Hi Nischay,
Welcome to the SMW world, and I hope you will find it satisfactory and rewarding to work with Semantic MediaWiki. I thing everyone using SMW is looking forward to see some performance enhancements especially for table intensive select queries. For example in our case we store around 1.1M triples and we feel the pinch everyday when performance degrades (we already have memcache, squid, APC in place to deal with the more broader aspects of performance latency) while people start making multiple queries by either using #ask or Semantic Drilldown.
So good luck, and feel free the contact the community.
Cheers