Netmagic eyes Rs 445 crore revenue by March next year

Technology firm Netmagic is targeting revenues of about Rs 445 crore by March 2016, buoyed by the strong demand it is witnessing in areas like managed services, remote IT management, cloud and data centre business.
The Mumbai-based company operates eight data centres in the country across Mumbai, Chennai, Delhi-NCR and Bangalore.
It counts companies like Flipkart, Ratnakar Bank, Hungama, Yatra, Eureka Forbes and Mahindra Holidays among its clients and employs around 1,000 people in India.
"We are witnessing strong growth in our business. As more Internet-centric businesses grow and cloud usage increases, our business would grow with the client," Netmagic Chief Operating Officer Sunil Gupta told PTI.

While Netmagic expects to close March 2015 with Rs 350 crore in revenue, the number should grow to Rs 445 crore by next year, he added.
Netmagic, which has clients across verticals, expects e-commerce sector, followed by banking and financial services to continue driving business.

"eCommerce will continue to take the lead (for growth). They are looking for agility and flexibility, especially when they have sales when they have sudden ramp ups. Also, BFSI may see some revival," Gupta said.
ECommerce accounts for about 27-28 per cent of the company's revenues, followed by IT/ITeS (23-24 per cent) and BFSI (20 per cent).

Part of Japan's NTT Communications Corporation, the firm is also in the process of setting up its largest data centre in Mumbai with an investment of Rs 700 crore. The facility will go live in July.
"We have already signed on anchor customers for the centre and we are happy with the response we have seen," Gupta said.
NTT Communications is part of NTT Corp, which is one of the world's largest telecom operators and data centre operators. It has over 170 data centres globally.
Other companies of the group that have presence in India include Dimension Data, NTT DoCoMo, and NTT Data.