Hot Pursuit     12-Oct-22
Genesys Intl rises on bagging Rs 46-cr contract from Andhra Govt
Genesys International Corporation advanced 3.25% to Rs 578.95 after the company said that it has bagged an Rs 46 crore for land titling project by the Andhra Pradesh Government.

The project involves resurveying with modern technology using CORS Network, GNSS Receiver, and aerial systems. The project will make use of the company's recently launched Genesys Constellation, which is India's most comprehensive range of aerial, mobile, and terrestrial sensors that converts everyday objects into data sources.

The company said that the deregulation of geospatial space has provided the industry a significant boost, and it will enable companies like Genesys better serve the public and private sectors. Projects like land titling digitalization are examples of how the public sector is leveraging the latest technologies/initiatives enabled by the deregulation.

As part of the project, Genesys Constellation will demarcate residential zones, farms, and other natural and infrastructural characteristics, as well as property mapping and data digitization across the state. The project is planned to be finished this fiscal year.

Sajid Malik, chairman and managing director of Genesys International Corporation, commented: “Accurate land titling is a crucial need of the country to establish clear ownership of property in rural inhabited (Abadi) areas by mapping land parcels and providing a ‘Record of Rights' to village household owners. The property owners are issued legal ownership cards (Property cards/Title deeds) after ascertaining the plot boundaries accurately.

The resurveying is enabled by the sensors in the Genesys Constellation that provide the biggest swath in the world, which is generated by a single frame that captures more than 25000 pixels. Due to its capacity for acquiring highly accurate data sets at high speeds, it will be able to reduce long-standing problems with land titling and the ensuing legal issues with land records, which obstruct the acquisition of land for numerous infrastructure projects and present serious difficulties.”

Genesys, which has partnered with companies like Google, ESRI and Bentley to launch services such as ‘Street View' and ‘3D City Digital Twin Solution', is hopeful that this initiative will further gain momentum in other Indian states and usher in an era of modernization in the land recording.

Genesys International Corporation is engaged into providing Geospatial Information Systems (GIS) primarily involving digitization of maps, and conversion of paper-based drawings to the digital platform. GICL provides services to companies in industry verticals such as urban development, utilities, natural resources, disaster management, telecom, civil engineering, construction, infrastructure, and media.

The company reported a consolidated net profit of Rs 4.29 crore in the quarter ended June 2022 as against net loss of Rs 7.01 crore during the previous quarter ended June 2021. Sales jumped to Rs 42.69 crore in Q1 FY23 from Rs 13.67 crore in Q1 FY22.

Previous News
  Genesys International Corporation to hold board meeting
 ( Corporate News - 26-May-23   15:16 )
  Genesys Intl soars after forming strategic partnership with NNG for auto & mobility solutions
 ( Hot Pursuit - 27-Jun-24   14:08 )
  Genesys International Corporation consolidated net profit rises 210.28% in the December 2020 quarter
 ( Results - Announcements 04-Feb-21   08:26 )
  Genesys International partners with NNG
 ( Corporate News - 27-Jun-24   13:52 )
  Genesys International Corporation to convene board meeting
 ( Corporate News - 26-May-22   10:01 )
  Board of Genesys International Corporation approves scheme of amalgamation
 ( Corporate News - 20-Dec-22   10:17 )
  Genesys International Corporation standalone net profit rises 1000.00% in the December 2016 quarter
 ( Results - Announcements 16-Feb-17   16:19 )
  Genesys International Corporation postpones board meeting
 ( Corporate News - 30-May-22   12:12 )
  Genesys International Corporation consolidated net profit rises 100.83% in the September 2020 quarter
 ( Results - Announcements 04-Nov-20   08:08 )
  Genesys International Corporation reports standalone net profit of Rs 1.33 crore in the March 2015 quarter
 ( Results - Announcements 01-Jun-15   08:36 )
  Genesys International Corporation allots 30,950 equity shares under ESOP
 ( Corporate News - 30-Nov-22   18:50 )
Other Stories
  PEL board OKs ad hoc appointments post Rupen Patel's passing
  06-Jul-24   16:41
  Info Edge Q1 FY25 billings climb 11% YoY
  06-Jul-24   15:50
  IndusInd Bank advances climb 16% YoY in Q1 FY25
  06-Jul-24   15:18
  Adani Wilmar reports 13% volume growth in Q1 FY25
  06-Jul-24   14:44
  Tata Motors JLR wholesale rises 5% YoY in Q1
  06-Jul-24   13:01
  Marico's domestic biz sees modest volume growth in Q1
  06-Jul-24   12:25
  Titan revenue rises 9% YoY, adds 61 stores in Q1
  06-Jul-24   11:09
  Dabur India expects mid to high digit revenue growth in Q1
  06-Jul-24   10:40
  Dhanlaxmi Bank gains as gross advances rises 6% YoY in Q1 FY25
  05-Jul-24   15:27
  HDFC Bank Ltd leads losers in 'A' group
  05-Jul-24   15:00
Back Top