The country's midcap IT companies chiefs are of the view that share buybacks by companies must be backed well with a proper cash expenditure plans.
The impact of the currency will mainly be seen in the topline and not so much in the margins, assures Sudhakar Ram, MD & Group CEO, Mastek, adding that the company is comfortably hedged.
Majesco CEO Ketan Mehta told CNBC-TV 18 that the company is aiming to double its business and improve EBITDA to 12 percent to 14 percent over the next three years.
In an interview with CNBC-TV18, Sudhakar Ram, managing director and CEO of Mastek said the company is planning small acquisitions within Rs 1 crore in the current year.
Farid Kazani, managing director, Majesco targets double digit EBITDA level in three years time.
The stock will be traded ex-Majesco from June 12 onwards. The record date for the split of the shares between Mastek and Majesco has been scheduled for June 15, Farid Kazani, MD, Majesco informed CNBC-TV18.
Software services provider Mastek is planning to list its subsidiary Majesco, USA (formerly known as MajescoMastek) on New York Stock Exchange.
Farid Kazani, group chief financial officer and director-finance, Mastek adds that the company will be a solution company after demerging the insurance business.
Mastek group CFO and director finance Farid Kazani says the company is not acquiring Agile Tech, just acquiring its business. It is a strategic acquisition that will provide the company with great amount of leverage, he says.
IT solutions provider reported a 21.9 percent sequential growth in its third quarter profit on better operational performance.
In an interview to CNBC-TV18, Farid Kazani, Group Chief Financial Officer & Director Finance, Mastek speaks about the company's plans growth its businesses overseas.
Explaining the rationale of this buy back Farid Kazani, Group CFO & Director Finance, Mastek told CNBC-TV18, the company is in comfortable cash flow position and feel that this is good way to deploy that cash.
Mastek recently won an eight million pound multi-year order which will boost the business. Fareed Kazani, group Chief Financial Officer & Director Finance says that he is expecting the order to be delivered by June 2012, after which the company has hopes of expanding its business.
If reports are believed, the UIDAI project is likely to introduce one of the largest IT contracts worth many a crore. As one of the IT firms that have qualified and empanelled for the UIDAI, Mastek says that the project is big, but as large as reported, however, it sees a lot of scope “over a period of time.”
