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  more than the last closing.  

The stock increased by 10 percent following this 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 was recently in discussion with its investors to  expand 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  large coverages. The firm uses advanced map SDKs which are easy to embed in 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 develop location-based maps, navigation,  tracking, IoT, and GPS. The company expects its revenue to grow at a CAGR of 30% by 2027.