Sify Technologies Limited (SIFY): Business Model Canvas [Dec-2025 Updated]

You're digging into Sify Technologies Limited's engine room, trying to see how they actually make money now that they've moved way past just being an internet provider. Honestly, the story for fiscal year 2025 is all about massive infrastructure plays: they are sitting on over 188 MW of data center capacity and are heavily investing in AI-ready builds, evidenced by their INR 12,745 Million capital expenditure. Look at the revenue split-Network Services at 41% and Data Center Co-location at 38%-that shows where the real cash flow is coming from, especially with Hyperscaler revenue jumping 36.1%. This canvas breaks down exactly how Sify Technologies Limited is running this converged ICT (Information and Communications Technology) powerhouse for over 10,000 enterprises; check out the details below to see the full picture.

Sify Technologies Limited (SIFY) - Canvas Business Model: Key Partnerships

You're looking to map out the ecosystem Sify Technologies Limited relies on to deliver its converged ICT services. Honestly, for a company of this scale, partnerships aren't just nice-to-haves; they are the infrastructure itself. Here's a breakdown of the key alliances that underpin Sify Technologies Limited's operations as of late 2025, grounded in the latest available figures.

Global Cloud Providers: AWS, Microsoft Azure, Google Cloud for Hybrid Solutions

Sify Technologies Limited's hybrid and multi-cloud strategy requires deep integration with the hyperscalers. These relationships are critical, as Sify competes and collaborates within a market dominated by these giants. As of Q2 2025, the global cloud infrastructure market was estimated at around $750 billion, with the top three controlling the lion's share. Sify must align its service delivery with the market realities of these partners.

Here's how the market looked in Q2 2025, which frames the environment Sify operates in:

Cloud Provider	Global Market Share (Q2 2025)	Year-on-Year Growth Rate (Approx.)
Amazon Web Services (AWS)	31%	Slower than peers
Microsoft Azure	26%	High, strong in enterprise/government
Google Cloud	11%	Fastest growing (around +30% YoY)

Sify Technologies Limited leverages these platforms to offer its public, private, and managed cloud services, ensuring high availability and performance for its clientele. The focus remains on interoperability to support enterprise digital transformation across the Hybrid IT landscape.

Strategic Anchor Tenants: Meta for a massive 500 MW data center project

The partnership with Meta Platforms is a landmark commitment for Sify Technologies Limited, especially as it prepares for a potential local listing in 2026. This deal solidifies Sify Infinit Spaces Limited's position in the hyperscale segment. Sify is expected to invest approximately Rs 15,266 crore (around USD 1.8 billion) to build this facility, which will be leased entirely to Meta.

This anchor tenancy is part of a larger regional push, where the Andhra Pradesh government sanctioned 550 MW for Sify Technologies Limited's data center ecosystem contribution, alongside Google's 1 GW commitment. Furthermore, Meta will land its ambitious 'Waterworth' subsea cable project at Sify's landing station, enhancing international bandwidth for the region.

• Data Center Capacity Leased to Meta: 500 MW
• Sify Expected Investment: Rs 15,266 crore
• Meta's Subsea Cable: 'Waterworth' (over 50,000 kilometres)
• Sify's Local AI Edge Data Centre Capacity: 50 MW
• Investment for 50 MW AI Edge DC: Rs 1,500 crore (approx. $170 Million)

Technology Vendors: Cisco, VMware, Oracle, and SAP for enterprise integration

While specific financial breakdowns of procurement from technology vendors like Cisco, VMware, Oracle, and SAP aren't public, these alliances are fundamental to Sify Digital Services Limited's ability to deliver complex enterprise integration. Sify Technologies Limited serves over 10,000 businesses across multiple industries, meaning the underlying technology stack must be certified and supported by these global majors to maintain service integrity.

The company's strength lies in its ability to build solutions on top of these established platforms, rather than just reselling them. This is what allows Sify Technologies Limited to manage the full spectrum of ICT needs for its diverse customer base.

Telecom Infrastructure: Collaborations with Reliance Jio and Bharti Airtel for network reach

Sify Technologies Limited's network services, which accounted for 41% of its revenue in FY2025, depend heavily on robust national connectivity. Sify provides services via 1,137 fiber nodes across India, an increase of 10% over the last fiscal year, and 1,870 wireless base stations, up 8% YoY as of March 31, 2025. These figures reflect the necessary scale to interconnect its data centers and enterprise clients.

