Apart from the JVs, the company will also look at probable acquisitions, even though the IT major is not in talks with any companies nor has shortlisted any firm for acquisition.
"The way we are moving ahead differentiates us, as we are growing in niche and high-value sectors. Our growth is through partnerships and JVs, and the way we relate with our partners," Ashank Desai, Mastek chairman and founder told Business Standard in an interview.
The software major would look at tie-ups for further growth. The JV model enables the company to concentrate on its core competencies, while the rest of processes would be taken care of by partners who are experts in that particular field, he said.
Earlier, Mastek had entered into a JV with Deloitte Consulting for software development, and later with Carrettek of US for dedicated infrastructure for business processing.
The company will venture into similar JV, and also look for acquisitions similar to that of Entegram. Mastek had acquired Entegram LLC, a company specialising in customs application development, application support and maintenance, in October this year for $2 million.
Mastek is also strengthening its focus on insurance and re-insurance sectors and has developed competencies in insurance functional areas, with the primary focus on distribution management, including point of sale, agency portals and agency compensation.
It had recently opened its third facility in Pune, with an investment of Rs 25 crore (Rs 250 million) and had announced intentions to recruit 520 professionals over the next 12-month period for the new centre.
The centre, which is the company's ninth in the country, is Mastek's largest in Pune and third largest in the country.
Desai also said that the company's expansion projects, under which it was in the process of building a 1,000 people capacity in Mahape, Navi Mumbai with a Rs 50 crore (Rs 500 million) investment, is expected to be completed soon.
