ESOP cost headwind impacting margins
Incremental ESOP cost of ~120bps per quarter in H2 FY25 will pressure reported EBITDA margins.
COFORGE / Q2-FY25 / risks
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Coforge · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
medium
Furloughs in Q3 could impact sequential growth
Management expects normal furloughs in Q3, which could temper the strong sequential growth trajectory.
GCC deal revenue durability risk
Some GCC deals have a build-operate-transfer structure, leading to potential revenue cliff after the initial mandate period.
Integration and past liability risks from Cigniti
While management expects no further past liabilities, integration expenses may persist for a couple of quarters.