India is important from a talent perspective, he said, adding that the company recently launched a center of excellence in Bengaluru, which will expand in the coming years.
Indian IT company Black Box expects a three-fold increase in revenue to $2 billion over the next three years, driven by demand for critical technology infrastructure.
Black Box president and CEO Sanjeev Verma told PTI that the focus on digital infrastructure, connectivity, networking, modern cybersecurity in the workplace, along with artificial integration, will give the company a huge runway.
“I think we see the future of the digital infrastructure sector growing thanks to hybrid activities on the data center side, the requirement for people to collaborate across continents and cultures, and hybrid workplaces that have become a norm post-Covid.”
“We are looking at double-digit organic growth in the coming years and expect to reach a turnover of $2 billion (Rs 16,632 crore) in the next three years,” Verma said.
The company had reported consolidated revenue of Rs 6,233 crore in FY23, according to a BSE filing.
Black Box partners with major technology companies such as Amazon, Google, Meta and Microsoft to help build their high-density data centers.
Verma said the opportunity for the company lies in 5 and 10 gigawatt data centers, which is a more than $300 billion market globally.
“Our addressable market is 15 percent of that. That's $45 billion. Even 5 percent of that is $2 billion.”
“I think we are focused on getting the right talent so that we can leverage the potential that we see globally in the infrastructure space, and of course America will always lead the way there,” Verma said.
Black Box gets 70 percent of its revenue from the US, 15 percent from Europe, and the rest from the Asia-Pacific region.
“Right now I think we are 4,000 strong and active in 35 countries. From a revenue perspective, I think we are reaching about Rs 7,000 crore. That is about a seven to eight times increase over 2019, when we were only at Rs 700 crore.”
India is important from a talent perspective, he said, adding that the company recently launched a center of excellence in Bengaluru, which will expand in the coming years.
“If you reach $2 billion, I expect significant hiring. The number of people may go up from 4,000 to 7,000-8,000 and a lot of the hiring will also be in India,” Verma said.
It will be critical for Black Box to onboard high-quality talent in Bengaluru and Mumbai to support our global rollout, he said, adding, “And that started last year with 500 people in Bengaluru.. …we expect to double that in the next few years.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: December 28, 2023 | 7:04 PM IST
