# Coforge’s strong order book and execution point to better margins and growth — retained record

> Retained news record from news:india-et-markets.

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source: [news](https://highsignal.app/data/news) (news:india-et-markets)  published 2026-09-02 01:53 ingested 2026-09-02 02:58

[original source ↗](https://economictimes.indiatimes.com/markets/stocks/news/coforges-strong-order-book-and-execution-point-to-better-margins-and-growth/articleshow/133695123.cms)

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Read more: Global bond yields surge as debt and inflation risks mount
The company's margin profile has improved over the past few quarters aided by rising revenue quality in terms of the use of new technologies including artificial intelligence (AI). In the June quarter, 86% of revenue was from AI-led engineering, integration, and cloud services. The operating margin (EBIT margin) expanded by 414 basis points year-on-year to 16%. The margin is likely to stay upbeat since company-wide salary increases are not expected until the fourth quarter of the current fiscal year.
For the June quarter, revenue grew by 24.2% sequentially to ₹5,527 crore, helped by the integration of recently acquired Encora. Net profit dropped 15.3% to ₹518.6 crore on account of higher depreciation, amortisation and interest outgo.
Given a higher revenue visibility, analysts have raised earnings forecasts and target prices for the stock. JM Financial has revised the earnings per share (EPS) estimate for FY27-29 by 6-9% after incorporating the June quarter performance and Encora's integration. It has also increased the FY28 forward price-earnings (P/E) multiple to 25 from 24, raising the target price to ₹1,795 from ₹1,610.
Axis Securities has catapulted the FY28 forward P/E multiple to 30 from 26, implying a higher price target of ₹2,275 from earlier ₹1,690. The stock ended Tuesday's session at ₹1,983 on the BSE.
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