Hi Sukrut,
It is the platform as service solution from SAP hosted by SAP Public Cloud, One small example I could give you that there are lots of UI services running already on cloud, so as a company you can build your portal solution easily on top, So site creation become so easy secure and highly scalable,
and its more useful if you planned for mobile solutions, its good to go with SAP Netweaver cloud ( Now renamed as HANA cloud portal) since the libraries like HTML5, CMIS all are supported, create your app and connect to web in few minutes. also provided SAP mobile platform (SAP UI5) integration.
if you want the scenarios,listen this online teched session.
http://www.sapvirtualevents.com/teched/sessiondetails.aspx?sId=3361
Follow Webinar serries and other blogs in this forum .
Please check.
Thanks
Jansi