The companies that own and operate the physical data-centre campus and lease capacity to cloud and enterprise customers.
Bharti AirtelOwner · LowListed
CtrlS DatacentersOperator · HighUnlisted
STT GDC IndiaOperator · HighUnlisted
Bharti Airtel (BHARTIARTL)
Parent of Nxtra Data, one of India's largest data-centre operators
Price
₹1,974
snapshot 30 Oct 2026
Strengths
Nxtra operates one of India's largest multi-city DC networks, and Airtel's telecom-scale balance sheet and cash flow can fund its continued capacity buildout without straining the group
Risks
Not a pure-play - Nxtra Data is a small, financially undisclosed part of a large telecom group
Group-wide figures shown here are not Nxtra-specific
Note: FY25's profit jump reflects a large one-off/deferred-tax-related gain, not run-rate; Diversified telecom group; Nxtra Data (its DC arm) is not separately listed, so figures are consolidated group-wide
Market cap, ratios, CAGR and revenue: company table snapshot as of 30 Oct 2026 (the same figures on every page). Price: snapshot as of 30 Oct 2026. Not investment advice.
Where it fits
Owns and operates the physical campus, leasing capacity to cloud and enterprise customers - the commercial layer that turns the other five into a service.
Why it matters
This is the layer closest to end-customer revenue; everything upstream (power, cooling, compute, building) is a cost the operator must recover through lease/capacity pricing.
Where the value pool sits
Operators capture recurring lease revenue on committed capacity, often with long-term hyperscaler or enterprise contracts underpinning utilisation.
Key drivers
Hyperscaler and enterprise colocation demand
Available power capacity in key metros
REIT/infrastructure-fund interest in stabilised DC assets
Potential bottlenecks
Land and power-connection availability near demand centres
Capital intensity of building ahead of signed demand
Few India-listed pure-play operators - most exposure is indirect, through diversified parents