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Mascot plans to widen portfolio

Vishwanath Kulkarni

BANGALORE, Feb. 21

MASCOT Systems is planning to expand its range of services by adding two new business verticals focussing on hi-tech manufacturing and telecom.

The company is planning to build domain expertise and set up practices in these new segments. It recently set up a business vertical in finance and insurance.

``The creation of these verticals would add significant value to our domain expertise and provide us with an edge to bid projects on a large scale,'' Mr V. Chandrasekaran, Managing Director, Mascot Systems, said.

The company plans to leverage the knowledge-based framework that it has developed to optimise both internal processes and client delivery globally.

The hi-tech manufacturing vertical is expected to be created early next fiscal, while the telecom vertical may take some time.

The company expects 40-50 per cent of its total revenues next year to flow from the finance and insurance vertical, while the anticipated contribution from the hi-tech manufacturing is pegged at 10 per cent.

Mascot, which provides solutions in the areas of e-business, business intelligence, custom solutions, application re-engineering and application maintenance outsourcing, is also planning to shift more of its business to its offshore development centres n ext year.

With this planned transfer of business to offshore delivery model, Mascot seeks to increase its revenue margins.

``The shift towards offshore model will provide high potential for business and revenue scalability and also enhance profitability in the long term,'' Mr Chandrasekaran said.

The offshore contribution in the company's total revenues for the current financial is set to touch 18 per cent, and is expected to increase to 25 per cent next year.

Mascot has a strong presence in the US, Netherlands, Sweden, the UK, Singapore and Japan. The company is planning to expand its presence in the US by opening a few more offices.

The US accounts for nearly 69 per cent of the total revenues, while Europe accounts for nine per cent and Asia Pacific 22 per cent.

Mascot currently has 31 Fortune 500 clients and 15 clients that bill over $1 million annually.