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Coforge delivers another exceptional performance in Q3 FY25

  • Revenue up 40.3% YoY, 8.4% QoQ in CC terms
  • EBITDA up 29.3% YoY, 7.2% QoQ Operating Cash Flow at $47.0 Mn, up 211% QoQ
  • Order Executable at $1.37 bn, up 40.1% YoY

Noida, January 22, 2025: Coforge Limited (NSE: COFORGE), a leading global IT solutions organization, today announced its financial results for the quarter ended December 31, 2024 (Q3 FY25).

Key Financial Highlights

  • Revenue: INR 3,318.2 crore/ US$ 397.1 million
    • Up 8.4% Q-o-Q and 40.3% Y-o-Y in constant currency (CC) terms
    • Up 7.5% Q-o-Q and 40.8% Y-o-Y in USD terms
    • Up 8.4% Q-o-Q and 42.8% Y-o-Y in INR terms
  • EBITDA: INR 519.0 crore, up 29.3% YoY.
  • Adjusted PAT: INR 268.0 crore (Excl Minority), up 10.3% on a YoY basis
  • The Board has recommended an interim dividend of INR 19/- per share, and the record date for this payout will be January 30th, 2025

“A 8.4% sequential cc growth, a 40.3% cc YoY growth in a seasonally weak quarter, four large deals in that same quarter, a concurrent and material sequential expansion of 122 bps in margins, a Cigniti business that has already touched an EBITDA margin of 17.3%, a large deals pipeline that is looking very robust and finally an ever strengthening next twelve month signed order book which now is 40% higher YoY gives us confidence that the coming year shall once again see robust and sustained growth.” said Sudhir Singh, Chief Executive Officer and Executive Director, Coforge Ltd

Key Business Highlights

  • Order Intake: US$ 501 million - second consecutive quarter of US$ 500+ million order intake
  • Sustained Large Deal Momentum: Four large deals signed this quarter across North America and ASEAN
  • Headcount: stood at 33,094; net addition of 611 sequentially. Headcount has increased 16% organically since the beginning of the year
  • Broad based growth across Americas (69.2%), EMEA (20.5%) and RoW (3.3%) YoY
  • Cigniti business delivered 3.5% cc QoQ growth; EBITDA margin improved to 17.3%; up from 11% in Q4 FY24

Recognitions

  • ISG recognized Coforge as a ‘Leader’ in the Insurance Services 2024 ' ISG Provider Lens Study – North America
  • Nelson Hall recognized Cigniti, A Coforge Company, as a ‘Leader’ in NEAT Quality Engineering 2024 in the following categories – Overall, Gen AI Use Cases, AI-Based Analytics and Automation, RPA-Based Automation, Application Migration to Cloud Testing
  • Nelson Hall recognized Coforge as a ‘Major Player’ in the Market Assessment on Transforming Core Banking Services in the AI & Analytics Services and Operation Services market segments
  • ISG positioned Cigniti, A Coforge Company, as a ‘Leader’ in ISG Provider Lens™ – Next Gen ADM Services 2024 – Continuous Testing Specialist – US
  • Everest Group positioned Cigniti, A Coforge Company, as ‘Leader’ in Quality Engineering Services for Mid-Market Enterprises PEAK Matrix® Assessment 2024

Partnerships

  • Coforge was announced as the winner of the Appian Europe 2024 Partner Impact and Excellence—Industry Award for Public Sector
  • Coforge was awarded the Microsoft Azure Expert Managed Service Provider (AEMSP) status, third year in a row
  • Coforge gained the Microsoft “Solutions Partner” designation for Data and AI

Awards

  • The Coforge Public Library was honored as the Best Education Initiative for the General Public of the Year, at the prestigious Indian CSR Awards 2024.
  • Coforge was recognized as one of India's Best Workplaces in IT & IT-BPM 2024 by Great Place to Work third time in a row
  • Coforge was recognized as one of the Most Preferred Workplaces for Women 2024-2025 by Marksmen Daily
  • The Hyderabad campus of Coforge was awarded the coveted LEED Gold certification by the U.S. Green Building Council (USGBC) for Interior Design and Construction

About Coforge

Coforge is a global digital services and solutions provider, that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. A focus on very select industries, a detailed understanding of the underlying processes of those industries and partnerships with leading platforms provides us a distinct perspective. Coforge leads with its product engineering approach and leverages Cloud, Data, Integration and Automation technologies to transform client businesses into intelligent, high growth enterprises. Coforge’s proprietary platforms power critical business processes across its core verticals. The firm has a presence in 21 countries with 25 delivery centers across nine countries.

Learn more at www.coforge.com