Mastek : Q1FY16 Total Income at Rs. 139.1 crore

• EBITDA was at Rs 16.6 crore; 11.9% of Total Income
• 5 client wins during the quarter
• 12 month Order Backlog stood at Rs. 212.7 crore

Mumbai, India - 16th July 2015: Mastek, the technology solution provider for digital transformation programs in the Government, Retail and Financial Services worldwide, announced today its financial results for the first quarter of FY16 post the demerger of the Insurance Products and Services business.

Review of financial performance for the quarter ended 30th June, 2015

On a quarter-on-quarter basis:

• The operating revenue was Rs 133.3 crore during the quarter under review as compared to Rs 276.1 crore during the previous quarter.

• Total income was Rs 139.1 crore during the quarter under review as compared to Rs 277.3 crore during the previous quarter.

• The Company reported EBITDA of Rs 16.6 crore (11.9% of total income) in Q1FY16 as compared to Rs 14.8 crore (5.3% of total income) in Q4FY15.

• Net profit stood at Rs 4.4 crore in Q1FY16 as against Rs 6.4 crore in Q4FY15.

Operating highlights

• New accounts billed during the quarter : The Company added 5 new clients during Q1FY16. Total client count as of 30th June, 2015 was 69 (LTM) including clients of Indigo Blue Consulting acquired during the quarter.

• 12m Order Backlog:Mastek's 12-month order backlog was Rs 212.7 crore ($33.4mn) as on 30th June, 2015 and in constant currency stood at Rs 197.5 crore ($34.0mn) as compared to Rs 215.1 crore ($34.4mn) at the end of Q4FY15.

• Employees: As on 30th June 2015, the company had a total of 1,349 employees, of which 918 employees were based offshore in India while the rest were at various onsite locations outside India.

• Billable utilization: The Company's billable utilization stood at 80.4% during the quarter.

• Acquisition Update: During the current quarter, Mastek (UK) Limited, UK, a wholly owned subsidiary has signed a Share sale and purchase agreement dated 30th April, 2015 (the closure date) with shareholders of IndigoBlue Consulting Limited to acquire 100% stake in IndigoBlue Consulting Limited from 1st May, 2015. The consideration for the acquisition comprises a fixed consideration of GBP 2.25 million (Rs.2,238 lakhs) plus a contingent consideration based on achievement of revenue, profit and retention targets payable over the next 3 years .

• Cash & Cash Equivalents:As on 30th June 2015 , the total cash/cash equivalent stands at Rs 155.8 crore, this includes investment of Rs.18.8 crore in Majesco USA.

• Legal Practice Technologies JV (LPT):Veyo, the online conveyancing platform from the JV of TLS and Mastek, went live in the quarter. The rollout has commenced with a pilot group of solicitors. It is expected that the platform will be rolled out in regional stages for registered users in England and Wales.

Commenting on the results, Mr. Sudhakar Ram, Managing Director & Group CEO, Mastek, said: "The Indigo Blue acquisition is a significant addition to Mastek's Agile delivery capabilities. We see synergies between Indigo Blue and Mastek in cross leveraging capabilities with their combined customer base. The LPT JV is well poised to deliver revenues, after the soft launch, in the next few quarters. Mastek's revenue this quarter was steady, but we see growth happening over the second half of the year as optimism returns to UK market with the new government in place with a majority."

About Mastek

Mastek is a publicly held (NSE: MASTEK; BSE: 523704) leading IT player with global operations providing enterprise solutions to government, retail and financial services organizations worldwide. With its principal offshore delivery facility based at Mumbai, India, Mastek operates in the UK and Asia Pacific regions. Incorporated in 1982, Mastek has been at the forefront of technology and has made significant investments in creating intellectual property, which along with proven methodologies and processes, increase IT value generation to its customers through onsite and offshore deliveries. For more information and past results & conference call transcripts, please visit our web site www.mastek.com (and/or the Investors section at http://www.mastek.com/investors.html). Updated disclosures regarding corporate governance may also be accessed in the web site's Investors section at: http://www.mastek.com/investors/corporate-governance.html.

Investor / Analyst contact: Media Contact

Asha Gupta Sanjay Mudnaney

Christensen IR Mastek Ltd

+91-22-4215-0210 +91-22-2824-7827

agupta@christensenir.comsanjay.mudnaney@mastek.comsanjay.mudnaney@mastek.com Investor_grievances@mastek.com investor.relations@mastek.com

distributed by