MASTEK Keeping Up The Pace

s. Now, its US presence will help it in a listing there.

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The company earned a revenue of Rs 247
crore in the last fiscal as compared to Rs 134 crore in the previous year. At Rs
241 crore, software exports contributed a whopping 98% of Mastek’s total
revenue, a growth of 84% as compared to Rs 130 crore in the previous year. Also,
it increased its sales on the domestic front by 27%, garnering Rs 6 crore out of
it.

Services contributed 96% of the
revenue. Hospitality, entertainment, healthcare, insurance, media and
transportation were the sectors that together made up for around 40%. Mastek has
been a strong player on the telecom
front too, which contributed around 30% of the revenue, while banking and
finance contributed around 15%.

The company has been able to do well in
the US markets. It bagged 63% of its software exports revenue from this region.
It is among the few players to have ventured into CRM solutions, having
a track record of over 100 projects in this area. Front-end solutions such as e-CRM,
CRM and internet currently contribute over 40% of Mastek’s turnover. Mastek
also announced the setting up of an internet competency center with an
investment of $1 million. As part of its quality
initiative, the company achieved the SEI-CMM Level 4 while growing at a CAGR of
60%.

With corporate governance practices in place by
inducting external members into the board and having a multinational executive
board, Mastek is all set to take on the global markets. The company, which
already adheres to the US generally accepted accounting principles (GAAP), has
also decided to tap the US bourses. It has also decided to evolve a new model of
linking valuation to knowledge. And the strategy for moving up the value chain
is to follow a center-subsidiary business model leveraging on Mastek’s global
presence, local management and proximity to the customer.

Fact Sheet

START-UP YEAR: 1982 PRODUCTS AND SERVICES: Software
Consultancy, Turnkey Projects EMPLOYEES: 788 BRANCH OFFICES: 15 ADDRESS: Unit
No. 106, SDF IV, SEEPZ, Andheri (E), Mumbai - 400 096 TEL: 829 0635  FAX:
829 0557 WEBSITE: www.mastek.com