Sify Technologies leases 1.5 lakh sq. ft of office space in Hyderabad's financial district through its subsidiary, Sify Infinit Spaces. The lease spans 60 months, bolstering their presence. Rent will escalate by 3 percent annually. Sify's focus on expanding data centre capacity aligns with India Inc.'s digitization and AI trends. A strategic partnership with Kotak Data Centre Fund for Rs 600 crore enhances growth prospects. Sify aims to add 350 MW of capacity in four years. Their dynamic approach and unwavering vision position them as trailblazers in India's ICT landscape, championing innovation and transforming the digital future.
Sify Technologies, a trailblazer in the Information and Communications Technology (ICT) domain, has achieved a significant milestone by leasing an expansive 1.5 lakh sq. ft of office space in the vibrant city of Hyderabad through its subsidiary, Sify Infinit Spaces. This avant-garde property is nestled in the thriving financial district of Nanakramguda, an epicentre of business and innovation. Spanning five floors, the leased office space reflects Sify's unwavering commitment to establishing a cutting-edge work environment. The agreement boasts a lease period of 60 months, ensuring a strong foothold in the region.
Propstack, a renowned data analytics firm, shared the lease deed document, revealing that Sify will pay rent exceeding Rs 42 with a 3 percent escalation each year. This strategic decision reinforces Sify's vision to maintain a dynamic and forward-looking workspace while embracing technological advancements. Notably, this marks the second remarkable transaction for Sify in the last year. In a visionary move, the company previously secured an impressive 96,000 sq. ft of office space in the financial district for an extensive lease period of 120 months, commencing in 2022.
Fuelling its expansion plans, Sify is keenly focused on augmenting its data centre capacity, a crucial aspect of the ICT industry. As India Inc. embraces digitization and harnesses the potential of Artificial Intelligence, data generation is surging exponentially. To cater to this burgeoning demand, Sify presently operates 11 operational data centres with a capacity exceeding 100 MW. However, the company aims to raise the bar by adding over 350 MW in the forthcoming four years, showcasing a clear commitment to meeting the evolving needs of a digitally driven world.
In an exciting development, Sify Infinit Spaces Ltd., a subsidiary of Sify Technologies, has forged a strategic partnership with Kotak Data Centre Fund (KDCF) to expand its new data centres. This transformative agreement, inked on July 20, 2023, will see KDCF invest up to Rs 600 crore (approximately USD 73 million) through compulsorily convertible debentures of SIS, signifying a shared vision for growth and innovation. These funds will be strategically utilized for expanding new data centres, including essential elements like land acquisition and investment in alternative power sources. Additionally, a significant portion will be allocated towards prudent debt repayment, aligning with Sify's commitment to maintaining a robust financial foundation.
With its dynamic approach to data centre expansion, forward-thinking initiatives, and strategic partnerships, Sify is poised to solidify its position as a pioneering force within the rapidly evolving ICT landscape. Sify's unwavering vision to champion innovation, drive progress, and transform the digital future of India and beyond underpins this bold trajectory.
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