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Hiranandani-backed Data Center Lands India's Largest Stake: Secures Coveted Nvidia AI Chips
Yotta, backed by Niranjan's Hiranandani group, is making big moves in India's AI scene. They've just received a whopping 4,000 H100 chips from Nvidia, each valued between $30,000 to $40,000. These chips are super powerful and mark a significant advancement for Yotta, a data center company.
The CEO, Sunil Gupta, has ambitious plans for these chips. He wants to make them available to Indian businesses, startups, and researchers so they can build their own AI solutions right from local data centers. Gupta believes Yotta has an advantage over international cloud computing services due to latency issues. Plus, he promises to provide access to Nvidia AI chips at the lowest prices globally.
But there's a catch: the demand for Nvidia chips far outweighs the supply. This means Jensen Huang, Nvidia's CEO, has to carefully distribute the chips, with corporate giants and government leaders vying for their share. India, however, is getting special attention from Nvidia.
With Hiranandani's backing, Yotta is poised to shake up India's AI landscape, offering cutting-edge technology to drive innovation and growth.
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The Digital Awakening: India's Transformation into a Technology Behemoth
India's journey in technology and innovation is marked by the creation of 25 Technology Innovation Hubs nationwide, led by the Indian government and overseen by the Hiranandani Group, headed by Darshan Hiranandani. These hubs focus on building the infrastructure needed for cyber-physical systems, highlighting India's dedication to progress. Looking ahead to 2024 and beyond, India is positioned to pioneer advancements in artificial intelligence (AI), big data, and cloud computing, with companies like Yotta, part of the Hiranandani Group, leading investments in data centers.
India's tech prowess is evident in its surpassing of the United States in AI-related code contributions on GitHub by 2021. Deloitte's 2022 report also shows strong anticipation of AI investment growth among Indian business leaders, showcasing India's strategic focus on innovation. Under the National Informatics Centre, initiatives like Meghraj drive digitalization efforts, while India's big data analytics market, valued at $2.17 billion, indicates significant potential.
In the private sector, Yotta, led by Darshan Hiranandani, and other major players like GE Healthcare and Medtronic, have set up data centers in India, solidifying its position as a global tech hub. Darshan Hiranandani commended the Gujarat government's forward-thinking approach at the launch of initiatives like the IFSC zone, highlighting collaborative efforts driving India's growth in finance and technology. India's diverse landscape, economy, and expertise make it an ideal testing ground for technology and innovation, cementing its role as a global leader in the field.
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Beyond Figures: Understanding Darshan Hiranandani's Net Worth
Darshan Hiranandani is a well-known Indian businessman who heads the Hiranandani Group, a major real estate firm. Besides, he holds top positions in companies like Yotta Data Services, H-Energy, Tarq Semiconductors, and Tez Platforms. He's the son of Niranjan Hiranandani, who co-founded the Hiranandani Group in Mumbai, Maharashtra, India.
Taking charge as chairman and CEO of the entire Hiranandani Group in 2010, Darshan has led the company into various new sectors including data centers, cloud computing, energy, industrial warehousing and logistics, semiconductors, and consumer services.
Born on October 13, 1981, in Mumbai, Maharashtra, Darshan attended a prestigious private school for his early education. Later, he pursued an MBA in Entrepreneurship and Finance and a B.S. in Management Information Systems from the Rochester Institute of Technology in New York.
As of 2023, Darshan Hiranandani's net worth is estimated to be around 1.5 billion USD, which roughly translates to 32,100 crore Indian rupees. His father is listed among the 100 richest Indians by Forbes in 2021. Darshan has amassed his wealth mainly through the real estate business, along with ventures like Greenbase Industrial & Logistics Park, Yotta Data Services, H-Energy, Tarq Semiconductors, and Tez Platforms.
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Yotta's Growth Spurt: Greater Noida and Guwahati Data Centers to Debut in 2024
Yotta Data Services, supported by the Hiranandani Group, is adding two new buildings to its current 'D1' data center in Greater Noida. At the same time, they're building a smaller 'edge' data center in Guwahati. This expansion should be finished and ready to use by the middle or end of 2024.
