Coforge logo

Coforge share price

NSE: COFORGEBSE: 532541IT - SoftwareMid Cap

Coforge Limited · Formerly NIIT Technologies · Face value ₹2 · Listed Aug 2004
Last close ₹1,962.00up ₹0.10 (0.01%)BSE ₹1,960.00

Share price at the NSE close on 29 Oct 2026. Previous close ₹1,961.90.

29 Oct: open ₹1,975.00, high ₹1,978.50, low ₹1,939.00

52-week range of traded prices to 29 Oct 2026
₹1,008.10Low, 17 Mar 2026₹2,021.20High, 31 Aug 2026
Market cap
₹86,924 Cr200th largest listed
P/E
44.35
P/E without one-offs
38.26
P/B
3.89
Dividend yield
0.61%
ROE
13.4%
ROE without one-offs
15.5%
ROCE
10.7%
Debt to equity
0.25
Volume, NSE
15,64,32150.7% delivered

Coforge share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

+9.2%over a year · Nifty IT −11.7% · Nifty 500 −8.4%

ResultsDividend20-session average 26,31,172 shares a day, 44.9% delivered

About Coforge

Coforge Limited is an IT services company that builds customised software, digital platforms and managed services for enterprise clients.12 Its work centres on engineering, using AI, cloud, data, integration and automation.3 Its chosen industries are banking and financial services, insurance, travel, healthcare, hi-tech and the public sector outside India.4 It operates across North America, South America, Europe, the Middle East, India, Asia-Pacific and Australia.4

It runs 54 delivery centres in 32 countries and had 47,365 employees at the end of September 2026.45 Its own AI platforms include CodeInsightAI, which modernises old software, BlueSwan, for automated software testing, and EvolveOps.AI, which runs IT operations and fixes faults automatically.6

It was incorporated in 1992.7 It took control of Cigniti Technologies, a software testing and engineering firm, on 5 Jul 2024.89 Cigniti merged into the company on 5 May 2026, with an appointed date (the date from which the merger counts in the accounts) of 1 Apr 2025.1011 It bought all of Encora, an engineering firm founded in Silicon Valley, on 23 Apr 2026, paying mainly with 9,37,96,508 new shares issued at ₹1,815.91 each.1213 Encora brought about 9,500 people, including more than 3,500 engineers in Latin America and Eastern Europe.12

As at 31 Mar 2026 the company listed no promoter.14 Encora's former owners, Encora Holdco Ltd. (UK) and AI Altius Parent (Cayman) Limited, may nominate 2 directors to its board while they together hold more than 15% of its shares.15

Coforge key points

Results

  • In the quarter to Sep 2026, revenue was $652.2 million, up 40.1% from a year earlier; EBIT (profit before interest and tax) was $104.1 million, 16.0% of revenue, and profit after tax $62.2 million, up 42.7%. These include Encora from 1 May 2026.1617
  • In the year to Mar 2026, consolidated revenue (the company with its subsidiaries) was $1.87 billion, up 29.2% in dollar terms.18
  • In rupees, consolidated revenue rose 35.9% to ₹164,027 million from ₹120,733 million; EBITDA (profit before interest, tax, depreciation and amortisation) was ₹30,464 million, 18.6% of revenue, and net profit attributable to shareholders, including discontinued operations, ₹15,557 million.19

Business segments

  • Consolidated revenue by reporting segment (region)20
    Itemyear to Mar 2026year to Mar 2025
    Americas₹93,344 million₹66,190 million
    Europe, Middle East and Africa₹47,425 million₹40,680 million
    Rest of world₹23,258 million₹13,863 million
  • Share of revenue by region21
    Itemquarter to Sep 2026quarter to Sep 2025
    Americas63.1%57.9%
    Europe, Middle East and Africa24.6%28.9%
    Rest of world12.3%13.2%

Revenue mix

  • Share of revenue by industry22
    Itemquarter to Sep 2026quarter to Sep 2025
    Banking and financial services25.3%27.6%
    Travel, transportation and hospitality20.2%23.3%
    Healthcare and hi-tech17.6%10.0%
    Insurance12.8%15.1%
    Government outside India6.5%6.9%
    Others17.5%17.0%
  • Share of revenue by service line23
    Itemquarter to Sep 2026quarter to Sep 2025
    AI-led engineering48.9%46.1%
    Data and integration21.2%21.2%
    Cloud15.6%17.1%
    Business process management7.3%7.7%
    Intelligent automation6.9%7.9%

Order book

  • Orders won in the quarter to Sep 2026 came to $1.04 billion, against $514 million a year earlier; the executable order book (signed work expected to turn into revenue over the next 12 months) was $2.38 billion, up 45.4% from a year earlier.2425
  • In the year to Mar 2026 it signed 21 deals it classes as large, and orders won totalled $2.26 billion.26

