Hexaware Technologies Ltd
Add to watch list to get report alerts
BSE Code:
532129
NSE Code:
HEXAWARE
Business Profile
Business Profile
Hexaware Technologies provides software services to the transportation, banking, finance and insurance, and hospitality industries. It was incorporated in 1990 and began operations in North America and Europe in 1995. Atul K. Nishar is the executive chairman and Rusi Brij, vice chairman and CEO of the company.
The company is into IT services specializing in enterprise solutions, application management and embedded systems. It offers SAP products, PeopleSoft, ..etc. Operations are spread across four main geographies - Europe, North America, Asia-Pacific and Australia. It is present in 11 countries across the globe with seven subsidiaries globally. In USA, the company currently has six major offices in Atlanta, Jamesburg, Chicago, Boston, San Jose, and Toronto. It manages operations at all locations through these offices.
It is a BS 7799-certified company and has also been assessed at level 5 of the SEI CMMI. The company has been positioned in the niche players quadrant for North American Offshore Applications Services 2007. A major System Integrator in Japan selected the company to develop a core bespoke application, the first phase of the deal worth USD 18 million. The company entered into JV with Pemtrad International to launch Risk Technology International (RiskTech). The company has several partnerships with SAS, Cognos, Informatica, ..etc., and over 129 active customers. The company is amongst the top-20 software and services exporters from India.
The registered office is at 152, Sector?lll, Millennium Business Park, A Block, TTC Industrial Area, Mahape, Navi Mumbai?400710 and corporate office at 96-97, Mittal Chambers, Nariman Point, Mumbai?400021.
Financials
Hexaware Technologies registered a decline in net profit of Rs 189.17 million for the quarter ended June 2007 from a profit of Rs 208.07 million for the quarter ended in June 2006.
Net sales rose 14.22% to Rs 1,126.07 million for the quarter ended June 2007 from Rs 985.89 million for the quarter ended June 2006.
Total income rose 13.54% to Rs 1,181.97 million for the quarter ended June 2007 from Rs 1,040.98 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 1.33 for the quarter ended June 2007.
Recent Developments
05-FEB-09
The company announced that its subsidiary, Caliber Point Business Solutions had inked a pact with Oracle to offer oracles human capital management offerings with Caliber Point`s proven HR consulting and services to customers under the ``BPO Powered by Oracle`` program.
29-JAN-09
The board of directors of the company has decided to merge Focus Frame its wholly owned subsidiary in US into Hexaware Technologies another wholly owned subsidiary in US.
22-DEC-08
The company announced that a new organisation structure. This strategic realignment is in line with the company`s move to strengthen the organisation.
Future Plans
The company has entered into an agreement with General Atlantic LLC. According to the agreement, the latter would invest USD 67.6 million through a preferential allotment. It plans to utilize the proceeds of the allotment for creating infrastructural assets, enabling suitable acquisitions and meeting working capital needs of the company. This will facilitate the company in sustaining growth in the long term and also help it in realizing new growth opportunities in USA.