According to the Union Budget 2024-25 announced by Finance Minister Nirmala Sitharaman, the city’s urban land records will be made digitally using Geographic Information Systems (GIS) mapping technology.
Also, the rural land areas will get a unique ID number along with the establishment of a land registry, and urban land records will be organized and accessed more easily with this technology.
The news related to rural land areas are expected to support mortgage underwriting in rural areas. Meaning, that by improving how rural land is managed and recorded, it will be easier for banks to evaluate and approve loans for properties in these areas.
Honorable Nirmala Sitharaman has mentioned that the digitization of these land records will improve the finances of urban bodies. By having accurate and easily accessible land information city authorities can manage resources better, collect taxes more efficiently, and plan development projects more effectively, leading to better finances for urban bodies.
She also mentioned that the government will talk with states about land reforms, which will include land management, planning, and building rules. With this news, the shares of a few mapping systems companies in India went up as much as 10 percent in one day.
Here are a few mapping systems stocks in India to watch out for that will benefit from the budget :
C.E. Info Systems Limited
Share price movement: With a market capitalization of Rs 13,281.97 crores, the shares of C.E Info Systems Limited surged by 8.55 percent and closed at Rs 2,455 apiece.
About the company: The firm is India’s leading provider of advanced digital maps, geospatial software, and location-based IoT technologies.
Financials: Reviewing the financials of C.E. Info Systems Limited on a year-on-year basis, the revenues rose by 34.80 percent from Rs 281 crores in FY23 to Rs 379 crores in FY24. In the same time frame, the net profits increased from Rs 108 crores to Rs 134 crores, demonstrating a 24 percent increase.
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Recent news: C.E Infosystems is in discussion with partners to expand its products and platforms beyond India to other regions in South East Asia, also to the Middle East along with North Africa.
Genesys International Corporation Limited
Share price movement: With a market capitalization of Rs 2,801.20 crores, the shares of Genesys International Corporation Limited surged around 12 percent and closed at Rs 707.40 per share.
About the company: Genesys International Corporation Limited is engaged in providing Geographical Information Services comprising photogrammetry, remote sensing, cartography, data conversion, terrestrial and 3D geo-content including location navigation mapping and other computer-based related services.
Financials: Reviewing the financials of Genesys International Limited on a year-on-year basis, the revenues rose by 10 percent from Rs 181 crores in FY23 to Rs 198 crores in FY24. In the same time frame, the net profits increased from Rs 15 crores to Rs 22 crores, demonstrating a 47 percent increase.
Recent order: Recently as of April 2024, the company received an order worth Rs 35 crores in Maharashtra for the implementation of Genesys Digital twin map stack in the city of Pune.
Written By Zahal
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