 morning friends. So at the onset let me share that I have not just visited the Metaverse but I very recently my team has launched a car on the Metaverse. That was the Grand Vitara that's our first offering in the mid SUV segment. It is very exciting. The Metaverse of course at this stage allows people to have virtual interactions and experiences that can also take place in real time. As of now and by a large it is accessible by AR and VR through browsers and headsets respectively. In the future the Metaverse is envisioned to have some form of a digital economy through blockchain. Having said that the Metaverse as we know is still very much at a stage where the parameters of what exactly will constitute the Metaverse are yet to be defined. In the gaming world you must be knowing the Metaverse has the functionality to allow users to own virtual objects, land and more. And that may sound somewhat amusing at the moment but if we are to look back there was a time when people thought purchasing domain names was crazy. Today if I were to attempt on commenting on the Metaverse I would say that the Metaverse is a digital experience that allows the user to experience a virtual world in a immersive manner. Movement within the environment in three dimensions haptic feedback shared or collaborative interactions between multiple users are some of the aspects that makes the Metaverse immersive. In the future the Metaverse is envisioned to become an online global ecosystem that will allow an interoperable environment where people can travel within different digital platforms with their virtual assets and that sounds very exciting isn't it? This though is an enormous complex task for digital platforms to incorporate integrate and execute. Nevertheless just as the internet allowed us to collaborate in real time across different countries social media allowed us to connect with people across the globe. Metaverse technologies will allow us to do unprecedented things together without geographical boundaries and time zones and there are actually five technologies that will make those changes possible. First VR devices, second edge computing, third artificial intelligence, fourth blockchain and fifth 5G networks. So looking forward with the help of VR headsets and variable haptic devices people will be able to use their high-end computing devices and gigabyte bandwidth connectivity to work together, attend virtual events together, go out together for activities, shop together, dine together and I'm told even marry online and that's something. Anyway now I want to talk a little bit about why the Metaverse is important. Global factors such as Gen Z digital natives as we call them aside the pandemic brought about a dominant online culture for consumerism in our country. For automakers like Maruti Suzuki this proved to be a challenging task considering the tangible nature of our product base. To work around this the Metaverse became the medium of choice to engage with customers from the comfort of their homes. This is why earlier this year we had stated that the company was looking to spend about 10 to 15 percent of its innovation budget on Metaverse showrooms spread across the country and considering that Nexa which is our premium channel is celebrating seven years of automotive retail experience through the world of ingenious innovation, exclusivity and inspiring experiences it was a perfect platform to kick off our Metaverse plans. Along these lines we created what we call the Nexaverse to define the new car buying experience at a time when people's appetite for technology is going only one way that's up. Bearing this in mind I'm very happy to say by the end of this month itself Nexa customers will no longer have to visit a physical showroom to check out a new car. They can have an immersive experience of the vehicle from the comfort of their own homes through our AR technology on the Nexa website. Customers can explore the interiors, the exteriors of the car as well. Should the customer choose to they can even more they can have an even more visually stimulating experience by visiting the Nexa showroom and have a VR experience of the car by trying one of the 400 plus VR headsets that are available at all our Nexa outlets. One can also do so from their own home if they have their own VR headset as many of us have now. As I mentioned this functionality will soon be available across all our cars sold through Nexa and by the end of this festive season we will go on to include all Maruti Suzuki cars in the Metaverse through our upcoming Arenaverse AR VR experience. Some say that the timing couldn't have been any better but in fact this shift towards AR VR was planned to coincide with our latest flagship model the Grand Vitara. Considering that it is one of the best offerings in the mid SUV space as they strong hybrid the intelligent electric vehicle that it is giving a stupendous huge fuel efficiency almost 28 kilometers to a liter for a large SUV. People are losing their patience to see the car and feel what it had to offer. Nexaverse was the perfect platform to address this issue and we were able to let people experience the car much before it was produced physically. So while we unveiled it in July actual production happened in August and we people wanted