New Delhi, 17 November 2020: IT services company Mphasis has spent Rs 20.80 crore under its corporate social responsibility for the financial year ending 31 March 2020. The company’s CSR is executed through its philanthropic arm, Mphasis F1 Foundation. The foundation invests in the areas of education, inclusion and livelihoods through non-profits and social enterprises (via incubators).
The company in its annual report claims, "The current CSR strategy and operating principles aim to deliver substantial impact through identifying technology-based solutions/ projects applied within our focus areas that benefit socially-excluded and economically disadvantaged groups".
The company’s average net profit for the last three financial years stood at Rs1,038.80 crores. During the year, the company spent Rs20.8 crore on CSR as against the mandated spend (2 percent of its average net profit of the past three years) of Rs 20.78 crore. Last year, the company had spent its mandated CSR budget of Rs 18.2 crore.
The Bangalore based company which provides infrastructure technology and applications outsourcing services focuses on creating opportunities for the disadvantaged with emphasis on persons with disabilities and technology driven community development.
Major focus areas of the CSR spend
| CSR Project or Activity Identified | Area or location in which the Project is covered | Amount Spent (Rs Cr) |
| Accessible transportation for persons with disabilities | Karnataka-Bangalore & Maharashtra- Mumbai | 3.46. |
| Acceleration support for startups in Assistive Technologies | Pan India | 2.50 |
| Cognitive Computing Centre of Excellence | Karnataka-Bangalore | 2.00 |
| Support to Museum of Art & Photography | Karnataka-Bangalore | 2.00 |
| Make India Accessible | Pan India | 1.62 |
| Support to communities affected by Gaja Cyclone | Tamil Nadu- Chennai | 1.43 |
| Support to Ashoka Youth Changemakers | Pan India | 1.02 |
| Support to CSMEM School, Pune | Maharashtra- Pune | 9.81 |
| Support to Non-Profit start-up incubation-N/Core | Karnataka - Bangalore | 0.86 |
| English and life skills training for women | Karnataka - Bangalore | 0.81 |
| Arivu Disha | Karnataka-Bangalore | 0.81 |
The company’s CSR committee is led by the chairman Narayanan Kumar. During the year ended 31 March 2020, a telecon meeting of the CSR Committee was held on 16 May 2019 to take note of update on CSR programs, amount spent for FY 2019 and proposed CSR spend for FY 2020 and a meeting of the Committee was held on 13 November 2019 to take note of the CSR updates.
