Mastek chairman Ashank Desai in Calcutta on Wednesday. Picture by Kishor Roy Chowdhury

Calcutta, Aug. 30: Mastek Limited is looking at acquisitions and considering setting up delivery centres in the US and Europe.

Last fiscal, the global software solutions and systems integration provider announced reserves of Rs 200 crore and did not rule out the possibility of raising funds, if required, to realise its growth plans.

Around 63 per cent of the revenues come from Europe.

Mastek has already acquired Entegram LLC through its US subsidiary, Majesco Software Inc, for $2 million.

“Since the projects we handle are quite large like the IT programme for the National Health Service (NHS) of the UK with our UK partner Syntegra, which is part of the BT group, it is necessary to have a presence in the same region. At any given time, around 10 per cent of our workforce are working at offshore locations. In Malaysia, we already have a development centre in addition to the office. Similar arrangements could be considered in other locations depending on requirement,” said Ashank Desai, chairman of Mastek Limited.

Desai said the price of land for the 17-acre plot in Chennai at the Mahindra SEZ was reasonable, but he refused to disclose the price.

The company had considered Hyderabad and eight to nine cities more before zeroing in on Chennai.

It will consider Calcutta if it extends its footprint to other locations.

The Mumbai centre was expanded at a cost of Rs 50 crore.

The Chennai operations will start this fiscal and the centre there can employ 10,000 people.

However, Desai refused to comment on how many people the company would hire initially.

The Bengal IT department has already made presentations to the company.

For the quarter ended June 30, Mastek has posted a total income of Rs 193.4 crore against Rs 155.9 crore for the same period last year.

Net profit stood at Rs 20.6 crore, a growth of 41 per cent over the same quarter last fiscal.

The insurance business and e-governance projects are expected to garner revenues for the company.