Hi,
You can not set mode as Time,you need to use Ajax MaskEditExtender like below
HTML
<asp:TextBox ID="txtTime" runat="server" />
<Ajax:MaskedEditExtender ID="MaskedEditExtender1" runat="server"
TargetControlID="txtTime" AcceptAMPM="false" MaskType="Time"
Mask="99:99" AutoComplete="False" />
I hope this will help you out.