Sanjeev Verma, CEO of Blackbox
Black Box, the IT arm of Essar Group, expects its share of India business to grow by 1-2 percentage points on its way to becoming a $2 billion revenue company by 2027-28, a senior company official said.
The company specialises in building IT infrastructure for critical technology applications, including hyperscale data centres, and plans to take its learnings to the Indian market as many of the company’s global clients are looking to invest in the country, Black Box CEO Sanjeev Verma told PTI.
He said the company plans to increase its employee strength at all levels in India to around 1,000 people from the current 600 people.
“Currently, India accounts for 6 per cent of our business. We don’t expect it to grow much further, but if we have to reach $2 billion, it will be very important for us to increase that figure to 7-8 per cent,” Verma said.
The company has reported revenue of around $750 million in fiscal year 2024.
Verma said Black Box wants to bring some value to India based on the experience it has gained with some of its global clients overseas, “which are very, very large and very complex.”
“It is interesting that many of those (global clients) are also coming to India. We are trying to use the experience we have learned from them, working with their projects abroad, both in Europe and the US,” he said.
Black Box aims to become a $2 billion revenue company by 2027-28.
Verma said India, apart from being a large local market, is also very strategic for the company from a global experience and delivery perspective.
He said the company is investing in a capacity centre in India to serve global customers.
“We have increased our headcount from 300 to 600. We expect to have over 800 by the next fiscal and around 1,000 in the next two years. Our total hiring will be higher as we are also hiring in the local markets where we operate,” Verma said.
Black Box has a network of 75 delivery centers, of which 21 are located in the United States and 14 in India. Globally, the company has a workforce of more than 4,000 people spread across 35 countries.
Talking about the company’s $2 billion revenue roadmap, Verma said the company’s broader focus for this year is to shift its go-to-market strategy.
“We want to focus on our top 250 customers, and some of them are very, very big logos for us and have huge potential. We are shifting our go-to-market approach from a geography-based approach in the US to a vertical-based approach,” Verma said.
Black Box serves five verticals: banking, finance, healthcare, technology and industrial.
“We want to get rid of long-tail customers who are not generating revenue for us. We want to focus on our top customers, starting with the top 250 who actually generated 90 percent of our revenue,” Verma said.
He said the company is taking a slightly longer-term view because these are accounts that take time to mature. “So, we remain focused on achieving $2 billion in four years by fiscal year 2028,” Verma said.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 15, 2024 | 17:34 IS
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