Mastek announced its Q2FY27 revenue at Rs 1,018.7 crore, up by 3.4% Q-o-Q

2026-10-24 03:16:39 Business

Mumbai, India 23rd October 2026: Mastek, a trusted AI Engineering and Transformation company, announced today its financial results for the Second Quarter of FY27 ended on 30th September 2026.

Commenting on the Q2FY27 results, Umang Nahata, Chief Executive Officer, Mastek, said: We are leading Mastek into an AI transformational company in select verticals. Our AI-led solutions are gaining high traction with our customers. At the same time, we are also driving several use cases within Mastek to evolve Mastek into an AI Native organization.

UK & Europe business continues to deliver strongly with 4.1% sequential revenue growth in rupee terms backed by good momentum in financial services and public sector. NA business also grew sequentially and delivered a strong order book with positive momentum to grow in future quarters. Middle East continues to be impacted by geopolitical uncertainties.

Overall, our long-term outlook remains positive, powered by growth in Data & AI business.

Commenting on the Q2FY27 results, Deepak Kedia, Chief Financial Officer, Mastek, said: We delivered a strong quarter despite continuing macro challenges with 2.4% constant currency revenue growth.

Our EBIDTA performance was 14.4%. Impacted by annual increment. We continue to drive AI-led productivity and remain focused on operational efficiency and disciplined cost management.

We see consistent improvement in our cash position which provides a strong war chest for strategic investments.

Operating Highlights

· 12 months Order Backlog: 12 months order backlog is at Rs 2,742.8 crore ($286.2mn) as on 30th September 2026 reflecting 10.4% growth in rupee terms on Y-o-Y basis and 2.3% growth in dollar terms on Y-o-Y basis.

· Employees: As on 30th September 2026, the company had a total of 4,810 employees, net reduction of 87 employees during the quarter. Out of 4,810 employees, 3,171 employees were based in India. Last twelve months attrition at 15.2% in Q2FY27 in comparison with 16.4% in Q1FY27.

· Cash Balance: The total cash, cash equivalents and investments is at Rs 930.6 crore as on 30th September 2026 as compared to Rs 945.4 crore as on 30th June 2026. Net cash, cash equivalents and investments of Rs 37 crore added during the quarter despite dividend payout of ~Rs 50 crore and loan repayment of ~Rs 55 crore.

Key wins for the quarter

· Mastek secured a Service-as-Software engagement with a US multi-practice senior care and skilled nursing provider to build and operate a bespoke, AI-powered core clinical platform tailored to the client’s care workflows. The engagement includes a 16-month build phase followed by 36 months of operations. The solution will also create a scalable, industry-ready intelligent asset.

· Mastek secured a five-year strategic partnership with a NYSE-listed global dental technology leader — as multi-pillar delivery partner across Oracle, Salesforce, Data, Digital Engineering, and AI. A scalable POD-based model lets the client activate and expand capability on demand — the speed of a product team with the governance of an enterprise partner.

· Mastek secured a strategic role as Cyber Security Service Delivery Partner, strengthening international cyber resilience for one of the UK’s most security-critical departments. The engagement spans advisory and technical expertise — from risk, governance, and resilience engineering to data protection and emerging AI standards — deepening Mastek’s trusted role in UK national security.

· Mastek secured a business-critical Process transformation engagement with a UK Territorial Police Department, covering finance, procurement, human resources and payroll, leveraged by ADOPT AI. The engagement replaces fragmented legacy corporate systems with standardised processes and trusted data to strengthen financial control, operational visibility and reporting across the force.

· Mastek secured a 3-year, outcome-based managed services partnership with global classification society for marine, offshore, and industrial assets, for its entire Oracle Cloud estate. Powered by Mastek Agentic AI Managed Services, with AI agents embedded into daily operations, it shifts the client from effort-based support to committed outcomes.

· Mastek secured a strategic engagement to lead one of MENA’s largest private hospital group’s enterprise transformations — connecting Finance, Supply Chain, Workforce, and Planning with its clinical systems on one intelligent platform. Delivered through ADOPT AI on Oracle Fusion Cloud, it standardizes operations, sharpens financial visibility, and strengthens governance across a multi-country network.

Key Achievements & Recognitions:

· Everest: Recognized as Major Contender in the Everest Group PEAK Matrix Retail Digital Services PEAK Matrix® Assessment

· IDC: Recognized as a Major Player in the Oracle Implementation Services 2026 Vendor Assessment globally

· ISG:

o Recognized as a Leader in ISG Provider Lens® – Public Sector Services and Solutions U.K

o Recognized as a Contender in Both ISG Provider Lens® study Generative AI and Agentic AI Service Globally

o Recognized as Product Challenger in 'AI-Driven ADM Services