NTT-Backed Netmagic Invests Rs 990 Crore To Expand Its Data Storage Facilities In India

NTT Communications has invested close to Rs 990 crore ($144 million) through its subsidiary Netmagic for expanding its data centre facilities in India, the Economic Times has reported. It is said that the company has expanded its data storage facilities in India by 70 per cent with two new data centre facilities in Bengaluru and Mumbai with a total capacity of 13,600 square metre.

The Mumbai unit is said of offer 7900 square metre of room area and the Bengaluru unit will be 5700 square metre big. The space will offer space for 4250 racks and 2750 racks in Mumbai and Bengaluru respectively. The company presently has other centres in Mumbai, Bengaluru, Chennai and Noida.

“We booked more than 90 per cent of space even before the launch of these data centres. We are seeing demand from the global hyperscalers, but also from IT outsourcing players in Bengaluru. We are seeing demand from cloud native (started on the cloud) companies,” Sharad Sanghi, Chief Executive Officer of Netmagic is quoted to have said.

India is the third largest data services market in Asia and it is said that India’s cloud services revenue is likely to grow by 37.5 per cent to $2.5 billion in 2018. India is seeing this growth as technology service firms are now shifting to cloud services for e-commerce and Internet of Things (IoT).