Delhi developer to invest $2 billion on India data centre boom
Ltd. plans to spend Rs 180 billion ($2.1 billion) on data centres as it joins a growing list of Indian companies looking to ride the boom in demand for
artificial intelligence
and business process-led services in the country.
The Delhi-based developer with a market value of $2.3 billion will launch two more data centres or server farms in the northern Indian state of Haryana. This is in addition to the one already operational, as it aims for a capacity of little over 300 megawatts by 2032, Amit Sarin, managing director at
Anant Raj
said.
For context, India's data centre capacity is poised to grow by 77% to 1.8 gigawatts in the next four years, according to a 2025 report by property consultant JLL.
'India is witnessing one of the fastest growth phases globally for data centres,' said Sarin in an interview, adding that the project will be funded through the company's own funds.
Anant Raj's move follows ambitious plans by India's top business houses Adani Group and
Reliance Industries
Ltd. to expand their footprint. The trend is underscored by Barclays Plc's view that the South Asian nation will be a big beneficiary of the
data centre investment
boom in Asia, driven by digitalization and rules requiring data to be stored within the country.
Smaller firms are not far behind. Bengaluru-based RMZ Corp. is spending $1.7 billion on two data centres and Panchshil Realty is considering partnering with Blackstone Inc. to build a large data centre in Mumbai.
Data centres are expected to make up more than 40% of Anant Raj's revenues in the next four years from 5% at present, Sarin said. The company tied up with the French IT company Orange Business to provide cloud services to its clients along with data centres last year.
'India currently generates 28% of the world's data but houses only 1% of it locally, presenting a significant opportunity for expansion as data localization becomes inevitable,' Sarin said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
19 minutes ago
- Hindustan Times
Soham Parekh breaks silence: Indian engineer admits to working at multiple startups, says it wasn't to scam anyone
Soham Parekh, accused of working at multiple startups simultaneously, has admitted to doing so in a recent interview but strongly added that he didn't do it to scam the companies. The internet has been flooded with stories, opinions and allegations after Mixpanel co-founder Suhail Doshi shared a tweet about Parekh accusing him of being a scammer. Soham Parekh, accused of working at multiple startups at the same time, hails from Mumbai and later relocated to the USA. (YouTube/@TBPNLive) In an interview with TBPN, Parekh shared his side of the story. When one of the interviewers asked him if he indeed held multiple jobs at the same time, Parekh said, 'It is true'. Why did he do it? 'Do you believe you were in violation of your own employment contracts? Or do you believe there were some legal loopholes that allowed you to do this without committing any sort of legal violation?' Parekh was asked. The Indian techie answered, 'Honestly, going back to how it started and what the motivations were. You probably know, I would want to preface with saying I'm not proud of what I've done. It's not something I endorse either.' He then says that he did it due to his financial situation. 'Financial circumstances essentially. No one really likes to work 140 hours a week but I had to do it out of necessity.' He explained that his actions were guided by necessity and not by greed. Did he hire people to work for him? Social media claimed that Parekh made a business out of his multiple jobs by hiring junior developers to do most of the work. The Indian techie denied the allegations, adding that he wrote every "inch of codes." Soham Parekh said he was born in Mumbai and relocated to the US in 2020. He was originally scheduled to relocate in 2018 and start his grad school. However, he said he had to give up on the idea due to his financial situation.
&w=3840&q=100)
Business Standard
25 minutes ago
- Business Standard
China shows signs of tackling price wars taking toll on its EV industry
China's industrial policy has engineered a remarkable transformation to electric vehicles in what is the world's largest auto market AP Beijing The Chinese government is signalling enough is enough when it comes to the fierce competition in the country's electric car market. China's industrial policy has engineered a remarkable transformation to electric vehicles in what is the world's largest auto market. In so doing, it has spawned far more makers than can possibly survive. Now, long-simmering concerns about oversupply and debilitating price wars are coming to the fore, even as the headline sales numbers soar to new heights. Market-leader BYD announced this week that its sales grew 31 per cent in the first six months of the year to 2.1 million cars. Nearly half of those were pure electric vehicles and the rest were plug-in hybrids, it said in a Hong Kong Stock Exchange filing. The company phased out internal combustion engine cars in 2022. BYD came under thinly veiled criticism in late May when it launched a new round of price cuts, and several competitors followed suit. The chairman of Great Wall Motors warned the industry could come under threat if it continues on the same trajectory. When volumes get bigger, it's just much harder to manage and you become the bullseye, said Lei Xing, an independent analyst who follows the industry. The government is trying to rein in what is called involution a term initially applied to the rat race for young people in China and now to companies and industries engaged in meaningless competition that leads nowhere. BYD has come under criticism for using its dominant position in ways that some consider unfair, sparking price wars that have caused losses across the industry, said Murthy Grandhi, an India-based financial risk analyst at GlobalData. With the price war in its fourth year, Chinese automakers are looking abroad for profits. BYD's overseas sales more than doubled to 464,000 units in the first half of this year. Worried governments in the US and EU have imposed tariffs on made-in-China electric vehicles, saying that subsidies have given them an unfair advantage. Market leader BYD comes under attack The latest bout of handwringing started when BYD cut the price of more than 20 models on May 23. The same day, the chairman of Great Wall Motors, Wei