31. Mahindra BT: Some Smiles, Some Tears

DQI Bureau
New Update

It was an eventful year for this Pune-based software services major, one which saw it post a growth of 66%, against a relatively lackluster 36% in the previous year. But there was the downside to the year too, as long-drawn plans to enter the capital market went bust yet again in the shadow of the slowdown. A successful IPO would have made for a higher valuation than its parent in India, Mahindra &

Mahindra. Nevertheless, its British parent British Telecom assured it of a business of at least Rs 720 crore for the next three years.

The company earned Rs 389

crore, up from Rs 234 crore in 1999-00. And exports remained the near complete

gameplan, notching up 96% of the revenues. Working on a 67-33 onsite-offshore model, Mahindra BT saw Europe emerge as the biggest contributor, bringing in 81%–however, this predominance of Europe was easily attibuted to the fact that most of the work done went to British Telecom, the other JV partner. The tieup with US-based Axiom was a highlight, aimed at entering the billing mediation solutions segment. A third development center was also set up, in


  • Strong financial and technological backing from both parents
  • Focus remained Europe-centric, thanks to a majority bulk of the work being done for parent British Telecom
  • R&D, consultancy and billing software markets to be tapped after tieup with Axiom
MD & CEO: Kiran Deshpande

START-UP YEAR: 1986 PRODUCTS & SERVICES: Software services

FINANCIAL COLLABORATIONS: Mahindra & Mahindra (57%), BT (43%)

BRANCHES: 17 ADDRESS: Sharda Center, Off Karve Road,

Erandvana, Pune 411004

TEL: 4018100 FAX: 5424466  WEBSITE: