Laying the Path to US$5bn Revenues by FY30

研报英文原文证据摘录

Laying the Path to US$5bn Revenues by FY30

India | Computer Services & IT Consulting

Coforge EquityJuneResearch16, 2026

FLASH NOTELaying the Path to US$5bn Revenues by FY30

At its investor day, Coforge highlighted its US$5bn revenue aspiration RATING BUY

(~19% CAGR; 15% organic), led by account mining, AI-led services PRICE INR1,464.55^

and ecosystem partnerships, with selective M&A support. Coforge PRICE TARGET | % TO PT INR1,860 | +27%

is pivoting to an AI-native, platform-driven model, combining domain 52W HIGH-LOW INR1,994.00 - INR1,008.50

expertise with reusable assets. The move to FDE-led, mod squad delivery FLOAT (%) | ADV MM (USD) 96.9% | 73.47

is improving productivity and enabling larger, outcome-based deals, MARKET CAP INR491.8B | $5.2B

supporting sustained profitable growth. TICKER COFORGE IN

^Prior trading day's closing price unless otherwise

noted.

Aiming for US$5bn topline by FY30: At its investor day, Coforge laid out its ambition to grow

its top line to US$5bn by FY30. This implies a 19% CAGR (organic 15% CAGR) over FY26-30.

Management highlighted that its strategy focus on domain and technology (unchanged since

2018) which along with its differentiated solutioning engine, relentless execution, long-tenured

leadership and disciplined approach to acquisitions position it well to deliver industry-leading

growth. Management expects to drive this growth by scaling AI-led engineering, data, and cloud

services practice lines, expanding market reach through partner-led growth (hyperscalers, AI

ecosystem) and disciplined acquisitions to add new capabilities.

Disciplined and differentiated M&A strategy: Management views its acquisition strategy as

differentiated and somewhat contrarian relative to peers. The company follows a rigorous