Cyient said that it has been selected by HM Land Registry (HMLR) to support its local land charges (LLC) programme.
HM Land Registry safeguards land and property ownership valued at 7 trillion, enabling over 1 trillion worth of personal and commercial lending to be secured against property across England and Wales. The land register contains more than 26 million titles showing evidence of ownership for more than 87% of the landmass of England and Wales.
Cyient has partnered with Esri UK and Xerox to deliver this project. The partnership brings a wealth of proven and relevant experience of direct and tangible benefits to the LLC program.
The program aims to digitize and migrate millions of separately held local land charge records from local authorities into a centralized digital register. This will enable HMLR to provide a single and simple-to-use digital service for homebuyers and conveyancers.
Matt Wood, Geospatial Sales Director, EMEA, Cyient, said: "We are delighted to have been selected by HMLR to support the LLC Programme. Cyient's experience in successfully delivering large volume geospatial information digitizing and migration projects made us a solid fit for HMLR."
Cyient will work with Esri UK to provide a fully configured and customized version of the Esri SWEET software package, which will be used as the primary spatial capture and improvement tool for HMLR.
Xerox's capture and content services, which use powerful artificial intelligence and machine learning, will automatically capture and validate information from digital and physical local land charge records.
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Cyient will own the entire process and provide a central management information platform, allowing for "single pane of glass" reporting, with the ability to drill down to prove data integrity and provenance. Cyient will provide all spatial capture and improvement services as well as textual capture.
Cyient is a global engineering and technology solutions company. The company leverages digital technologies, advanced analytics capabilities, domain knowledge, and technical expertise to solve complex business problems.
On a consolidated basis, the company's net profit rose 8.07% to Rs 103.10 crore on 4.67% rise in net sales to Rs 1,093.10 crore in Q4 FY21 over Q3 FY21.
The scrip shed 0.08% to currently trade at Rs 850.45 on the BSE.
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