Netweb Technologies to E2E Networks: Five data center stocks to watch out for in 2025

India’s data center capacity is set to nearly quadruple, rising from 1.3 GW in 2024 to 5 GW by 2030. This expansion is likely to attract a massive capital investment of $20 to $22 billion. The market, valued at around $10 billion and growing at a 25% CAGR, is supported by a utilisation rate of 85% and a low development cost benchmark of $5.5 million per MW, making India one of the most attractive destinations for data center investments.

Reasons for the surge of data centers in India:

• Speedy digital adoption: With more than 850 million internet users and rising smartphone penetration, India's digital environment is growing at a rapid pace. The proliferation of e-commerce, fintech, education technology, AI, and OTT platforms is driving demand for scalable data infrastructure at a massive scale.
• Favourable government policy & data localisation: Government support has played a big role in making India a hotspot for data center. Initiatives like Digital India, policies that recognise data center as critical infrastructure, laws requiring local data storage, and incentives on land, power, and faster approvals have all have strengthened India’s position as a data center destination.
• Underpenetrated market: India’s AI market is growing fast and is expected to reach $20–22 billion by 2027, with a strong 30% annual growth rate. At the same time, India creates about 20% of the world’s data, but has only around 3% of global data center capacity. This shows a huge opportunity to build more data center and support the country’s growing digital needs.
• Foreign investment: Global giants are making significant investments in Indian data center, with companies like Google, Amazon Web Services (AWS), Microsoft, and Blackstone pouring billions into new infrastructure to meet the soaring demand for cloud and AI services. Furthermore, OpenAI is planning a 1 GW AI data center in India under its global “Stargate” project.

E2E Networks

E2E Networks is an AI-centric company offering cloud computing data center services to its clients. Interestingly, infrastructure major Larsen & Toubro (L&T) has acquired a 21% stake in the company for ₹1,406 crore via preferential share allotment and buying promoter stake.

So far this month, the company’s stock has gained nearly 30% after securing a new order worth ₹177 crore from the Ministry of Electronics and Information Technology (MeitY) under the IndiaAI Mission. As per the company’s management, this new order win further strengthens its role in India’s national AI infrastructure ecosystem.

Anant Raj

Anant Raj, one of the prominent Real Estate developers in NCR, has started cloud services in its two facilities at Manesar and Pachkula. This, in addition to its core data center service vertical, has helped the company secure a significant contract with a major private client. Both the facilities in Manesar and Panchkula have started integrating cloud services through a strategic partnership with Orange Business. The company has plans to establish itself as a major player in this domain. In Q1FY26, Anant Raj reported ₹592 crore in revenue and ₹126 crore in net profit.

It is emerging as a prominent player in India's growing data centre market and has expansion plans across its Manesar, Panchkula, and Rai facilities, including both brownfield and greenfield developments. In Q1 FY26, Anant Raj reported ₹592 crore in revenue, a 26% YoY increase, and PAT at ₹126 crore, up 38% YoY, which indicates strong operational performances and growth.

Cummins India

Cummins India is a major provider of power solutions to mission-critical industries, such as data center. In Q1 FY26, data centres contributed 15–20% of Powergen segment sales, indicating their growing importance in the company portfolio. Cummins has also launched Battery Energy Storage Solutions (BESS), which integrates renewable energy sources as solar to power data center backup.

In Q1FY26, Cummins India reported ₹2,859 crore in sales, up 26% YoY, with PAT at ₹770 crore, higher by 13%. Its Powergen division contributed ₹1,056 crore with a 31% YoY growth, driven by the rising demand for data center.

Netweb Technologies

Netweb Technologies is one of the key companies that is powering India’s AI and digital infrastructure boom. The company has deployed over 50 private cloud and HCI installations and is a supplier to major data center operators, such as Yotta Data and Akamai. The company recently launched Skylus.ai, an orchestration platform for AI workloads, as well as partnered with NVIDIA to manufacture advanced servers. The company is also part of India’s PLI scheme for IT hardware, highlighting its importance in India’s digital infrastructure growth. Netweb Technologies Q1FY26 revenue rose 102% YoY to ₹301.2 crore, with PAT doubling to ₹30.5 crore.

L&T Cloudfiniti and AdaniConneX

L&T Cloudfiniti, the data center arm of Larsen & Toubro, is quickly gaining ground in India’s digital infrastructure space. It currently runs about 30 MW of capacity across Mumbai and Chennai, and has already locked in a 10-year, 6 MW colocation deal at its Chennai facility. The company is now scaling up fast, with plans to reach 90 MW by 2026 across new sites in Mahape, Panvel, and Bengaluru, and a longer-term ambition to hit 150 MW by 2027. This growth is backed by a significant ₹3,600 crore investment, reflecting L&T’s serious push into the data center market.

AdaniConneX, a joint venture between Adani Enterprises and EdgeConneX, is developing one of the largest green data center platforms in India with a target capacity of 1 GW by 2030. It has over 210 MW of capacity with three operational data centers (Chennai, Hyderabad, Noida) and more data centers that are under construction at Navi Mumbai, Pune, and Vizag. In March 2025, AdaniConneX partnered with Extreme IX to add a PoP at its Chennai data center, to enhance interconnection and low-latency services.

Before you go

India’s data center industry is undergoing a major transformation, driven by the rapid rise in digital adoption, AI-driven workloads, and cloud migration, alongside strong government support for data localisation. Big players are stepping up, with AdaniConneX building massive gigawatt-scale campuses, L&T Cloudfiniti making bold investments, and companies like Netweb Technologies, Cummins India, and Anant Raj helping power the ecosystem with cutting-edge technology, energy solutions, and real estate infrastructure. With sustainability and efficiency becoming top priorities, India is well on its way to becoming a global data center hub in the years ahead.