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12-month executable order book crossed $500 million for 1st time: Coforge CEO

Updated : January 29, 2021 10:49 AM IST

The Q3 order intake at $192 million includes two large deals, said Sudhir Singh, chief executive officer (CEO) of Coforge, on Friday. The IT software and services company reported a steady third quarter, in-line with estimates but margins were marginally under pressure due to selective wage hikes for employees in niche skills.

Speaking in an interview with CNBC-TV18, Singh said, “One of the large deal is a $45 million deal from the insurance space and the other is a $20 million deal from the newly incubated healthcare vertical that we have.”

The 12-month order executable is up 18 percent YoY, he said.

“We are pleased with the order executable, which is the booked orders for the next 12 months; for the first time in firm’s history we crossed $500 million this quarter and importantly booked orders for the next 12 months are 18 percent higher than where they were at the same time last year.”

Our FY21 constant currency revenue growth is seen at a minimum of 6 percent, Singh said.

“At the end of this quarter, year to date, we are already 5.7 percent in constant currency (CC) terms. So should definitely cross 6 percent on the revenue side.”

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