FY 2004, Quarter IV 27 h Jan, 2005

2 Disclaimer Certain statements on this presentation concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry

3 Highlights

4 Achievement VS Guidance –Revenue : $ mn Vs Guidance of $118 mn. –PAT : $14.0 mn Vs Guidance of 13 mn Over achieved Guidance Revenue at mn Vs Guidance of 118 mn PAT at mn Vs Guidance of 13 mn

5 Revenue from software services amounted to –$ Mn, a growth of 65.4% over FY03, in USD terms –Rs mn, an increase of 61% over 2003 Contribution at 37.9% as against 36.6% in 2003 EBIDTA increased to 14.4% from 9.2% in 2003 PAT at Rs mn is 11.7% of revenue, compared to 5.1% in the last year. PAT up 271.4% over FY03. Year 2004 highlights

6 Revenue from software services amounted to –$ Mn, a growth of 57.1% over Q4’03, an increase of 11.8% over Q3’04 –Rs mn, an increase of 52.8% over Q4’03, an increase of 7.4% over Q3’04 Contribution at 39.5% as against 37.5% in the previous quarter EBIDTA increased to 16.3% from 16% in the previous quarter PAT at mn is 13.7% of revenue, compared to 11.3% in the last quarter. PAT up 29.6% over Q3’04 and 184.6% over Q EPS for the quarter was Rs on an annualized basis Q highlights

7 Continuing the Growth Story

8 Key ratios

9 Vertical Split

10 Geographies

11 Technology Split

12 Client Size and Distribution

13 Revenue Mix

14 Cash and cash equivalents

15 Future Outlook Guidance: 2005 Revenue of USD 170 Mn, a growth of 40% over 2004 Net Profit of USD 25.2 Mn, a growth of 80%

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