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Coforge Q4 Review: Undaunted Commentary For FY27 Target; Dolat Capital Maintains 'Add', Hikes Target Price
A healthy order book, large deal win capability and robust execution can support, drive up Coforge's valuations, says Dolat Capital.
06 May 2025, 10:04 AM IST 
Coforge reported 3.4% QoQ growth, (adjusted for AdvantageGo divestment, constant currency growth was 4.6% QoQ). (Photo source: Coforge website)
Noting Coforge's deal win ramp-up (Sabre deal run rate addition of over $25 million + Rythmos Inc. and TMLabs), and continued execution, the brokerage expects a growth of 8% QoQ for Q1 FY2026. Impact of visa cost and overheads to drive growth/investments to affect Adjusted Ebitda margin improvement, thus restricting operating profit margin gain to mere 9bps to 18.8%. That said, lower ESOP to improve OPM by 23 bps QoQ to 13.4%.
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