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The new TCS playbook to build factories that power AI
Mint Hyderabad
|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.”
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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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