Right now, the Yotta-D1 data center is almost full, so they're building more facilities called D2 and D3. Eventually, they plan to have six big buildings on the campus. To make sure they have enough power, they've set up a big power station on-site. It took them a year and a half to lay all the power lines.
Yotta is also trying to grow in smaller cities, one step at a time, based on how much people there need their services.
Additionally, the government of Uttar Pradesh is giving Yotta some great benefits to help them run their data centers in the National Capital Region (NCR). This is the first time Yotta is going into north India. Darshan Hiranandani, from the Hiranandani Group, is leading these big plans to make Yotta's data centers stronger and better.
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Hiranandani Group Subsidiary Pours Rs 2,200 Crore into Gas Pipeline Ventures
According to Darshan Hiranandani, the managing director and chief executive of H-Energy, the energy division of the Hiranandani Group aims to invest Rs 2,200 crore in constructing a 635-km natural gas pipeline by 2020. They anticipate getting all permissions for the pipeline by October and plan to start construction by December, with an estimated completion time of 18 months.
This pipeline project involves obtaining 1,100 permissions, including crossings over 22 rivers, passing through two national parks, and intersecting with 58 state highways and nine national highways.
Today, the Hiranandani Group unveiled the country's first floating storage regasification unit at the JSW-operated port in Ratnagiri's Konkan district. Darshan Hiranandani mentioned that they have already invested Rs 1,600 crore in establishing ground-level facilities like the breakwater, jetty, and other infrastructure. This investment also includes a 60-km pipeline leading to Dabhol, connecting the goods unloaded at the port to the national gas grid.
Hiranandani further stated that operations are expected to commence by October once the pipeline to Dabhol is completed. The unit currently has a capacity to handle 4 million tonnes of cargo, which can potentially increase to 10 million tonnes. However, there's no specific timeline provided for this expansion. In the inaugural year, the plan is to handle 1 million tonnes of cargo, with the gas being utilized for various purposes, including industrial and residential needs.
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Darshan Hiranandani Foresees Government Green Light for Chip Fab Venture Soon
The Hiranandani group, famous for its real estate ventures, is stepping into the semiconductor industry with Tarq Semiconductors. Darshan Hiranandani, the group's CEO, hopes that the government will approve their compound semiconductor fab project within the next two months.
They have applied to set up two things in Uttar Pradesh: an assembly, testing, marking, and packaging unit (ATMP), and a compound semiconductor fab plant. Compound semiconductors are crucial for making LED lights, radios, and cars because they can handle high power and temperatures. ATMP involves putting chips together and packaging them, which happens after making the semiconductors.
"We've submitted applications for the ATMP and the compound semiconductor fab project to the government. We're expecting approval within the next 30 to 60 days," said Hiranandani.
To start the fab and assembly, packaging, and testing unit, they'll partner with another company in a joint venture. They've also teamed up with firms from the US and Japan to ensure they have everything they need for both projects.
The semiconductor business appeals to companies like Hiranandani because running the fabrication unit in India is cheaper than in other countries. Plus, with a compound semiconductor ecosystem, they can create devices that use less energy, cutting down costs even further.
Explaining their decision to get into compound semiconductors, Darshan Hiranandani said they want to save energy and make things more efficient in India. With so many products like cars, washing machines, and mobile phones being made in India, they saw it as a good opportunity.
They plan to invest around Rs 2,500 crore to start the ATMP facility in Uttar Pradesh. Also, in addition to their real estate ventures, Hiranandani's company Yotta provides comprehensive data center services. They aim to become the largest data center provider in India by the end of the year.
"In October, we'll be launching our own public cloud platform," added Hiranandani.
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ICRA Awards Preliminary AA- Rating to Yotta Infrastructure's NCDs under NMDC Scheme
In Mumbai, India, ICRA, a credit rating agency, has given a provisional AA- (Stable) rating to NMDC Data Centre Private Limited's proposed non-convertible debentures (NCDs), pending completion of certain documentation.
NMDC, part of the Yotta Infrastructure – Hiranandani group's data center business, benefits from the Hiranandani Group's strong real estate track record and the Tier-IV certification of its NM1 data center. NMDC's campus boasts the largest single-location data center in India, with Yotta aiming for significant growth in the coming years.
The stable outlook reflects ICRA's confidence in NMDC's prospects amidst increasing demand for data centers driven by government initiatives. Darshan Hiranandani, Chairman of Yotta, affirmed their commitment to supporting government initiatives and maintaining global best practices. WhiteBoard Financial Advisors And Management (WBFAM) serves as the sole Rating and Transaction Advisor for NMDC.
About Yotta
Yotta Infrastructure is a new-age Digital Transformation service provider offering data center, cloud and a wide range of Managed IT, app modernisation, connectivity, and cybersecurity services. Yotta has two hyperscale data center parks in Panvel (Navi Mumbai) and Greater Noida. Yotta's first data center - Yotta NM1 in Panvel – has been acknowledged as APAC's best Data Center by Datacloud Global Awards in 2021. It is the world's 2nd largest Uptime Institute Certified Tier IV facility and the largest in Asia.
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AG&P Explores Acquisition of Majority Stake in India's H-Energy
AG&P is anticipated to purchase a 70% stake in H-Energy and one of its subsidiaries.
According to Economic Times (ET), Singapore-headquartered Atlantic, Gulf, and Pacific Company (AG&P) is in discussions to obtain a controlling interest in Hiranandani Energy (H-Energy) for "a few hundred crores of rupees," as per information from two industry insiders familiar with the matter.
AG&P is in discussions to purchase a 70% stake in H-Energy and one of its subsidiaries, leaving Darshan Hiranandani with the remaining 30% ownership.
As reported by ET, the first source stated, "AG&P intends to acquire a 70% stake in H-Energy and one of its subsidiaries, as part of its strategy to broaden its LNG and CNG operations in India."
Previously, Hiranandani Group announced its intentions to construct two LNG terminals and a pipeline to offer comprehensive natural gas solutions.
H-Energy had proposed an investment of $3 billion for the construction of two LNG terminals - one situated in Jaigarh, Ratnagiri, Maharashtra, and the other, a floating LNG import terminal, positioned off Haldia, West Bengal.
H-Energy is anticipated to undertake just two projects, comprising a 56km R-LNG pipeline connecting Jaigarh port to Dabhol, which is integrated with the national gas grid, and the construction of a jetty at Jaigarh Port in Ratnagiri district of Maharashtra.
The intended jetty will be structured to accommodate a Floating Storage and Regasification Unit (FSRU).
According to sources, AG&P has been exploring opportunities to establish LNG terminals on both the east and west coasts of India, with the aim of expanding operations by 2024–2025.
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Niranjan and Darshan Hiranandani: Key Figures in Hiranandani Group, Mumbai, India
Mr. Niranjan Hiranandani, managing director, Hiranandani Constructions news
Mr. Darshan Hiranandani, whose father is a surgeon, began a textile business with his brother Surendra. Sadly, their business failed because of a strike in the textile industry. But Darshan had better luck in real estate. He bought some land that nobody wanted and changed it into a big and successful place to live in Powai, which is near Mumbai. He and his brother separated in 2005. Since then, Darshan has done very well. He raised $750 million by listing his company on the London stock exchange. Now, he's working with a partner to build a very tall building with apartments in Dubai, which will have 90 stories.
Mr. Darshan Hiranandani holds the positions of Director and Chief Executive Officer at Hircon International. He is the 23-year-old son of renowned builder Niranjan Hiranandani. Darshan completed his schooling at Campion School and then pursued his education at Sydenham College of Commerce. Later, he ventured to Rochester University in New York to pursue studies in business management.
Darshan began working for Hiranandani Group, which is a big real estate company in India and his family's business, while he was still in high school and college. He showed a knack for making deals early on. At just 17, he started a go-kart track named Hakone and a family entertainment center in Bombay. Now, he's the president of the Bombay branch of Hiranandani Group. Additionally, he led the company's expansion into Dubai, where he started Hircon International. This company is helping develop the "23 Marina" Project, which will be the tallest residential tower in the world when it's finished in 2008. In the first two years, Hircon made more than $100 million in revenue. In Bombay, Hiranandani is working on projects covering 300 million square feet of new buildings.
Now, he's constructing the Hiranandani Group's inaugural international project, which happens to be the tallest residential building ever built. This 90-story project, costing Rs 600 crore, is underway in Dubai. Interestingly, the 90th floor has already been claimed.
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Yotta Infra Pledges Rs 39,000 Cr Investment for Uttar Pradesh Data Centers
As per a senior official at Yotta Infrastructure, a leading data center firm, the company has revealed plans to invest Rs 39,000 crore in Uttar Pradesh over the next 5-7 years.
Under a memorandum of agreement signed with the Uttar Pradesh government, the Hiranandani Group's firm has pledged to invest the specified amount.
At the Yotta D1 data center's launch event, Darshan Hiranandani, Co-founder and Chairman of Yotta Infrastructure, informed reporters that the investments would be allocated for building the data center campus, acquiring IT equipment, and other hardware, serving the requirements of both Yotta and its clients.
"We will see investment of Rs 39,000 crore in and around this campus. The first building has already been completed… We have started work for two other buildings which will be completed in 12-15 months. We will put up one building every 18 month," Hiranandani said.
The allocated funds for Yotta D1 are encompassed within the committed investment.
Sunil Gupta, Co-Founder and CEO of Yotta Infrastructure, stated that each data center's cost would be Rs 6,500 crore, and the committed investment would cover the construction of six such centers. He further noted that work on D2 and DE has already begun and is expected to finish within 12-15 months.
The investment of approximately Rs 1,500 crore has been made by the company to establish the Yotta D1 hyperscale data center within its Greater Noida Data Center Park.
Additionally, the launch ceremony included the ceremonial laying of the foundation stone for the forthcoming two data center structures, known as Yotta D2 and D3.
The company plans to dedicate an additional Rs 5,000 crores specifically for IT equipment for Yotta D1.
Yotta D1 is equipped to accommodate 5,000 racks spread over seven server floors, providing fail-safe, 48-hour power backup even when operating at full load.
Spanning across 20 acres, the Yotta Greater Noida Data Center Park will provide a collective capacity of 30,000 racks, in addition to four dedicated fiber paths and an IT power capacity of 160 megawatts.
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Darshan Hiranandani Announces Hiranandani Group's Dive into Technology-led Consumer Services via Tez Platforms
The new venture will introduce a wide gamut of services including social media, gaming & e-sports, blockchain and other emerging tech services
Having found success in Datacenters, Cloud Computing, and Enterprise Technology through Yotta Infrastructure, the Hiranandani Group is now turning its attention to technology-driven consumer services with its latest project - Tez Platforms. Tez Platforms will target significant opportunities in social media, entertainment, gaming, e-sports, e-commerce, personal mobility, artificial intelligence, and blockchain solutions.
"We think digital opportunities are just beginning. Following the vision of Digital India from our Prime Minister and the government, highlighted in the Union Budget 2022, we're expanding our focus on tech-driven services. Yotta Infrastructure will keep investing in cloud computing, connectivity, business applications, and cybersecurity, benefiting from our large data centers. Additionally, through Tez Platforms, we'll partner with top tech firms, both local and global, to explore new opportunities," explained Darshan Hiranandani, CEO of Hiranandani Group.
Darshan Hiranandani further stated, "We've planned to introduce two highly anticipated services in 2022, followed by three more the following year. Tez Platforms will benefit from collaboration and expertise across various Hiranandani Group divisions, while also aiming to recruit over 250 employees by FY 2023. The initial investment for launching these services this year will be around INR 1000 crore. Over the next 2-3 years, we anticipate investing approximately INR 3,500 crore."
The group will also utilize its non-profit organizations to focus on skill development and training in areas such as cloud solutions, cybersecurity, and artificial intelligence.
