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    We closed a total order book of around 158 million for the year: Majesco Management

    Synopsis

    In an exclusive chat with ET Now, Majesco Management's CEO Ketan Mehta and MD Farid Kazani said they are pleased with the new logo wins.

    ET Bureau
    In an exclusive chat with ET Now, Majesco Management's CEO Ketan Mehta and MD Farid Kazani said they are pleased with the new logo wins. Excerpts...

    Ketan Mehta: As we mentioned before, I think we have exceeded many of our expectations in terms of budget projections for the current year. I am especially pleased with the new logo wins which are 19 new client logo wins during the year as well as close to 12% growth in the Q4. I think that builds a strong momentum which we can then build it upon next year. One of our key initiatives is cross sale to our existing client base and as we acquired the new client base, we will have an opportunity to cross sale different capabilities during the next year.

    ET Now: Farid, you would want to add to that.
    Farid Kazani:
    The other thing was closing the year with very strong order backlog of 73 million which is a growth of 46% as compared to the previous year, that puts us at a very strong foundation for an organic strong growth in the coming year.

    ET Now: Also I want to ask what were the deal DCB wins in Q4 and over the year if you could give us a figure?
    Farid Kazani:
    We did not disclose specifically in Q4. For the year, we closed a total order book of around 158 million.

    ET Now: And based on your execution pipeline, what is the kind of conversion we would see it in revenue of this year of order book?
    Farid Kazani:
    So out of that what we have given as an indicator, 73 million is revenue which is signed up for the next year, so you will see the convergence of 73 million dollar revenue in the next year.

    ET Now: What is the fresh order inflow you are expecting over this year?
    Ketan Mehta:
    We have robust pipeline and we have multiple areas where we expect the fresh order intake. But one of our key growth area is, as I mentioned is a cross sale to existing customers. As a company, we have 164 clients and a very robust solution portfolio and we expect to sale our capabilities across our client base through a cross sale. One other area where we see growth is our life and annuity in a group market. This is a small business for us but it is again very vibrant and our solutions are one of the leaders in the market. We announced that Unum which is one of the top 10 group insurer selected our platform for their multi-year modernisation initiatives. So, we expect that type of momentum to take place in life and annuity business as well.

    ET Now: If you could share some numbers based on what is the client addition you see, based on your high sales efforts that you have been taking in go to market strategy and also based on the ones that you already have? what is the upscaling and ramp up potential like over the next 12 to 18 months?
    Farid Kazani:
    We shared a presentation which gives the client details in terms of what we sold to clients and what are the potential cross sale opportunities. We have 164 clients as of date today and if I could just one number, there are only 18 clients that bought all our product. So there is a potential to kind of cross sale into the rest of the clients the other products solutions plus we are seeing good uptake on the data in digital solutions and I believe that will be also growing segment for us.
    The Economic Times

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