Magellanic Cloud Aims for Rs 600 Crore Milestone with AI-Driven Expansion

Hyderabad's Magellanic Cloud, led by CEO Joseph Sudheer Thumma, plans to exceed Rs 600 crore in revenues by leveraging AI and acquiring companies in tech sectors. The firm intends to increase its workforce to 5,000 and establish an AI center in Telangana for video analytics and security solutions.

Magellanic Cloud, an IT services provider based in Hyderabad, announced a strategic vision to surpass Rs 600 crore in revenues over the next two years, as stated by Managing Director and CEO Joseph Sudheer Thumma.

The company's growth plan hinges on the potential of AI, with reported revenues at Rs 564 crore for FY23-24. It aims to expand its workforce to 5,000 to support these targets, signifying a robust expansion strategy.

Investments totaling over Rs 377 crore were made in acquiring cutting-edge companies across e-surveillance, IT, and drone technology. The firm is on the verge of finalizing several acquisitions, aiming to complete deals by the first quarter of FY26. A new AI and deep-tech center is planned in Telangana, designed as a hub for next-gen video analytics and security solutions, reinforcing its technology-driven growth agenda.