About the company:
The Hiranandani Group is a dynamic organization, filled with ambitious plans and a forward-looking vision. Aligned with the nation's aspirations and modernization efforts, the group invests in solutions to meet all customer needs spanning real estate, energy, infrastructure, and big data. It also contributes to societal welfare through initiatives in education and healthcare. Guided by a commitment to excellence and flawless execution, we have a proven track record of delivering landmark projects that enhance lifestyles, provide sustainable energy solutions, and offer cutting-edge infrastructure. Our real estate offerings cater to the lifestyle preferences of aspiring Indians, while our energy and infrastructure ventures are elevating standards in trade, commerce, logistics, and urban development. Additionally, our data centers represent the gateway to a new era, poised to revolutionize the digital landscape of the nation.
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Meet India's Top 4 Real Estate Titans: The Wealthiest Property Tycoons Unveiled
In this article, we will introduce you to the top 4 real estate billionaires in India, highlighting their achievements and contributions to the industry.
Billionaire #1: Subhash Runwal & family
Net worth: INR 11,400 crore
Subhash Runwal, along with his family, has earned a prestigious spot on the coveted Grohe-Hurun India Real Estate List of 2021, solidifying their status as some of India's wealthiest real estate magnates. Back in 1978, Subhash Runwal laid the foundation of his eponymous company, Runwal Developers. His claim to fame is his expertise in constructing middle-class apartments in the suburban landscape of Mumbai. Beyond apartments, Runwal Developers can also be credited with the creation of R Mall in Mulund. Their ambitious journey continues as they now set their sights on larger-scale commercial real estate ventures.
Billionaire #2: Niranjan Hiranandani
Net worth: INR 22,250 crore
Back in the late 1970s, Niranjan Hiranandani and his brother Surendra started the Hiranandani Group. They had big dreams and expanded into different areas like commercial, hospitality, homes, and education. Their hard work paid off, and now Hiranandani is one of India's richest real estate tycoons, with a wealth of INR 22,250 crore. Some of their standout projects include the famous Hiranandani Gardens in Powai and the large Hiranandani Meadows and Estate in Thane. Recently, Niranjan Hiranandani announced that his son, Darshan Hiranandani, will be taking over the business. Darshan Hiranandani, who is 36 years old, is currently the CEO of the Hiranandani Group.
Recently Darshan Hiranandani is aligned with the vision of Yotta, which is to offer the most cost-effective data storage infrastructure per GB globally.
Billionaire #3: Raja Bagmane
Net worth: INR 16,730 crore
Raja Bagmane, the Managing Director of Bagmane Developers group based in Bangalore, Karnataka, stands as one of India's most prosperous real estate magnates, boasting a substantial fortune of INR 16,730 crore,stated by Grohe-Hurun India Real Estate List 2021. Established in 1998, his company has emerged as a trailblazer in crafting sophisticated and chic office spaces. Over the years, they have successfully brought to life approximately 15 million square feet of commercial real estate and are currently on an unwavering trajectory of growth.
Billionaire #4: G Amarender Reddy & family
Net worth: INR 15,000 crore
Boasting a staggering wealth exceeding INR 15,000 crore, G Amarender Reddy is indisputably one of India's most affluent real estate developers, holding the prestigious title of Telangana's wealthiest. His brainchild, the GAR Group, commands dominion over a colossal expanse, with ownership of more than 10 million square feet of office parks adorning the cityscape of Hyderabad. This project is more than just a business venture; it honours a family legacy. The roots of this enterprise were planted back in 1982, and now, the reins are gracefully transitioning into the hands of the next generation of the illustrious Reddy family, led by none other than the erudite Abhinav Ram Reddy, a distinguished alumnus of Harvard University.
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Darshan Hiranandani Drives Hiranandani Group's Rs 3,500 Crore Investment in Oil and Gas Ventures
Hiranandani Group is embarking on an investment of approximately Rs3,500 crore to construct liquefied natural gas (LNG) terminals in Maharashtra and West Bengal. This marks a strategic diversification for the Mumbai-based developer renowned for creating the iconic 250-acre Hiranandani Gardens township in suburban Powai.