Customers and partners

  • In the quarter to Sep 2026, the 5 largest clients gave 18.1% of revenue and the 10 largest 26.4%; repeat business (revenue from existing clients) was 95.5%.27
  • Number of clients by client engagement size28
    Itemquarter to Sep 2026
    More than $100 million1
    $50 million to $100 million4
    $20 million to $50 million13
    $10 million to $20 million34
    $5 million to $10 million49
    $1 million to $5 million271

What the company expects

  • In its presentation of 23 Oct 2026, the company said it had raised its consolidated EBIT margin target for the year to Mar 2027 from 15.5% to 16.0%.29
  • On its earnings call of 28 Jul 2026, the company said it expected free cash flow (cash generated after capital spending) of at least 100% of profit after tax in the year to Mar 2027.30
  • The company stated in its annual report for the year to Mar 2026 that, after buying Encora, its run rate (yearly revenue at current pace) for the year to Mar 2027 was about $2.5 billion, about $2 billion from AI-led engineering, cloud and data services.31

Recent events

  • On 24 Jul 2026 it announced a five-year contract worth more than $230 million for AI-led transformation work with a client in Europe.32
  • On 23 Jul 2026 it launched Coforge Nuuron, an AI operating system meant to help enterprises deploy AI agents at scale with governance and control.33
  • On 23 Apr 2026, on completing the Encora purchase, it took a three-year loan of $550 million at a fixed 4.6% a year from international lenders to repay Encora's debt, instead of selling new shares to institutions.34
  • On 25 Feb 2026 it announced a five-year contract worth $158 million with a UK client, with revenue spread evenly over the 5 years.35

Litigation and regulatory matters

  • As of its annual report of 2 Aug 2026, Coforge and Coforge Inc. faced a proposed class action over a customer's security incident; the complaint alleges attackers misled help-desk staff it supplied into resetting passwords, and it disputes the complaint's account of its role.36
  • Coforge recorded ₹445 million of legal costs for its litigation with a customer in the year to Mar 2026, shown as a one-off item, and says the class action has had no meaningful impact on revenue from that client.3738

Last updated

All 38 sources, each with its page
  1. 1. Annual report, 2 Aug 2026, page 61
  2. 2. Annual report, 2 Aug 2026, page 53
  3. 3. Annual report, 2 Aug 2026, page 7
  4. 4. Annual report, 2 Aug 2026, page 5
  5. 5. Investor presentation, 23 Oct 2026, page 7
  6. 6. Annual report, 2 Aug 2026, page 8
  7. 7. Annual report, 2 Aug 2026, page 4
  8. 8. Annual report, 2 Aug 2026, page 166
  9. 9. Annual report, 2 Aug 2026, page 148
  10. 10. Annual report, 2 Aug 2026, page 56
  11. 11. Annual report, 2 Aug 2026, page 173
  12. 12. Annual report, 2 Aug 2026, page 6
  13. 13. Annual report, 2 Aug 2026, page 173
  14. 14. Annual report, 2 Aug 2026, page 152
  15. 15. Annual report, 2 Aug 2026, page 14
  16. 16. Investor presentation, 23 Oct 2026, page 4
  17. 17. Annual report, 2 Aug 2026, page 173
  18. 18. Annual report, 2 Aug 2026, page 7
  19. 19. Annual report, 2 Aug 2026, page 14
  20. 20. Annual report, 2 Aug 2026, page 11
  21. 21. Investor presentation, 23 Oct 2026, page 12
  22. 22. Investor presentation, 23 Oct 2026, page 12
  23. 23. Investor presentation, 23 Oct 2026, page 12
  24. 24. Investor presentation, 23 Oct 2026, page 6
  25. 25. Investor presentation, 23 Oct 2026, page 12
  26. 26. Annual report, 2 Aug 2026, page 7
  27. 27. Investor presentation, 23 Oct 2026, page 6
  28. 28. Investor presentation, 23 Oct 2026, page 13
  29. 29. Investor presentation, 23 Oct 2026, page 4
  30. 30. Earnings call, 28 Jul 2026, page 10
  31. 31. Annual report, 2 Aug 2026, page 5
  32. 32. Exchange filing, 24 Jul 2026, page 2
  33. 33. Exchange filing, 23 Jul 2026, page 2
  34. 34. Annual report, 2 Aug 2026, page 14
  35. 35. Exchange filing, 25 Feb 2026, page 2
  36. 36. Annual report, 2 Aug 2026, page 168
  37. 37. Annual report, 2 Aug 2026, page 158
  38. 38. Annual report, 2 Aug 2026, page 128

