India's Coforge to top $2 billion revenue target, CEO says
BENGALURU :Indian mid-tier IT services firm Coforge is betting that a healthy order book will help it top the $2 billion revenue target for the financial year 2027, chief executive Sudhir Singh said.
The company snagged a 13-year contract valued at $1.56 billion from U.S.-based travel technology provider Sabre Corp in the previous quarter. That came at a time when larger rivals struggled to secure mega deals as macroeconomic uncertainties and tariff risks weighed on the Indian IT sector.
Coforge's revenue for the last fiscal year stood at $1.45 billion.
"If all we've done in FY27 is $2 billion, then I'll be really disappointed," CEO Singh said in an interview on Tuesday.
"Our next 12-month signed order book is 47.7 per cent higher than where it was at the same time last year," he said.
Despite the high level of uncertainty, Singh is hopeful that tech spending cannot go down in areas where it is "structural in nature".
Singh said Coforge's demand outlook in the current fiscal year is strong, as all its verticals and geographies are growing. The company gets nearly 30 per cent of its revenue from banking and financial services, 19 per cent from insurance and 18 per cent from travel, transportation and hospitality.
The IT firm's revenue grew 33.8 per cent in the fiscal year ending March, and it is relying on steady organic growth this year.
"I don't see organic growth slowing in any shape or manner in FY26," Singh said. Coforge's organic revenue growth stood at about 16.4 per cent last fiscal year, according to Kotak Institutional Equities.
Nomura said it expects the company's organic revenue growth to "accelerate" this fiscal year.
Larger peer Infosys expects a revenue growth of zero to 3 per cent this fiscal year while HCLTech foresees a 2 per cent to 5 per cent rise.
Singh is bullish on operating margins going up "materially" as Coforge focuses on larger deals.
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