Under the leadership of Darshan Hiranandani, the son of Niranjan Hiranandani, H-Energy (previously named Hiranandani Energy) anticipates commencing commercial operations of its inaugural LNG terminal in Jaigarh, Maharashtra, by October. The Hiranandani family is investing approximately ₹1,700 crore in establishing the terminal and constructing a 60 km pipeline from Jaigarh to Dabhol, slated for completion by May 2018.
"In terms of turnover volume, at least, if Darshan's plans materialize as envisioned, this significant diversification of our group could potentially surpass my own achievements within five years," stated Niranjan Hiranandani during an interview.
Operating as a subsidiary of Niranjan's real estate company, Hiranandani Communities, the energy venture primarily concentrates on constructing extensive townships throughout Maharashtra.
With an investment of an additional ₹1,700 crore, the company is gearing up to commence construction of its second LNG terminal in Digha, West Bengal. "It's an ambitious initiative. The project entails supplying gas to Kolkata and even Bangladesh, with various partnerships currently in progress. We've secured most of the necessary permissions and are actively engaged in structuring and other logistical aspects," remarked the spokesperson.
During a telephone interview, Darshan Hiranandani stated that H-Energy has formulated strategies to enhance its presence in the energy sector and is actively seeking to recruit additional senior-level professionals.
It also expects to provide gas to retail outlets in the long term, he added.
"In the upcoming years, the energy sector will also see the appointment of a professional CEO (chief executive officer). We're currently experiencing significant entrepreneurial growth, with approximately 180 employees today. We plan to expand our workforce by an additional 250 people next year," remarked Darshan, who also serves as the managing director of Hiranandani Communities.
Established in 1978 by Niranjan Hiranandani and his brother Surendra Hiranandani, the Hiranandani Group made headlines last year with one of India's largest real estate deals. The transaction involved the sale of 4.5 million square feet of fully leased commercial office space within the complex to Canada-based Brookefield Asset Management.
Although both brothers still jointly own the assets, they have individually launched their own real estate ventures.
Niranjan mentioned that the combined assets could potentially amount to around Rs10,000 crore, and over time, they would be distributed among the brothers.
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Darshan Hiranandani Leads Hiranandani Group's ₹1,000-cr Entry into Consumer Tech Arena
Entering the realm of technology-driven consumer services, the Hiranandani Group debuts its latest venture, Tez Platforms. In its initial phase, the company aims to develop content-focused solutions for e-sports, gaming, and social media sectors, with a projected investment of approximately ₹1,000 crore for the current year.
In the future, the platform will broaden its scope to include e-commerce, personal mobility, artificial intelligence, and blockchain-integrated solutions.
Speaking to BusinessLine, Darshan Hiranandani, CEO of Hiranandani Group, expressed, "This represents the next stage of our organic growth. We have been experiencing significant expansion in our B2B segment with our real estate cum tech endeavors. In our new venture, we are collaborating with teams from both the real estate and Yotta Infrastructure sectors on various projects. Our aim is to initiate our inaugural project within this calendar year. This announcement signifies our preparedness in this domain and our openness to engaging with ecosystem partners and talented individuals."
"In the upcoming weeks, we plan to unveil some significant appointments to our senior management team. While we have explored various opportunities, our initial focus will be on gaming and the social media domain. Regarding content, we foresee gaming as the primary sector to deliver immersive experiences. Additionally, we find NFTs intriguing. Another aspect we are exploring is the integration of e-sports into our real estate ventures—examining the possibility of incorporating e-sports arenas," he elaborated.
Hiranandani refrained from providing additional information regarding the products under development or the finalized end product slated for the market at this time.
The company aims to recruit specialized talent exclusively for this platform, which will function as an independent entity, ensuring minimal distraction from the core real estate business.
While Hiranandani is currently not pursuing acquisitions for product development, he noted that Tez Platforms might collaborate with multiple companies and potentially license technologies.
