Meganet Projects ₹1,000 Crore Revenue in Next Two Years

Computing hardware manufacturing firm Mega Networks (Meganet) is poised to reach ₹1,000 crore in revenue within the next two years, according to founder and CEO Amrish Pipada.

In an interview with PTI, Pipada outlined the company's expansion plans, strategy to leverage India's growing AI server market, and the impact of the Production Linked Incentive (PLI) scheme on its growth.

Expressing confidence in Meganet's capabilities, Pipada projected a 30-40 percent revenue growth for FY25, following the ₹300 crore revenue recorded in FY24.

"We are on track to join the ₹1,000 crore club within the next two years by capitalizing on evolving demands and our growth strategy. This includes enhancing our core business with high-quality products and services, investing in marketing and operational efficiency, and expanding into emerging technologies like semiconductor fabrication, immersion cooling technology, and AI servers," Pipada said.

Last year, Mega Networks delivered between 5,000 and 6,000 servers. The company aims to increase this to 8,000 servers in the current fiscal year. As part of its expansion, Meganet is investing approximately ₹100 crore in a new state-of-the-art factory in Mumbai, with an initial capacity of producing 1,500 servers per month. The new plant is expected to start operations by the end of the year, boosting production capabilities.

Meganet's key clients include leading banks, insurance companies, media houses, healthcare providers, and government bodies, such as Reliance, Tata, VSSC, DRDO, and ISRO. The company exports to 56 countries, including the US, UAE, and Europe.

With the increasing demand for AI servers and the rapid expansion of the Indian data center market, Pipada believes Meganet is well-positioned to capitalize on these opportunities. "We are launching new AI servers designed for businesses and institutions in the era of AI-driven technologies. Our servers feature powerful processors from Nvidia, Intel, and AMD, high-speed memory, advanced cooling, and scalable storage, optimized for AI workloads, deep learning, and data analytics," he said.

Pipada also highlighted the benefits of the PLI scheme for the firm's growth. "With the PLI scheme's support, we have elevated our manufacturing capabilities, enhanced global competitiveness, and achieved substantial growth in exports, potentially increasing by more than 6-10 percent," he said.

With government support and initiatives like the India AI mission and Make in India, the future looks exceedingly promising for Meganet.

HBL