Transcript of Earnings conference call held on Financial performance for the quarter ended June 30, 2026

SEC/037/2026-27 July 28, 2026 Listing Department Listing Department BSE Limited The National Stock Exchange of India Limited 25th Floor, Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street, Fort, Bandra Kurla Complex, Mumbai-400 001 Bandra (E), Mumbai – 400 051 SCRIP CODE: 523704 SYMBOL: MASTEK ISIN: INE759A01021 Dear Sir(s) / Ma'am(s), Sub: Transcript of the Earnings Conference Call held on the financial performance for the quarter ended June 30, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the Earnings Conference Call held on the financial performance for the quarter ended June 30, 2026, conducted on July 22, 2026, for your information and records. The Transcript of the conference call can also be accessed from the website of the Company at https://www.mastek.com/investor-financial-information/ Thanking you. Yours faithfully, For Mastek Limited Reena Raje Company Secretary & Compliance Officer Membership No.: A21440 Encl: A/A Mastek Limited 804/805, President House, Opp. C. N. Vidyalaya, Near Ambawadi Circle, Ahmedabad – 380 006 Tel: +91-79-2656-4337 | Email: info@mastek.com | Web: www.mastek.com | CIN: L74140GJ1982PLC005215 “Mastek Limited Q1FY27 Earnings Conference Call” July 22, 2026 MANAGEMENT: MR. UMANG NAHATA – CHIEF EXECUTIVE OFFICER – MASTEK LIMITED MR. DEEPAK KEDIA – CHIEF FINANCIAL OFFICER – MASTEK LIMITED MODERATOR: MR. PRATIK JAGTAP – E&Y LLP (INVESTOR RELATIONS) Page 1 of 13 Mastek Limited July 22, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Mastek Limited Q1FY27 Earnings Conference Call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinion and expectation of the company as on date of this call. These statements are not a guarantee of future performance and involve risk and uncertainties that are difficult to predict. As a reminder, all participants will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Pratik Jagtap from E&Y LLP, Investor Relations. Thank you, and over to you, sir. Pratik Jagtap: Thank you, Danish. Good afternoon to all of you, and welcome to Q1 FY27 Earnings Call of Mastek Limited. The results and presentation have already been mailed to you, and you can also view it on our website, www.mastek.com. To take us through the results today and to answer your questions, we have the top management of Mastek represented by Umang Nahata, CEO; and Deepak Kedia, CFO. Umang will start the call with a business update for the quarter, which will be then followed by Deepak, who will take us through the financials. Post that, we will open the floor for Q&A session. As usual, I would like to remind you that anything mentioned in this call that reflects any outlook for the future or which can be construed as a forward-looking statement must be viewed in conjunction with the risks and uncertainties that we face. These risks and uncertainties are included but not limited to what we have mentioned in the prospectus filed with SEBI and subsequent annual reports that you can find on our website. Having said that, I will now hand over the call to Umang Nahata. Over to you, Umang. Umang Nahata: Thank you, Pratik. Hi, everyone. Welcome to the Q1 earnings call for Mastek. On an overall basis, Q1 has been a good quarter with predictable performance and growth. The general demand sentiment in the market continues to be positive. And especially with the AI transformation and evolution, a lot of AI-led new demand opportunities have started popping up. In this quarter, we continue to see good demand in new AI-led deals, and we had 40-plus new opportunities that we've closed in the current quarter, which were backed on AI-led initiatives. Our order book performance for the quarter continues to remain strong, and our 12-month order backlog has grown by 25% year-on-year terms and 13% in constant currency terms. On the back of a positive order book growth that we had demonstrated earlier, we've now seen a strong revenue growth in this quarter with a 5% quarter-on-quarter growth in INR terms and a 1.8% growth in constant currency terms. Our U.K. business continues to be our strong foundation and foothold. The U.K. business grew by 3% quarter-on-quarter in constant currency terms. As we go in detail, financial services and banking, which was a strong performance for Q4 as far as order book is concerned, is now Page 2 of 13 Mastek Limited July 22, 2026 resulting in a positive growth in terms of revenue terms as we continue to expand our business in existing customers as well as acquire new customers in the vertical. A lot of demand in the private sector in U.K. is also shaping because of AI-led initiatives in the market. The Healthcare sector, which is one of our strongest performing sectors over the last few quarters, continues to see a very strong positive demand. Although there has been a transition in Q1 where some of our projects have ramped down, but new projects have already started, and a lot of these new projects are in the data modernization space in healthcare. And we believe these will help us ramp the revenue numbers back up in the rest of the year. The U.K. public sector business, which has been our core pillar, continues to stay stable and grow. Our Q1 performance grew sequentially on the back of stable performance in our existing customers as well as some new customer acquisitions in the local government sector. While there has been political leadership change in the country, we continue to observe the changes quite closely and understand the policy and priority changes of the new government. And also, as the weeks and months evolve, how do these priority and policy changes result in budget changes is something that we will be keeping a close watch on. In general, the demand for cost savings and continuous efficiency is high on the public sector side, and we are working closely with our customers using technology and business process innovation to help them meet their cost saving asks. Moving forward to North America. North America again saw a strong order book performance for the third consecutive quarter led by a $25 million AI transformation deal in Salesforce Agent force, which is one of our largest deals in the recent quarters. The North America business continues to focus on Healthcare & Life Sciences as its key vertical. The demand for AI-led initiatives in this vertical, especially AI transformation, continues to ramp up and is an important area of focus for Mastek as we go forward. The overall business grew around 2% quarter-on- quarter in constant currency terms and 6% in INR for this current quarter. This is for North America. The Middle East business, on the other hand, continues to face some severe headwinds. As we all know, the West Asia crisis is creating a lot of unstability as well as unpredictability in the market. And while we navigate the current volatile environment, working closely with our customers and our leadership team in the geography, we continue to see some uncertainties in our business in Middle East. Although at the later part of the quarter, we did see some new order book getting signed, but the predictability of the business is still a little uncertain. Despite of the shaky performance in Middle East, like I said, the overall performance of the company continues to be strong and positive. As we move forward, transforming a steering Mastek towards becoming an AI transformation company in our select verticals is the key direction of travel that we want to execute. As a company, we have a very unique position w [Showing first 8,000 characters — download PDF for full document]