Sify aims Rs 3,500 cr revenue this fiscal, bullish on cloud services

IT services company Sify Technologies is bullish on the cloud services business and aims to clock revenue of Rs 3,500 crore in the current fiscal, a senior official of the company said on Saturday.

Sify Technologies CEO Kamal Nath said that the company is expanding its data centre footprint and partnered with Hewlett Packard Enterprise for implementing its Greenlake technology to provide cost efficiency as well as predictability in the cost of cloud computing requirements of business organisations.

Nath said that the company is seeing huge opportunities in the adoption of the hybrid cloud business.

"Hybrid cloud promotes our data centre business, network business. It promotes all our business. We are already at a run rate of Rs 3,000 crore. We are eyeing Rs 3,500 crore (this fiscal)," Nath said on the sidelines of the CIO and Leader Conference here.

The company had revenue of Rs 2,702.6 crore in 2021-22.

In the first quarter ended June 30, 2022, the company's revenue grew 19.5 per cent to Rs 770.9 crore from Rs 645.1 crore in the June 2021 quarter.

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

"We are continuously investing. We are expanding our data centre footprint. We are augmenting our data centre infrastructure. We have enhanced the Cloudinfinit platform in partnership with HPE Greenlake which is targeted towards creating complimentary cloud platforms.

"Here we are not competing but complimenting hyperscale clouds because we believe everything should not move on to hyperscale clouds. It is projected that the hybrid cloud model will emerge as the preferred model," Nath said.

The cost of hyperscale cloud platforms is higher therefore companies use mixed cloud models to optimise their expense on technology.

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

"At present network services contribute around 40 per cent of the company's total revenue while the rest comes from data centre and digital services. At an ideal stage, we want each of the segments to contribute one-third to the total business," Nath said.