<p>Bengaluru: Mid-tier IT services firm Coforge, which recently announced it has received all regulatory approvals and statutory clearances in multiple jurisdictions for the acquisition of Encora, is expected to remain one of the fastest-growing IT services firms, according to analysts.</p>.<p>In December last year, Coforge announced the acquisition of Silicon Valley-based AI-native firm Encora for an enterprise value of about Rs 21,100 crore ($2.35 billion). Analysts said the acquisition will expand the West and Midwest US client footprint of the company. </p>.<p class="bodytext">Coforge CEO Sudhir Singh termed the acquisition of Encora as a defining moment for the firm. "This, allied with Coforge's hyper-specialised industry expertise and execution intensity, is likely to further accelerate our industry-leading growth. It also sets us up as the tech services firm that is likely to be the first to deliver upon the promise of the AI-infused future that lies ahead of our industry," Singh said during the company's Q3 conference call.</p>.Coforge gets statutory and regulatory clearances for Encora acquisition.<p class="bodytext">Coforge, which will announce its Q4 FY26 earnings on May 5, will also consider the proposal of the payment of an interim dividend, if any. Motilal Oswal Financial Services said it expects the company to remain one of the fastest-growing IT services companies, with scope for margin recovery in the near term.</p>.<p class="bodytext">"We believe Coforge's strong executable order book and resilient client spending across verticals bode well for its organic business. Cross-sell opportunities in Cigniti remain highly synergistic for the company, and its sales engine remains best-in-class," the brokerage firm said. The company, like its larger peers, has been on an acquisition spree to strengthen its verticals.</p>.<p class="bodytext">In 2024, Coforge announced the acquisition of Cigniti Technologies and said the synergy benefits would propel the company to become a $2-billion firm by FY27. The company has set a $2 billion revenue target for FY27. The firm crossed $1 billion revenue milestone in 2023.</p>.<p class="bodytext">"Coforge crossing the billion-dollar mark is a strong signal of where Indian IT is headed — towards specialised, AI-ready, domain-deep talent rather than generalist scale. The hiring conversation has fundamentally shifted in the last 18 months: enterprises are no longer asking for engineers; they are asking for problem-solvers fluent in GenAI, cloud, data, and a specific industry vertical. Companies that can build this kind of future-ready workforce — through a mix of lateral hiring, targeted leadership additions, and strong internal mobility — will define the next $1 billion and $5 billion stories out of India. Coforge's growth journey is an early indicator of that shift," Anuj Agrawal, Founder and CEO, Zyoin Group, said.</p>.<p class="bodytext">In Q3FY26, Coforge reported revenue of $478 million, up 4.4% sequentially in CC terms. PL Capital said the performance was driven by robust growth in the Healthcare and Hi-Tech segment, which grew 8.7% sequentially, while Insurance and Travel delivered steady growth of 1.4% and 1.7% QoQ, respectively.</p>.<p class="bodytext">Analysts are expecting the company to post strong deal wins in Q4. For the quarter ended December 2025, the IT services firm's deal momentum remained healthy, with Q3 TCV (total contract value) of $593 million (+15.4% QoQ), supported by six large deal wins.</p>.<p class="bodytext">During the company's Q3 conference call, Singh said the six large deals that they have signed in the seasonally weak Q3, the next 12-month signed order book that is 30% higher than where it was at the same time last year, and sustained growth across almost all key and top accounts, have set them up for continued robust growth performance not just in FY2026, but in FY2027 and hopefully beyond.</p>.<p class="bodytext">Apart from deal wins, the company is continuing its strong progress in Agentic AI. "Through our AI assets, we are making engineering faster, smarter, and more resilient, enabling speed-to-market, architectural modernisation, and precision in delivery," Simon Pearson, Global Head, Consulting & Solutions, said during the company's earnings conference call.</p>.<p class="bodytext">Motilal Oswal, in its report, mentioned that Coforge has high exposure to West Asia, with its estimates suggesting that about 5% of revenues are linked to the region.</p>
