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Related party transaction: | 12 Months Ended
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Mar. 31, 2025
Disclosure of related parties [Abstract] |
Related party transaction |
| 32. | Related party transaction:
The related parties where control / significant influence exists are subsidiaries and associates. Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director whether executive or otherwise. Key management personnel include the board of directors and other senior management executives. The other related parties are those with whom the Group has had transaction during the years ended March 31, 2025, 2024 and 2023 are as follows:
|  |  |  |  | % of Ownership interest |  |  |  |
Particulars |  | Country of incorporation |  |  | March 31, 2025 |  |  | March 31, 2024 |
Holding Company |  |  |  |  |  |  |  |  |  |  |  |
Infinity Satcom Universal Private Limited |  |  | India |  |  |  |  |  |  |  |  |
Raju Vegesna Infotech & Industries Private Limited (Subsidiary of Infinity Satcom Universal Private Limited) |  |  | India |  |  |  |  |  |  |  |  |
Ramanand Core Investment Company Private Limited (Subsidiary of Raju Vegesna Infotech & Industries Private Limited) |  |  | India |  |  |  |  |  |  |  |  |
Subsidiaries |  |  |  |  |  |  |  |  |  |  |  |
Sify Technologies (Singapore) Pte. Limited |  |  | Singapore |  |  |  | 100 |  |  |  | 100 |
Sify Technologies North America Corporation |  |  | USA |  |  |  | 100 |  |  |  | 100 |
Sify Data and Managed Services Limited |  |  | India |  |  |  | 100 |  |  |  | 100 |
Sify Infinit Spaces Limited |  |  | India |  |  |  | 100 |  |  |  | 100 |
Sify Digital Services Limited |  |  | India |  |  |  | 100 |  |  |  | 100 |
Patel Auto Engineering Company (India) Private Limited* |  |  | India |  |  |  | - |  |  |  | - |
SKVR Software Solution Private Limited |  |  | India |  |  |  | 100 |  |  |  | 100 |
Key Management Personnel |  |  |  |  |  |  |  |  |  |  |  |
Mr. Raju Vegesna - Chairman and Managing Director |  |  |  |  |  |  |  |  |  |  |  |
Mr. M P Vijay Kumar – Executive Director and Chief Financial Officer |  |  |  |  |  |  |  |  |  |  |  |
Mr. C R Rao - Chief Operating Officer |  |  |  |  |  |  |  |  |  |  |  |
Mr. Kamal Nath – Chief Executive Officer (till October 31, 2024 ) |  |  |  |  |  |  |  |  |  |  |  |
Trust controlled by KMP: |  |  | India |  |  |  |  |  |  |  |  |
Raju Vegesna Foundation |  |  |  |  |  |  |  |  |  |  |  |
| * | During the year 2022-23, Sify Technologies Limited (Company) has acquired Patel Auto Engineering Company (India) Private Limited (“PAECIPL”) with its registered office in Rabale, Navi Mumbai through Share Purchase agreement dated March 22, 2023 for a consideration of ₹ 525.00 million paid to Shareholders of PAECIPL. The Company has also given an Intercorporate Deposit of ₹ 85.00 million to PAECIPL. PAECIPL have only the Land allocated by MIDC on their books as on the date of Acquisition. The standalone financial statement of the Company shall account for leasehold rights of the land under Right to use asset for the fair value of leasehold rights with a description that the value of consideration is towards investment in Patel Auto Engineering Company (India) Private Limited (“PAECIPL”) and to represent this would comply with the requirement in the relevant standards as well as Conceptual Framework for Financial Reporting. Scheme of Amalgamation of PAECIPL with Sify Infinity Spaces Limited (“SISL”) is filed with Hon'ble NCLT on Feb 09, 2024. Scheme of amalgamation is approved by the Hon'ble NCLT on January 09, 2025 effective April 01, 2023. SISL has issued 17.08546 equity shares for every 1 equity share held by the shareholders of PAECIPL.
