Shares of this mapping company jumped around 5 percent after receiving an order to deploy its digital twin mapping technology for the redevelopment of Dharavi. In six months, the shares have delivered more than 30 percent returns to its shareholders.
With a market capitalisation of Rs. 1,650 crores, the shares of Genesys International Corporation Ltd started Monday’s trading session on a higher note at Rs. 421 compared to its previous close of Rs. 420.35. The share hit a high of Rs. 453.40, gaining around 5 percent and closed its day at Rs. 438.10 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing mentioned that they had secured an order from Porter House worth Rs. 22 crores, to deploy its state-of-the-art digital twin mapping technology for the redevelopment of Dharavi. The project is anticipated to be completed within a timeframe of 9 months for the transformation of Dharavi’s landscape and urban planning.
This initiative aligns seamlessly with Mumbai City’s long-standing goal of revitalizing key areas and the company’s Oyster 3D Maps platform, will play a pivotal role in this project.
In addition, the company also launched the new India Map stack, targeting advanced platforms in consumer, logistics, automotive, and infrastructure areas.
Having a glance at the latest financial statements reported by the company, the operating revenues, as well as net profits, have shown positive movements.
The revenues increased by 52 percent from Rs 119 crores during FY21-22 to Rs 181 crores during FY22-23, and, the latter, keeping the timeframe the same, showcased a transition from a loss of Rs 39 crores to a profit of Rs 14 crores.
The company exports its services to the UAE, USA, Cyprus, Saudi Arabia, Ghana, etc. During FY23 the exports of the company contributed 47 percent to the total turnover.
The focus of the company continues to be in the Urban and Telecom sectors through its usage of emerging surveying and mapping technologies followed by the development of unique web-based application programs. Over the next upcoming years, the Company intends to have some significant partnerships in the geospatial and digital content space.
Headquartered in Mumbai, Genesys International Corporation Ltd was incorporated in 1983. The company is engaged in the business of providing geographical information services (GIS) comprising of data conversion, remote sensing, photogrammetry, terrestrial and 3 dimensional (3D) geo-content including location, etc. The company’s services are used by various Government, Enterprises and other consumer.
Written By Vaibhav Patil
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