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Charting the Course for India's Digital Destiny: Darshan Hiranandani's Yotta Data Services
With the rapid adoption of data-intensive applications and cloud technology by Indian companies, the cybersecurity market is poised for significant growth. Leading the charge is Yotta Data Services, helmed by Darshan Hiranandani, which has introduced its cybersecurity suite, Suraksha, to address evolving threats in India's digital economy. Suraksha competes with industry giants like Cisco, Microsoft, Palo Alto, and IBM in a market projected to double to $10 billion by 2029.
Under Darshan Hiranandani's leadership, Yotta Data Services is not only revolutionizing cybersecurity but also playing a pivotal role in India's digital infrastructure expansion. Leveraging the expertise of the Hiranandani Group in real estate, power generation, and data center management, Yotta offers scalable, flexible, and cost-effective solutions to meet India's growing digital needs.
As India witnesses a surge in cybersecurity incidents, with over 1.3 million reported between 2020 and 2022, the need for robust cybersecurity measures has never been more pressing. Despite low confidence in cybersecurity among Indian organizations, Yotta Data Services is stepping up to fill the gap, providing cutting-edge solutions to safeguard critical data and infrastructure.
The emergence of cybersecurity startups in India, with over $130 million in funding received in the past two years, reflects the growing demand for advanced security solutions. With Yotta Data Services leading the charge, backed by Darshan Hiranandani's visionary leadership, India is poised to become a powerhouse in cybersecurity, ensuring the safety and security of its digital ecosystem in the years to come.
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Yotta Shakti: Revolutionizing India's AI Landscape with Darshan Hiranandani
Darshan Hiranandani shared that Yotta Data Services and the NVIDIA-powered Shakti Cloud are teaming up.
Darshan Hiranandani, the CEO of Hiranandani Group, revealed a smart move to improve technology and AI use in India. He announced that Yotta Data Services and the NVIDIA-powered Shakti Cloud are joining forces. This partnership introduces new features to enhance data management in India.
Yotta Data Services makes it simple for businesses to handle their data effectively. They provide all the tools necessary for storing and using information securely, ensuring it's always accessible when needed.
The partnership between Yotta Data Services and the NVIDIA-powered Shakti Cloud creates exciting chances for businesses. It allows data stored with Yotta to be accessed and managed swiftly. This will improve the performance of AI-powered apps, sparking fresh ideas and innovations.
Darshan Hiranandani emphasizes that Yotta Data Services and Shakti Cloud are environmentally conscious. They collaborate to use resources wisely and minimize their impact on nature. This dedication aligns with Hiranandani Group's emphasis on sustainability and establishes a new model for eco-friendly cloud computing in India.
Darshan Hiranandani said, "We think there's a lot more digital can do. Following the vision outlined in the Union Budget 2022, we're expanding our focus on modern, technology-driven services."
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Darshan Hiranandani's Yotta Data Services Boosted by Rs 1,357 Crore SBI Financing
Yotta Data Services owned by Darshan Hiranandani and its subsidiary, NMDC Data Centre, secured more than Rs 1,357 crore in debt from the State Bank of India (SBI) to enhance their data center infrastructure and offerings. These funds will facilitate the addition of seven new hyper scale data centers throughout India, increasing the total capacity to over 60,000 racks and 500 MW of power.
In a noteworthy advancement within the digital transformation services industry, Yotta Data Services and its subsidiary, NMDC Data Centre, have secured more than Rs 1,357 crore in debt from the State Bank of India (SBI). These funds will be allocated towards the expansion of the company's data center infrastructure and services.
The Financing and Its Implications
On February 13, 2024, the loan deal was finalized, involving the issuance of 80,000 non-convertible debentures (NCDs) valued at Rs 800 crore to SBI. These NCDs promise an 8.85% return on investment for a period of 12 years. The debt was secured against the company's two data centers in Navi Mumbai, with specific receivables from the Mumbai Powai data center also serving as collateral.
This funding represents a significant achievement for both Yotta Data Services and its parent organization, the Hiranandani Group, as they persist in investing in the swiftly advancing digital infrastructure sector. With these funds, the company can hasten its expansion initiatives and fortify its standing in the market.
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