Coforge Share Price

Coforge Limited is an IT solutions company specialising in application development, cloud computing and outsourcing business processes. Founded in 1992, it is headquartered in Noida. The company was earlier known as NIIT Technologies Limited. In August 2020, it changed its name to Coforge Limited.

The market capitalisation of Coforge Limited is over ₹36,700 crore as of December 29, 2023. Coforge share price has gained over 110% in three years.

Business operations

Coforge Limited caters to various sectors including financial services, insurance, travel, transportation, logistics, manufacturing and distribution. Operating globally, the company serves clients in North and South America, Europe, Middle East, Asia and Australia.

Coforge is a leader in its sector and harnesses cloud, data integration and automation technologies to reshape businesses. Operating across 21 countries, the company has 26 delivery centres spread across nine countries.

The IT company boasts an impressive track record, with over 250 global clients. Coforge operates with a workforce of 23,000 employees and has over 30 sales and delivery offices worldwide.

The company specialises in delivering business solutions tailored to specific industry sectors like banking & financial services, insurance, travel, transport and hospitality.

Its products, solutions and services are backed by partnerships with top-tier software providers like Microsoft, Amazon Web Services (AWS), Google, Appian, Salesforce and Duck Creek.

It has collaborated with Google across the APAC region, enhancing its ability to offer Google Cloud platform-based solutions to its clients. Coforge also achieved accreditation from AWS as a public sector partner, enabling it to tailor cloud-based solutions specifically for customers in government and non-profit sectors on AWS platforms.

Its partnership milestones include attaining the Azure Expert Managed Service Provider tier with Microsoft and initiating a partnership with Sysdig, a leading cloud and container security provider. This collaboration resulted in the launch of the company's container security and monitoring services.

Coforge also formed new alliances with Databricks, a cloud data and AI company, and Newgen, a global low-code digital transformation platform provider.

Subsidiaries of the company include NIIT GIS, NIIT SmartServe, NIIT Technologies Services and NIIT Technologies GmbH in Germany.

In the field of artificial intelligence, Coforge has built its own AI Engine which has been named Quasar Responsible AI. The AI Engine plays a crucial role in detecting and explaining biases within datasets. Coforge is at the forefront of helping companies integrate AI responsible with top security and compliance.

The company acquired Spanish software firm Proyecta Sistemas de Informacion S.A in 2011 for an undisclosed amount. The deal helped Coforge expand to Spanish-speaking countries in South Africa.

The total number of employees in Coforge Limited as of March 31, 2023, was 23,224.

Financial highlights

Coforge Limited's revenue from operations for FY23 stood at ₹8,014.6 crore, up 24.6% from ₹6,432 crore in FY22. The company recorded a net profit of ₹745.1 crore in FY23 against ₹714.7 crore in FY22. In FY23, the earnings before interest, tax, depreciation and amortisation (EBITDA) increased to ₹13,250 crore from the previous year's ₹11,154 crore. The company's earnings per share (EPS) stood at ₹113.77 in FY23 compared to ₹109.02 in the previous financial year.