New Delhi, Oct. 31 -- With India's data-centre capacity set for a sharp expansion, investors are looking beyond quarterly earnings to identify the companies positioned to benefit from the infrastructure spending. Their order books offer a window into that opportunity, providing a measure of future revenue visibility as the artificial intelligence (AI) build-out gathers pace.

One of the defining themes of the Q2 FY27 earnings season is the capital expenditure cycle linked to India's data-centre and AI infrastructure build-out. The country's live data-centre capacity has crossed roughly 1.8 GW, following a record addition of 258 MW in the first half of FY27, and is projected to reach about 10.5 GW by 2031.

For investors, the scale of this...