34. Mascot Systems: Impressive Debut

This was the first full financial year for Bangalore-based Mascot Systems in its current avatar. This erstwhile delivery arm of iGATE Capital was spun off as an independent software solutions and services company, and by the end of the fiscal, it had revenues of Rs 340
crore, up a whopping 376% from the previous year’s Rs 72 crore. Net profits also grew manifold, though operating margins fell from 21% to 16%.

During fiscal 2000-01, Mascot launched its finance, banking and insurance practices, which contributed 29% of revenues in the fiscal under consideration. The biggest revenue earner, however, was manufacturing, which contributed 41% to the
topline. About 19% revenues come from the services vertical. The company’s strengths lay in application management outsourcing, which delivered 32%. E-business solutions brought in another 26%, while customized and Web-enabled solutions made up for 17%. Mascot’s development model was tilted towards on-site development, which accounted for 82% of software export revenues. The US contributed 66%, while Japan had a 11% share.

  • Opened fourth Indian software development center in Bangalore
  • Proximity development center set up in Singapore to service HP in the Asia-Pacific region
  • Achieved SEI CMM Level 4 certification
CEO: Gerhard Watzinger
START-UP YEAR: 1993 PRODUCTS & SERVICES: Software solutions and services
COLLABORATIONS: Broad Vision, Versata, BEA Systems EMPLOYEES: 1,662
Jakkasandra, Off Sarjapur road, Koramangala Extension, Bangalore 560034
TEL: 5521701, 5521706 FAX: 5521704
WEBSITE: www.mascotsystems.com

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