Coforge Ltd is a company that ranks ninth among the top constituents of the Nifty IT index by market cap. Coforge Technologies began its journey in 1992 as NIIT Technologies.
Today, it is recognised worldwide for its software services and innovative solutions under its new name—Coforge Ltd.
The company is known for its work with major clients like British Airways and projects with the Indian government, such as “Intranet Prahari” for Border Security.
Today, we will explore the Coforge history.
Coforge History: Key Acquisitions and Transformations Over the Years
Coforge company, originally founded in 1992 as NIIT Technologies Ltd, started as a software services division of NIIT.
In 2006, Coforge made its first major acquisition, taking over a UK-based Insurance Solutions company and also partnered with Adecco SA that same year. By 2008, they signed a multi-million-pound deal with British Airways.
Then came 2012, Coforge got involved in some government projects, including an important initiative called “Intranet Prahari” for the Border Security Force, approved by the Indian Government.
They also helped the Indian Tobacco Board set up an e-auction system in Karnataka and Andhra Pradesh. That same year, Coforge Technologies launched “Crew Wings,” an app designed for airline cabin crew members, and acquired Sabre Holdings’ Philippines Development Center.
In 2018, Coforge expanded further by acquiring a controlling stake in RuleTek, a US-based BPM services company, with Incessant Technologies (Coforge’s digital arm) holding a 55% share.
In 2019, Baring Private Equity Asia took a significant step by purchasing a 30.6% stake in Coforge for ₹2,627 crore and later increased its stake by 35%.
Then, in 2020, NIIT Technologies officially rebranded as Coforge.
This was indeed a new chapter in Coforge Ltd history.
Coforge’s growth continued with the acquisition of a 60% stake in SLK Global Solutions in April 2021 for ₹918 crore. This acquisition boosted the company’s employee count to 21,000, adding 10,000 employees from SLK.
By August 2023, Baring Private Equity Asia sold off its 70% stake in Coforge, completing the divestment through multiple transactions.
In December 2023, the company faced a ₹122 crore income tax demand, which included ₹97.97 crore in tax and ₹23.79 crore in interest. But despite the challenges, Coforge remained on track for growth.
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In May 2024, Coforge made headlines again by announcing the acquisition of a 54% stake in Cigniti Technologies, further expanding its portfolio.
About Coforge Technologies Ltd
Coforge is a digital services and solutions provider that focuses on utilising emerging technologies and deep domain expertise to create real-world business impact for clients. With a global presence in 23 countries and 30 global delivery centres, Coforge India aims to drive digital transformation and sustainability.
Coforge has earned several awards, including being named one of India’s Best Workplaces in IT & IT-BPM 2024 by Great Place to Work.
Coforge company offers a wide range of services, including intelligent automation, AI/ML, quality engineering, and cybersecurity.
Coforge share price: As of Feb 6h, 2025, Coforge is trading on the BSE (Stock Code: 532541) and NSE (Stock Code: COFORGE) at Rs 8586.
Coforge products: AI/ML, intelligent automation, data engineering, cybersecurity, and digital transformation.
Coforge market cap: Coforge has a market capitalisation of ₹57,454 crore as of Feb 6th, 2025
Coforge revenue: Coforge’s revenue for Q3 FY25 reached INR 3,318.2 crore, marking a 40.3% year-on-year increase.
Coforge net worth: ₹57,454 crore as of Feb 6th, 2025
Coforge Capabilities- 8
- Quality Engineering
- Intelligent Automation (including BPS for various industries)
- Process Consulting
- Data Engineering & Management
- Digital Engineering & Experience
- AI/ML & Analytics
- Cybersecurity & Cloud Services
- Data Operations & Anywhere Data Centre
Coforge Industries- 6
| Industry | Sub-categories |
| 1. Banking & Financial Services | – Retail & Corporate Banking- Asset & Wealth Management- Mortgage- Cards & Payments- Risk & Compliance |
| 2. Travel, Transportation & Hospitality | – Airlines- Airports- Travel Tech.- Online Travel Agencies- Logistics and Rail- Hospitality |
| 3. Insurance | – Life & Annuities- Property & Casualty- Lloyd’s & London Market |
| 4. Healthcare & Life Sciences | – Life Sciences- Med Tech- Payers- Providers |
| 5. Retail & Consumer Goods | – Retail- Consumer Packaged Goods (CPG) |
| 6. Government | – Central/Federal Government Departments and Agencies- Local/State Government and Councils- Nonprofit and Community Organizations |
Coforge India Reports Strong Q3 FY25 Results
Coforge revenue reached INR 3,318.2 crore, marking a big 40.3% jump compared to last year.
Their EBITDA (earnings before interest, tax, and depreciation) was INR 519.0 crore, a 29.3% increase from last year, showing how efficiently they’re operating.
What’s even more remarkable is their operating cash flow, which soared by 211%.
Coforge Technologies secured orders worth $501 million in just this quarter. This is the second quarter in a row they’ve brought in over $500 million in orders, which speaks volumes about their growing business.
To top it off, Coforge announced an interim dividend of INR 19 per share,in Dec 2024.
Coforge Ltd ESG Initiatives: Sustainability & Future Goals
Coforge Ltd is deeply committed to Environmental, Social, and Governance (ESG) principles, integrating sustainability into every aspect of its operations. The company aims to reduce its environmental footprint, enhance social impact, and uphold robust governance standards.
- Coforge India aims to achieve carbon neutrality in its operations by 2040, with a target of reducing greenhouse gas emissions by 5% annually.
- Coforge Company has plans to source 10% of i total energy consution from green energy by 25, increasing to 50% by 2040.
- It also intends to incorporate electric vehicles into its employee commute fleet, aiming for 10% by 2025 and 50% by 2040.
- Through the Corge Public Library initiative, the company has impacted over 600,000 beneficiaries, promoting education and Literacy.
- The company upholds a strong code of ethics, ensuring responsible and ethical practices across all functions.
Coforge Ltd: FAQs
Coforge Ltd was previously known as NIIT Technologies Ltd before rebranding in 2020.
Coforge is known for its digital services, intelligent automation, AI/ML solutions, and major projects with global enterprises like British Airways and Indian government initiatives.
As of Feb 6th, 2025, Sudhir Singh is the CEO & Executive Director of Coforge Ltd.
TCS ranks first among the top 10 Nifty IT companies, whereas Coforge ranks ninth based on market cap. While TCS is India’s largest IT services firm, Coforge excels in specialised digital transformation services.
Coforge Ltd offers AI/ML, intelligent automation, cybersecurity, digital engineering, and cloud-based solutions for businesses across industries.
Yes, Coforge is a multinational IT company with a presence in 23 countries and 30 global delivery centres.
Coforge provides IT and digital transformation solutions, specialising in automation, AI, cloud computing, cybersecurity, and business process services.
Source: Screener
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