MapMyIndia CEO Rohan Verma To Step Down, Transition To Non-Executive Director Role

MapMyIndia has declared that its CEO and full-time director, Rohan Verma, will step down from his executive role effective 31 March, 2025. Verma will transition to a Non-Executive Director role on the company’s board.

In a stock exchange filing, MapmyIndia confirmed that Verma plans to focus on launching a new business venture targeting the B2C segment. To support his entrepreneurial ambitions, the company’s board has approved an investment of Rs 10 lakh for a 10 per cent equity stake in the new entity, alongside an additional Rs 35 crore in Compulsorily Convertible Debentures (CCDs).

This strategic shift will allow MapmyIndia to focus on its core B2B and B2B2C businesses while supporting Verma’s new venture. Rakesh Kumar Verma, Chairman and Managing Director of MapmyIndia, will continue to lead the company, aiming to strengthen its position in geospatial technologies and related innovations.

Additionally, the board has approved investments of Rs 3 crore in SimDaaS Autonomy for a 9.37 per cent stake and Rs 2 crore in Kaiinos GeoSpatial Technologies for a 19.84 per cent stake, both through Compulsorily Convertible Preference Shares (CCPS).

In its recent Q2 FY25 financial report, MapmyIndia reported a 13.82 per cent year-on-year increase in revenue from operations to Rs 103.67 crore. However, the company saw an 8.2 per cent decline in consolidated net profit, which stood at Rs 30.33 crore compared to Rs 33.04 crore in Q2 FY24.