Discussing their expansion strategies, Verma stated, “We have ventured into Southeast Asia in the automotive sector… we have begun generating revenue already.” He noted that the Southeast Asian market is nearly as large as India’s, with approximately 4 million vehicles sold annually.
The company forecasts that revenue from this region will increase from ₹26 crore in the fiscal year 2025-26 (FY26) to ₹80 crore by 2027-28 (FY28). Additionally, the domestic adoption of advanced driver assistance systems (ADAS) is also anticipated to foster growth. “ADAS 2 is already here, and we are targeting 2.5 within the next three years,” Verma added.
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Verma emphasized that the company’s order book, projected to exceed ₹2,000 crore by 2027-28, encompasses a variety of contracts ranging from one to five years.
MapmyIndia recently restructured its operations into two divisions: the parent company managing automotive and corporate enterprise, and a distinct unit concentrating on government and IoT solutions. Verma mentioned that while the government and IoT sectors might experience faster growth, automotive and enterprise divisions provide higher margins. “We are aiming for an overall growth of 30% and more than 35% EBITDA,” he stated.
He also pointed out that fixed-price contracts have become a crucial aspect of their business approach. “With certain clients, fixed-price contracts are advantageous as they provide predictable revenue,” he remarked.
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In the defense sector, Verma noted that the company is mainly focusing on software. “We are undertaking several projects in that domain. For us, it’s straightforward business, not just a buzzword,” he explained. The company is leveraging its AI and mapping technologies in drones and defense-related applications.
Regarding the increasing competition in the AI mapping sector, Verma stated that the company remains concentrated. “We take the surrounding noise seriously, but having experienced it for over 20 years, we have matured in distinguishing between noise and reality,” he added.
On May 9, digital navigation company CE Info Systems Ltd, operating under the MapmyIndia brand, reported a 28.2% year-on-year (YoY) increase in net profit to ₹48.6 crore for the fourth quarter ending March 31, 2025.
The company’s market capitalisation stands at ₹10,427.43 crore, with shares rising approximately 2% over the past year.
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