"Collectively, we see a very large opportunity in the Blackstone portfolio," said Nitin Rakesh, Chief Executive Officer and Executive Director, Mphasis.

"I am glad with the progress we made so early in our tenure with Blackstone. It’s a strategic owner. There are almost 100 companies in their portfolio. We started with a handful in FY18. We will mine these, we will mine more," said Rakesh to CNBC-TV18.

Rakesh added that the company is pleased to see bulk of new deal wins coming from the right areas.

Mphasis reported a strong set of numbers for its fourth quarter.

"I will be the last person to bet on dollar-rupee movement but we follow a very consistent and stable hedging policy and we will continue to do that,” said V Suryanarayanan, Chief Financial Officer, Mphasis.