<p>Bengaluru: Mid-tier IT services firm Coforge, which recently announced it has received all regulatory approvals and statutory clearances in multiple jurisdictions for the acquisition of Encora, is expected to remain one of the fastest-growing IT services firms, according to analysts.</p>.<p>In December last year, Coforge announced the acquisition of Silicon Valley-based AI-native firm Encora for an enterprise value of about Rs 21,100 crore ($2.35 billion). Analysts said the acquisition will expand the West and Midwest US client footprint of the company. </p>.<p class="bodytext">Coforge CEO Sudhir Singh termed the acquisition of Encora as a defining moment for the firm. "This, allied with Coforge's hyper-specialised industry expertise and execution intensity, is likely to further accelerate our industry-leading growth. It also sets us up as the tech services firm that is likely to be the first to deliver upon the promise of the AI-infused future that lies ahead of our industry," Singh said during the company's Q3 conference call.</p>.Coforge gets statutory and regulatory clearances for Encora acquisition.<p class="bodytext">Coforge, which will announce its Q4 FY26 earnings on May 5, will also consider the proposal of the payment of an interim dividend, if any. Motilal Oswal Financial Services said it expects the company to remain one of the fastest-growing IT services companies, with scope for margin recovery in the near term.</p>.<p class="bodytext">"We believe Coforge's strong executable order book and resilient client spending across verticals bode well for its organic business. Cross-sell opportunities in Cigniti remain highly synergistic for the company, and its sales engine remains best-in-class," the brokerage firm said. The company, like its larger peers, has been on an acquisition spree to strengthen its verticals.</p>.<p class="bodytext">In 2024, Coforge announced the acquisition of Cigniti Technologies and said the synergy benefits would propel the company to become a $2-billion firm by FY27. The company has set a $2 billion revenue target for FY27. The firm crossed $1 billion revenue milestone in 2023.</p>.<p class="bodytext">"Coforge crossing the billion-dollar mark is a strong signal of where Indian IT is headed — towards specialised, AI-ready, domain-deep talent rather than generalist scale. The hiring conversation has fundamentally shifted in the last 18 months: enterprises are no longer asking for engineers; they are asking for problem-solvers fluent in GenAI, cloud, data, and a specific industry vertical. Companies that can build this kind of future-ready workforce — through a mix of lateral hiring, targeted leadership additions, and strong internal mobility — will define the next $1 billion and $5 billion stories out of India. Coforge's growth journey is an early indicator of that shift," Anuj Agrawal, Founder and CEO, Zyoin Group, said.</p>.<p class="bodytext">In Q3FY26, Coforge reported revenue of $478 million, up 4.4% sequentially in CC terms. PL Capital said the performance was driven by robust growth in the Healthcare and Hi-Tech segment, which grew 8.7% sequentially, while Insurance and Travel delivered steady growth of 1.4% and 1.7% QoQ, respectively.</p>.<p class="bodytext">Analysts are expecting the company to post strong deal wins in Q4. For the quarter ended December 2025, the IT services firm's deal momentum remained healthy, with Q3 TCV (total contract value) of $593 million (+15.4% QoQ), supported by six large deal wins.</p>.<p class="bodytext">During the company's Q3 conference call, Singh said the six large deals that they have signed in the seasonally weak Q3, the next 12-month signed order book that is 30% higher than where it was at the same time last year, and sustained growth across almost all key and top accounts, have set them up for continued robust growth performance not just in FY2026, but in FY2027 and hopefully beyond.</p>.<p class="bodytext">Apart from deal wins, the company is continuing its strong progress in Agentic AI. "Through our AI assets, we are making engineering faster, smarter, and more resilient, enabling speed-to-market, architectural modernisation, and precision in delivery," Simon Pearson, Global Head, Consulting & Solutions, said during the company's earnings conference call.</p>.<p class="bodytext">Motilal Oswal, in its report, mentioned that Coforge has high exposure to West Asia, with its estimates suggesting that about 5% of revenues are linked to the region.</p>