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The new TCS playbook to build factories that power AI

Mint Ahmedabad

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October 15, 2025

section of infrastructure and services—both the data centre and the AI models that sit on top. That’s where the value will lie.”

The new TCS playbook to build factories that power AI

Such integration could also help TCS reposition itself in the eyes of investors. Global data centre operators like Equinix and Digital Realty command enterprise-value multiples of 20 to 22 times Ebitda (earnings before interest, taxes, depreciation, and amortization), higher than Indian IT firms’ price-earnings ratios. If TCS can credibly present itself as both a technology and infrastructure play, it could attract a new class of investors seeking exposure to digital infrastructure.

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