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Mega Networks to set up server facility in Mumbai by year-end

Tuesday, 21 May 2024
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IT infrastructure company Mega Networks is in the final stages of setting up a facility in Mumbai with an initial investment of Rs 100 crore. For manufacturing AI servers locally, the company is already in the final process of acquiring land, and expects to close the deal in the coming month.

The firm is also finalising the machinery and talented resources for the facility, and production is expected to start by the end of this year. Mega Networks is an advanced networking solutions provider known for producing indigenous AI servers in India, partnering with chip giants like NVIDIA, Intel, and AMD. The company is expecting a revenue growth of 30 percent in FY25. The company recorded a revenue of Rs 300 crore in FY24.

The investment includes land acquisition, machinery, and other expenses. The funding for this will be sourced from both internal accruals and long-term debt financing.

In 2023, the company was one among the 27 firms selected for the production-linked incentive (PLI) scheme 2.0 for IT hardware. The firm launched a locally manufactured server powered by the fouth generation Intel Xeon processor in February this year and is now working on seventh and eighth generation servers.

Currently, the percentage of indigenous components in servers manufactured by the company stands at around 51 percent,  as CPU memory is a component which is imported. However, the firm is working to scale this to 70 percent.

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