Netweb Technologies To Start Exporting Servers, Create 200 Jobs

Domestic IT hardware maker Netweb Technologies plans to start exporting high-end computing servers this fiscal to Europe, Middle East and the US, a senior company official said on Friday.

Netweb Technologies Chairman and Managing Director Sanjay Lodha said that the demand for artificial intelligence technology is fuelling demand for high-end computing servers, and the company is getting demand from overseas market as well.

"We will begin export from our plants in India this financial year. The exports will be to Europe, Middle East and some will go to US as well. Our server design is biggest differentiating factor in the market. We design our products in-house," Lodha said.

Netweb is the only manufacturing partner of Nvidia in India and it is getting shipments from graphics processing unit chip makers without delay.

The company opened its new high-end computing server manufacturing unit here with an investment of Rs 25 crore.

The plant was inaugurated by S Krishnan, Secretary, Ministry of Electronics and IT.

The company has plans to set up one more manufacturing unit in Faridabad with an investment of around Rs 10 crore in this fiscal.

"The total production capacity that we have now will support us to grow till revenue of Rs 2,000 crore. Last fiscal our revenue was in the range of Rs 700 crore," Lodha said.

The company's order book grew close to six-fold to Rs 411 crore as of March 31, 2024, from Rs 71.2 crore in March 2023.

Lodha said that with growth in production, the company's workforce has grown from around 250 in July to 400.

"We expect our workforce to grow to around 600 people in the next 1.5 years," Lodha said.

Netweb Technologies posted a nearly three-fold jump in its net profit at Rs 29.6 crore in the March 2024.

Revenue from operations of Netweb Technologies more than doubled to Rs 265.88 crore during the reported quarter from Rs 123.39 crore in the year-ago period.