COFORGE

continues growth momentum

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has surged to become India’s seventh-largest IT outsourcer by revenue, edging past Mphasis Ltd thanks to a robust 9.6% quarterly growth that took its Q1 FY26 revenue to $442 million, while Mphasis reported $437 million, growing only 1.6%. → Coforge’s rapid advancement included overtaking Persistent Systems and Hexaware Technologies within a year, aided by a transformative $1.56 billion, 13-year Sabre deal and the acquisition of a 54% stake in Cigniti Technologies. Despite tough sector conditions and churn among mid-cap IT players, Coforge’s order book swelled → But challenges persist: its operating margin was flat at 13.1% and negative quarterly free cash flow stood at $21.5 million. Still, analysts expect Coforge’s momentum to push it into the $2 billion revenue league by June 2026, even as profitability and cash flow remain areas to watch