COFORGE / Q3-FY25 / claim-ledger

Audit the questions that mattered.

Coforge · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ3-FY25 · 2025-01-17Back to quarter ↗

Questions audited

Answered directly

96%

Numeric claims

Consistency

mixed

Question ledger

What was answered, and how?

Saurabh Goel · Morgan Stanley

direct

Demand environment and budget season outlook

There is a definite yet gradual improvement in demand across all sectors that is playing out. ... travel sector continues to show impressive resilience and growth... BFS... demand across multiple micro areas...

Saurabh Goel · Morgan Stanley

partial

Cigniti cross-sell details and pipeline

The specific large deal at Cigniti was a deal that was signed with one of the top five customers of the firm. It involved a limited amount of cross-sell of existing Coforge services.

Abhishek Pathak · Motilal Oswal

direct

Sustaining advantages as Coforge scales to $3B

growth rate increase that has happened of late and that we expect to sustain is being driven through three primary factors: maturing of partnerships, investments like Quasar AI platform, and deep functional expertise.

Abhishek Pathak · Motilal Oswal

direct

Deal win run rate acceleration

The answer is a clear, emphatic yes, looking at the aggregate deal pipeline and looking at the different cuts of that pipeline...

Abhishek Pathak · Motilal Oswal

direct

Impact of California fires on insurance vertical

The California fires are a point in time, even we believe. ... the structural secular change is that in the insurance space, the SMB market is going through transformation...

Vibhor Singhal · Nuvama Equities

direct

GenAI adoption and revenue impact

GenAI... demand from a revenue addressal perspective is increasingly pivoting towards engagements that are more focused only on data... we certainly do not... see GenAI as something that's going to be deflationary from our vantage.

Vibhor Singhal · Nuvama Equities

direct

Travel vertical rebound drivers

The demand is coming from travel platform players, what we internally call travel tech. It continues to be very strong from airlines, and it continues to be very strong from airports...

Vibhor Singhal · Nuvama Equities

direct

ESOP cost impact and margin trajectory

ESOP cost in the current quarter... close to 200 basis points of revenue... will come down to 150 basis points by Q1... EBIT margin should be expanding close to from 11.8% currently... should be hitting roughly 13.5% by Q3 next year.

Aniket Pande · DSP Mutual Fund

direct

Large deal wins by vertical and nature

The first one comes from an asset and wealth management client... second deal comes from the ASEAN region... third one is one of the leading airlines... fourth one is a renewal with an insurance client in North America.

Aniket Pande · DSP Mutual Fund

direct

Furlough impact and reversal

there was 50 basis points impact both in banking and insurance... Next quarter on, we will have that getting reversed. That's why we will see a tailwind on margins as well...

Sandeep Shah · Equirus Securities

direct

GCC deal margin profile and free cash flow impact

The margins are normalized margins as we see in any other deal. ... No impact on free cash flow. These are normal deals like any other normal ramp-up.

Sandeep Shah · Equirus Securities

direct

Adjusted EBITDA margin guidance and debtors increase

We believe that the tailwind that we expect in the next quarter on account of furloughs getting reversed... margins will go up. ... DSO is flat at 60 days, including Cigniti. Without Cigniti, DSO has actually come down from 60 to 57 days.