Results

Consolidated; ₹ crore.Coforge quarterly results

Revenue growth, 12 months
+41.2%
Net profit growth, 12 months
+68.0%

Quarter to Sep 2026, against the quarter before

Revenue
₹6,171 Crup 11.63%
Net profit
₹605 Crup 13.77%
Net margin
9.8%

Revenue by quarter

₹3,318 CrDec 24₹3,410 CrMar 25₹3,689 CrJun 25₹3,986 CrSep 25₹4,188 CrDec 25₹4,450 CrMar 26₹5,528 CrJun 26₹6,171 CrSep 26

Net profit by quarter, a loss in red

₹256 CrDec 24₹307 CrMar 25₹356 CrJun 25₹425 CrSep 25₹297 CrDec 25₹666 CrMar 26₹532 CrJun 26₹605 CrSep 26

The quarters either side of a change of basis do not compare. From the quarter to Mar 2025, the company's revenue for the year to Mar 2025, ₹12,051 Cr, differs from its quarters added, ₹12,191 Cr. From the quarter to Jun 2025, the company reports a discontinued business.

₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue3,3183,4103,6893,9864,1884,4505,5286,171
Net profit256307356425297666532605
Net margin7.7%9.0%–10.7%7.1%15.0%9.6%9.8%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share. Net margin is left blank for Jun 2025: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

Business segments

Share of revenue, year to Mar 2025, consolidated.Segment revenue and profit

  • America₹6,609 Cr54.8%
  • Europe,Middle East and Africa₹4,053 Cr33.6%
  • Asia Pacific₹859 Cr7.1%
  • India₹530 Cr4.4%

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2025: days before it are of the company before the change.Coforge PE ratio and valuation

Price to earnings

At or below today's level on 64% of 2,093 trading days over the last 10 years.

LowestHighest
Its median31.80Industry median16.65
Price to book

At or below today's level on 9% of 1,767 trading days since Oct 2018.

LowestHighest
Its median8.38Industry median2.55
Dividend yield

At or below today's level on 9% of 2,407 trading days over the last 10 years.

LowestHighest
Its median1.20%Industry median1.66%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−30.2%+90.8%−64.0%1.1%
3 years+14.6%+26.8%−10.5%1.1%
5 years+15.0%+25.5%−9.3%1.2%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1 year is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count. Earnings growth over 1, 3 and 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2026.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026. The company has no promoter group.Coforge shareholding pattern

Shareholding by group

  • Foreign institutions24.76%
  • Indian institutions43.79%
  • Individuals and others31.46%
Holder
AI ALTIUS PARENT (CAYMAN) LIMITEDForeign companies12.84%
ENCORA HOLDCO LIMITEDForeign companies8.33%
LIC I NEW PENSION PLUS GROWTH FUNDInsurance companies2.83%
HDFC LIFE INSURANCE COMPANY LIMITEDInsurance companies1.64%
SBI LIFE INSURANCE CO. LTDInsurance companies1.63%
NPS TR AC ICICI PENSION FUND SCHEME E - TIER IProvident and pension funds1.24%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: foreign institutions +0.45 pts, Indian institutions +1.17 pts, mutual funds +2.13 pts.

The filing reports 9,37,96,508 of its 44,30,38,622 shares locked in.

Mutual fund holdings

334 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 116 of the 203 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 3 more funds filed their first portfolio on record, holding it.All 334 funds holding Coforge

Bought for the first time
5
Bought again
8
Added
88
Cut
115
Held unchanged
115
Sold out
26
Fund
HDFC Mutual Fund logoHDFC Mid Cap FundHDFC Mutual Fund1,56,20,6002.68%₹2,732.2 Cr
Motilal Oswal Mutual Fund logoMotilal Oswal Midcap FundMotilal Oswal Mutual Fund1,24,88,9265.43%₹2,184.4 Cr
SBI Mutual Fund logoSBI Aggressive Hybrid FundSBI Mutual Fund90,00,0001.83%₹1,574.2 Cr
UTI Mutual Fund logoUTI Flexi Cap FundUTI Mutual Fund48,47,7503.77%₹847.9 Cr
DSP Mutual Fund logoDSP Midcap FundDSP Mutual Fund45,39,4224.07%₹794.0 Cr
Kotak Mahindra Mutual Fund logoKotak Arbitrage FundKotak Mahindra Mutual Fund33,51,6000.78%₹586.2 Cr
Motilal Oswal Mutual Fund logoMotilal Oswal Flexi cap FundMotilal Oswal Mutual Fund33,50,0004.36%₹585.9 Cr
Axis Mutual Fund logoAxis Midcap FundAxis Mutual Fund29,21,0711.52%₹510.9 Cr
ICICI Prudential Mutual Fund logoICICI Prudential Technology FundICICI Prudential Mutual Fund28,03,1753.92%₹490.3 Cr
SBI Mutual Fund logoSBI Flexicap FundSBI Mutual Fund26,03,5002.06%₹455.4 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 30 Oct 2025.Coforge insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Others: no market trade · 6 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Coforge competitors and peers

