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V. Rishi Kumar

`With the focus on e-governance, we see the possibility of partnering with governments in some projects.'

Hyderabad , March 2

MASTEK, a systems integrator and software solutions provider, has sewn up plans for expansion that would see the company locating its first centre in South India at Chennai, growing its business process outsourcing operations, moving faster into the overseas markets and expanding its domestic exposure.

The Chairman of Mastek, Mr Ashank Desai, told Business Line that the company, which has about 2,800 people across multiple locations in India and overseas centres, with 25 per cent people onsite, is in the process of locating a centre in Chennai and expanding its Mumbai centre with an investment of around Rs 50 crore.

Mr Desai said: "Hyderabad was also one of the centres under consideration for expansion. However, we decided on Chennai to locate another centre to complement our expansion plans. While the expanded Mumbai centre would be ready by next year, we will continue to explore opportunities for growth."

"Areas such as financial services, transportation, insurance and governance, where we have deep domain expertise, offer scope for offering solutions in the domestic market. For instance, with the focus on e-governance, we see the possibility of partnering with governments in some projects. In the areas of insurance, we are working with New York Life and Birla Sun Life and several other insurance companies," he said.

"We have reserves of about Rs 200 crore and are open to acquisitions. But would not like to comment when this would happen. We are debt-free and have the capability to raise funds any time we would like to. Mastek is open to overseas listing that would enable us to scale up the value chain," Mr Desai added.

"Alongside these initiatives, we have slowly forayed into business process outsourcing and see scope for expanding this area but with a focus on high-end technology support cum financial processing work, which is amongst the fastest growing business in the US," he said.

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