Infosys Leadership Institute

** Excluding subsidiaries

CONSOLIDATED IT SERVICES


	Sept 30, 2004		June 30, 2004		Sept 30, 2003
Effort – Services (Person months)
Onsite		17,267		16,118		11,873
Offshore		37,574		32,592		24,499
Revenue – Services ($ million)
Onsite		188.03		172.69		129.72
Offshore		170.29		146.65		110.20

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Fact Sheet – Consolidated Financial Data, Second Quarter, 2004-05 Reconciliation of accounts as per Indian GAAP and US GAAP

in Rs. Crore


	Quarter ended						Year ended
	Sept 30, 2004			Sept 30, 2003			March 31, 2004
Consolidated Net Profit as per Indian GAAP		447.37			300.98			1,243.63
Amortization of deferred stock compensation		—			(4.90	)		(12.87	)
Deferred taxes		0.35			(1.30	)		(5.05	)
Gain on forward foreign exchange contracts		—			3.50			16.01
Amortization of Intangibles		(1.17	)		—			(1.19	)
Others		—			(1.50	)		(6.05	)
Consolidated Net income as per US GAAP		446.55			296.78			1,234.48

Reasons for differences in net income as per Indian GAAP and US GAAP

Amortization of deferred stock compensation

The Accounting Principles Board Opinion No. 25 of US GAAP requires the accounting of deferred stock compensation on issue of stock options to employees, being the difference between the exercise price and the market value as determined by the quoted market prices of the common stock on the grant date.

Gain on forward exchange contracts

Until April 1, 2004, Indian GAAP required the premium/discount on forward contract to be recognized as income or expenditure over the life of the related contract. Under US GAAP, the same is marked-to-market as on the reporting date. The resultant gain / loss is recognized immediately in the income statement. Effective April 1, 2004, the company changed its accounting policy in India in line with the revised Accounting Standard 11 on forward contracts and hence the company has decided to account for the forward exchange contracts based on their designation as ‘effective hedges’ or ‘not effective’.

Amortization of Intangibles

US GAAP requires the purchase price in business combination transactions to be allocated to identifiable assets and liabilities, including intangible assets. Intangible assets are to be amortized over the estimated useful life. The amortization relates to that of an intangible asset identified in allocation of the purchase price of Expert Information Services Pty Limited, Australia.