Mastek launches new corporate Brand Identity with ‘Prism logo’

Company Brief

Mumbai, July 29, 2008

Mastek Ltd, a leading IT solutions player with global operations in providing new technology and IP-led enterprise solutions to insurance, government and financial service organizations worldwide, has today launched its new brand identity.

The new brand identity is a reflection of the company’s vision of being a high-end firm specializing in building IT applications that enables and empowers customers in their business innovation and transformation initiatives. Extensive research, interviews with customers, partners, employees and potential recruits were conducted for over six months before arriving at the new identity in collaboration with a specialist brand consulting firm, Red Palm Branding, which was involved in the research and design.

Speaking on the occasion, Mr. Sudhakar Ram, Chairman and Group CEO, said “Just as a prism has the power to transform a beam of light into a brilliant spectrum of its constituent colours, Mastek represents the power to take our clients’ ideas and give them life as fully functional systems that support their transformation initiatives. Viewed the other way, Mastek has the ability to bring together diverse constituents, points of view and ideas to create enterprise applications that are laser-focused in their drive to create business impact.”

Internally, too, the new brand identity is tied in very closely with the Values of the company – ‘creativity’ which is one of the most important Values at Mastek. For an employee, the Prism is an acknowledgement of the creativity and innovation that each one can bring to the table. It symbolizes freedom and provides a platform for each individual to bloom and fulfil his or her potential.

Mr. Ram further added,” We are playing a game that is differentiated from the cost arbitrage model which has been the norm for the Indian IT industry. The new brand identity will help assert Mastek as a leader of the Wave 3 IT companies out of India and will also be a magnet to attract the best talent who believes that we have the skill sets to compete with the best in the world in order to make a global impact with IT.”

This new identity is being applied to all aspects of Mastek’s business, including acquisitions, mergers and other business initiatives. Mr Ravindra Kadam who heads Mastek Design School sums up the power of the new identity rather nicely: “Everyday, I see myself as the prism that turns sunlight into a glorious rainbow!”

Recently, Mastek announced their June quarter results, in which the PAT figure stood up at 63% year-on-year at Rs 39 crore. The total income for the quarter was up 34% year-on-year at Rs 250 crore and the EBITDA margin expands from 14.7% to 19.9%. FY2008 revenues were up 23% at Rs 916 crore, while the PAT figures for the year were up 47% at Rs 126 crore with an EPS at Rs. 44.2. Mastek expects the growth outlook for the next financial year to be driven by the addition of 21 new accounts, the execution of Swift2Move™ solution with Thales UK, an expanded order book (to Rs 453 crore) and robust opportunity pipeline, a phased release of their new SOA-based Elixir™ enterprise solution for the insurance vertical, a full contribution from the Vector and STG acquisitions and continued benefits from productivity & efficiency enhancement initiatives.

For further information, please contact:

Corporate VoiceI Weber Shandwick

Manisha Keshwa

Telephone: +91-22-40311241

Mobile: +91-9819965853

Email: manishak@corvoshandwick.co.in