Coforge Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 14 Aug 2026 | IT - Software | Market Cap: ₹80.3K Cr

Coforge anticipates strong and robust revenue growth in the coming future, supported by a healthy pipeline and recent deal signings. Coforge expects strong revenue growth momentum to continue into FY2027, building on a robust FY2026 performance with 32.8% YTD dollar revenue growth.

From Coforge Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹1,892

Market Cap

₹80.3K Cr

P/E Ratio

41.9

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Coforge Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹4.5K Cr, net profit ₹666 Cr.

Full financials →

📊 Revenue & Sales Performance

→Coforge anticipates strong and robust revenue growth in the coming future, supported by a healthy pipeline and recent deal signings.
→FY27 is expected to see further margin increases over FY26, backed by muted supply-side cost pressures and delayed wage hikes.
→Large deal momentum remains positive across multiple verticals including Banking, Healthcare, and Travel.
→The signed order book for the next 12 months is 30% higher than a year ago, indicating strong executable revenue.
→Geographic and sector diversification, including growth in Healthcare, High Tech, Public Services, and Banking, supports balanced growth.
→New acquisitions like Encora are expected to contribute to scale and product engineering services, further boosting revenues.
→There is confidence in cross-sell opportunities, exemplified by wins like the Sabre deal and related airline customer expansions.

📈 Profitability & Margins

→Coforge expects strong revenue growth momentum to continue into FY2027, building on a robust FY2026 performance with 32.8% YTD dollar revenue growth.
→The company is confident about further margin expansion, expecting EBIT margins to increase in FY2027 over FY2026, supported by muted supply-side wage pressure for at least the next four quarters.
→Earnings per share (EPS) for FY2026 is expected to improve post-approval of the Cigniti merger, as minority interest profits get added, surpassing the impact of share count increase.
→Q4 EBIT margin guidance is 15%, which will elevate FY2026 EBIT margins to around 14%.
→Free cash flow remains strong with FY2026 quarterly FCF to normalized PAT of 110%, supporting profitability outlook.
→Confidence stems from a healthy deal pipeline, signed large deals, and diverse vertical growth, providing a solid foundation for exceptional earnings growth in FY2027.

See what Coforge Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

The transcript from the provided pages does not explicitly mention any current or future capex, capital investment, or strategic investment plans in detail. However, there are some relevant points about investments and strategic initiatives: - Investment focus primarily on salespeople costs to scale business and support growth initiatives. - Commitment to investing in customer acquisition and signing large deals, including system integration and outcome-based contracts. - Encora acquisition intended to expand product engineering capabilities and cross-sell into different verticals. - Margin improvement initiatives include optimizing employee costs and improving average realization per consultant (ARC). - Continued investment in AI-infused delivery platforms (Code Insight AI, BlueSwan, Forge-X, Quazar) for enhanced execution. - No specific mention of capital expenditure or typical capex projects. Overall, the company's strategic investments largely center around talent acquisition, large contract signings, acquisitions (like Encora), and technology/delivery transformation rather than direct capital expenditure projects.

💰 Fundraising & Capital Structure

→Coforge Limited is very close to finalizing a $550 million term loan for a period of 3 years with a consortium of 4-5 banks.
→This term loan will be used to retire the term loan of the Encora Group.
→The company is comfortable with the pricing negotiated with the banks.
→There will be no need for a Qualified Institutional Placement (QIP) of $550 million to retire Encora's term loan.
→The guidance of no dilution of EPS in FY27 of the combined business stands intact even after taking on this debt.
→The company expects expenses related to the Encora acquisition, including integration and funding expenses, amounting to $10–$15 million over the next two quarters.
→Potential changes in hedging strategy are being considered but no finalized plans regarding equity fundraising were mentioned.

See what Coforge Ltd said on fundraising & capital structure — free account, 30 seconds.

📋 Order Book & Pipeline

→The executable order book stands at a record $1.72 billion as of Q3 FY26.
→This order book value represents locked orders expected to be executed over the next 12 months.
→The current order book is 30% higher compared to the same period last year.
→Total order intake during Q3 was $593 million, close to $600 million in large deals.
→Strong pipeline with six large deals signed in Q3, indicating robust future revenue visibility.

Key Metrics

What Coforge Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Coforge Ltd Q3 FY26 results?

What is Coforge Ltd share price analysis?

Coforge Ltd currently shows a neutral. The stock trades at a P/E of 41.9 with a market cap of ₹80,257 Cr. Investors should review the full earnings analysis for detailed insights.

Is Coforge Ltd planning capital expenditure?

The transcript from the provided pages does not explicitly mention any current or future capex, capital investment, or strategic investment plans in detail.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.