Another surprise is Mumbai-based Mastek, which moves up from #40 to #8. The company made it to the Top 10 financial club on the basis of its performance in the year ended June 2000. Mastek reported revenues of Rs 92.90 crore and net profit of Rs 29.43 crore during the period, up by 67% and 253%, respectively. The company operates on a subsidiary model and has been ranked at #4 in ROCE, #8 in profit growth and #13 in gross block growth. Mastek provides services in the areas of customer relationship management (CRM) and e-commerce. It has taken up sizable facilities in Millennium Park, Navi Mumbai, which should enable it to grow at above-industry rates. Of late, however, the performance has not been up to the mark, with its North America operations taking a beating. Mastek reported poor third quarter results, with profits falling 99% to just Rs 3 lakh. The company is pulling up its socks, but should still slip in the rankings due to the lackluster performance in the year 2001, which ends in the month of June.