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Softline Software to double revenues

BS Reporter  |  Chennai/ Hyderabad 

Softline Software Services (Private) Limited, a Hyderabad-based IT products and services company, is expecting to double its revenues to Rs 80 crore during the current financial year on the back of its new enterprise resource planning (ERP) product offerings.

Announcing the launch of Focus i, the company’s new ERP product fully integrated with business intelligence tools, here on Monday, Mir Hasnain Ali Khan, chairman and chief officer of Softline, said the company was focusing on construction, electronics, retail, manufacturing, pharmaceutical and aviation sectors to deploy its new solution.

“Initially, we will be offering Focus i through a licensing model and introduce it as a software-as-a-service (SaaS) in the next six to nine months. We expect to have around 250 installations in the domestic market in the first year of the launch,” he said, adding that the basic version of the solution would cost Rs 9 lakh and would go up to Rs 18 lakh depending on the modules.

Softline also proposes to dilute 30 per cent equity through an initial public offering. The issue is aimed at expanding its manpower and campus in Hyderabad and also to meet its expansion plans in new overseas markets. To part fund the expansion, the company is in the process of finalising plans to raise Rs 100 crore through an IPO by June 2009.

“We are currently operating out of a leased facility in the city. We have chalked out plans to come up with our own campus for which around three acre is required. We are talking to the state government for the same. Financial modalities for setting up the campus are yet to be worked out,” Khan said.

First Published: Tue, October 07 2008. 00:00 IST