Shortlist announced for The Tech Capital Global Awards 2023
London, UK, Apr. 18, 2023 – The Tech Capital, a digital media, reports, and events platform providing valuable daily content and data covering investment and...
Profit for data centre business jumped during Q1 2021/22 leading the business to more than double on its data centre capacity by 2025.
Founder and Editor, The Tech Capital
September 24, 2021 | 4:51 AM BST
Fortune India 500 business Sify Technologies Limited (NASDAQ: SIFY) said it will add 200MW of IT power to its data centre portfolio across Mumbai, Delhi and Bengaluru to service growing demand.
The IT load represents more than double of Sify’s current operations that amount to 70 MW across 10 data centres spread across the country in Vashi, Bangalore, Chennai, Airoli, Noida, Rabale, Hyderabad and Kolkata.
The news was shared as the company celebrated 21 years of uninterrupted operations at the Vashi data centre, the first commercial hosting facility in India.
Raju Vegesna, Chairman, Sify Technologies, said: “Sify has pioneered and set high standards in the data centre space in India ever since the launch of country’s first concurrently-maintainable data centre at the Infotech Park in Vashi, Mumbai in September 2000.
“Sify was the first to foresee the scope for data centre as a business vertical in India and hence aggressively invested in the key markets. Today, the combined strength of our data centres and Network connectivity puts us in an unbeatable position to drive digital transformation across the nation.”
Kamal Nath, CEO, Sify Technologies, added: “This 21st anniversary of our Vashi Data Center is testimony to Sify’s legacy in the data centre business in India. Our data centre footprint across the country powers our cloud@core philosophy and drives the integrated data centre solutions that we offer to our clients to help them meet their digital transformation goals.”
Sify reported its financial results for Q1 2021/22 last July, achieving INR 6451 Million (US$87.33 million) in revenue, a growth of 23% over the same quarter last year. EBITDA for the quarter was INR 1454 Million ($19.68 million), an increase of 26% over the same quarter last year.
Revenue from data centre centric IT Services grew 45% against Q1 2020/21, with revenue from data centre services growing 38%, Cloud and Managed Services increasing 24%, Applications Integration Services jumping 153% and Technology Integration Services rising 20%.
M P Vijay Kumar, CFO, said, “The operating performance has been stable. We continue to invest in expansion of our data centres, network connectivity and digital services. We will stay focused on our cost efficiency and liquidity management, given that the economic recovery is still regaining lost ground due to the pandemic.”
US colocation firm Digital Realty (NYSE: DLR) and Brookfield Infrastructure L.P. (TSX: BIP.UN; NYSE...
India's Adani Group will invest ₹150,000 crore (US$20 billion) in renewable energy over the next ...
Ascendas Property Fund Trustee Pte. Ltd., the trustee-manager of Ascendas India Trust (a-iTrust), s...