Chennai, March 3 (IANS) Banking software company Laser Soft Infosystems plans to increase its headcount and expand its international presence next fiscal.

'The business is good. We will be adding around 100 people next year to our existing 600 member workforce. We are looking at newer markets apart from Africa and eastern Europe. In addition to core banking solution (CBS) we are looking at software products for treasury and cash management,' B. Suresh Kamath, the company's managing director, told IANS.

According to him, the integration of Laser Soft with another banking software company, Polaris Software Lab, had been smooth. Polaris Software acquired majority stake in Laser Soft last October for Rs.52 crore.

'With the backing of Polaris balance sheet we are now able to bid for many projects that were not possible because of smaller balance sheet. While we focus on the product side, Polaris marketing team takes care of our marketing as well,' Kamath added.

According to him, the company will be closing this fiscal with a turnover of around Rs.40 crore.

Kamath welcomed Finance Minister Pranab Mukherjee's budget announcement on issuance of new banking licences. 'It is good news for companies like us. Further, the new players now have various options in getting their CBS.'