The Hindu Business Line : Mastek betting big on US

Mumbai, July 30 Mastek Ltd expects the US to account for almost half of the firm’s revenues in the next three years as the credit crunch there does not have a direct impact on the city based company’s chosen areas of business.

The company is keen to have a 50:50 mix going forward, where in 50 per cent revenues would be from US with the remaining coming from other geographies, the company Chairman and Group CEO, Mr Sudhakar Ram, said on the sidelines of a news conference .

US market

Currently, the US contributes around 30 per cent to Mastek’s revenues, while the remaining comes from Europe and rest of the world. UK has been a stronghold for the city-based company that derives most of its revenues from the financial services (including insurance) and government space.

“The government and insurance verticals have been largely insulated from the happenings in the US; if anything, there has only been a second tier impact,” said Mr R.S. Desikan, Group CFO and Finance Director.

Doubling revenues

Mastek intends to double revenues from India to four percent (of overall revenues) by this fiscal end, added Mr Desikan.

Separately, the company has earmarked about $1 million for rebranding itself; it has launched a new corporate identity with a ‘prism logo’.

The rebranding exercise would be completed in the next 5-6 months, Mr Desikan said.

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