Prabhudas Lilladher Recommends 'BUY' on Coforge; Sets Rs 2,140 Target

• Prabhudas Lilladher initiates 'BUY' rating for Coforge with a target price of Rs 2,140, implying a 32% upside.
• Coforge achieved approximately 14% organic CAGR over FY20-25, driven by strong traction in BFSI, TTH, and Healthcare sectors.
• The company boasts strong revenue visibility with an executable order book of approximately USD 1.6 billion, covering approximately 80% of revenue.
• Significant deal wins (10 in H1FY26 vs. 14 in FY25) and client pyramid growth reflect sustained mid-teens organic growth.
• Strategic acquisitions like SLK, Cigniti, and Encora bolster client onboarding and scalability, with operating margin projected at approximately 14% medium term.

Why It Matters: Coforge shows strong growth and deal wins; Prabhudas Lilladher recommends 'BUY' with Rs 2,140 target.