Mastek Q1FY27 Revenue at ₹985.3 Crore, Up 5.0% QoQ; AI Drives 40+ New Deals
Mastek reported Q1FY27 revenue of ₹985.3 crore, up 5.0% QoQ. AI is a key growth driver, contributing to over 40 new deals and 45% of the new order book. The company ended the quarter with ₹945 crore in cash and investments. Order backlog grew 25% YoY to ₹2,935.2 crore.
The results show steady growth and a strategic focus on AI, which is a positive indicator. However, the impact is moderate as there were no groundbreaking financial leaps or major strategic shifts announced beyond the continued AI integration.
The company reported positive revenue growth, a strong order backlog, and significant traction in AI deals. While there was a mention of challenges in the Middle East, the overall outlook and performance indicators are positive.
Mastek Limited announced its financial results for the First Quarter of FY27 ended on June 30, 2026. The company reported Q1FY27 revenue of ₹985.3 crore, a 5.0% increase quarter-over-quarter (QoQ). Revenue from operations in constant currency grew by 1.8% QoQ. The company secured over 40 new AI deals in the quarter, with approximately 45% of the new order book coming from AI deals. The CEO highlighted a significant AI-led Salesforce deal worth $25 million in North America.
The UK & Europe business showed strong sequential revenue growth of 6.5% in rupee terms, driven by financial services and public sector momentum. The North America business also grew by 6.2% sequentially in rupee terms. However, the Middle East business experienced an impact due to geopolitical uncertainties.
Financially, Operating EBITDA was ₹151.4 crore, representing 15.4% of operating income, a sequential decline attributed to delayed collections in the Middle East. Net profit stood at ₹105.9 crore, a marginal decrease of 0.3% QoQ but a 15.0% increase year-over-year (YoY). The company's net cash and investment position improved by approximately ₹200 crore over the last two quarters, reaching ₹945 crore at the end of the quarter.
The 12-month order backlog grew by 25.0% YoY in rupee terms to ₹2,935.2 crore. Mastek also secured several strategic engagements, including a digital transformation project for one of England's largest councils, modernization of a UK education technology platform, and engagements with a US Federal security agency, a Saudi investment banking firm, and the UK's national health authority.
Mastek received industry recognitions, including being featured as a 'Challenger' in Avasant's Higher Education and Manufacturing Digital Services RadarViews, and recognition in Gartner's Market Guide for Oracle Cloud Infrastructure Professional and Managed Services.
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