Competitors and potential collaborators in the broader telecom space, like Reliance Jio and Bharti Airtel, are also aggressively expanding their infrastructure. For context, as of March 2025, Jio had a subscriber base of 488 million, while Airtel had 365 million India subscribers. The ecosystem is characterized by massive infrastructure build-outs, including Google's partnership with Bharti Airtel for a data centre in Vizag.

External Assurance: Mazars Advisory LLP for FY2025 sustainability reporting

Transparency regarding Environmental, Social, and Governance (ESG) performance is now a key stakeholder expectation. For Sify Technologies Limited's Integrated Report covering the period from April 1, 2024, to March 31, 2025 (FY 2024-25), the company engaged an independent third party for verification. Mazars Advisory LLP was the firm responsible for providing limited assurance over key sustainability performance indicators in that report. This external validation is a necessary step for a NASDAQ-listed entity seeking to demonstrate commitment to long-term sustainable value creation.

Finance: draft 13-week cash view by Friday.

Sify Technologies Limited (SIFY) - Canvas Business Model: Key Activities

Sify Technologies Limited's Key Activities center on building, operating, and managing a converged Information and Communications Technology (ICT) ecosystem for enterprises. This involves heavy, continuous investment in physical and digital infrastructure.

Data Center Operations: Managing 14 operational facilities and expanding capacity

Sify Technologies Limited is actively managing and expanding its physical data center footprint. At the end of the fiscal year 2025 (FY2025), Sify made available more than 188 MW of IT Power Capacity across its operational facilities. The expansion included adding new premises in Mumbai and Noida during FY2025. For instance, in the second quarter of FY2025-26 (ending September 30, 2025), the company commissioned an additional 3 MW of data center capacity. Sify Technologies Limited serves a wide variety of customers, including global OTT players and a leading social media network, within these data centers.

Network Management: Operating India's largest enterprise MPLS network

The network segment remains a core activity, underpinning the delivery of services across India and internationally. Sify Technologies Limited connects over 10,000 businesses across more than 1,700+ cities in India. The network business is a significant revenue driver, accounting for 41% of the total revenue for the second quarter of FY2025-26. The expansion of the physical network backbone and the deployment of software-defined networking (SDN) capabilities are constant activities.

Here are the latest metrics for the network infrastructure:

Metric	As of March 31, 2025 (End of FY2025)	As of September 30, 2025 (Q2 FY2026)
Fiber Nodes	1,137	1,196
Contracted SDWAN Service Points	10,772	9,992

Digital Transformation Services: Delivering cloud migration and application modernization

A key activity involves delivering professional digital services built on top of the core infrastructure assets. This includes managed services across Data Center, Cloud, Network, Security, and application modernization. For the year ended March 31, 2025, Digital services contributed 21% to the total revenue. In the most recent reported quarter, Q2 FY2025-26, this segment accounted for 20% of the revenue. Sify Technologies Limited focuses on a catalogue-driven and optimized Hybrid Delivery Model for these services.

Infrastructure Investment: Deploying capital expenditure of INR 12,745 Million in FY2025

Aggressive capital deployment is a necessary activity to support the growth in data center and network capacity. For the full fiscal year 2025 (FY2025), Sify Technologies Limited deployed a total capital expenditure (CapEx) of INR 12,745 Million. This represented a 19% year-over-year increase in investment. The company's commitment to growth continued into the next fiscal year, with CapEx reported at INR 3,064 Million for the second quarter of FY2025-26 alone.

AI Infrastructure Development: Building AI-ready data centers and GPU-as-a-Service

Sify Technologies Limited is actively positioning itself for the Artificial Intelligence (AI) computing wave. This involves specific infrastructure development and strategic partnerships. In September 2024, Sify became an NVIDIA colocation partner under the NVIDIA DGX-Ready Data Center program, a first for an Indian data center provider. This certification validates their data center deployment specifications to support high-density racks of up to 130 KW/rack, including support for liquid cooling. Furthermore, the company is securing contracts for advanced hardware, as evidenced by one of the largest national banks contracting for the deployment of NVIDIA GPU H200 services.

The revenue contribution from the Data Center segment, which hosts this infrastructure, was 39% of the total revenue in Q2 FY2025-26, showing its increasing importance alongside Network services.

• Data Center Colocation Services Revenue Share (Q2 FY2025-26): 39%.
• AI-ready campus projects are underway, including a 130 MW facility in Siruseri.
• The company has a stated plan to invest a total of US$ 5 billion into expanding data hubs and integrating AI operations.

