The Next 50#83 Mastek

FY14 marked a growth of nearly 2% for Mastek with its revenue standing at `910 crore compared to `894 crore in the previous year. The growth in the Asia Pacific region stands at 6%, driven by good level of wins from the Indian government. It stands at #83, rising the ladder by 3 positions.

In Q4, the company has seen a drop in revenue in North America due to re-prioritization of client's business. It also had a strategic win with the UK Government through G cloud platform.

The company's strong IP-based solutions for government and insurance business verticals continue to drive new client wins and deeper engagements with existing clients. The company managed to add 13 new clients this year taking the total client count to 126 as of March 31, 2014.

The company's strategy of sustained product development in the insurance segment (both in P&C and L&A) seems to be paying off. The opportunities in the government segment in the UK and India continue to remain attractive and the company will continue its sales & marketing spends to take advantage of the upcoming opportunities.