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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001145549-08-000692.txt : 20080612
<SEC-HEADER>0001145549-08-000692.hdr.sgml : 20080612
<ACCEPTANCE-DATETIME>20080422095604
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001145549-08-000692
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20080422

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WNS (HOLDINGS) LTD
		CENTRAL INDEX KEY:			0001356570
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				330996780
		STATE OF INCORPORATION:			XX
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		GATE 4, GODREJ & BOYCE COMPLEX
		STREET 2:		PIROJSHANAGAR, VIKHROLI (W)
		CITY:			MUMBAI
		STATE:			K7
		ZIP:			400 079
		BUSINESS PHONE:		91-22-55976100

	MAIL ADDRESS:	
		STREET 1:		GATE 4, GODREJ & BOYCE COMPLEX
		STREET 2:		PIROJSHANAGAR, VIKHROLI (W)
		CITY:			MUMBAI
		STATE:			K7
		ZIP:			400 079
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>WNS (Holdings) Limited</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Helvetica,Arial,sans-serif" style="font-size:13pt; font-variant: SMALL-CAPS"><B>LATHAM
<FONT size="1">&#038;</FONT> WATKINS <FONT size="1">llp</FONT></B></FONT><BR><BR></DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">9 Raffles Place<BR>
#42-02 Republic Plaza<BR>
Singapore 048619</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD colspan="3" valign="top" align="left"><FONT face="Helvetica,Arial,sans-serif">Tel:
&#043;65.6536.1161 Fax: &#043;65.6536.1171<BR>
www.lw.com</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><FONT face="Helvetica,Arial,sans-serif">FIRM / AFFILIATE OFFICES</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Barcelona</FONT>
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">New
Jersey</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Brussels</FONT>
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">New
York</FONT></TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Chicago</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Northern Virginia</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Frankfurt</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Orange County</FONT></TD>
</TR>
<TR valign="bottom">

<TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px; font-size: 10pt">April&nbsp;22, 2008</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Hamburg<BR>Hong Kong
</FONT>
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Paris<BR>
San Diego</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">London</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">San Francisco</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Los Angeles</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Shanghai</FONT></TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Madrid</FONT>
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Silicon
Valley</FONT></TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Milan</FONT>
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Singapore</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Moscow</FONT>
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Tokyo</FONT></TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Munich</FONT>
</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">Washington,
D.C.</FONT></TD>
</TR>


<TR valign="bottom">
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD colspan="3" align="left" valign="top"><FONT face="Helvetica,Arial,sans-serif">File
No. 041135-0005</FONT></TD>
</TR>



<!-- End Table Body --></TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>VIA EDGAR AND FACSIMILE (202)&nbsp;772 9210</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
Division of Corporation Finance<BR>
Mail Stop 4561<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" nowrap align="left">Attention:&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Kathleen Collins, Accounting Branch Chief<BR>
Jennifer Thompson, Staff Accountant<BR>
Evan Jacobson, Staff Attorney<BR>
David Orlic, Special Counsel</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>Re:&nbsp;</B></TD>
    <TD width="1%"><B>&nbsp;</B></TD>
    <TD><B>WNS (Holdings) Limited<BR>
Form&nbsp;20-F for the Fiscal Year Ended March&nbsp;31, 2007 filed June&nbsp;26, 2007<BR>
Form&nbsp;6-K filed February&nbsp;8, 2008<BR>
File No.&nbsp;1-32945</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are counsel to WNS (Holdings) Limited, a company organized under the laws of Jersey,
Channel Islands (the &#147;<U>Company</U>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On behalf of the Company, set forth below is the Company&#146;s responses to the Staff&#146;s comment
letter dated April&nbsp;8, 2008. For the Staff&#146;s convenience, the Staff&#146;s comments are set forth in
italics before each response.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><I>Form&nbsp;20-F for the Fiscal Year Ended March&nbsp;31, 2007 </I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>Item&nbsp;5. Operating and Financial Review and Prospects, page 35</I></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><I>1.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note from your response to our prior comment 3 that your customer contracts do not
generally provide for a committed minimum volume of business or committed amounts of revenues,
and your clients only provide you with one to three month rolling forecasts of their service
requirements. Please disclose this information to your readers as part of your discussion of
your contracts, as we believe this provides your readers with useful information about the
customary terms of your contracts.</I></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company notes the Staff&#146;s comment and advises the Staff that in its future filings on
Form 20-F, it will include the requested disclosure in its discussion of its contracts.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>April&nbsp;22, 2008<BR>
Page 2</B>

