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Mastek inaugurates offshore development centre

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CIOL Bureau
New Update

Mastek Limited, as part of its expansion plans, has acquired additional

infrastructure of 120,000 sq ft in and around Mumbai (SEEPZ, Pune and Millennium Park).

The implementation is being carried out in three phases, at a total investment of Rs 70

crore. The new development centre, part of phase II, has been set up in SEEPZ. It can

accommodate 300 software professionals and has been set up with an investment of Rs 25

crore. The company plans to acquire 80,000 sq ft of land in the Millennium Park in Navi

Mumbai. It would fund the expansion scheme partly through internal accruals and partly

from borrowings. Mastek Ltd. CMD Ashank Desai said that his company was not considering

raising funds by fresh issue of share and dilute equity.

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