Jianjun, said he was pessimistic about what he called the "healthy development of the EV market. He drew a comparison to Evergrande, the Chinese real estate giant whose collapse sent the entire industry into a downturn from which it has yet to recover. "The Evergrande in the automobile industry already exists, but it is just yet to explode, he said in a video message posted on social media. Two days later, a BYD executive rejected any comparison to Evergrande and posted data-filled charts to buttress his case. To be honest, I am confused and angry and it's ridiculous! Li Yunfei, BYD's general manager of brand and public relations, wrote on social media. All these come from the shocking remarks made by Chairman Wei of Great Wall Motors. Next, the government and an industry association weighed in. The China Association of Automobile Manufacturers called for fair competition and healthy development of the industry, noting that major price cuts by one automaker had triggered a new price war panic. On the same day, the Ministry of Industry and Information Technology vowed to tackle involution-style competition in the auto industry, saying that recent disorderly price wars posed a treat to the healthy and sustainable development of the sector. That price cut might have been the final straw that irked both competitors and regulators for the ruthlessness that BYD continues to show, Lei said. A promise to pay suppliers within 60 days signals possible shift The following month, 17 automakers including BYD made a pledge: They would pay their suppliers within 60 days. One way China's automakers have been surviving the bruising price wars is by delaying the payments for months. The agreement, if adhered to, would reduce financial pressure on suppliers and could rein in some of the fierce competition. The introduction of the 60-day payment pledge is the call of the government to oppose involution-style competition," said Cui Dongshu, the secretary-general of the China Passenger Car Association. It also reduces the risk of an Evergrande-like scenario. Many automakers had stretched out payments by paying suppliers with short-term debt promises to repay them in a certain period of time instead of cash. Real estate developers used the same system. It worked until it didn't. When Evergrande defaulted on its debts, suppliers were left holding worthless promises to pay. This practice is seen as a potential cause of a larger crisis, similar to what happened with Evergrande, Grandhi said. The vows to speed up payments and the government calls to rein in the price wars, along with a rollback of some financing offers, point to an effort to reverse downward price expectations, said Jing Yang, a director at Fitch Ratings who focuses on the auto industry. We may watch how effectively these measures are in reversing the price trend and how would that affect EV demand in the coming quarters, she said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
News18
27 minutes ago
- News18
SEBI Bans Jane Street From Indian Markets, Orders Rs 4,843 Cr Seizure Over Derivatives Probe
Last Updated: The action comes as part of SEBI's ongoing probe into suspected market manipulation by Jane Street through its derivatives trading SEBI India's capital market regulator, the Securities and Exchange Board of India (SEBI), has barred US-based proprietary trading firm Jane Street Group and its associated entities from participating in the Indian securities market. According to a report by Bloomberg and an official order published on SEBI's website, the firm is prohibited from buying, selling, or dealing in any securities—either directly or indirectly—until further notice. SEBI also directed all banks to freeze withdrawals from accounts linked to Jane Street Group entities. This includes individual and jointly held accounts, unless SEBI provides specific approval for transactions. The action comes as part of SEBI's ongoing probe into suspected market manipulation by Jane Street through its derivatives trading activities. The firm reportedly earned over $2.3 billion in profits from equity derivatives trading in India last year. SEBI's order further states that unlawful gains of Rs 4,843 crore—allegedly earned through manipulative practices—will be impounded. Jane Street entities have been directed to open an escrow account with a scheduled commercial bank in India and deposit the entire amount. Banks where these companies maintain accounts have also been instructed to not allow any debits without the regulator's permission. Additionally, Jane Street Group and its related entities must close or square off all existing positions within three months or by the contract's expiry—whichever comes first. April 2024: SEBI begins initial analysis after media reports highlight a legal dispute involving Jane Street's alleged unauthorized use of proprietary trading strategies in Indian markets. July 23, 2024: SEBI instructs the National Stock Exchange (NSE) to examine Jane Street's trading activity to identify potential market abuse. August 2024: SEBI interacts with Jane Street on August 20, and the firm submits its response on August 30, explaining its trades. November 13, 2024: NSE submits its examination report on Jane Street's trading patterns to SEBI. December 2024: SEBI observes unusual volatility in index options, especially on weekly expiry days. It notes that certain entities, including Jane Street, were running exceptionally large risk positions in cash-equivalent terms in the F&O segment. February 4, 2025: Based on preliminary findings, SEBI believes Jane Street is in violation of Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) regulations. February 6, 2025: NSE, on SEBI's instructions, issues a caution letter to Jane Street Singapore Pte Ltd and related entities, advising them to refrain from potentially manipulative trading patterns. February 6 & 21, 2025: Jane Street responds to the caution letter, providing justifications for its trading activities. May 15, 2025: Despite the warning, Jane Street continues to operate with very large cash-equivalent positions in index options, leading to further regulatory scrutiny. What Are Cash Equivalents in F&O? In the context of futures and options (F&O), cash equivalents refer to short-term, highly liquid instruments such as treasury bills or money market funds. These assets are often used as collateral for margin requirements, allowing traders to earn returns while actively engaging in derivatives trading.