</DIV>

<DIV style="margin-left:0px; text-indent:-0px; margin-top: 12pt"><FONT face="Helvetica,Arial,sans-serif" style="font-size:13pt; font-variant: SMALL-CAPS"><B>LATHAM
<FONT size="1">&#038;</FONT> WATKINS <FONT size="1">llp</font></B></FONT><BR><BR></DIV>




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company advises the Staff that it will include the additional disclosure below in
&#147;&#151; Overview &#151; Revenue &#151; Our Contracts&#148; of the MD&#038;A discussion in its annual report on
Form&nbsp;20-F for the fiscal year ended March&nbsp;31, 2008.
</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
<TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
<TD>&#147;Our clients customarily provide one to three month rolling forecasts of their service
requirements but our contracts with our clients do not generally provide for a committed
minimum volume of business or committed amounts of revenues.&#148;
</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><I>Form&nbsp;6-K filed February&nbsp;8, 2008</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>Financial Statements for the Nine Months Ended December&nbsp;31, 2007</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>Note 13 &#151; Transfer of Delivery Center to AVIVA</I></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><I>2.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note from your response to our prior comment 18 that you believe the transfer of your Sri
Lanka facility to AVIVA through the transfer of your ownership interest in WNS CS
is analogous to a termination of a contract with a client and not a discontinued business
operation of a component of an entity as defined in paragraph 41 of SFAS 144. However, we also
note that you disclosed revenues and pre-tax profit generated from this contract in your Form
6-K, which indicates that you are able to clearly distinguish the operations and cash flows of
this Sri Lanka facility from the rest of your company. Given the above, please explain to us
in more detail how you determined that this facility was not a component of an entity as
defined in paragraph 41 of SFAS 144. Your response should identify the lowest level at which
you clearly distinguish operations and cash flows, and if necessary, should reconcile this
level to the fact that you appear to separately track the operations and cash flows of your
WNS CS subsidiary.</I></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company advises the Staff that it has concluded that the operations of WNS CS were not a
component of an entity as defined in paragraph 41 of SFAS 144 as they were not clearly
distinguishable from the rest of its BPO operations. Under paragraph 41 of SFAS 144, a
component of an entity comprises operations and cash flows that can be clearly
distinguished, operationally and for financial reporting purposes, from the rest of the
entity.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Operationally, the Company managed WNS CS as part of its WNS Global BPO segment. WNS CS was
established as a separate legal entity at the request of AVIVA solely to facilitate a smooth
transfer to AVIVA in the event that AVIVA exercised its option to terminate the contract and
move the business processes provided by the Company in-house. If the Company was not under a
contractual obligation to AVIVA to set up a separate legal entity to perform the AVIVA
contract, the Company would have performed the AVIVA contract through its other subsidiary
in Sri Lanka, WNS Global Services Private Limited (&#147;<U>WNS Sri Lanka</U>&#148;). Other than the
AVIVA contract, the Company provided BPO services in Sri Lanka through WNS Sri Lanka. The
operations of WNS CS were not clearly distinguishable from the BPO operations of WNS Sri
Lanka or those of the rest of the Company. The Company believes the following factors
support this determination:</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>April&nbsp;22, 2008<BR>
Page 3</B>

