Mastek Ltd.http://www.mastek.com

January 13, 2004January 13, 2004

Financial Performance

First Half (2003-2004) Guidance

Total Income Rs. 186.9 Cr. Rs. 184 Cr.

Net Profit Rs. 7.1 Cr. Max Rs. 7 Cr.

Income Vs. Profit

99.191.3 91.4

95.5

16

2.8 3 4.1

4.3%3.4%3%

16.2%

0

20

40

60

80

100

120

Jan. - March '03 Apr. - June '03 July - Sep. '03 Oct. - Dec. '030

2

4

6

8

10

12

14

16

18

Income Profit Net Margins (%)

Rs. Crs %

Operating Cashflows

4.4

15.613.8

11.6

0

2

4

6

8

10

12

14

16

18

Jan. - March '03 Apr. - June '03 July - Sep. '03 Oct. - Dec. '03

Operating Cashflows

Rs. Crs

Financial Services

40%38%

30%

25%

0

5

10

15

20

25

30

35

40

45

Jan. - March '03 Apr. - June '03 July - Sep. '03 Oct. - Dec. '03

% share of Revenue

Maintenance Revenue

25%

30% 29%31%

0

5

10

15

20

25

30

35

Jan. - March '03 Apr. - June '03 July - Sep. '03 Oct. - Dec. '03

% share of Revenue

Highlights Strategic outsourcing relationship with BT subsidiary Syntegra

Winning one of the largest projects in terms of size and tenure by an Indian IT services provider

Preferred vendor relationship with F-500 Computer hardware manufacturer

Dedicated offshore development centre for ePolicy

Breakthrough in Health Care domain

Initiation of partnership with Capita in the BPO space

Financial Discipline

Receivables under control with DSO at 65 days

Healthy cash flows with Cash & Cash equivalents worth Rs.74 crs. against Rs.59 crs. In the previous quarter

Virtual Debt free status

Operations OverviewOperations Overview

Strategy for market penetration

New name Sales

Account Progression

Insurance Vertical

Strategy for market penetration

New name Sales

Focused approach to identified market segment is improving the hit ratio and size

of deals e.g. NHS deal as a consortium partner of Syntegra

The Sales team grouped around the market focus

Account Progression

Progressed identified accounts like a Large Asset Management Company to

million+

Have put together focused strategies to similarly grow a large System Integrator,

a Technology Hardware Major, etc acquired this year

Insurance Vertical

Insurance Practice Line

Insurance Centre

Rolling out global implementation for FT Insurance

major

Framework based approach helping in progressing

sales funnel

Outcome

Move towards sustainability

Healthy pipeline in large scale deals – Insurance,

Outsourcing space

Movement from project/small to capacity/big

Increased order backlog to Rs.197 crs

Update on Partnerships

Deloitte JV : JV strength touched 450 persons Six month revenue at Rs.55 crs and PBT of Rs.16 crs

Capita JV : FIPB approval received for Investment in the entity by Capita Initiated transition work for internal work of Capita. Work

would begin in next quarter. Offshore center forming part of new bids by Capita

Carreker JV : First BPO LOI received from a major Bank. Project for Carreker’s IT job has begun

Capita Mastek BPO : The Genesis Mastek established a world-class BPO facility in Mumbai : March 2003 In line with our philosophy of working through Partners, Mastek sought a quality

partner who could complement Mastek’s strengths Capita (existing long-term IT customer) was identified as such a partner Contracted with Capita for a Joint Venture, Capita Mastek BPO Ltd.

Onsite-Offshore expertise Domain Expertise Project Management skills Technology leadership

MASTEK Leader in UK BPO market Financial / Insurance services expertise Multi-channel contact centers Transaction Processing HR, Payroll, Administrative services

CAPITA MASTEK J.V. BPO Execution – Transaction Processing & Call centers Cost-effective operations & quality consciousness Process management and re-engineering skills Effective combination of IT & BPO skills

UK’s leading provider of integrated professional support service solutions

Founded in 1984, now with over 17,000 employees at more than 200 offices in the UK

Robust financials, with a forecast turnover of $1720 Mn. (Dec 2002 : $1440 Mn.)

Interacts with 33 million people in the UK Administration & correspondence for more than 6 million shareholders Produces nearly 14 million pay slips Deals with 21 million contacts via 11 call and contact centers Handles 750,000 household, travel and motor claims dealing with 3 million calls

About Capita – Our JV Partner

Market Rank (2002) Mkt. Share Rank

(2001) Mkt. Share

UK BPO Market Overall 1 24% 1 19%Local Government 1 25% 1 24%Central Government 3 9% 3 9%Insurance & Fin. Services 1 20% 1 26%

Capita Mastek BPO : CapabilitiesAreas Capabilities

Infrastructure Fully equipped operations center with administrative and support infrastructure, local connectivity redundancy, backup power arrangements, clear scale-up plans

Technology Image-based workflow processing, web-based transaction processing,

Management Expertise in setting up and managing BPO units, Successful track record of partnerships, Strong project management skills, Global client relationships, Transparency

Process SLA-driven operations, strong quality focus, well-defined procedures, process orientation, control culture, knowledge transfer methodology, business continuity & disaster recovery procedures

People Domain and process experts, well defined training, orientation and career development programs

Thank YouThank You

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