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Genesys achieves 3D Mapping - Digital Twin Traction in Saudi Arabia: Wins Rs. 76 Crore Worth of Orders and Establishes Subsidiary

Posted On : 2023-09-18 16:04:12( TIMEZONE : IST )

Genesys achieves 3D Mapping - Digital Twin Traction in Saudi Arabia: Wins Rs. 76 Crore Worth of Orders and Establishes Subsidiary

Genesys International Corporation Limited, ("Genesys") a pioneer in providing advanced mapping, survey and geospatial services announces a pivotal milestone in its growth strategy with the establishment of a subsidiary in the Kingdom of Saudi Arabia (KSA). This strategic move coincides with a pivotal juncture in KSA's infrastructure development, notably the NEOM project, and underscores Genesys's commitment to advancing its Digital Twin program, which has gained remarkable traction in Saudi Arabia due to the extensive infrastructure and urban planning initiatives underway. The Company in an announcement today shared its recent accomplishment of securing an order worth ₹ 67 crores in Saudi Arabia. With this, the cumulative order wins in KSA totaling Rs. 76 crores

The work would involve creating Elevation models, digital form outputs, up-dation of buildings layer, transport network, hydrographic network, land cover database and alignment with the national geospatial platform. These accomplishments underscore the unwavering dedication, expertise, and trust clients bestow upon Genesys.

Of particular note is Genesys involvement with the NEOM project - considered one of the most landmark structures in the world - The Line. The Company has also recently concluded the indoor mapping of close to 24 airports in Saudi Arabia.

Mr. Sajid Malik, CMD, Genesys International, commented on the development, stating, "We are excited to deepen our roots in Saudi Arabia, a nation spearheading transformative infrastructure projects. Securing cumulative orders worth Rs. 76 crores underscores our team's expertise and dedication to the region's development. We look forward to making a significant contribution to Saudi Arabia's growing infrastructure landscape and continuing to provide exceptional value to our clients."

Mr. Malik further added, "The establishment of the office/subsidiary in KSA signifies just the beginning of an exciting journey. Genesys remains committed to nurturing robust partnerships, driving innovation, and consistently delivering excellence to meet the evolving needs of our clients not only in Saudi Arabia but also across the global landscape."

Shares of Genesys International Corporation Limited was last trading in BSE at Rs. 357.55 as compared to the previous close of Rs. 368.25. The total number of shares traded during the day was 4405 in over 307 trades.

The stock hit an intraday high of Rs. 364.20 and intraday low of 356.00. The net turnover during the day was Rs. 1588044.00.

Source : Equity Bulls


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