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Revenue
₹3,689 Cr
verified against source
Revenue YoY
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reported change
EBITDA
Pending
latest reported figure
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Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Coforge delivered an exceptional Q1 FY26 with 9.6% sequential dollar revenue growth, driven by a 32.3% surge in the Travel vertical and strong deal execution. The company signed five large deals and reported a record executable order book of $1.55 billion, up 46.9% YoY. Management reiterated a path to 14% EBIT margin for FY26, supported by operational leverage and easing of integration costs. The BFS vertical grew 32% YoY despite a marginal sequential dip, and the pipeline remains robust. Risks include macro uncertainty impacting enterprise budgets and potential delays in the Signiti merger closure.
Colored figures show movement against the previous available record.
Guidance to track
- Management reiterated a pathway to 14% reported EBIT margin for the full fiscal year, supported by operational leverage and cost optimization.
- The company aims to close at least 20 large deals in the current fiscal year, up from 14 in the prior year.
- Management expects second half revenue growth to be much stronger than first half due to large deal ramp-ups.
- The merger with Signiti is expected to close by December 2025 or January 2026, with effective date of April 1, 2025.
Risks flagged
- Tariff uncertainties and macro volatility continue to cause oscillation in run-the-enterprise budgets, potentially affecting discretionary spending.
- Ramp-up of the largest deal and increased visa costs, subcontractor expenses, and depreciation weighed on margins in Q1; wage hike in Q3 could pose further headwinds.
- The merger closure depends on regulatory approvals, which could slip beyond the December-January timeline.
- Higher CapEx for the AI data center deal impacted free cash flow; while management expects normalization, sustained asset-heavy deals could strain cash generation.
Key quotes
- We believe that we have established a path to deliver 14% reported EBIT in fiscal year twenty six itself.
- The executable order book stands at a record $1,550,000,000, 46.9 percent higher than at the same time last year.
- We have never ever given up on even one of the big bets that we've undertaken.
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