Coforge To Achieve $2-Billion Revenue Target Faster Than Expected, Says CEO Sudhir Singh

Coforge Ltd. is set to achieve $2 billion in annual revenue sooner than expected, supported by its effective execution of strategies, according to the company’s Chief Executive Officer Sudhir Singh.

The multinational information technology company has clocked a 27.6% rise in second quarter revenue at Rs 3,062 crore compared to Rs 2,400 crore that it earned in the preceding three-month period.

The Noida-based company's net profit rose 67.7% to Rs 234 crore in the quarter ended Sept. 2024 as compared to Rs 139 crore in the first quarter of the current financial year.

Speaking to NDTV Profit about the company’s performance and growth outlook, Singh expressed confidence that Coforge will touch the $2-billion revenue mark faster than anticipated.

“Seven quarters back, Coforge had crossed the $1-billion run rate mark. And seven quarters later, despite what’s happened in the broader macros, we had these numbers almost touching $1.5 billion. That goal ($2 billion) is not just achievable but at a stretch might be achievable faster than what we had envisaged,” he said.

However, Singh did not specify a timeline for achieving the $2-billion revenue target and said, “We haven't put a time frame out there in the market and I would avoid that.”

Comparing Coforge to other companies, the CEO said, “What sets us apart is the execution intensity. It’s not the strategy. The strategy is the same for just about anyone you speak to. Everyone talks about AI, data, cloud and experience. The difference lies in the execution.”

Singh explained that the execution strategy in Coforge has three arms. “There is delivery execution and the quality of that delivery is best exemplified by the fact that our repeat business is 95.5%,” he said.

Highlighting the quality of the company’s execution capabilities, the top executive said, “The approach at Coforge has always been driven by an internal paradigm that we call a ‘big bet’. We do not want to emulate the large caps. We don’t want to be a large equivalent in terms of capability. We call out a few big bets and success there is non-negotiable.”

The third aspect of execution that sets Coforge apart is its sales execution, Singh said. “The Coforge sales engine is not the legacy sales engine of the IT industry. We sell through a client services group concept, not just a sales-only concept,” the CEO noted.

Shares of Coforge closed 11.11% higher at Rs 7,555.45 apiece on the NSE against a decline of 0.15% on the benchmark Nifty 50 on Wednesday.