Genesys International Surges 4% After Collaboration with Survey of India for 3D Mapping

24 Nov, 2023

Genesys International Surges 4% After Collaboration with Survey of India for 3D Mapping

Shares of Genesys International Corporation Limited experienced a notable surge of over 4%, reaching Rs 378 during the morning trade on November 23. The spike followed the announcement of the company's partnership with Survey of India (SOI), aimed at revolutionizing India's map content.

The strategic collaboration focuses on the development of digital twins for major cities and towns, leveraging SOI's recently launched CORS network. This network enables real-time access to high-precision positioning data.

"This collaboration aligns with India's National Geospatial Policy 2022, emphasizing self-reliance in geospatial data production and usage," the company stated in a release on November 22. "This comprehensive dataset will serve as the foundation for creating detailed and accurate urban representations."

SOI's CORS network, which comprises 902 stations across all states and union territories, delivers real-time, high-precision positioning data.

Genesys International is acclaimed for meticulously crafting comprehensive, fully navigable road datasets spanning 8.5 million kilometers, incorporating 40 million Points of Interest (POIs), addresses, and an extensive 1 million kilometers of 360-degree panoramic imagery throughout urban areas across India.

Hitesh Kumar, Surveyor General of India, emphasized, "The 3D Digital Twin we aim to create will be instrumental for various new government initiatives. The integration of our CORS technology with the private sector's surveying expertise will significantly enhance the usability and reliability of geospatial data."

As of 11:07 am, the stock was trading at Rs 360.75 on the National Stock Exchange, reflecting a 0.19% decrease from the previous close.