Hyderabad, Infotech Enterprises Limited has announced today that it took over majority stake in Hyderabad based Geospatial Integrated Solutions Pvt Limited (Geospace Integra) to address geospatial business opportunities in India and the Middle East.
The geospatial market in India and Middle East were estimated at Rs 1000 crore and was expected to see a 12 per cent growth rate over the next five years, a release said.
The India government's Open Map Policy and Survey of India's large-scale mapping initiatives are unlocking geospatial opportunities in several areas. These include land records; urban planning; environment, forestry and natural resources; utility infrastructure planning and management; and defense.
The rapid pace of infrastructure development in the Middle East had led to a growing demand for geospatial services in that region, the release added.
B. V. R. Mohan Reddy, Infotech's Chairman and Managing Director, said, "As we continue to reinforce our leadership position in the global geospatial markets, India and the Middle East become increasingly strategic to our growth objectives."
"By leveraging the knowledge and experience of Geospace Integra, supported by Chandrasekhar Nori's leadership, we have a compelling value proposition for customers in these markets. We expect to achieve Rs. 100 Crore revenue in the next three years from our India and Middle East business," he added.