Sify Technologies Limited (SIFY) - Canvas Business Model: Key Resources

You're looking at the core assets Sify Technologies Limited relies on to deliver its converged ICT services. Honestly, for a company with over two decades in the game, these physical and intellectual assets are what anchor their market position.

Data Center Capacity

Sify Technologies Limited has built out significant physical infrastructure. As of the end of the fiscal year, they reported having over 188 MW of IT power capacity spread across 14 Data Centers in India. This capacity is evolving rapidly, especially with AI workloads in mind. For example, the Q1 FY2026 results mentioned operational capacity rose to 138 MW after adding 8.6 MW in that quarter alone. They also have major projects underway, like two additional Mumbai facilities planned for 52 MW each, which are currently under construction. The new AI-ready campus in Chennai has an eventual capacity target of 130 MW.

Here's a quick look at how that capacity is structured and growing:

Metric	Value	Reporting Date/Context
Total IT Power Capacity	188 MW	FY2025 End (Cumulative)
Total Data Center Facilities	14	FY2025 End (Cumulative)
Operational Capacity (Post Q1 FY26 Addition)	138 MW	As of July 18, 2025
Planned Capacity per New Mumbai Facility	52 MW	Under Construction
Eventual Capacity of Chennai Campus	130 MW	Target

Fiber Network

The physical network backbone is a critical resource. Sify Technologies Limited maintains an extensive domestic network. As of March 31, 2025, they reported servicing customers via 1,137 fiber nodes. This has continued to expand; by September 30, 2025, the count had grown to 1,196 fiber nodes across the country. This network underpins their connectivity services.

Cloud Platform

The proprietary platform is Sify CloudInfinit+AI, designed specifically to handle hybrid and increasingly important AI workloads. This platform is being enhanced with AI-ready infrastructure, including Nvidia certification for liquid cooling at 130 kilowatts per rack in key data centers like Mumbai, Chennai, and Noida. They've even launched a 'bring your own GPU' pay-per-use colocation offering, shifting GPU inventory risk to the client.

Human Capital

The expertise built over time is invaluable. Sify Technologies Limited has over two decades of global expertise in delivering converged ICT solutions. This deep knowledge base supports their complex service delivery across Data Center, Cloud, and Network segments. They serve more than 10,000 enterprises across multiple verticals.

• Expertise tenure: Over 20 years in Digital ICT.
• Customer base: More than 10,000 businesses served.
• Global Reach: Network connects businesses in over 20 countries.
• SD-WAN Deployment: Deployed 9,992 contracted SDWAN service points as of September 30, 2025.

Financial Strength

Fiscal discipline supports these large-scale infrastructure investments. At the end of the fiscal year 2025 (March 31, 2025), Sify Technologies Limited reported a cash balance of INR 6,836 Million. To be fair, that balance adjusted to INR 4,149 Million by the end of Q2 FY2026 (September 30, 2025), reflecting ongoing strategic capital expenditure.

Sify Technologies Limited (SIFY) - Canvas Business Model: Value Propositions

You're looking at what Sify Technologies Limited actually delivers to its enterprise customers right now, based on their latest numbers. It's all about integration and future-proofing their infrastructure for the AI wave.

Converged ICT Ecosystem: Single-pane service for Network, Data Center, Cloud, and Digital Services

Sify Technologies Limited offers a single point of contact for a full stack of services, which is key for simplifying IT management for large organizations. This converged approach is reflected in how their revenue breaks down, showing reliance on core infrastructure:

Service Segment	Revenue Contribution (Q2 FY2025-26)	Revenue Contribution (FY2025 Annual)
Network services	41%	41%
Data Center services	39%	38%
Digital services	20%	21%

The company supports this ecosystem with a vast physical footprint. As of September 30, 2025, Sify Technologies Limited provides services via 1,196 fiber nodes across the country, a 12% year-on-year increase. They have deployed 9,992 contracted SDWAN service points across the network. Also, Sify Technologies Limited serves more than 10,000 enterprises.

Digital@core Strategy: Enabling end-to-end enterprise digital transformation

The Digital@core philosophy means Sify Technologies Limited is focused on being the foundational partner for enterprise digital shifts. This is evident in their success with major infrastructure consumers:

• Sify Technologies Limited serves 3 out of 4 Hyperscalers.
• Hyperscaler revenue growth for the full year FY2025 was 36.1%.
• The company manages the network connectivity for the majority of India's inter-banking data transactions.

For the full fiscal year ended March 31, 2025, Sify Technologies Limited posted consolidated revenues of INR 39,886 Million, growing 11.93% year-over-year.