</DIV>

<DIV style="margin-left:0px; text-indent:-0px; margin-top: 12pt"><FONT face="Helvetica,Arial,sans-serif" style="font-size:13pt; font-variant: SMALL-CAPS"><B>LATHAM
<FONT size="1">&#038;</FONT> WATKINS <FONT size="1">llp</font></B></FONT><BR><BR></DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>WNS Sri Lanka provides services to its clients under contractual agreements
that are similar to the contractual agreement between the Company and AVIVA, except for
the option to purchase the WNS CS Sri Lanka business that the Company had granted to
AVIVA.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The BPO services provided by WNS CS under the AVIVA contract are similar in nature,
bear similar degrees of risk and exhibit similar economic characteristics to other BPO
contracts entered into by the Company, including those performed by WNS Sri Lanka.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The degree of utilization of labor and capital per unit of process are generally
consistent across the BPO contracts entered into by the Company, including through WNS
CS and WNS Sri Lanka.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company utilizes similar WNS technology and telecommunications infrastructure
across its BPO businesses, including those conducted through WNS CS and WNS Sri Lanka.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prior to the transfer of WNS CS to AVIVA, WNS Sri Lanka and WNS CS were located in
the same building under a single lease agreement. Upon the transfer of WNS CS to
AVIVA, the original lease agreement was terminated and separate lease agreements were
entered into in respect of the premises occupied by WNS Sri Lanka and WNS CS,
respectively. The floor space allocated to WNS CS under the new lease agreement
following its transfer to AVIVA was however less than that initially allocated to WNS
CS under the original lease agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not all of the employees of WNS CS were transferred to AVIVA. Some employees
remained with the Company at their option and other employees of the Company who were
previously not part of the operations of WNS CS were transferred to AVIVA at their
option. Certain employees in Sri Lanka were interchangeable between WNS CS and WNS Sri
Lanka.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">From a cash flows perspective, the Company advises the Staff that the identifiable cash
flows associated with WNS CS are not largely independent of the cash flows of the Company&#146;s
total operations in Sri Lanka and, to a lesser extent, the rest of the WNS Global BPO
segment due to the significance of shared functions and services within the Company, as
outlined below:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Corporate office expenses including salaries and related costs of the Company&#146;s
senior management who invested time performing services related to the BPO operations
of WNS CS are not allocated to WNS CS.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Because WNS CS and WNS Sri Lanka were located in the same building, they shared
common costs, which included rental expenses for the shared premises, utility charges
and finance and administration support expenses. Each of WNS CS and WNS Sri Lanka has
to prepare standalone financial statements to satisfy their respective local statutory
reporting obligations. For purposes of</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>April&nbsp;22, 2008<BR>
Page 4</B>

</DIV>

<DIV style="margin-left:0px; text-indent:-0px; margin-top: 12pt"><FONT face="Helvetica,Arial,sans-serif" style="font-size:13pt; font-variant: SMALL-CAPS"><B>LATHAM
<FONT size="1">&#038;</FONT> WATKINS <FONT size="1">llp</font></B></FONT><BR><BR></DIV>

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>satisfying their respective reporting obligations, such shared common costs were
allocated between WNS CS and WNS Sri Lanka.</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Services of certain managers employed by WNS Sri Lanka also supported the operations
of WNS CS. Similarly, for purposes of satisfying their respective local statutory
reporting obligations, the salaries and related costs of such managers were allocated
between WNS CS and WNS Sri Lanka.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The final allocation of costs between WNS CS and WNS Sri Lanka were undertaken
annually and at the effective date of transfer of WNS CS to AVIVA to fulfill their
respective local statutory reporting obligations.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Furthermore, the Company evaluated the significance of the AVIVA contract performed by WNS
CS as compared to its business as a whole and concluded that the revenues and pre-tax
profits attributable to WNS CS were not quantitatively or qualitatively material. The
revenue and pre-tax profits attributable to the AVIVA contract are as follows:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Revenues from the AVIVA contract represented 1.9%, 3.3% and 1.1% of the Company&#146;s
total revenues for the years ended March&nbsp;31, 2007, 2006 and 2005, respectively.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Revenues from the AVIVA contract represented 1.8% and 2.7% of the Company&#146;s total
revenues for the three months ended June&nbsp;30, 2007 and 2006, respectively.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Revenues from the AVIVA contract represented 0.6% and 1.7% of the Company&#146;s total
revenues for the nine months ended December&nbsp;31, 2007 and 2006, respectively. WNS CS
was transferred to AVIVA with effect from July&nbsp;2, 2007.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-tax profits from the AVIVA contract represented 1.6% and 4.0% of the Company&#146;s
consolidated pre-tax profits for the nine months ended December&nbsp;31, 2007 and 2006,
respectively. The pre-tax profits from the AVIVA contract are based on the pre-tax
profits of WNS CS reported in its standalone financial statements prepared for local
statutory reporting purposes. The Company did not evaluate WNS
CS&#146; pre-tax profits on a regular basis throughout the year.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The reporting of the transfer of the AVIVA contract as part of continued operations
did not impact the Company&#146;s trend in revenue or earnings, its compliance with
regulatory or other contractual requirements, nor did it have any impact on the
Company&#146;s incentive compensation plans.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For the foregoing reasons, the Company believes that the operations of WNS CS were not
clearly distinguishable from its BPO operations in Sri Lanka and from its BPO operations
elsewhere and the lowest level at which cash flows are clearly distinguishable is with
respect to revenue and certain direct costs such as payroll within
the WNS Global BPO segment. The Company believes that
it would be impractical for it to view each contract with its clients as a component of an
entity as defined in paragraph 41 of SFAS 144.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>April&nbsp;22, 2008<BR>
Page 5</B>

