Slack: GevaS’s stock price ‘undervalued’
Geva S shares have risen sharply after the startup’s latest quarterly earnings report.
The company announced a 3% increase in revenue and profit as the company’s stock rose by more than 50%.
Geva has become one of the most sought after start-ups in India and the US due to its innovative cloud-based platform that allows developers to create apps and games.
The company’s quarterly report revealed that Geva had added 2,824 jobs in the last quarter of 2017, up from 2,769 in the same period last year.
The numbers were good for Geva’s third-quarter net income, which was up 8.3% to Rs 1,890 crore.
Geva has a strong revenue growth and a high growth rate for the company, which is one of India’s largest cloud computing services provider, according to a report from the IT-services provider, which does not reveal its exact numbers.
Geva is a joint venture between SAP and SAPHANA, the Indian Information Technology company.
Gevas CEO, Vishal Singh, said in a statement that Gevas business has grown exponentially since its inception in 2017.
He also said that Gava is looking to diversify the business.
The firm will also look at other opportunities in the future, he said.
Gesa has been investing heavily in India.
The startup is reportedly investing $1 billion in India, and is currently in talks to acquire 10 million sq ft of office space in Bangalore, according the Indian Express.
Gva also said in its quarterly report that its cloud computing platform is also in the process of being acquired by Google.
Gava has also said it is considering buying more shares in the next three quarters.
“We are currently exploring other opportunities to further diversify our business,” Geva CEO Vishal said.
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