Mastek to invest Rs 600-mn in delivery centre

Chennai: Mastek will invest Rs 60 crore in the first phase of its 15-acre software delivery centre in Mahindra City, 45 km south of Chennai.

The first building will be ready by September, and three more are to be constructed in phases. When completed, the facility will have 7,000 employees working for Mastek in four years.

In the first phase, Mastek plans to have around 1,500 employees. Chennai will be the future growth for Mastek in terms of delivery centre in India. The Chennai facility will work on insurance and government sectors — two major focus areas for Mastek.

There is no space left in Mumbai and Pune for expansion and Chennai was the first choice due to the presence of good talent, according to the company’s Group CFO and Director Finance, Mr R.S. Desikan.

At present, the Rs 810-crore company has 4,000 employees globally. It has two centres in Mumbai; one in Pune; two in the UK and three in the US, he told newspersons.

Mr Desikan said the integration of the US-based System’s Task Group, which Mastek’s US subsidiary MajescoMastek acquired in March, was fully over.

In July 2007, the subsidiary acquired a 90 per cent stake in Vector Insurance Services, a US-based technology solutions provider and third party administrator. The balance 10 per cent stake is with TransAmerica, he said.