MASTEK: Moving up, the JV Way

Strategic tieups with three US majors Commissioned facility in Mahape Launched BPO operations through a wholly-owned subsidiary

After two fairly flat years, Mastek bucked the trend in 2002-03 and saw
revenues surge. BFSI and PSU/government were the mainstays, contributing Rs
118.84 crore and Rs 114.14 crore, respectively. Even education and telecom did
not lag behind–totting up Rs 24.45 crore and Rs 19.01 crore, respectively. The
sudden windfall in Mastek’s fortunes could be attributed to the setting up of
three strategic relationships with US-based majors–a Fortune 1000 HR and
technology outsourcing major, a banking domain consultancy company (leading to
the formation of Carretek) and an IT services major. Fidelity and a Global Top 5
airline carrier were among the 30-odd new clients added to its existing client
base. On the other hand, Mastek maintained its dominant position in the UK with
the implementation of the London Congestion Charging project, the largest .Net
project in the world.

CMD: Ashank Desai Start-up year: 1982 Products & services: IT services, solutions Employees: 1,703 Address: Unit #106 SDF IV, SEEPZ, Andheri (East), Mumbai 400096 Tel: 56952222, 28247999 Website: www.mastek.com