The shares of one of the leading mapping technology solution providers surged 5.5 percent, reaching 52-week-high prices of ₹557.25 per share after the company received an order worth ₹ 7 crores for the design and development of a three-dimensional urban digital map for Varanasi.
With a market capitalization of ₹2,163 crore, Genesys International Corporation Ltd. belongs to the small-cap category. The company shares have gained 72 percent in the last six months and 46 percent in a year.
In partnership with Varanasi Smart City Limited (VSCL), Genesys International Corporation secured a ₹7 crore order for the design and development of a three-dimensional urban digital map and database of the holy city, Varanasi. The 3D digital twin mapping encompasses a vast area spanning 160 square kilometers.
For the digital twin mapping of cities, Prime Minister Narendra Modi laid the foundation for modernising Varanasi’s infrastructure and addressing pressing urban challenges. The company mentioned this in its exchange filing.
Genesys International Corporation Ltd. 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.
The company’s services include photogrammetry, remote sensing, cartography, data conversion, state-of-the-art terrestrial and 3D geo-content including location navigation mapping, and other computer-based related services.
The company’s revenue has increased by 9.2 percent yearly, rising from ₹ 54 crore in Q3 FY23 to ₹ 59 crore in Q3 FY24. Further, within the same period, net profit increased by 100 percent from ₹ 8 crore to ₹ 16 crore.
The company caters its services to the USA, UAE, Cyprus, Saudi Arabia, Ghana, etc.The company’s clients include reputed companies such as Tata Projects, Vindhya Telelinks, Sterlite Technologies, and Reliance Corporate IT Park Ltd.
At the time of writing this report, Genesys International Corporation shares were trading at ₹ 548 per share, up 3.67 percent from the previous close price.
Written by Omkar Chitnis
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