AI continues to drive strong momentum with 40+ new deals in

Q1’27

Another strong quarter of order booking resulting in

growthof25% Y-o-Y in rupee terms of 12 months order backlog

Prayagraj/Mumbai, 23 July (HS): Mastek, a trusted AI

Engineering and Transformation company,announced today its financial results

for the First Quarterof FY27ended on 30th June 2026.

Commenting on the Q1FY27results, Umang Nahata, Chief

Executive Officer, Mastek, said:

“We are leading Mastek into an AI transformational company

in select verticals. Our 'Lead with AI' strategy is delivering directional

change with ~45% of new order book coming from AI deals. NA won an AI-led

salesforce $25mn deal.

UK & Europe business continues to deliver strongly with

6.5% sequential revenue growth in rupee terms backed by good momentum in

financial services and public sector. NA business also delivered a strong

quarter with 6.2% sequential revenue growth in rupee terms.

Overall, ourlong-term growth outlook remains positive,

however our Middle East business is seeing impact due to geopolitical

uncertainties.

Commenting on the Q1FY27 results, Deepak Kedia, Chief

Financial Officer, Mastek, said:

“Our Q1 performance demonstrated resilience, with 1.8%

constant currency revenue growth.

Our EBIDTA performance was 15.4% which was a sequential

decline largely due to delayed collection in Middle East. Weremain focused on

operational efficiency, disciplined cost management, and AI-led productivity.

Our net cash and investment position have improved by

~Rs.200 Cr over the last two quarters with a Rs.945 Cr cash and investment

position at the end of the quarter.”

Review of theConsolidated Financial Performance for Quarter

ended 30th June 2026:

Figures in $mn Q1FY27 Q4FY26 Q-o-Q

Growth Q1FY26 Y-o-Y Growth

Revenue from Operations $104.8$103.51.2% $107.4(2.4)%

Figures in Rs Crore Q1FY27 Q4FY26 Q-o-Q

Growth Q1FY26 Y-o-Y Growth

Total Income 997.3 961.9 3.7% 925.3 7.8%

Revenue from Operations 985.3 938.0 5.0% 914.7 7.7%

Operating EBITDA 151.4 150.7 0.4% 137.3 10.2%

% of Op. Income 15.4% 16.1% (71)bps 15.0% 35bps

Net Profit 105.9 106.2 (0.3)%92.1 15.0%

Net Profit % 10.6% 11.0% (42)bps 9.9% 67bps

EPS (Rs) – Diluted 33.9 34.0 29.5

Operating Highlights

12 months

Order Backlog:12 months order backlog is at Rs 2,935.2 crore ($310.1mn) as on

30th June, 2026reflecting 25.0% growth in rupee terms on Y-o-Y basis and 13.3%

growth in dollar terms on Y-o-Y basis.

Employees:As

on 30thJune , 2026, the company had a total of 4,897 employees, adding 167

employees during the quarter. Out of 4,987 employees, 3,283 employees were

based in India. Last twelve months attrition is down by 1% to 16.4%.

Cash

Balance:The total cash,cash equivalents and fair value of Mutual Fundsis atRs

945.4crore as on 30th June, 2026 adding ~Rs.200Cr in operating cash in last two

quarters.

Key wins for the quarter

Mastek

secured a strategic engagement to digitally transform one of England’s largest

councils, unifying Finance, Procurement, Budgeting, HR, and Payroll on a single

intelligent Oracle Cloud platform through ADOPT AI. The programme standardises

operations, improves financial visibility, and lays the digital foundation for

the council’s next decade, with Mastek leading transformation ahead of

structural change.

Mastek

secured a strategic engagement with a leading UK education technology and

payments group to modernise its end-of-life legacy platform into a cloud-native

architecture. Powered by Mastek AI, the programme delivered 2x faster

modernisation with 90% unit test auto-generation, proving AI-led legacy

re-engineering at scale.

Mastek

secured a landmark engagement with a US Federal security agency to transform

mission-critical service delivery, case management, and stakeholder engagement

on a scalable Salesforce Agentforce platform. The solution enhances agility,

operational efficiency, and citizen-centric service at federal scale.

Mastek

secured a strategic engagement with a leading Saudi investment banking and

asset management firm to transform Finance, Supply Chain, and Performance

Management operations, supported by a three-year managed services partnership.

Delivered through ADOPT AI on Oracle Cloud, the programme strengthens

governance, improves decision-making, and supports the firm’s Vision 2030

ambitions.

Mastek

secured four strategic programmes within the UK’s national health authority

Data Directorate, strengthening how national health data drives better care,

operational efficiency, and system resilience. The engagements deepen Mastek’s

role as a trusted partner to the UK’s health agenda and set the foundation for

a larger transformation programme in 2027.

Mastek

secured an engagement with a US specialty pharmaceutical company to enhance

workforce operations, improving service quality and responsiveness while

reducing costs through a flexible nearshore-offshore model. The engagement also

opens opportunities in analytics and AI-led enterprise transformation, backed

by trusted relationships, platform expertise, and Life Sciences experience.

Mastek

secured a strategic five-year engagement with one of KSA’s fastest-growing

listed hospital groups to power a major Vision 2030 healthcare transformation.

Using Mastek AI Healthcare, the programme connects enterprise, clinical, and

revenue systems in real time, giving the group clearer visibility into the

economics of care.

Mastek

secured a multi-million dollar, fixed-price transformation contract with a

leading US provider of automatic taping and finishing tools to replace four

disconnected systems with one intelligent enterprise platform. Won in a

five-way contest, Mastek’s AI-led approach enabled outcome-based delivery and

opens expansion opportunities in a $50 billion Pro ecosystem.

Mastek secured

a multi-year, AI-led strategic engagement with a leading US furniture rental

and transition services provider, to protect its revenue-critical pricing

engine and rebuild it as an AI-native, client-owned intelligent asset. The

engagement reduces licence dependence, lowers structural cost, and extends

Mastek’s Service-as-Software playbook proven through MastekGROW®.

Mastek

secured an engagement with a leading US online automotive marketplace, with

revenues close to US$1 billion, to engineer and run its data backbone. Powered

by Mastek AI-enabled operations, the engagement strengthens platform

reliability, scalability, and delivery velocity, extending Mastek’s AI-led

operations model in the US data economy.

Mastek

secured a five-year strategic partnership with KSA’s national transportation

and mobility leader to ensure stability, continuous improvement, and

future-ready enterprise operations. Powered by Mastek Agentic AI Managed

Services, the engagement embeds AI and automation into daily operations at

national scale, supporting Vision 2030 mobility infrastructure.

Key Achievements & Recognitions:

Avasant:

Mastek has been featured as a Challengers in Avasant Higher Education Digital

Services 2026 RadarView as well as in AvasantManufacturing Digital Services 2026 RadarView. In addition

Mastek has been recognized in the Avasant Banking Digital Services2026

RadarView

Gartner:

Mastek has been recognized in Gartner Market Guide for Oracle Cloud

Infrastructure Professional and Managed Services.

Everest:

Mastek has been recognized as a Major Contender and Star Performer in the

Oracle Cloud Applications Services PEAK Matrix® Assessment 2026

Hindusthan Samachar / Abhishek Awasthi