Sify Infinit Spaces leases over 1.5 lakh sq ft office space in Hyderabad
Representative ImageSify Infinit Spaces, a subsidiary of Information and communications technology (ICT) player Sify Technologies has leased over 1.5lakh sq ft office space in Hyderabad.
The property is located in Nanakramguda in the financial district of Hyderabad.
The office is spread over five floors and has a 60 months lease period.
“The company will be paying rent of over Rs 42, with a 3% escalation every year,” mentioned a lease deed document shared by Propstack, a data analytic firm.
This is the second transaction signed by Sify in the last one year.
It has signed over 96000 sq. ft. of office space in the financial district for 120 months starting in 2022.
Sify is looking to expand its data centre capacity driven by an exponential growth in data generated by India Inc as it embarks on digitisation and applying Artificial Intelligence to business.
The company has 11 operational data centres with over 100mw capacity and plans to add over 350mw over the next four years.
Recently Sify Infinit Spaces Ltd, a subsidiary of Sify Technologies, an integrated ICT solutions and services provider, has agreed with Kotak data centre fund to expand new data centres.
The company entered into an agreement with Kotak data centre fund on July 20, 2023, under which KDCF will invest upto Rs 600 crore (approximately USD 73 million) in the form of compulsorily convertible debentures of SIS, the company mentioned during its latest earning call. Kotak previously invested $135m into Sify in 2021.
The company said SIS would use the proceeds to expand new data centres, including land acquisition for data centres, investment in procuring alternate sources of power, and repayment of the debt, the company mentioned.
