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MapmyIndia Earnings Q3FY2024: Company talks about expanding its drone business model

In its financials, MapmyIndia described its drone pillar in the nascent stage with an investment of 20 percent in Indrones Solutions.

MapmyIndia announced that it won a drone 3D mapping and risk monitoring business with a large logistics company, foreseeing it as potential for recurring business. During its recent earnings call, Rohan Verma, CEO of MapmyIndia, said, “Once somebody starts wanting to do these continuous inspections and monitoring, it starts becoming a recurring business. But obviously, this drone business starts off with the first time and then as it becomes part of their SOPs to do the risk assessment, and risk assessment can't be a one-time activity. It has to continuously happen. So, at this stage, it's early stage with that customer, it's also not fully deployed across. There are also numerous upsells there in terms of multiple warehouses, multiple yards, and then multiple times. And then there are additional upsells of the software stack with that for analytics and other things, which are non-drone-based. So it's good that we are having these multiple entry points or multiple use cases across different products, for that same customer or different customers. That's what's exciting to us about our business that using this, we got into this customer, who was not a customer before. But we know there are numerous more things to upsell. And even within the drone, there's a recurring business that can happen.” Shareholders focusing on Indrones investment: In its financials, MapmyIndia described its drone pillar as in the nascent stage with a 20 percent investment in Indrones Solutions. According to the document, the company plans to offer drone-based solutions…

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I'm interested in the shaping and strengthening of rights in the digital space. I cover cybersecurity, platform regulation, gig worker economy. In my free time, I'm either binge-watching an anime or off on a hike.

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