Mega Networks Eyes Rs 1,000 Crore Revenue Milestone Amid AI Server Boom

Mega Networks, under the leadership of CEO Amrish Pipada, is poised to reach Rs 1,000 crore in revenue within two years. The company's expansion plans include a new factory in Mumbai and increased AI server production, leveraging India's AI market and governmental support initiatives.

PTI | New Delhi | Updated: 02-06-2024 14:58 IST | Created: 02-06-2024 14:58 IST
Mega Networks Eyes Rs 1,000 Crore Revenue Milestone Amid AI Server Boom
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Computing hardware manufacturing firm Mega Networks, or Meganet, is on track to join the Rs 1,000 crore revenue club within the next two years, according to founder and CEO Amrish Pipada.

Speaking to PTI, Pipada detailed the company's strategic roadmap, focusing on the booming AI server market and the substantial benefits of the Production Linked Incentive (PLI) scheme.

'We are positioned to achieve a 30-40% revenue growth in FY25,' Pipada said, noting the firm's FY24 revenue stood at Rs 300 crore.

The firm's aggressive growth strategy involves enhancing core business operations, expanding into emerging technologies like semiconductors and immersion cooling, and heavily investing in marketing and operational efficiencies.

'We plan to upscale our server production to 8,000 units this fiscal year, and are investing Rs 100 crore in a new Mumbai factory with a 1,500-server-per-month capacity,' he added. This facility will become operational by year-end.

Mega Networks' key clientele includes leading banks, insurance firms, media houses, healthcare providers, and government bodies like VSSC, DRDO, and ISRO. It also exports to 56 countries, including the US, UAE, and several in Europe.

With the Indian data center market expanding and AI server demand surging, Pipada stressed the company's readiness to seize these opportunities. New AI servers featuring top-tier processors are being launched, targeting enterprises and institutions to accelerate innovation.

'Government initiatives like the PLI scheme and Make in India significantly bolster our growth prospects,' he concluded.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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