Mumbai, India – May 18, 2022: Mastek, a global digital engineering & cloud transformation specialist, completed 40 years of operations on May 14 and marked the occasion with a grand celebration event, ‘Youphoria’, by bringing together over 1300 members of the Mastek family from around the country. Around 500 employees travelled from Mumbai to Ahmedabad in a chartered train to join the anniversary celebrations.
Mr. Hiral Chandrana, Global CEO, Mastek Group said, “Mastek’s 40th anniversary is a historic milestone, built on bedrock of an innovative culture, where One Team approach wins. Over the past four decades, Mastek has remained committed to understanding clients’ requirements and helping them achieve their goals by enabling long-term partnerships and delivering innovative business solutions. We give great importance to success and growth of our employees who form the backbone of the company. As we look forward, we are ready to Decomplex Digital with Trust, Value and Velocity.”
Mastek closed FY22 with revenues of Rs 2,183 crore or $293 million, which were over 26 per cent higher than the year-ago period. The company is aiming for a nearly four-fold growth in its top line to a yearly rate of $1 billion by 2026 or early 2027 through a mix of both organic growth and acquisitions.
Mr. Ashank Desai, Founder, Vice-chairman, and Managing Director, Mastek Ltd said, “I am so proud of what we’ve accomplished over the past 40 years. Through organic growth and acquisitions, we strengthened our business, built a strong customer base, and in the process, reached a unique scale and level of expertise that meets our customers’ business needs and drives business growth.” He further added, “The journey hasn’t been easy. It takes courage, passion, determination, and perseverance. As we celebrate our 40th anniversary, I want to thank our employees, customers, and partners for their continuous support. Let’s continue to shape the future together.”
Mastek was incorporated on 14 May, 1982 as Management and Software Technology Private Limited with an aim of delivering innovative digital solutions and business outcomes for the clients. The company’s first project went live the same year. Within ten years, Mastek was listed on the Mumbai Stock Exchange and the National Stock Exchange. Four decades later, Mastek is the most trusted and valuable transformation partner for clients across its 11 countries of presence and an employer of choice for over 2,200 employees globally.
Mastek runs initiatives that benefit communities in the UK and in India, and which have impacted the lives of over one million people. Through the Mastek Foundation and the initiatives it funds such as Project Deep Blue, Mastek supports causes including education, health and nutrition, the eradication of hunger, the championing of gender equality and the advancement of environmental sustainability.
The 40th anniversary celebration was also packed with entertainment, with a dazzling performance by singer Rahul Vaidya.