Mastek's largest facility to come up in TN capital

Mumbai, Dec 18: Mastek Limited, the city-based international software solutions company, is all set to establish its largest facility in Chennai involving a total investment of about Rs 250 crore.

Addressing visiting journalists from Chennai, Chief Financial Officer (CFO) Jamshed Jassawalla said the facility would come up at the Special Economic Zone in Mahindra City, near Chennai, on an area of 15.5 acre.

The "Bhoomi Pooja" (ground breaking ceremony) would be held on January 14 and the first phase of the project involving 1000 seat capacity would be completed in 12 to 18 months at an investment of Rs 50 crore.

On its completion in three years, the five lakh sq ft project with seating capacity for 5,000 employees would become Mastek's largest facility in the country, Mr Jassawalla said.

Presently, Mastek's Mumbai facility was the largest with a headcount of 3,500.

The Chennai facility would concentrate on mainframe technologies and in the first phase, the company expected to notch up orders worth 25 to 30 million US Dollar.

"We are not for volume game...we will develop as and when the business needs grow," he added.

Mastek would formally start its operations in Chennai in January next at a hired 6000 sq ft temporary site with a headcount 80.

The headcount would be increased to 100 in three month's time, he said.

"We want the best kind of people and Chennai has the right profile of people..traditionally.

In the last seven to eight years, Chennai has become a centre for mainframe technology, catering to overseas clients," Mr Jassawalla said.

Mastek, which was shot into fame in the United Kingdom after it had successfully presented a project to ease traffic congestion in London city, was the only Indian company operating Government services in the UK, Mr Jassawalla said. He said Mastek would continue to focus on government services and Insurance sector and had chalked out plans to acquire 10 million dollar companies, specialised in financial services, both in India and abroad. "We have identified one or two companies, but the deal is yet to be materialised", he said.

For government businesses, the company was looking for collaborative approach with consortium partners and solution development competencies in new technologies. "We have planed to sign up more partnerships, expand geographies and strengthen differentiation", he said.

Mastek, which was specialising in delivering World-class solutions for the Insurance industry was expected to get orders from atleast three International Insurance companies, having partnerships with Indian companies, Mr Jassawalla said.

Stating that delivery on time was the hallmark of Mastek, he said when world-wide only 28 per cent of the projects were delivered on time within the budgeted cost, Mastek delivers 90 per cent of its project within the time frame and budget cost.

The revenue from government business has risen from Rs 1,860 million during 2004-05 to Rs 2,431 million, registering 31 per cent growth and from Insurance companies, it rose from Rs 996 million to Rs 1,436 million, marking a growth of 44 per cent, he added.

UNI WS VR 1353 Mastek, which was shot into fame in the United Kingdom after it had successfuly presented a project to ease traffic congestion in London city, was the only Indian company operating Government services in the UK, Mr Jassawalla said.

He said Mastek would continue to focus on Government services and Insurance sector and had chalked out plans to acquire 10 million dollar companies, specialised in financial services, both in India and abroad. "We have identified one or two companies, but the deal is yet to be materialised," he added.

For government businesses, the company was looking for collaborative approach with consortium partners and solution development comptencies in new technologies. "We have plans to sign up more partnerships, expand geographies and strengthen differentiation," he said.

Mastek, which was specializing in delivering world-class solutions for the insurance industry is likely to get orders from atleast three International Insurance companies, having partnerships with Indian companies, Mr Jassawalla said.

Stating that delivery on time was the hallmark of Mastek, he said when worldwide only 28 per cent of the projects were delivered on time within the budgeted cost, Mastek delivers 90 per cent of its project within the time frame and budget cost.

He said the revenue from government business has risen from Rs 1860 million during 2004-05 to Rs 2431 million, registering 31 per cent growth and from Insurance sector, it rose from Rs 996 million to Rs 1436 million, marking a growth of 44 per cent. Mastek gets

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