</DIV>

<DIV style="margin-left:0px; text-indent:-0px; margin-top: 12pt"><FONT face="Helvetica,Arial,sans-serif" style="font-size:13pt; font-variant: SMALL-CAPS"><B>LATHAM
<FONT size="1">&#038;</FONT> WATKINS <FONT size="1">llp</font></B></FONT><BR><BR></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><I>General</I></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><I>3.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>The Tandy representations must come directly from the Company, not from your counsel on
behalf of the Company. Please provide these representations in a separate letter from the
Company in tandem with your next response, if the response is submitted by your counsel.</I></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company supplementally provides the Staff, as requested, in <U>Annex A</U> hereto its
representation letter.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">* * * * *
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Please contact the undersigned at (011)&nbsp;65-6437-5406 if you have any questions or require
additional information concerning the foregoing.
</TD>
</TR>

</TABLE>
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Very truly yours,<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">/s/ Min Yee Ng&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Min Yee Ng&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">of LATHAM &#038; WATKINS LLP&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">cc:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Ramesh Shah<BR>
Chairman of the Board<BR>
WNS (Holdings) Limited</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Neeraj Bhargava<BR>
Group CEO<BR>
WNS (Holdings) Limited</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Alok Misra<BR>
Group CFO<BR>
WNS (Holdings) Limited</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Kapil K. Jain<BR>
Ernst &#038; Young</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 18pt">Annex A
</DIV>

<DIV align="left" style="font-size: 30pt; margin-top: 6pt; font-family: Helvetica,Arial,sans-serif"><B>WNS</b></div>
<DIV style="font-size: 8pt; font-family: Helvetica,Arial,sans-serif; margin-left: 50px">Extending Your Enterprise
</DIV>


<DIV align="left">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="78%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><U><B>VIA EDGAR AND FACSIMILE
(202)&nbsp;772 9210</B></U><BR><BR>Securities and Exchange Commission<BR>
Division of Corporation Finance<BR>
Mail Stop 4561<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549<BR><BR>
Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kathleen Collins, Accounting Branch
Chief<BR><FONT style="margin-left: 74px">Jennifer Thompson, Staff Accountant</font><BR>
<FONT style="margin-left: 74px">Evan Jacobson, Staff Attorney</font><BR>
<FONT style="margin-left: 74px">David Orlic, Special Counsel</font>
</TD>

<TD align="left" valign="top"><DIV style="line-height: 18pt;">April&nbsp;22,&nbsp;2008</DIV></TD>

<TD align="left" valign="top"><DIV style="font-size: 7pt; line-height: 16pt; font-family: Helvetica,Arial,sans-serif">
LONDON<BR>IPSWICH<BR>NEW&nbsp;YORK<BR>COLOMBO<BR>GURGAON<BR>MUMBAI<BR>NASHIK<BR>PUNE</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>Re:&nbsp;</B></TD>
    <TD width="1%"><B>&nbsp;</B></TD>
    <TD><B>WNS (Holdings) Limited</B><BR><B>
Form&nbsp;20-F for the Fiscal Year Ended March&nbsp;31, 2007 filed June&nbsp;26, 2007</B><BR><B>
Form&nbsp;6-K filed February&nbsp;8, 2008</B><BR><B>
File No.&nbsp;1-32945</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference is made to the Company&#146;s responses to the Staff&#146;s comment letters dated February&nbsp;28,
2008 and April&nbsp;8, 2008. The Company hereby acknowledges that:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company is responsible for the adequacy and accuracy of the disclosure in the
filing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Staff comments or changes to disclosure in response to Staff comments do not
foreclose the Commission from taking any action with respect to the filing; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company may not assert Staff comments as a defense in any proceeding initiated
by the Commission or any person under the federal securities laws of the United
States.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Very truly yours,<BR>
<BR>
<B>WNS (Holdings) Limited</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Alok C. Misra</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Alok C. Misra</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Group CFO</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 7pt; font-family: Helvetica,Arial,sans-serif">WNS (Holdings) Ltd<br><B>22
Grenville Street<br>St. Heller, Jersey<BR>Channel
Islands<BR></b>www.wnsgs.com

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



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