Coforge raised its full-year EBIT margin target to 16% and reported record quarterly order intake of $1.04 billion, while September-quarter revenue and net profit missed estimates reported by Informist Media.
Consolidated revenue for the quarter ended Sept. 30, 2026, was INR 61,708 million ($652.2 million), up 53.6% year over year in rupee terms and 11.6% sequentially. Informist Media reported an analyst estimate of INR 63.20 billion. Net profit was INR 5,881 million ($62.2 million), compared with the outlet’s reported estimate of INR 6.52 billion. Profit rose 13.4% from the previous quarter.
Earnings before interest and taxes (EBIT) totaled INR 9,847 million ($104.1 million). The EBIT margin was 16%, unchanged from the previous quarter and 134 basis points higher than a year earlier. Coforge raised its FY27 margin guidance to 16% from 15.5%. Coforge said it expects its EBIT margin to reach 17% next year.
Order intake rose 50.6% from $691 million in Q1 FY27. The executable order book for the next 12 months was $2.378 billion, up 45.4% year over year. Coforge said it signed eight large deals in the quarter, its highest number in a quarter. Revenue grew 10.9% sequentially in constant-currency terms; growth in U.S. dollars was 10.1%, while organic constant-currency growth was 3.8%.
Brokerage views were mixed. CNBC-TV18 reported that Jefferies maintained a Buy rating with a target of INR 2,230, while Citi maintained a Sell rating with a target of INR 1,750. NDTV Profit reported that Kotak Neo maintained Buy with a fair value of INR 2,300 and JPMorgan maintained Overweight with a target of INR 2,150. The outlet also reported that Citi cited concerns about organic growth and order-book trends.
Singh credited operational execution and Coforge’s internal use of AI with supporting margins, while describing pricing pressure in technology services as acute. The next near-term indicator is Q3 deal activity: Singh said he hoped Coforge would sign eight or more large deals in the quarter.
