Mastek plans expansions
16 Jun 1999
Mastek Limited, one of India's top software companies plans to set up subsidiaries in Belgium and Switzerland. This move is seen to consolidate its operations in Europe, where it has also set up another subsidiary in Germany.
Besides these, Mastek is also planning to convert its branch office in Japan to a wholly owned subsidiary. In India it has taken up additional space in Seepz and is also planning to move into the infotech park in Navi Mumbai, with a view to expanding its software development capacity. To this end Mastek is also planning to add about 500 software engineers this year.
The funds for these expansions would be from internal sources. It posted a profit of about Rs 3.78 crore for the nine months upto January 1999 and expects to have a turnover of RS. 160 crore in the year ending June 30, 1999.
Mastek is better known for its ERP package, MAMIS besides its other products like Goldmine, a depot sales system, Elixir a package for life insurance companies, LAPS 2000 an automated loan processing software and Jaal, a software tool to build interactive Internet application. Besides these, Mastek is also involved in selling third party software and solutions for Customer relations management and e-commerce.
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