The following is a summary of the related party transactions for the year ended March 31, 2025:
Transactions |  | Holding Company |  |  | Others |  |  | Key Management Personnel |
Consultancy services received |  |  | - |  |  |  | - |  |  |  | 90 |
Sitting fees paid |  |  | - |  |  |  | - |  |  |  | 7,420 |
Salaries and other short term benefits* |  |  | - |  |  |  | - |  |  |  | 50,034 |
Contributions to defined contribution plans* |  |  | - |  |  |  | - |  |  |  | 2,582 |
Share based payment transactions* |  |  | - |  |  |  | - |  |  |  | - |
Lease rentals paid** |  |  | 2,247 |  |  |  | 8,970 |  |  |  | - |
CSR Contribution made |  |  | - |  |  |  | 19,962 |  |  |  | - |
Amount of outstanding balances |  |  |  |  |  |  |  |  |  |  |  |
6% Non-Cumulative Compulsorily convertible preference shares# |  |  | - |  |  |  | - |  |  |  | - |
Advance lease rentals and refundable deposits made** |  |  | - |  |  |  | 5,600 |  |  |  | - |
Lease rentals payable** |  |  | - |  |  |  | - |  |  |  | - |
All transactions between Sify Technologies Limited and its subsidiaries up to March 31, 2025 of this Annual Report have been in the ordinary course of business The following is a summary of the related party transactions for the year ended March 31, 2024:
Transactions |  | Holding Company |  |  | Others |  |  | Key Management Personnel |
Consultancy services received |  |  | - |  |  |  | - |  |  |  | 300 |
Sitting fees paid |  |  | - |  |  |  | - |  |  |  | 2,740 |
Salaries and other short term benefits* |  |  | - |  |  |  | - |  |  |  | 62,053 |
Contributions to defined contribution plans* |  |  | - |  |  |  | - |  |  |  | 2,541 |
Share based payment transactions* |  |  | - |  |  |  | - |  |  |  | - |
Lease rentals paid** |  |  | 1,369 |  |  |  | 8,594 |  |  |  | - |
CSR Contribution made |  |  | - |  |  |  | 27,850 |  |  |  | - |
Amount of outstanding balances |  |  |  |  |  |  |  |  |  |  |  |
6% Non-Cumulative Compulsorily convertible preference shares# |  |  | - |  |  |  | 500,000 |  |  |  | - |
Advance lease rentals and refundable deposits made** |  |  | - |  |  |  | 5,600 |  |  |  | - |
Lease rentals payable** |  |  | 114 |  |  |  | 685 |  |  |  | - |
All transactions between Sify Technologies Limited and its subsidiaries up to March 31, 2024 of this Annual Report have been in the ordinary course of business The following is a summary of the related party transactions for the year ended March 31, 2023:
Transactions |  | Holding Company |  |  | Others |  |  | Key Management Personnel |
Consultancy services received |  |  | - |  |  |  | - |  |  |  | 300 |
Sitting fees paid |  |  | - |  |  |  | - |  |  |  | 2,200 |
Salaries and other short term benefits* |  |  | - |  |  |  | - |  |  |  | 55,930 |
Contributions to defined contribution plans* |  |  | - |  |  |  | - |  |  |  | 2,151 |
Share based payment transactions* |  |  | - |  |  |  | - |  |  |  | 1,901 |
Lease rentals paid** |  |  | 1,369 |  |  |  | 8,054 |  |  |  | - |
CSR Contribution made |  |  | - |  |  |  | 24,390 |  |  |  | - |
Amount of outstanding balances |  |  |  |  |  |  |  |  |  |  |  |
6% Non-Cumulative compulsorily convertible preference shares## |  |  | - |  |  |  | 500,000 |  |  |  | - |
Advance lease rentals and refundable deposits made** |  |  | - |  |  |  | 5,600 |  |  |  | - |
Lease rentals payable** |  |  | 114 |  |  |  | 685 |  |  |  | - |
All transactions between Sify Technologies Limited and its subsidiaries up to March 31, 2023 of this Annual Report have been in the ordinary course of business
| * | Represents salaries and other benefits of Key Management Personnel comprising of Mr. M P Vijay Kumar – Executive Director and Chief Financial Officer, Mr. C R Rao – Chief Operating Officer and Mr. Kamal Nath - Chief Executive Officer.
| ** | During the year 2011-2012, the Group had entered into a lease agreement with M/s Raju Vegesna Infotech and Industries Private Limited, the holding Group, to lease the premises owned by it for a period of three years effective February 1, 2012 on a rent of ₹ 0.075 million (Rupees Seventy Five Thousand) per month. Subsequently, the Group entered into an amendment agreement with effect from April 1, 2013, providing for automatic renewal for a further period of two blocks of 3 years with an escalation of 15% on the last paid rent after the end of every three years. Subsequently on account of expiry of the said agreement, the Group entered into a fresh agreement for a period of three years effective February 1, 2024 on a rent of ₹ 0.160 million (Rupees One Lakh Sixty Thousand Only) per month.
During the year 2011-12, the Group had also entered into a lease agreement with M/s Raju Vegesna Developers Private Limited, a Group in which Mr. Ananda Raju Vegesna, the then Executive Director of the Group and Mr. Raju Vegesna, Chairman and Managing director of the Group, exercise significant influence, to lease the premises owned by it for a period of three years effective February 1, 2012 on a rent of ₹ 0.030 million (Rupees Thirty Thousand) per month. The agreement provides for the automatic renewal for further period of two blocks of 3 years with an escalation of 15% on the last paid rent after the end of every three years. Subsequently on account of expiry of the said agreement, the Group entered into a fresh agreement for a period of three years effective February 1, 2024 on a rent of ₹ 0.059 million (Rupees Fifty Nine Thousand) per month. During the year 2010-2011, the Group had entered into a lease agreement with Ms. Radhika Vegesna, daughter of Mr. Anand Raju Vegesna, the then Executive Director of the Group, to lease the premises owned by her for a period of three years effective June 1, 2010 on a rent of ₹ 0.3 million (Rupees Three Lakhs) per month and payment of refundable security deposit of ₹ 2.6 million. This arrangement will automatically be renewed for a further period of two blocks of three years with all the terms remaining unchanged. Subsequently on account of expiry of the said agreement, the Group entered into a fresh agreement for a period of three years effective June 1, 2019 on a rent of ₹ 0.639 million (Rupees Six Lakhs Thirty Nine Thousand) per month and payment of additional refundable security deposit of ₹ 3.0 million. This arrangement will automatically be renewed for a further period of two blocks of three years with all the terms remaining unchanged. # # During the FY 2020-21, Print house (India) Pvt Ltd had issued 9% Cumulative Non-Convertible Redeemable Preference Shares to Raju Vegesna Infotech & Industries Pvt Ltd., on private placement basis. The Preference share capital are redeemable at par value at maturity, i.e. 20 years from the date of allotment. Accordingly these are accounted for Financial instruments. During the year, The terms of the Preference Shares are changed to 6% Non-Cumulative compulsorily convertible preference shares. During the FY 24-25, the Non - Cumulative compulsorily convertible preference shares were transferred from Raju Vegesna Infotech & Industries Pvt Ltd. to Sify Technologies Limited.

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