Mastek : Q2FY16 Total Income at Rs.137.0 crore

• 11 client wins during the quarter
• 12 month Order Backlog increase by 5.4% to Rs. 224.2 crore

Mumbai, India - 15^thOctober 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 second quarter of FY16.

Review of financial performance for the quarter ended 30^thSeptember, 2015

On a quarter-on-quarterbasis:

• The operating revenue was Rs131.6crore during the quarter under review as compared to Rs133.3 crore duringthe previous quarter reflecting a decrease of 1.3% in rupee terms and a drop of 3.3% in constant currency terms.

• Total income was Rs137.0crore during the quarter under review as compared to Rs 139.1 crore during the previous quarter, down 1.5% on Q-o-Q basis.

• The Company reported EBITDA of Rs8.9crore (6.5% of total income)in Q2FY16 as compared to Rs16.6 crore(11.9% of total income) in Q1FY16.

• Net profit stood at Rs 2.7 crore in Q2FY16as againstRs4.4 crore in Q1FY16.

For the half year ended 30^thSeptember, 2015:

• The operating revenue was Rs264.9 crore during H1FY16 as compared to Rs 467.8 crore during the corresponding first halfof previous year.

• Total income was Rs 276.1crore during H1FY16 as compared to Rs 479.3 crore during the corresponding first halfof previous year.

• The company reportedan EBITDA of Rs 25.4crore (9.2% of total income) during H1FY16as compared to an EBITDA of Rs25.4 crore (5.3% of total income) during the same period last year.

• Net profit stood at Rs 7.1crore as against a profit of Rs 2.6 crore in corresponding first half of previous year.

Operating highlights

• New accountsbilled during the quarter: The Company added 11new clientsduring Q2FY16. Total client count as of 30^thSeptember, 2015 was 76 (LTM).

• 12m Order Backlog: Mastek's 12-month order backlog was Rs 224.2 crore ($34.2mn) as on 30^thSeptember, 2015 and in constant currency stood at Rs 217.79 crore ($33.2mn) as compared to Rs 212.7 crore ($33.4mn) at the end of Q1FY16, reflecting anincrease of 5.4% QoQ in rupee terms (an increase of 2.4% QoQ in constant currency).

• Employees: As on 30^thSeptember 2015, the company had a total of1,276 employees, of which 855 employees were based offshore in India while the rest were at various onsite locations outside India. Employee count at the end of 30^th June, 2015 was 1,349.

• Billable utilization: The Company's billable utilization stood at 82.8% in Q2FY16 as compared to 80.4% in Q1FY16.

• The LPT JV: The LPT JV share of losses for the quarter was Rs. 2.0 crore as compared to Rs. 3.4 crore in Q1FY16.

• Cash & Cash Equivalents: The total cash&cash equivalent stands at Rs 130 crore as on 30^thSeptember, 2015 as compared to Rs 137 crore at the end of 30^thJune, 2015.

Commenting on the results, Mr. Sudhakar Ram, Managing Director&Group CEO, Mastek, said:'This quarter had a revenue drop and impact on profits as two major programmes got completed and new accounts were at early stage of ramp up. However, with 11 new clients and an uplift in order backlog, we expect better revenue and profitability in the second half'

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'sInvestors 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.com This email address is being protected from spambots. You need JavaScript enabled to view it.

sanjay.mudnaney@mastek.com This email address is being protected from spambots. You need JavaScript enabled to view it.

Shareholders may also contact Mastek via email at Investor_grievances@mastek.comThis email address is being protected from spambots. You need JavaScript enabled to view it. , which has been specifically created for the redressal of investor grievances. You may also contact the Investor Relations team by email at investor.relations@mastek.comThis email address is being protected from spambots. You need JavaScript enabled to view it. .

Note : Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which is available on the website www.mastek.com. Mastek Ltd. undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.