Progress at work

1
Progress at work

• Europe 2004

2
Europe at a glance
Share of Europe in Indian IT Exports is
21. Expected to increase to 31 by 2006

• UK, Germanic, France and Benelux Constitute 76
  of Europe IT spend

3
Key market dynamics

• Gradual improvement in market
• Capex still constrained
• Tactical spend
• Sophisticated and demanding buyers
• Evaluating Value re-evaluating Cost
• Diverse, multi-cultural, multi-lingual
• Fixed price and shared risk/reward more common
• Multiple reference checks
• Longer sales cycles

4
Our market positioning

• Broadly based by geography, by sector and by
  offering
• A reliable, flexible and long-term partner
• In-depth industry expertise
• Providers of mission-critical, repeatable
  offerings
• Focus on value-based outsourcing
• Costs Consultancy Processes Quality

Building upon Relationships
5
Account LufthansaEnter Penetrate Radiate
IT Services
Passage
Tourism
Ground Services
MRO Services
Logistics
Catering

• Chronology
• Q4 2002 Cargo
• Q1 2003 EAI
• Q3 2003 Cargo consultancy
• Q4 2003 CRM in Passage
• Q2 2004 CKI in Passage
• Q2 2004 Testing in Passage
• Q3 2004 DCS in Passage

• Technology
• USAS Mainframe
• Tibco
• People Tools
• Forte
• JAVA

6
Operations

• 10 Fortune 500 customer in Europe
• 2 new clients during Q2
• 23.8 of Global revenues Q2
• Revenue up from 3m 01 to 28m 04E CAGR of 110
  
• YTD 2004 Repeat Business at 93 up from 86 03
• Commenced French operations

7
Status update

• Business Growth in line with our expectations
• Acquired 11 New Clients in the last few quarters
  - Expect some more for the full year
• UK , Belgium and France progress continues
• Germany is beginning to shape-up well
• Revenues and margins in H1 04 improved on H2 03

8
Clients
9
Thank You