Lead with AI

Annual Report 2024‑25

About Mastek

With a legacy of over four decades and a presence in 40+ countries, Mastek Limited is a trusted AI‑first partner in digital engineering and cloud transformation. We help enterprises accelerate their journey toward modernisation, delivering meaningful outcomes through data, cloud, and AI‑led innovation.

FY25 at a Glance

A Year of AI‑Led Impact

Financial Highlights

3,455.2 cr

Operating Revenue

13.1 %

Y‑o‑Y Revenue Growth (INR)

546.5 cr

Operating EBITDA

Operational Highlights

466

Number of Active Clients

96.4 %

Repeat Business Ratio

48 new logos added

New Wins in FY25

Lead with AI: Shaping the Next Phase of Growth

In FY25, we outpaced industry growth benchmarks across revenue and profit, driven by our commitment to technological leadership, trusted client partnerships, and purposeful innovation. As we continue to lead with AI, we are focused on enhancing operational excellence and future readiness...Read More

Ashank Desai, Chairman

quote

Leading Forward: With AI, Simplicity, Speed and Soul

In a world shaped by rapid change and digital disruption, we emerged stronger, sharper, and more synchronised with the future. And we did it by staying rooted in what has always guided us: simplicity in execution, innovation with integrity, and trust that is earned—every day, with every action...Read More

Umang Nahata, Chief Executive Officer

quote

Guiding the Future with Integrity and Insight

AC NR CSR RMCG SR
Know More

Ashank Desai

Principal Founder and Chairman, Non‑executive and Non‑Independent Director

Umang Nahata

Whole‑Time Director & Chief Executive Officer New Shareholders’ Nominee Director

Ketan Mehta

Founder, Non‑executive and ‑Independent Director

Rajeev Grover

Independent Director

Suresh Vaswani

Independent Director

Marilyn Jones

Independent Director

Key Performance Indicators

Our Growth Redefined by AI

FY25 was a year of focused execution and strategic progress for Mastek. We delivered consistent growth across key markets, deepened client engagement, and advanced our AI and digital transformation capabilities. Strengthened by a robust delivery engine and a future‑ready talent pool, we step into FY26 with reinforced confidence in our ability to drive innovation, scale impact, and create lasting value for all stakeholders.

Business Model

Engineered for Excellence

At Mastek, our integrated business model is designed to create sustainable value across geographies by aligning innovation with purpose. In FY25, we continued to evolve in response to the dynamic market environment, leading with AI while leveraging emerging technologies, enhancing delivery capabilities, and deepening client relationships to drive profitable growth and long‑term impact.

Case Studies

Insights. Instantly.

Mastek partnered with a leading U.S‑based HR services provider to transform how account managers accessed and utilised customer insights. Faced with growing data volumes and increasingly complex client interactions, the organisation needed a smarter, faster way to deliver account intelligence.

Read More

Modernisation. Accelerated.

A leading UK‑based fintech platform for education sought to modernise its ageing desktop application, originally built on Delphi/Pascal. With a growing need for integration, scalability, and developer accessibility, the client aimed to re‑platform without disrupting core business logic or UI familiarity.

Read More

Innovation

Redefining Growth
with AI‑Led Innovation

In FY25, Mastek sharpened its innovation focus around a bold and clear strategic intent: “Lead with AI.” This vision shaped how we re‑imagined both our internal operations and client solutions through cutting‑edge technologies, proprietary tools, industry‑focused deployments, and a strong culture of responsible innovation.

excellentAI‑Infused Delivery and Intelligent Tooling

Mastek made significant strides in embedding AI across delivery functions to accelerate project velocity, reduce manual effort, and unlock measurable business value.

reliableSector‑Specific AI Impact

We deployed contextual, domain‑led AI solutions that created measurable business impact across industries.

uniqueStrategic Technology Milestones

FY25 marked significant recognition and expansion in platform capabilities.

Our People and Culture

Accelerating Growth through
Culture, Capability, and Care

At Mastek, our people are our strongest differentiator. Over the past year, we have evolved our people strategy to align with VECTOR—our core values of Velocity, Empowerment, Collaboration, Trust, Ownership, and Respect. VECTOR is more than a value system; it is embedded into every facet of our people‑first approach, from hiring and onboarding to engagement, learning, and leadership development, ensuring that as we lead with AI, we do so with people and culture at the centre.

Download Report