Coforge Limited raised its FY27 consolidated EBIT margin guidance to 16% after quarterly contract intake more than doubled year over year, setting a higher profitability target alongside a strong pipeline of new work.
Coforge's investor presentation listed Q2 FY27 total contract value (TCV) intake at $1.04 billion, 50.6% higher than in Q1. During the earnings call, Coforge Chief Executive Officer and Executive Director Sudhir Singh put the year-over-year gain at 102%.
The presentation valued the executable order book for the coming 12 months at $2.38 billion, 45.4% above the year-earlier figure. Singh said Coforge closed eight large deals during the quarter, setting a company quarterly record. Among the wins was a $230 million agreement signed in July 2026 for a U.K. public-sector customer.
Revenue for the quarter ended Sept. 30, 2026, was $652.2 million, an annual increase of 40.1% measured in U.S. dollars. Organic growth from Q1 was 3.8% on a constant-currency basis. Coforge described the period as its first complete quarter since the Encora acquisition.
Separately, NDTV Profit and Whalesbook reported that ICICI Securities retained its Buy rating and raised its target price for Coforge to ₹2,290. NDTV Profit said the brokerage based its target on estimated earnings per share of ₹82 and a 28-times multiple, and raised its FY28 EPS estimate by 7%.
Coforge set its consolidated FY27 EBIT margin guidance at 16%, up from 15.5%. It also kept its FY27 goal of matching free cash flow with profit after tax, continuing its earlier coverage of Coforge's cash-conversion outlook.
For Q3 FY27, management set a goal of securing eight or more large deals. It projected a 17% EBIT margin for Q4 FY27 and said it expects margins to move above that level in later periods.