Computers - Software & Consulting, 99 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Coforge in market cap.IT companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Wipro logoWiproWIPRO1,88,29914.292.38+8.2%−2.4%16.0%15.9%4.21%
Tech Mahindra logoTech MahindraTECHM1,73,44931.435.85+13.6%+23.7%19.3%26.7%2.88%
LTM logoLTMLTM1,21,45823.244.69+14.7%+7.4%21.2%27.3%1.90%
Persistent Systems logoPersistent SystemsPERSISTENT97,51054.07–+27.1%+8.3%22.9%27.2%0.68%
MphasiS logoMphasiSMPHASIS48,90825.604.55+13.7%+9.8%18.8%19.9%2.42%
Hexaware Technologies logoHexaware TechnologiesHEXT32,90023.434.90+13.5%+0.6%22.4%25.9%3.34%
Tata Elxsi logoTata ElxsiTATAELXSI23,70135.378.14+10.0%−0.1%23.9%28.2%1.97%
KPIT Technologies logoKPIT TechnologiesKPITTECH14,90527.904.04+9.2%−30.9%15.4%20.9%1.38%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Coforge dividend history

Dividend per share, ₹, restated for later splits and bonuses

3Mar 18Mar 196.2Mar 202.6Mar 2110Mar 2213Mar 2315Mar 2415Mar 2512Mar 264Mar 27so far
Highest ₹15.20 a share, years to Mar 2024 and Mar 2025.
Ex-dateTypePer share
3 Aug 2026Interim₹4.00
30 Jan 2026Interim₹4.00
31 Oct 2025Interim₹4.00
31 Jul 2025Interim₹4.00
9 May 2025Interim₹19.00
30 Jan 2025Interim₹19.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Coforge announcements

Coforge share price by year

Each calendar year to 2025.Coforge share price history

YearClose at year endChangeHighest closeLowest close
20251,663.00−13.9%1,977.901,263.33
20241,932.59+54.0%1,963.59860.36
20231,254.88+61.5%1,288.22719.61
2022776.82−34.1%1,221.08646.76
20211,178.07+117.7%1,178.07478.56
2020541.03+70.2%559.50172.84
2019317.97+38.3%321.84224.54
2018229.86+78.2%281.34128.51
2017129.01+51.9%135.3981.72
201684.94−26.7%116.1078.24
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 20261,939.001,977.801,903.801,961.901,943.3622,00,01144.8%
27 Oct 20261,979.002,008.801,953.001,997.001,974.5937,97,86156.1%
26 Oct 20261,844.201,997.601,812.201,993.001,932.6448,23,89439.9%
23 Oct 20261,925.001,992.401,890.001,900.501,928.1235,41,63643.9%
22 Oct 20261,955.001,986.601,900.301,908.801,945.5235,15,72953.7%
21 Oct 20261,937.601,969.001,931.101,951.001,953.5420,42,27547.1%
19 Oct 20261,951.001,964.701,916.401,925.001,935.3413,09,63841.8%
16 Oct 20261,942.001,951.901,900.601,951.901,930.6720,71,56942.5%
15 Oct 20261,948.201,970.001,924.701,934.301,937.9926,18,69350.8%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history

Ex-dateEventPrice factorWhat happened
4 Jun 2025Split0.2000Each share became 5.
23 Mar 2020Price move–Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for.
22 Jan 2008Price move–Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for.
21 Jan 2008Price move–Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for.
30 Aug 2007Bonus0.6667Holders received 1 bonus share for every 2 held.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details

Chief executive
Sudhir Singh
At the end of the quarter to Sep 2026
Chairperson
Akhil Kumar Gupta
At the end of the quarter to Sep 2026
NSE symbol
COFORGE
BSE code
532541
ISIN
INE591G01025
Industry
IT - Software
Former symbols
NIITTECH
CIN
L72100HR1992PLC128382
Corporate identity number, the registrar of companies' code for it
Incorporated
1992
Registered office
Plot No. 13, Udyog Vihar, Phase-IV, Sector-18, Palam Road, Gurugram 122015, Haryana
Share registrar
Alankit Assignments Ltd
Keeps the register of shareholders and handles transfers and dividend payments