Coforge Revenue History — Quarter by Quarter

Coforge's revenue moved from ₹2,221 Cr in Q1 FY24 to ₹4,450 Cr in Q4 FY26, a 100.4% change over 12 quarters. The table keeps each quarter linked back to the underlying earnings page.

Revenue by Quarter

Quarter	Revenue (₹ Cr)	YoY Change
Q4 FY26	₹4,450 Cr	+29.2%
Q3 FY26	₹4,232 Cr	+23%
Q2 FY26	₹3,986 Cr	—
Q1 FY26	₹3,689 Cr	—
Q4 FY25	₹3,422 Cr	+33.8%
Q3 FY25	₹3,258 Cr	+42.8%
Q2 FY25	₹3,026 Cr	—
Q1 FY25	₹2,357 Cr	—
Q4 FY24	₹2,318 Cr	—
Q3 FY24	₹2,323 Cr	—
Q2 FY24	₹2,276 Cr	+16.2%
Q1 FY24	₹2,221 Cr	—

What management said about revenue

Q4 FY26 · Q1 FY27 Revenue Flattish QoQ Due to India Business Exit

Revenue in Q1 FY27 expected to be flattish sequentially due to discontinuation of ~$20M low-margin India business, with growth resuming from Q2.

Q3 FY26 · Exceptional FY27 growth

Management expects FY27 to be an exceptional year, with continued robust growth driven by large deal pipeline and key account momentum.

Q2 FY26 · H2 FY26 growth to be robust

Management expects H2 to be a growth half over H1, with Q4 traditionally the strongest quarter, supported by pipeline and deal momentum.

Q2 FY26 · Healthcare vertical to approach $100M run rate

Healthcare book of business expected to be near $100 million by end of FY26, with potential separate reporting from Q1 FY27.

Q1 FY26 · At least 20 large deals in FY26

The company aims to close at least 20 large deals in the current fiscal year, up from 14 in the prior year.

Q1 FY26 · H2 growth stronger than H1

Management expects second half revenue growth to be much stronger than first half due to large deal ramp-ups.

Q4 FY25 · Very strong growth in FY26

Management expects robust revenue growth in FY26, with organic growth not slowing vs FY25.

Q4 FY25 · FY27 target: $2B revenue, 18% reported EBITDA

Reiterated medium-term targets; management aims to achieve $2B revenue sooner than FY27.

Q3 FY25 · ESOP cost to decline to ~100 bps of revenue by Q3 FY26

ESOP cost is expected to reduce from current ~210 bps to ~150 bps by Q1 FY26 and further to ~100 bps by Q3 FY26, providing margin tailwinds.

Q3 FY25 · Sustained robust growth expected in coming year

CEO Sudhir Singh expressed confidence in continued robust and sustained growth, citing strong order book, pipeline, and broad-based demand.

Q2 FY25 · Medium-term revenue target of $2B with concurrent margin expansion

Management reiterated its medium-term guidance of reaching $2B in revenue while delivering material EBITDA margin expansion.

Q1 FY25 · Cigniti revenue growth to outpace Coforge

CEO stated that Cigniti will grow faster than Coforge in coming quarters, supported by new verticals and cross-sell initiatives.