—CT News Bureau

Mumbai, March 9: Cloud solution provider Netmagic is looking bullish as more and more companies are taking cloud route and has projected a turnover of Rs. 445 crore by March 2016.

While Netmagic expects to close March 2015 with Rs 350 crore in revenue, it is looking to grow to Rs 445 crore by next year and is looking at e-commerce companies to achieve those numbers.

netmagic

The company has been a strong player in areas like managed services, remote IT management, cloud and data centre business have been adding strong impetus to its business.

The company expects to see e-commerce vertical will be contributing immensely to its sets reveune target growth followed by banking and financial services to continue driving business.

Being operated from Mumbai, Netmagic has eight data centres in the country across Mumbai, Chennai, Delhi-NCR and Bangalore. It has served several customers across the verticals 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 in a TOI report.

As per the report eCommerce accounts for about 27-28% of the company’s revenues, followed by IT/ITeS (23-24%) and BFSI (20%).

The company will also be 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.