to see it but we didn't have physical vehicle to to offer to the consumers. So this Nexaverse proved to be very very important for us and all thanks to AR and VR. The Grand Vitara is a very high-tech offering that's not just full of new age features such as connected cars many of you would be knowing about it virtual head-up display. It also comes for three different types of hybrid powertrain options and thanks to the Nexaverse our customers could get to know the car a little better before it was even physically available and that's the power of the metaverse and it goes without saying the response has been overwhelming and we have managed so far to get actually at the time of booking over 55,000 now it has crossed 65,000 bookings even before people had the chance to physically see the car and that's great because normally you don't book a car without actually seeing it but this immersive experience actually gave them the confidence to physically feel the not physically feel actually virtually physically feel the car so to say. The boost in confidence towards the Grand Vitara was greatly elevated by the Nexaverse and who the influence of e-bookings is close to about 17%. Now let's take a brief look at Maruti Suzuki's journey into the Nexaverse and as I mentioned earlier considering the technologically advanced nature of the Grand Vitara we wanted to present it to our customers in a never-before-seen manner and what better ways to interact with customers than by utilizing a new technology. So the car was first to be made available to all customers to view online only and make bookings. The best way to go about this we decided was to create a standalone metaverse for it one that is like a virtual Nexa showroom and making our entry into the physical digital world of metaverse we decided to call our version the Nexaverse. It was available across multiple devices and touch points through one the web based experience on web GL 2.0 with real-time rendering it was accessible on mobile devices, desktops, tabs, etc and second virtual reality VR experience where you can walk through around the virtual showroom at the dealer's outlet and the device used for this was Oculus Quest 2.0. We used 3D CAD models of the car converted them into optimized lifelike models that are available on the web for anyone to visit. Keeping with the gamified nature of the metaverse we also enabled customers to choose their own avatar in the Nexaverse while they are exploring the space that has become very popular with consumers and further the same experience was made available through the VR headset and customers could visit the Nexa showroom and enter into a virtual world where they could see the Grand Vitara digitally as though they were seeing that it in real life and this is never lost to receive bookings like never before the car had actually hit the market the photo realism of the Nexaverse made our customers get comfortable with the new car gave them the feeling of visiting a real showroom sitting in their homes and now talking about the technological challenges from a purely technical standpoint since at the onset the challenge we had was to visualize the kind of experience that we had to offer for the Nexaverse it had to be one of the universally compatible it had and could easily load not just on high-end phones or laptops but also entry-level smartphones as well so high-speed fiber internet high-end devices are a niche when it comes to the current market most users access the internet today at 4G speeds therefore making the experience load efficiently within this current limitation was crucial for the success of the project and this required us to create a realistic view of the car to be able to load on the lowest end devices required us to develop an optimized process which would keep the realism while making it accessible and I think we were able to achieve this Nexaverse today has more than 50,000 users on the platform with more than 70,000 user interactions and talking about future plans for the Nexaverse is part of our future plans digitized digitization is a growing investment for Marty Suzuki as we move forward we are planning to enable e-commerce through the Nexaverse platform people will be able to visualize and add accessories parts service to their car loyalty programs will be knitted into the journey and the possibilities just keep growing the Nexaverse customer experience is our upcoming version is going to be more personalized and interactive by adding a virtual relationship manager whom we can talk to just like a regular showroom the relationship manager will be able to guide the customer throughout their car buying journey in the next hours it also by the way helps us give a expand to really remote areas of our country without actually having a physical showroom something which is never tried before in our country users will be able also to take virtual test drives personalize their cars on the configurator and interact with relationship managers with their queries so I urge all of you metaverse enthusiasts to come and explore the next hours for yourself we are the beginning of a rapid change with dramatic impacts yet to come I can only say it's going to be a wonderful wonderful journey thank you thank you for your patient listening