AI-Ready Infrastructure: Low-latency interconnects and GPU-as-a-Service for AI workloads

Sify Technologies Limited is positioning its data centers to handle the compute demands of Artificial Intelligence. They offer specific infrastructure designed for this:

The company operates AI-ready data centers in Noida, Mumbai (Rabale), and Chennai, featuring advanced liquid cooling. The Noida campus alone offers over 130+ MW of IT Power. Sify Technologies Limited also offers GPU-as-a-Service via its CloudInfinit+AI platform, currently conducting proof-of-concept trials with Indian enterprises.

High Availability: Enterprise-class technology guaranteeing performance and security

Reliability is a core promise, backed by specific infrastructure metrics. Sify Technologies Limited guarantees 99.999% Uptime. This is supported by their physical assets:

As of the end of FY2025, Sify Technologies Limited made available more than 188 MW of IT Power Capacity across its 14 operational Data Centers. The Rabale hyperscale campus in Navi Mumbai is designed for up to 377+ MW IT capacity.

Flexible Commercial Models: Offering usage-based and business-outcome-based pricing

The value proposition includes commercial flexibility, moving beyond just selling capacity to selling results. Sify Technologies Limited serves over 25 million subscribers using a business-outcome-based model.

Operationally, the company is focused on efficiency gains even while investing heavily. For the quarter ending September 30, 2025, EBITDA reached INR 2,361 Million, a strong 20% increase year-over-year, despite revenue growth being only 3% to INR 10,533 Million. Capital expenditure for that quarter was INR 3,064 Million.

Finance: draft 13-week cash view by Friday.

Sify Technologies Limited (SIFY) - Canvas Business Model: Customer Relationships

You're looking at how Sify Technologies Limited keeps its enterprise customers locked in and growing their spend; it's all about deep alignment, not just selling boxes.

Consultative Engagement: Transformation-driven practice aligned to industry verticals

Sify Technologies Limited positions itself as a convergence bridge, meaning the relationship starts with understanding the client's transformation goals, not just fulfilling an order. They emphasize a transformation-driven practice that is specifically aligned to industry verticals. For instance, they are not just a network provider; they are a partner where the majority of India's inter-banking data transactions and network connectivity is designed, implemented and managed by Sify. This deep, vertical-specific approach is key to securing those stickier, higher-value digital services contracts.

Dedicated Account Management: Serving over 10,000 enterprises directly

The scale of direct engagement is significant. Sify Technologies Limited delivers strategic business value to more than 10,000 businesses across multiple verticals. These relationships span a wide geography, with customers conducting business seamlessly from more than 1,700 cities in India. This broad base suggests a highly structured account management approach is necessary to maintain service quality and identify upsell opportunities across their core offerings of Data Centers, Networks, and Digital services. It's a defintely large footprint to manage.

Managed Services Model: Outsourcing of full-spectrum ICT needs

The Managed Services Model is central to the Digital Services segment, which covers Cloud and Managed services. Looking at the revenue split for the second quarter of FY 2025-2026, Digital services accounted for 20% of the total revenue, while Network services was 41% and Data Center services was 39%. For the full fiscal year 2024-25, Digital services contributed 21% of revenue. This segment represents the full-spectrum ICT outsourcing that clients hand over to Sify Technologies Limited.

Long-term Contracts: Securing multi-year agreements with major financial institutions

The financial sector is a clear anchor for long-term, high-value agreements. Sify Technologies Limited has secured contracts with major financial institutions, including the country's largest bank for data center capacity and a private bank for near-disaster recovery services. Furthermore, other financial entities have recently contracted for services; for example, the GCC of an international bank signed up for interconnects to the cloud platform in Q2 FY2025-26, and multiple State and Private banks signed up for managed SD WAN services in the same period. These deals underscore a reliance on long-term, resilient infrastructure commitments.

Here's a quick look at the infrastructure footprint supporting these customer relationships as of late 2025:

Metric	Value (As of Sep 30, 2025)	Value (As of Mar 31, 2025)
Fiber Nodes	1196 (up 12% YoY)	1,137 (up 10% YoY)
Contracted SD-WAN Service Points	9992	1,870
Total IT Power Capacity (MW)	N/A	More than 188 MW (across 14 Data Centers)
Cities Served Seamlessly	N/A	1,700+

Finance: draft 13-week cash view by Friday.

Sify Technologies Limited (SIFY) - Canvas Business Model: Channels

You're looking at how Sify Technologies Limited gets its services-from the data center floor to the client's desktop. It's a mix of direct human touch and massive digital infrastructure reach, which is key for a company delivering services across the entire digital spectrum.

