Street-view portal WoNoBo’s parent company Genesys International Corporation has reported a 93.73% decline in its profits to Rs 0.29 crore for the quarter ended September 30, 2014, from Rs 4.57 crore profit in the same quarter last year. It had posted a net profit of Rs 1.75 crore in the preceding quarter.
The operational income also dipped to Rs 15.53 crore for the quarter, down 32.62% from Rs 23.05 crore in the same quarter last year. On a quarterly basis, the operational income dipped by 2.67% from Rs 15.96 crore in the previous quarter.
Genesys primarily works in the overseas market as a Geographical Information Systems (GIS) outsourcing company. It has worked for Microsoft’s search engine Bing and NAVTEQ. The company also works in areas like imagery acquisition, photogammetry, remote sensing, and data conversion among other things.
The company had launched WoNoBo in October last year to enter into the consumer segment. WoNoBo offers a street view-like 3D view of cities on the web and through an Android app which was launched in April this year.
WoNoBo also added a property section in May this year, allowing users to virtually navigate through streets and search for residential and commercial properties up for sale or rent. It also offers a street-view like 3D navigation within individual apartments and a 360 degree virtual preview of under-construction projects.
The section however still features properties only from Mumbai, with other cities expected soon. On the other hand, Info Edge* had rolled out interactive 3D building models on 99Acres through a design studio acquisition earlier this year.
Housing had also introduced 3D building models for new projects in February this year, positioning it as an alternative to brochures and display ads, while CommonFloor introduced augmented reality-based property listings through its Android app in March last year. Bertelsmann India-backed IndiaProperty had also introduced 3D property tours in July this year.
*Disclosure: Info Edge is an advertiser with Medianama