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Motilal Oswal Report
Coforge Ltd.'s revenue growth of 8.1% QoQ constant currency was better than expected (7% QoQ), driven by good broad-based recovery in verticals and geographies.
Operational improvement supported Ebitda margin expansion by 174 basis points QoQ to 17.8%, ahead of our estimate of 17.2%.
The company reported a healthy order intake of $201 million.
A robust deal pipeline, continued momentum in large deal wins (two deals in the quarter), and executables of $489 million (in 12 months; 21% YoY) indicate an optimistic outlook.
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