Encora provides digital engineering services including software product engineering, cloud services, data science, and quality engineering to help organizations transform their technology. It uses nearshore and offshore delivery in Latin America and India to offer cost-efficient software development and IT consulting for financial services, healthcare, retail, and technology. Projects are carried out by specialized engineering teams that design, build, test, deploy software, migrate and manage cloud environments, and create data-driven solutions with a strong emphasis on quality. The company differentiates itself through a scalable global delivery model and large talent pools in its hubs, supported by Advent International to drive growth, with the goal of helping clients achieve rapid, cost-efficient digital progress.
Company Size
5,001-10,000
Company Stage
Acquired
Total Funding
$215M
Headquarters
Scottsdale, Arizona
Founded
2003
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Coforge Chairman's resignation not A red flag, says CLSA; retains bullish stance - check target price. CLSA remains focused on the company's operating outlook, particularly the potential for revenue synergies from its Encora acquisition. Read Time: 2 mins Coforge's chairman resignation may have triggered a sharp reaction in the stock yesterday, but CLSA does not view the development as a major governance red flag, retaining its High Conviction Outperform rating and a target price of Rs 2,170, implying about 11% upside from the levels cited in its report. Coforge Chairman and Non-Executive Independent Director OP Bhatt resigned with immediate effect on September 8, after an internal audit raised concerns over the handling and disclosure of information in the company's board evaluation report. Coforge subsequently clarified that the issues related to the board evaluation exercise and did not involve financial statements, financial reporting or the company's business operations. It also said the matter had no bearing on its near-, medium- or long-term business guidance. CLSA's assessment pointed to Coforge's governance framework and the increase in the proportion of independent directors since FY24. It also noted that the company's books are subject to scrutiny from its current and previous private-equity investors, as well as KPMG, its internal auditor, according to the report. The brokerage also highlighted what it described as a proactive exchange filing by Coforge management following the resignation and said it had seen no major governance lapses relating to financial reporting or business operations. The development comes shortly after shareholders rejected Bhatt's proposed reappointment for another five-year term at Coforge's August annual general meeting. His existing term was originally due to expire in April 2027. Meanwhile, the market reaction has been sharper. Coforge shares fell as much as 8.67% to Rs 1,780.10 on September 9, before paring some losses. CLSA remains focused on the company's operating outlook, particularly the potential for revenue synergies from its Encora acquisition. Its estimates show revenue rising from Rs 16,238.3 crore in FY26 to Rs 24,549 crore in FY27, with net profit projected at Rs 2,672 crore. Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories - On NDTV Profit.
Coforge is a global digital services and solutions provider that combines AI engineering with deep industry expertise to deliver real world business impact for leading enterprises.
Hitachi appoints anand Birje as CEO of Digital Engineering & AI Business Unit. Prior to his appointment, Birje served as Chief Executive Officer and Board Member at Encora Inc. Anand Birje has been appointed CEO of Hitachi's Digital Engineering and AI Business Unit. Before joining Hitachi, Birje served as Chief Executive Officer and Board Member at Encora Inc., a digital engineering and operations services company. Prior to that, he spent nearly two decades at HCL Technologies, where he last served as President - Digital Business Services before stepping down in May 2023. Over the course of his career, Birje has also been associated with the World Economic Forum, adding to his extensive leadership experience in digital transformation and technology.
Coforge has reported strong third-quarter results, with net profit rising 71.2% year-on-year to ₹364 crores and consolidated revenues increasing 28.5% to ₹4,188 crores. The company secured orders worth $593 million during the quarter, with its executable order book standing at $1.72 billion. The results follow Coforge's $2.35 billion acquisition of Encora through a share swap deal. Encora's shareholders will receive approximately 20% of the combined entity's stock. The acquisition is expected to make Coforge India's seventh-largest IT firm upon closing in six months. Coforge's total debt stands at ₹2,925 crores as of December 2025 and plans to raise up to ₹5,000 crores through bridge loans or qualified institutional placement to retire Encora's liabilities. The company announced a ₹4 interim dividend per share.
Coforge inks $2.35 bn deal to acquire Encora; contrasting outcomes for Advent, Warburg Pincus. Indian IT services provider Coforge said Friday it has signed a definitive agreement to acquire Encora, a United States-based firm that provides artificial intelligence (AI)-driven engineering services, from private equity groups Advent International and Warburg Pincus at an enterprise value of $2.35 billion. Under the deal structure, Coforge will fund the acquisition...