He expressed confidence about MapmyIndia’s market position amid Google slashing subscription prices for its maps platform and Ola announcing a new pricing structure to attract developers to Ola Maps
Google Maps and MapmyIndia are the two most dominant players in the mapping services space, Ola Maps entered the segment in June
The company is on track to achieve a milestone of INR 1,000 Cr revenue by FY27 or FY28, as per the CEO
Days after geotech company MapmyIndia’s parent entity CE Info Systems accused Ola Electric of illicitly copying its data to build its Ola Maps interface, the former’s CEO Rohan Verma has said that the quality of Ola Maps is not up to the mark and that Google’s pricing is inconsistent.
He expressed confidence about MapmyIndia’s market position amid Google slashing subscription prices for its maps platform and Ola announcing a new pricing structure to attract developers to Ola Maps.
“When it comes to pricing, we base it on the value we provide to our customers. We have always been price conscious. Unlike some competitors who fluctuate between offering services for free, charging high prices, or frequently changing their rates, we have been consistently predictable, reliable, and value-based for our customers,” said Verma in a post-earnings call.
It is important to note that while Google Maps and MapmyIndia
are the two most dominant players in the mapping services space, Ola Maps entered the segment in June. Other notable competitors include Apple Maps, Dutch giant HERE Technologies, TomTom, MapBox and OpenStreetMaps.
“Regarding competition, there’s one type like Google, and then there’s the new entrant offering everything for free. Let them do it. Any serious user, I doubt, will consider using something that doesn’t work. As for Google reducing prices, we are not too concerned about that either. It seems they were responding to our pricing that’s what took them some time. It’s just a coincidence that the new entrant also made their move at the same time,” he said.
“And the second part is, we’ve been dealing with competition for so long, and the competition has often been arbitrary with pricing. We, however, have stayed close to our customers, pricing based on the value we provide and through mutual agreement,” Verma added.
He said that the increased noise and adoption in the mapping industry reinforces the company’s belief in becoming a disproportionate winner, adding that mapping is a challenging and serious business requiring long-term expertise, investment and a proven track record. Despite numerous global and Indian competitors over the years, only a few have succeeded, with MapmyIndia standing out for its accuracy and quality, he added.
The company is not only focused on maps but also innovating across multiple products and industries, including IoT and 4D solutions.
Commenting on whether its customers might switch to Ola Maps or Google Maps, Verma said that switching providers is not easy.
He further mentioned that the company is on track to achieve a milestone of INR 1,000 Cr revenue by FY27 or FY28.
“Our revenue projections are based on the growth in our open order book. While our business can experience some lumpiness, we are not concerned, as the overall trend indicates growth in the right direction,” he added.
MapmyIndia divides its market-wise revenue into two categories – automotive & mobility tech business (A&M) and consumer tech & enterprise digital transformation (C&E). It divides its product-wise revenue into two segments – map & data and platform & IoT.
The geotech company’s consolidated profit after tax (PAT) declined 6% on a quarter-on-quarter (QoQ) basis to INR 35.9 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25). Operating revenue declined 5.1% QoQ to INR 101.5 Cr.
