Mastek Limited will set up a dedicated development centre for French IT services company Euriware at Mumbai. The two companies have signed a strategic partnership agreement.
Euriware's service offerings include industrial performance management, product lifecycle and data management and maintenance of business-critical systems. The new development centre would help strengthen these offerings as well as system integration capabilities.
Euriware is a wholly-owned subsidiary of French energy giant AREVA focusing on consulting, system integration and outsourcing. The company had revenues of €210 million for the full year 2004 and employs around 2,000 people.
Mastek reported a net profit of Rs8.81 crore or Rs6.34 per share on total revenues of Rs92.27 crore for the December quarter. For the previous quarter ended 30 September the company had reported profits of Rs12.62 crore or Rs9.1 per share on revenues of 87.12 crore.
Promoters hold nearly 42 per cent of Mastek while FII's and mutual funds have stakes of 26 and 17 per cent respectively.
Mastek closed at Rs663 (up 0.92 per cent) on the NSE today.