Hexaware Technologies : On a Safe Path

Despite external pressures and customers having pulled back their spending, Hexaware
posted over 12% growth in revenues over H1 FY 08. Performance in terms of
operating margins improved considerably indicating operational efficiencies and
effective optimization measures.

Having already verticalized the operations into BFSI and transportation, and
Hexaware now laid special emphasis on emerging verticals like healthcare, pharma
and manufacturing. As a result, the subsidiary Risk Tech won three new
consulting and implementation contracts in the UK and west Asia.

The first phase of Hexawares Chennai development center became operational
and now houses around 600 employees. The first phase of its Nagpur campus is in
the final stages of completion and will soon begin BPO operations. The company
is also planning a bigger facility in Mexico to house about 200 employees, with
focus on testing services.

Over the past six months, Hexaware considerably strengthened its management
team and filled up some key positions. PR Chandrasekhar, who headed the North
America and Europe business for Wipro Technologies, joined as the new CEO in
June 2008. Rajiv Pant took over as the president and head of North America, N
Nataraj became the CIO, and Pratik Agarwal joined in as the new CFO.