Financial Results CY 2006 15th February, 2007

Disclaimer Certain statements on this conference call 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.

CY 2006 highlights Revenue growth of 39.9% to Rs 8482.14 mn Net Profit up 99.1% to Rs 1242.32 mn Operational metrics Contribution at 37.3% as against 35.7% in CY 2005 EBIDTA at 15.6% as against 13% in CY 2005 PAT at 14.6% of revenue, compared to 10.3% in CY 2005 EPS (basic) was Rs. 9.46 Note : All data comparisons shown above relate to FY 05 financials that exclude corresponding Peoplesoft BoT figures.

CY 2006 highlights Billing rates averaged $65.91 and $22.86 for onsite and offshore work respectively 38.8% of revenue was derived from Offshore work. Utilization at 70.5% Capital expenditure: Rs 667.92 mn ($14.75 mn)

CY 2006

Q4 2006 highlights A YoY revenue growth of 38.1% to Rs. 2402.18 mn Net Profit up 36.4% YoY to Rs 337.55 mn Contribution at 37.5% as against 37.2% in the previous quarter EBIDTA at 14.9% as against 16.0% in the previous quarter PAT at 14.1% of revenue, compared to 15.4% in the last quarter EPS (basic) was Rs. 9.84 on an annualized basis Billing rates averaged $66.10 and $22.92 for onsite and offshore work respectively

Q4 2006 highlights 38.4% of revenue was derived from Offshore work. Headcount at 5829 12 new Hexaware clients added in the quarter. Utilization at 68.2% Capital expenditure: Rs 294.98 mn ( $6.6 mn ) The Company closed the quarter with Rs. 3414.12 mn in Cash and Cash equivalents

Q4, 2006 Note : Q4 2005 is without ISC

Impact of Foreign Exchange Q4 average rate: 44.68 Q3 average rate: 46.34 Rupee appreciation: 3.6% Impact on PAT margins: 1.3% Impact on gross margins: 0.65% Impact on SG&A expenses: 0.65%

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