It is my privilege to share a significant milestone in the journey of
 our company as we complete 20 wonderful years of creating value for all
 our Clients, Employees and Shareholders. Through the 20 years, we have
 remained steadfast on the corporate ideology of being a specialist firm
 focused on multiple niches and creating value for all our stakeholders.
 
 In order to celebrate our 20 glorious years, we announced a special
 reward in the form of 1:1 bonus share issue, i.e. one additional equity
 share for every existing equity share and a 50% special interim
 dividend. On the back of a strong financial performance, we also
 recommended a final dividend of Rs.1.40 per share (70%), which brings the
 total dividend for the year 2010 toRs.3.00 per share (150%) up from Rs.1.40
 per share (70%) for the year 2009.
 
 It gives us immense pleasure to present to you Hexawares momentous
 achievements during the fiscal year of 2010. Our revenues from
 operations increased to $ 231.2 mn (Rs.10,546 mn) up from $ 214.7 mn
 (Rs.10,386 mn) in 2009. More importantly, Hexaware reported a sequential
 revenue growth of 13%, 11% and 9% over the last three quarters of 2010,
 cementing our position at the start of 2011.
 
 Through the year 2010, we inducted 544 fresh graduate engineers into
 our fold. Hexaware had 6,511 associates based all over the world at the
 end of 2010, an increase of 1,374 compared to December 2009. We also
 invested Rs.340 mn towards Capital Expenditure for physical
 infrastructure, mainly in our Chennai campus and for Technical/IT
 infrastructure.
 
 At Hexaware, clients are of paramount importance for our overall
 company growth. We understand their strategic needs and are committed
 to providing high quality services.  Therefore, about 95% of our
 revenues originate from our existing customers. We at Hexaware have a
 high quality client roster comprising 174 clients, of which 50+ are
 Fortune 500/Global 500 names. A key reason for Hexawares
 accomplishment remains our focused approach built on specialisation and
 differentiation to grow the business; as a result, we won the largest
 deal in the history of the company worth 0 mn and signed another
 large extension of  mn in the fiscal year of 2010.
 
 We added 45 new clients across all three geographies in our major focus
 areas.  We now have 2 clients who generate revenues amounting to more
 than  mn per annum. We service 50 clients who contribute more than
  mn in revenues on a trailing twelve month basis. In our attempt to
 strengthen the companys foundation and have consistent growth, we
 continued to make investments in strengthening our vertical
 capabilities and enhancing our technology abilities, which resulted in
 achieving remarkable growth in key focus areas of Enterprise Solutions
 predominantly PeopleSoft, Travel & Transportation, Testing and Capital
 Markets. We have now established a perfect platform to deliver above
 industry performance in 2011.
 
 Over the last three quarters, we have grown at 11% CQGR. To meet our
 growth plan, we intend to add over 1,500 employees during 2011; of
 which 700 comprise of fresh campus recruits. The share of revenue from
 new customers is around 5% and we expect that to improve in our journey
 ahead.
 
 We have always believed in defining long-term strategies and
 establishing the platform to deliver outstanding results. Hexaware has
 delivered 5 times its revenue growth from 2002-2007, growing to 2 mn
 and as we move further we expect Annual Revenue Growth of a minimum 25%
 in 2011.
 
 I would like to thank you all our shareholders, for your unwavering
 support. I hope you will continue to support our endeavours.
 
 Yours Sincerely,
 
 Atul Nishar
 
 Chairman