Speaking about expansion plans, Verma said, “We have expanded to Southeast Asia in the automotive sector… we have started earning revenue already.” He added that the Southeast Asian market is nearly the same size as India’s, with about 4 million vehicles sold each year.
The company has projected that revenue from this region will grow from ₹26 crore in the fiscal year 2025-26 (FY26) to ₹80 crore by 2027-28 (FY28). Meanwhile, domestic penetration and adoption of advanced driver assistance systems (ADAS) are also expected to contribute to growth. “ADAS 2 is already here and we are looking at 2.5 in the next three years,” Verma said.
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Verma clarified that the company’s order book, expected to cross ₹2,000 crore by 2027-28, includes various types of contracts ranging from one to five years.
MapmyIndia recently reorganised its business into two parts: the parent company handling automotive and corporate enterprise, and a separate unit focused on government and IoT. Verma said while the government and IoT segments may grow faster, the automotive and enterprise segments offer higher margins. “We aim for 30% overall growth and a 35% plus earnings before interest, taxes, depreciation, and amortisation (EBITDA),” he said.
He added that fixed price contracts have become an important part of their business strategy. “With certain customers, fixed price contracts are beneficial because we get predictable revenue,” he said.
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In the defence sector, Verma said the company is primarily focused on software. “We are doing lots of projects in that area. For us, it’s straight business, not a buzzword,” he said. The company is also using its AI and mapping technologies in drones and defence-related work.
On rising competition in the AI mapping space, Verma said the company remains focused. “We take the noise seriously, but we’ve seen it for over 20 years. We have matured in how we separate noise from what’s real,” he said.
On May 9, digital navigation firm CE Info Systems Ltd, which operates under the MapmyIndia brand name, reported a 28.2% year-on-year (YoY) surge in net profit at ₹48.6 crore for the fourth quarter that ended March 31, 2025.
The company has a market capitalisation of ₹10,427.43 crore. Its shares have gained about 2% over the last year.
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