Genesys International Corporation zoomed 8.60% to Rs 614.95 after the company announced a strategic partnership with NNG, a leading automotive navigation and connected car technology solutions provider.
Through this collaboration, the company aims to transform the Indian automotive industry by providing its clients with AI-powered navigation and connected car solutions.
With over 22 years of operational expertise, NNG's technology is embedded in more than 30 million vehicles globally, collaborating with 34 prestigious automotive manufacturers, including Lamborghini, Ferrari, Renault, Ford, Mazda, Jaguar Land Rover, Harley Davidson, McLaren, and Porsche among others.
The partnership between Genesys International and NNG will introduce Indian drivers to a unique connected car experience through a wide range of tailor-made solutions by integrating Genesys' elaborate mapping data with NNG's advanced AI-powered navigation systems.
Sajid Malik, the CMD of Genesys International, said: NNGs world-renowned technological expertise is a valuable addition to our portfolio.
We are making remarkable strides to strengthen our automotive vertical, and this partnership with NNG shall significantly boost our services within the connected car technology space, enabling us to deliver advanced solutions that enhance the driving experience for Indian motorists.
By leveraging our AI-powered maps, Advanced Driver Assistance Systems (ADAS) with Intelligent Speed Assistance (ISA) alongside NNGs exceptional navigation solutions and connect car services, we look forward to using our combined strengths to contribute to building safer and smarter mobility solutions in India."
Genesys International Corporation is a premier advanced mapping company. With a team of over 2,000 professionals along with the nationwide Genesys constellation of sensors, the company is building the new India map stack. Genesys International has unique expertise, encompassing an understanding of emerging consumer applications related to mapping technology and the capability to provide cutting-edge solutions on the enterprise and government markets.
The company's consolidated net profit surged to Rs 14.85 crore in the quarter ended March 2024 as against Rs 2.15 crore during the previous quarter ended March 2023. Sales rose 52.66% to Rs 71.17 crore in Q4 FY24 over Q4 FY23.
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