Direct Sales Force: Sify Technologies Limited relies on enterprise account teams to manage relationships with its client base, which currently serves more than 10,000 businesses across multiple verticals.

Digital Platform: The company uses the One Sify Marketplace as a single digital point for customers to access all its services, which include Data Centers, Networks, Cloud, and Digital Services.

Domestic Footprint: Sify Technologies Limited delivers its services across more than 1,700+ cities and towns throughout India. This extensive reach is supported by its underlying network assets.

The scale of Sify Technologies Limited's domestic network as of late 2025 is detailed below:

Metric	Value (As of September 30, 2025)	Change/Context
Fiber Nodes Provided Services Via	1,196	12% increase over the same quarter last year.
Contracted SD-WAN Service Points Deployed	9,992	Across the country.
Data Center Capacity Commissioned (Q2 FY2026)	3 MW	Additional capacity sold during the quarter.

Global Offices: For international clients, Sify Technologies Limited maintains a presence in key global hubs. This structure supports Indian enterprises reaching global markets and global firms operating in India.

• North America (locations include Santa Clara and New Jersey)
• The United Kingdom
• Singapore
• Canada (Toronto)

The global network reaches 7 countries via 8 global Points of Presence (POPs).

Sify Technologies Limited (SIFY) - Canvas Business Model: Customer Segments

You're looking at the core client base for Sify Technologies Limited as of late 2025, which is heavily weighted toward large, established entities needing robust digital infrastructure.

Sify Technologies Limited serves a broad spectrum of clients, positioning itself as the preferred partner for organizations undergoing digital transformation.

The company explicitly states that more than 10,000 businesses across various sectors benefit from its Data Centers, Networks, and Security services. These clients conduct business seamlessly across more than 1,700 cities in India.

Here is a breakdown of the key customer segments Sify Technologies Limited targets:

• Large Indian Enterprises: Over 10,000 businesses served across multiple verticals.
• Hyperscalers: Global cloud service providers and a leading social media network utilize Sify's Data Center assets.
• BFSI Sector: Includes the country\'s largest bank and institutions handling India's inter-banking data transactions.
• Government and Public Sector: Acts as a technology partner to the Government of India, securing contracts for security builds and technology refresh projects with public sector banks and state government IT missions.
• Global OTT Players: Sify Technologies Limited serves global OTT players via its Data Center infrastructure.

The scale of infrastructure supporting these segments is significant, as shown in the latest figures:

Metric	Value/Detail	As of Date/Period
Total Businesses Served	Over 10,000	FY 2024-25
Geographic Reach (India)	1,700+ cities	FY 2024-25
Data Center Capacity	More than 188 MW of IT Power Capacity	March 31, 2025
Total Data Centers	14	March 31, 2025
Fiber Nodes	1,196	September 30, 2025
Contracted SD-WAN Service Points	9,992 deployed	September 30, 2025

Within the BFSI segment specifically, Sify Technologies Limited secured contracts with major financial institutions, including the country's largest bank for data center capacity and a private bank for near-disaster recovery services. Furthermore, the company manages the network connectivity for the majority of India's inter-banking data transactions. Recent engagements in Q3 FY 2024-25 included a public sector bank, an insurance major, and a fintech major signing up for technology refresh services. The company also signed a global banking major for cloud interconnection in Q3 FY 2024-25.

Financially, the Data Center services segment, which directly supports Hyperscalers and large BFSI clients, accounted for 39% of revenue in Q2 FY26, while Network Services was 41% and Digital Services was 20% for that quarter. For the full Fiscal Year 2024-25, the revenue split was Data Center services at 38%, Network services at 41%, and Digital services at 21%, with total revenue at INR 39,886 Million.

The company continues to expand its physical footprint to meet this demand; for instance, Sify commissioned 3 MW of additional Data Center capacity in the quarter ending September 30, 2025.

Sify Technologies Limited (SIFY) - Canvas Business Model: Cost Structure

You're looking at the hard numbers driving Sify Technologies Limited's operational scale, which is heavily weighted toward infrastructure build-out. Honestly, the cost structure is dominated by the necessary, but expensive, race to build capacity ahead of demand in the Indian digital economy.

