Dear Friend,

A very happy and a prosperous new year to you and your dear ones. Hope you had a great start to the year.

Your continued support and faith in MindTree helped us start the New Year on a positive note. A few quarters back MindTree has chosen to be an expertise-led organization creating great impact to our customers and our employees.

As a step towards achieving this, we are diligently executing on our strategy of narrowing our focus on select segments and will continue to do so. We are definitely seeing a favorable impact of this in terms of our growth, our solutions, customer satisfaction, and most importantly the employee satisfaction.

Let me present you a quick snapshot of our Quarterly financial results.

• Q3 Revenues - $ 103.7 million
  • QoQ Growth – 2.3%
  • YoY Growth – 21.6%
• PAT – $12.1 million
  • QoQ growth – Stable
  • YoY Growth – 79.8%
• EBIDTA – 17.3%
  • QoQ Growth – 4.5%
• All businesses showed growth during this quarter

As of December 31, 2011, MindTree had 258 active customers, including 44 Global Fortune 500 Companies. MindTree added 846 people taking its total people strength to 10,934 as of December 31, 2011.

We have started our planning cycle for the next year with a central theme of being closer and relevant to our customers and market needs. We have already started seeing fruits of this mindset and I am confident that you will find it truly differentiating.

On behalf of 10,900 + MindTree Minds, I whole heartedly thank you for your guidance in the form of feedback, inputs, thoughts that is helping us grow and being relevant.

Best Regards,

Krishnakumar Natarajan
CEO and Managing Director
MindTree Limited