The Hindu Business Line : Mastek set to bid for more UK projects

MASTEK is betting on large projects, especially in the UK, to fuel growth in the next few years. The company, which is currently implementing a $60-million contract for the UK's National Health Services (NHS) in partnership with British Telecom-Syntegra, said that plans are now being firmed up to bid for larger projects in the UK, including Government projects.

Speaking to newspersons, the Chairman, Mr Ashank Desai, said that the company would focus on the insurance, banking and financial services sector where it has established products and solutions to push growth in the coming years.

"We are also looking at growing our BPO business,'' he said, adding that the company already has joint ventures with Capita Group Plc and with Carreker, called Carretek, the latter providing BPO services in the payment technologies area.

"We are already involved in large projects in the insurance space in the UK and will leverage our expertise to tap the market further.''

Mastek, meanwhile, has kicked off its new development centre in Pune at an estimated investment of Rs 8 crore and is all set to step up work out of Pune, according to Mr Desai.

The 17,000-sq ft workspace will employ 223 persons, who will largely focus on product development. The centre will focus on the existing clients in the UK and be the base for emerging contracts from there. "We also plan to shift projects out of Mumbai to the new facility,'' Mr Desai said.

The company is now preparing for expected growth in business and is adding staff strength.

Mastek recruited 600 persons last year and an additional 100 in the first quarter of this year. "We are now working at new recruitments."

The company already employs over 2,400 people. The company is now also in the process of expanding operations to other cities and is likely to set up shop in Chennai, to begin with. "The idea is to be as close to clients as possible,'' said Mr Desai.

Mastek recorded profit of Rs 30 crore on revenues of Rs 400 crore last year.

With year-on-year growth of 30 per cent last year, the company is now gearing up to beat overall industry standards, Mr Desai said.