Capital Expenditure (CAPEX)

The single largest driver of cost commitment is Capital Expenditure, which reflects Sify Technologies Limited's aggressive positioning in the data center and network space. For the full fiscal year 2025 (FY2025), the total Capital Expenditure reached INR 12,745 Million. This represented a substantial 19% year-over-year increase, showing a clear intent to fund future readiness. This spending is directly tied to expanding the physical footprint required to serve hyperscale and AI workloads.

Operating Costs

The day-to-day costs are directly proportional to the sheer scale of the physical assets Sify Technologies Limited maintains. This includes the ongoing operational expenditure (OpEx) to keep the lights on and the network running across the country. The maintenance burden is significant, covering:

• The upkeep of 14 live data centers.
• Maintaining connectivity across 1,137 fiber nodes as of March 31, 2025.
• Managing the network supporting 10,772 contracted SD-WAN service points as of March 31, 2025.

The company's total revenue for FY2025 was INR 39,886 Million, against which these operational costs must be managed.

Manpower Expenses

Sify Technologies Limited has explicitly flagged rising manpower costs as a headwind impacting recent financial results. This reflects the need to secure and retain specialized technical talent necessary to manage and innovate within complex, high-tech infrastructure like AI-ready data centers and advanced network solutions. The cost of this expertise is a non-negotiable component of the operating expense base.

Financing Costs

The debt-funded expansion strategy, evidenced by the high CAPEX, naturally translates into significant non-operating costs, primarily interest and depreciation. Management commentary confirms that interest expenses and depreciation weigh on current profitability. To give you a concrete look at the scale of these non-cash and cash costs, here are some figures from the period leading up to the end of FY2025:

Here's a snapshot of the key financial metrics that define the cost base:

Cost Component / Metric	Amount (INR Million)	Period / Date	Source Reference
Total Capital Expenditure (CAPEX)	12,745	Full Year FY2025
Depreciation and Amortisation Expense	1,446	Quarter Ended December 2024 (Q3 FY2025)
Interest Expenses on Borrowings and Lease Liabilities	729	Quarter Ended December 2024 (Q3 FY2025)
Total Operational Data Center Capacity	188 MW IT Power Capacity	As of March 31, 2025
Full Year Net Loss	785	Full Year FY2025

Furthermore, the data center subsidiary recorded an income tax expense, including deferred tax, of INR 539 Million on its profit for FY2025. The company is also actively pursuing renewable energy agreements, such as a 75MWp power purchase agreement, which is intended to reduce future energy costs and carbon emissions. Finance: draft 13-week cash view by Friday.

Sify Technologies Limited (SIFY) - Canvas Business Model: Revenue Streams

You're looking at how Sify Technologies Limited brings in the money, which is really about how they've structured their core offerings to capture value from India's massive digital push. As a seasoned analyst, I can tell you the revenue mix for the full fiscal year ending March 31, 2025, shows a clear reliance on their foundational infrastructure services.

The total consolidated revenue for Sify Technologies Limited for the full year of FY2025 hit INR 39,886 Million. That's the top-line number we need to anchor this analysis.

Here's the quick math on how that INR 39,886 Million was split across the three main service categories for FY2025:

Revenue Stream	FY2025 Contribution Percentage	Calculated FY2025 Revenue (INR Million)
Network Services	41%	16,353.26
Data Center Services (Co-location)	38%	15,156.68
Digital Services (Cloud/Managed Services)	21%	8,376.06

Honestly, the stability comes from the infrastructure backbone. Network Services and Data Center Services together accounted for 79% of the total revenue in FY2025. That's where the heavy, long-term capital expenditure goes, but it also provides the most predictable recurring revenue.

Focusing on the specific components within those streams, you see Sify Technologies Limited is heavily invested in keeping the pipes and the physical space running:

• Network Services: Contributed 41% of total revenue in FY2025.
• Data Center Services (Co-location): Contributed 38% of total revenue in FY2025.
• Digital Services (Cloud/Managed Services): Contributed 21% of total revenue in FY2025.

The growth story, however, is increasingly tied to the hyperscale demand. While I don't have the exact FY2025 figure you mentioned, the focus on this area is clear from their recent activity. For instance, in Q2 of FY2025-26 (ending September 30, 2025), the Data Center Services segment revenue share ticked up to 39% of the quarterly revenue, showing its increasing importance relative to Network Services at 41% and Digital Services at 20% for that quarter.

The market is definitely rewarding the infrastructure plays. The push for AI and compute power means the Data Center segment is critical. The fact that the company is making strategic investments in hyperscale data centers and AI-ready platforms shows where they expect the highest growth multipliers to come from going forward. That focus is defintely the near-term action item for tracking Sify Technologies Limited's performance.