Sudheer Thumma Weaves A Big Success With Magellanic Cloud

As a visionary, if we can’t think big, then people working for us will not be able to think big. We acquire companies which gives us the opportunity to multiply its growth - Joseph Sudheer Thumma, Global CEO, Magellanic Cloud

Hyderabad: A Hyderabadi techie-turned-entrepreneur in the US has returned to his roots bringing back 23 years of experience to India to boost innovation from Hyderabad for the globe. A small venture that started off with talent training and sourcing has inorganically grown to five subsidiaries and one holding company now, generating Rs 560 crore in revenue, 1,000 headcount in Hyderabad (of the total 1,600), and serving more than 600 global clients.

That Hyderabadi techie is Joseph Sudheer Thumma who founded JNIT Technologies in 2010 in the US with an investment of $200,000, after selling his shares from a previous venture. The staffing company, back then, had its back-office presence in Hyderabad with 20 employees working on talent acquisition and accounting. The team has now grown to 150, here.

In 2015-16, Thumma did a reverse merger of JNIT Technologies into South India Projects Ltd, and renamed it as Magellanic Cloud Ltd. In 2019, a 25,000-sft office was set up in Hyderabad to scale up operations. In 2020, Magellanic Cloud acquired Motivity Labs for Rs 5046.94 crore. A solution provider in cloud computing, mobile development services, and others, Motivity Labs has grown from $5 million revenue and 70 employees to $30 million revenue and about 500 people, holding its largest headcount share in Hyderabad. In 2022, Magellanic Cloud acquired AI, ML, IoT-enabled e-surveillance companies, iVIS International for Rs 290 crore and Provigil Surveillance for Rs 35 crore. In 2023, the company picked stake in drone manufacturer, Scandron Pvt Ltd, for Rs 2 million.

“As a visionary, if we can’t think big, then people working for us, will not be able to think big. We acquire companies which gives us the opportunity to multiply its growth by promoting sales, technology, and hiring more people and investing money into its growth path,” Joseph Sudheer Thumma, Global CEO and Managing Director of Magellanic Cloud Ltd, told Bizz Buzz.

The Hyderabad-based IT services company, which is listed on BSE and NSE, posted revenue of Rs 560 crore in FY24. It registered 19.6 per cent quarter-on-quarter increase in profits to Rs 29.2 crore in Q3FY25, compared to Rs 24.4 crore in the previous quarter.

The five subsidiaries, iVIS, MotivityLabs, Provigil, JNIT Technologies, Scandron and one holding company Magellanic Cloud, offers digital transformation, e-surveillance, AI/IoT, and drone based solutions. The company has also launched Scanalitix, a platform for surveillance and analytics solution in the US, Canada, Oman and Dubai market.

“We are looking to close FY25 with Rs 600 crore. As much as 70 per cent of our revenue share comes from IT and ITeS, 27 per cent from e-surveillance and 1.2 per cent from drone manufacturing. We aim to achieve 50 per cent growth in revenue in FY26, and 17-20 per cent upswing in profits, supported by organic and inorganic growth,” Thumma asserted.

He further said that expansion in the headcount of the five subsidiaries and one holding company will predominantly take place in Hyderabad. “The inorganic growth in employees after acquiring new companies will be from this city as I want to create that ecosystem in one place. The goal is to reach 3,500 employees in Hyderabad and total 5,000 employees across international offices by the end of FY27,” he added.