MapmyIndia logs 35% PAT growth in FY24, new order bookings up 63%

Homegrown geospatial software provider MapmyIndia on Monday reported operating revenue of Rs 379.4 crore in FY24, up 35 per cent (year-on-year). The deep-tech digital map data platform clocked 47 per cent growth in operating revenue for the January-March period (Q4) to Rs 106.9 crore.

Annual new order bookings grew 63 per cent to Rs 834 crore in FY24. “Our overall revenue growth during FY24 was broad-based, with consumer tech and enterprise digital transformation revenue up 49 per cent (YoY) to Rs 194 crore, and automotive and mobility tech revenue up 23 per cent to Rs 186 crore on the markets side,” informed Rohan Verma, CEO and Executive Director, MapmyIndia.

On the products side, the map and data revenue grew 23 per cent to Rs 138 crore and platform and IoT revenue surged 42 per cent to Rs 241 crore. “Our profit after tax (PAT) grew 25 per cent to Rs 134.4 crore, with PAT margins at 32 per cent,” said Rakesh Verma, Chairman and Managing Director, MapmyIndia.

More than 20 million people have downloaded the company's Mappls app. “We continued to acquire new B2B and B2B2C customers -- including many businesses and enterprises across industry verticals, new-age consumer-tech companies and key government organisations,” said Rohan.

MapmyIndia has built India's most comprehensive and feature-rich digital map, down to address and urban building level detail, covering all towns, villages, and the entire road network of the country.