The share of Geotech startup MapMyIndia increased by 10 percent after Finance Minister Nirmala Sitharaman announced the digitization of land records in Urban areas with GPS mapping. The shares of C.E. Info Systems increased and reached Rs 2,488 during intraday trading on the BSE after this announcement. The opening price of shares was around Rs 2,411.95 per piece, which was 6.6 percent higher than the last closing. Here we are talking about Geotech startup MapMyIndia shares increased by 10% following Union Budget FY25.
Following this, the stock increased by 10 percent and reached the upper band at Rs 2,411. The company provides different services, including mapping devices, government digitization, telematics, and automotive navigation. The startup is predicted to have an EBITDA margin of 41 percent range, and its revenue is expected to grow at a CAGR of 30 percent in the next six years. This geo tech startup focuses on developing technologies, including maps, navigation, tracking, IoT, and GPS. The shares of MapmyIndia’s parent company, C.E. Info Systems, were listed with a premium of 53 percent at BSE for Rs 1,581 each share, while the issue price stood out at Rs 1,033.
The company offers options, including advanced map data, software products, platform-as-a-service, and various IoT solutions to help tech-focused companies. MapMYIndia reported that it saw a 49 percent increase in its Consumer technology & enterprise digital transformation to Rs 194 crore in FY24. The startup also has a 23 percent increase to Rs 186 crore in its Automotive & Mobility technology revenue in the same duration. The startup recently discussed with its investors the expansion of its services and platform globally. The CEO of MaymyIndia, Rohan Verman, mentioned that the company aims to expand its platform in South East Asia and the Middle East & North Africa.
The Geotech startup provides location-based solutions, products, and services built on India’s maps. The company brings deep tech into maps with 4D time and space maps with the most updated and extensive coverages. The firm uses advanced map SDKs, which are easy to embed on the website and mobile applications across various platforms. The company also develops vehicles with cutting-edge technologies and enhanced CX using India’s best maps and automotive technologies. The overall revenue from the operation has a 35 percent YoY increase at Rs 379.4 crore. MapmyIndia faces competition from other geo-tech companies, including Airio, Avantech, Mapbar, and Evatro.
Conclusion
MapmyIndia’s shares increased by 10% following the recent announcement in the Union Budget FY25 regarding the digitization of land records in urban areas using GPS mapping. The shares of C.E. Info Systems increased to Rs 2,488 during intraday trading on the BSE, up from an opening price of Rs 2,411.95. This marked a 6.6% increase from the last closing price, reaching the upper band at Rs 2,411. MapMyIndia offers mapping devices, government digitization, telematics, and automotive navigation services. The startup utilizes advanced technologies and develops location-based maps, navigation, tracking, IoT, and GPS. The company expects its revenue to grow at a CAGR of 30% by 2027.
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