We attended Coforge’s Investor Day 2025 wherein the management discussions were largely centered on strategic objectives, growth vectors and execution intensity. Key takeaways: Growth drivers are clearly articulated around four pillars: 1) Big bets on AI-led engineering, Data and ServiceNow, with geographies such as North America West, Midwest and ANZ still underpenetrated; 2) Focus on structuring large contracts through proactive deals rather than RFP-driven deals, with a target of ~20 large deals this year (10 done so far); 3) Scaling up key accounts by deepening relationships with existing Fortune 2000 clients; and 4) Acquisitions focused not on capabilities but on client base access with capabilities to be created internally. We believe Coforge’s strong executable order book and resilient client spending across verticals bode well for its organic business. Cross-selling opportunities in Cigniti remain highly synergistic for the company.
OutlookWe continue to view Coforge as a structurally strong mid-tier player wellplaced to benefit from vendor consolidation/cost-takeout deals and digital transformation. We value Coforge at 38x FY28E EPS with a TP of INR3,000, implying a 54% potential upside. Reiterate BUY.
For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Coforge - 09122025 - motiDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
