Exclusive: In chat with Anil Singhvi, Mastek Founder and CEO Ashank Desai says he expects high growth

In today’s episode of News Par Views show, Zee Business Managing Editor Anil Singhvi spoke to Ashank Desai, Chief Executive Officer (CEO), Mastek, a global technology company. Desai, who is also the Promoter and Founder, speaks about why he has been buying the company’s shares, business outlook and much more. (#NewsParViews) 

The CEO said that he has bought 1.5 lakh shares of Mastek and he believed that the full potential of this company has not been realised yet and the way it is working now and will work over the next 3-4 years, it will definitely do justice to its full potential. This is the reason why he has purchased the company’s shares, he added. 

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The Company has also sold its stake in the US subsidiary Majesco. The Market Guru lauded Mastek Founder’s step to give high dividends to the shareholders. On Desai’s future plans regarding the operations of Majesco, he said that Mastek gave high returns to its investors as it wanted to set a strong example of sound corporate governance. It has maintained a standard since the time company went public in 1992. 

He said that the company has always believed that the Indian companies could develop software products and even establish them globally. He said that it has taken a long time for the company to achieve what it has. 

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On the difficulties faced by the sector, he said that the product business is difficult in comparison to service business. He said that to sell products successfully in the US is not a mean feat and his company has been able to do it successfully. He said that Majesco has been among the top three insurance solutions provider. 

Mastek has faced several financial difficulties to set up a business in the US, he said.