"We are scanning Europe to increase our presence in a considerable manner," Ashank Desai, founder and chairman, Mastek Ltd, told PTI. Mastek is now present in the US, UK, Singapore, Malaysia, Germany and Japan. European business currently contributes more than 60 per cent to its revenue.
"The company, which is currently implementing $65 billion National Health Service Project in the UK, is moving up in the value chain both in terms of its solutions and also in global ratings," Desai said, adding, "Our project orders are being expanded in size in view of our performance in this project."
Mastek had earlier successfully implemented a project to ease London's traffic congestion.
The company is also taking special measures to retain its niche area in insurance. The company's focus on insurance right from the beginning is now paying off, said Desai who has recently been elected as regional president Indo-American Chambers of Commerce.
"We will further strengthen our expertise in insurance which forms a major chunk of our financial services vertical," he added.
To this end, Mastek is also on a hiring spree. While its headcount was at 2,700 in the beginning of the year, it now stands at over 3,000.
"We are adding 400/500 people per annum including this year," Desai said. The intake of professionals may be a little higher as currently the company has embarked upon an expansion on domestic front, hinted Desai.
Mastek is setting up a 100-seat centre at Mahendra city in Chennai while it recently opened a Rs 25 crore (Rs 250 million), 525-seater third facility in Pune.
It is also augmenting headcount at its facility at Mhape, Navi Mumbai. Mastek has a target of touching $50 billion exports by 2008. It had revenue run rate of Rs 453 crore last fiscal.
"Our profits in Q2, this year could be between 15.3 to 16.3," Desai said.
