India’s Coforge posts strong quarterly growth on Encora integration, deal momentum

Oct 23 (Reuters) – Indian IT services provider Coforge posted a 53.6% rise in second-quarter revenue on Friday, helped by a full-quarter contribution from acquired engineering-services company Encora and demand for AI-led engineering, data and cloud services.

• Consolidated revenue from operations rose to 61.71 billion rupees ($649.99 million) in the quarter ended September 30, from 40.16 billion rupees a year earlier

• Consolidated net profit rose 56.5% year-on-year to 5.88 billion rupees from 3.76 billion rupees

• Indian IT firms are competing for large outsourcing and technology-transformation contracts as clients seek higher productivity from AI

• This comes even as concerns rise about AI’s impact on traditional labour-intensive work

• Coforge, which derives over 60% of its revenue from North and South America, announced its $2.35 billion acquisition of AI firm Encora in December 2025

• The acquisition would bolster Coforge’s scale and capabilities in the US and Latin American markets, according to the firm

• Coforge’s order intake for the quarter rose to $1.04 billion from $514 million a year ago

• The company, whose clients include Etihad Airways and fintech firm SEI Investments, said its top 10 customers accounted for 26.4% of second-quarter revenue

($1 = 94.9400 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru; Editing by Janane Venkatraman)