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Meganet expects Rs 1,000-cr revenue in next two years

Monday, 03 Jun 2024
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Computing hardware manufacturing firm Mega Networks (Meganet) is set to clock Rs 1,000 crore in revenue in the next two years amidst evolving demands and growth aspirations. This would be strongly led by the firm's expansion plans, strategy to leverage the AI server and data centre market, and production-linked incentive (PLI) scheme for the sector.

The company will invest approx. Rs 100 crore in a new factory in Mumbai, Maharashtra, which will have an initial capacity of producing 1,500 servers per month. The new plant is expected to begin operations by the end of the year. Recording a revenue of Rs 300 crore in FY24, the homegrown firm is set to achieve a 30-40 percent revenue growth in FY25. This involves accelerating its core business by focusing on delivering high-quality products and services, investing in operational efficiency, and expanding into high-potential emerging technologies such as semiconductors fabrication, immersion cooling technology.

Last year, Mega Networks delivered between 5,000 and 6,000 servers, and the company targets to ramp up its server delivery to 8,000 servers in this financial year. Meganet's key clients range from leading banks and insurance companies to prominent media houses, healthcare providers, and government bodies.

Some of the company's private clients include Reliance and Tata. Major government clients include VSSC, DRDO, and ISRO. Meganet exports to 56 countries, including the US, UAE, and Europe. 

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