Netmagic is investing over Rs 1200 crore to almost double its capacity by April. The city-based firm will add Rs 5 lakh square feet space by opening two new data centers as part of the plan, which will take its total space to Rs 11 lakh sqft.
The company has already invested Rs 1500 crore into the city-based company since it bought out the promoter Sharad Sanghi 5 years ago and will invest around Rs 1200 crore more into these new data centers. The new addition will result in it having as many as five of its nine centers in Mumbai alone.
“Of the Rs 1200 crore investment that’s going into the upcoming new data centers in Mumbai and Bengaluru which will be commissioned in April, around Rs 960 crore will come from NTT Communications the rest will be a mix of debt (Rs 200 crore) and internal accruals.”
MD & CEO,