MapmyIndia has announced that CEO and Whole-Time Director Rohan Verma will step down from his executive role by March 31, 2025. He will assume the position of Non-Executive Director on the company’s board while pursuing a new entrepreneurial journey in the B2C space.
The company disclosed its plans in a stock exchange filing, revealing that MapmyIndia’s board has approved a strategic investment of ₹10 lakh for a 10% equity stake in Verma’s new venture, along with ₹35 crore through Compulsorily Convertible Debentures (CCDs). This move enables MapmyIndia to back Verma’s ambitions while staying focused on its core B2B and B2B2C operations.
Chairman and Managing Director Rakesh Kumar Verma will continue steering MapmyIndia as it strengthens its foothold in geospatial technologies. The company also announced additional investments in SimDaaS Autonomy (₹3 crore for a 9.37% stake) and Kaiinos GeoSpatial Technologies (₹2 crore for a 19.84% stake) via Compulsorily Convertible Preference Shares (CCPS).
Despite reporting a 13.82% year-on-year growth in Q2 FY25 revenue from operations, reaching ₹103.67 crore, MapmyIndia faced an 8.2% decline in consolidated net profit, standing at ₹30.33 crore compared to ₹33.04 crore in Q2 FY24.
This strategic reshuffle marks a pivotal moment for MapmyIndia as it continues to support innovation while evolving in the competitive geospatial technology landscape.
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