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April 5, 2001
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Money > Business Headlines > Report April 5, 2001 |
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Mastek pens blueprint for growthAnusha Subramanian Software services company Mastek has unveiled a six-pronged growth strategy. Ashank Desai, chairman and managing director, Mastek, said, of this, three of them are in short-term in nature and have already been executed." Desai said the company is focussing on alliances for offshore business. "But we are looking at doing offshore business only with Fortune 1000 companies as it leads to sustainability in value." Analysts said offshore ventures may end up being a mainstream delivery model. "Globally, offshoring is set to deliver growth of over 50 per cent for the next three to four years, and India will continue to be the biggest beneficiary of this which has again been bolstered by the US slowdown. Indian information technology (IT) companies with scalable offshore capacities and strong client references will be best positioned to grow," said an analyst. When asked whether all these are an effort towards curbing the global recession, Desai said, "The US slowdown is temporary and the strategies we have formulated are long term strategies and not an outcome of the US slowdown." He, however, did agree to the fact that these strategies would certainly help overcoming this problem in the short term. Mastek's second strategy is to concentrate on the fast growing IT sectors namely customer relationship management (CRM), e-CRM, e-business areas, computer telephony interface and embedded software development. Thirdly, the company plans geographical diversification. "We want to take a wider look. At present, the US market contributes 50 per cent to Mastek's turnover. We want more global presence. Our subsidiary model strategy is an effort in this regard," said Desai. The next three strategies are in the medium term. The company feels that acquisitions and mergers are vital for future growth. To find suitable companies for mergers and acquisitions, Mastek has formed a special cell which is headed by Suhas Tadkode. Mastek's proposed American depositary plans are being guided by mergers and acquisitions strategy. Its fifth strategy focuses on alliances. The sixth strategy is building domain expertise. Mastek has already built its domain expertise in financial services in Singapore and plans to make this global. Powered by ALSO READ:
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