Sify targets Rs 3,500 cr in revenue this fiscal year, bullish on cloud services

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IT services company Sify Technologies is bullish on the cloud services sector and aims to register revenue of Rs 3,500 crore in the current financial year, a senior official at the company said on Saturday.

Sify Technologies CEO Kamal Nath said the company is expanding its data center footprint and has partnered with Hewlett Packard Enterprise to implement its Greenlake technology to deliver cost efficiency as well as predictability of the cost of enterprise cloud computing requirements.

Nath said the company sees huge opportunities in adopting the hybrid cloud business.

“Hybrid cloud promotes our data center business, our network business. It promotes all of our businesses. We are already at Rs 3,000 crore pace. We are looking at Rs 3,500 crore (this financial year),” Nath said. outside the IOC. and Leaders Conference here.

The company achieved revenue of Rs 2,702.6 crore in 2021-2022.

During the first quarter ended June 30, 2022, the company’s revenue increased by 19.5% to Rs 770.9 crore from Rs 645.1 crore in the June quarter of 2021.

Sify recorded a 56% growth in its data center services business to Rs 261.6 crore in April-June 2022 compared to the same period last year. The digital services business contributed Rs 203.8 crore and the network services business Rs 305.5 crore.

“We are constantly investing. We are expanding our data center footprint. We are increasing our data center infrastructure. We have enhanced the Cloudinfinit platform in partnership with HPE Greenlake, which aims to create complementary cloud platforms .

“Here we are not competing but we are complimenting hyperscale clouds because we believe not everything should move to hyperscale clouds. It is expected that the hybrid cloud model will become the preferred model,” said Nath.

The cost of hyperscale cloud platforms is higher, which is why companies are using mixed cloud models to optimize their technology spend.

Nath said that with the HPE partnership, Sify will be able to deliver private, public and hybrid cloud services on a common platform.

“Currently, network services contribute about 40% of the company’s total revenue, while the rest comes from data centers and digital services. At an ideal stage, we want each of the segments to contribute one-third of the total business,” said Nath. .

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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