Sterlite Technologies Targets ₹20,000 Cr Revenue By FY29

Broadband technology company Sterlite Technologies has said it aims to grow the company's revenue manifold to ₹20,000 crore by FY29.

Sterlite Technologies Ltd (STL) posted consolidated revenue from operations of ₹4,745 crore in the financial year 2025-26, according to a regulatory filing.

"Today, we are very proud to announce Lakshya, STL's growth ambition for FY29. Under Lakshya, we're targeting ₹20,000 crore revenue by FY29, while building STL into one of the largest global players for digital connectivity," STL Managing Director Ankit Agarwal said in an investor meet held on September 3.

According to the transcript of the meeting shared by the company, Agarwal said that the ambition of project Lakshya is to transform the scale and position of STL, build on the strength of the company's core, stronger economics, deeper customer relationships, and a larger role in the world's rapidly expanding digital infrastructure.

He said that there are now more places where optical connectivity is required, and significantly more optical content required within each of these places driven by demand from AI-led infrastructure.

“As AI infrastructure evolves, that number increases very dramatically. With Hopper, we're talking about roughly 4,000 fibers per AC. With Blackwell, that increases to around 16,000 fibers per AC.

And now, with the latest VERA Rubin, we're looking at roughly 64,000 fibers per rack. That is a 64x increase in fiber content per rack in just a few generations of VR infrastructure," Agarwal said.

STL is seeing a significant opportunity emerging in data centers in the home market in India.

Agarwal said India currently has approximately 1.5 GW of data center capacity which is expected to increase to a whopping 10 gigawatts by 2030.

"This growth has been supported by favorable environment policy, including a tax holiday to 2047, and strong power availability across multiple sites in India. India is also sending its connective infrastructure with four submarine cables under commissioning, and another 3 already under planning.

“Against this backdrop, leading hyperscalers are making multi-billion dollar investments in India across cloud, AI, and data center infrastructure. For STL, this option is particularly relevant," he said.

STL claims to have approximately 9% of the global optical fiber market outside China, supported by a technology portfolio of over 785 patents, and more than 10 advanced manufacturing facilities across key markets.

"Lakshya is our roadmap for the next phase of STL, and today, we begin this journey," he said.

STL Group Chief Financial Officer Ajay Jhanjhari said that over the next three financial years, the company plans to invest approximately ₹1,000 crore annually, expanding fiber and cable capacities by 50%, allowing it to scale with demand visibility.