![How stock market darling Coforge went from laggard to industry-beating growth](https://www.livemint.com/lm-img/img/2024/11/27/1600x900/Long_1732712205455_1732714611158.jpg)
How stock market darling Coforge went from laggard to industry-beating growth
Live MintIn 2017, when Sudhir Singh joined NIIT Technologies, the first thing he did as CEO was to change the entire top leadership—lock, stock and barrel. As Gaurav Vasu, CEO of UnearthInsight, a Bengaluru-based consultancy, put it, “While banking and financial services are Coforge’s strength, at $1.1 billion-plus, it faces challenges competing with larger IT firms for mega-deals." Echoing that view, Joel Martin, executive research leader of global business research consultancy HFS Research, said, “As a mid-sized firm, Coforge’s leadership will need to constantly navigate challenges in scaling operations compared to its larger competitors, who have more resources." Coforge has done well since being spun out from NIIT Technologies in 2020, after Baring acquired a controlling stake in the company —Pranati Dave “Coforge has done well since being spun out from NIIT Technologies in 2020, after Baring acquired a controlling stake in the company," said Pranati Dave, practice director at Everest Group, a provider of research insights in technology services. “This transition marked a strategic shift for Coforge, allowing it to focus on its IT services and solutions without the constraints of its former parent company," Dave added.
History of this topic
![Coforge Q1 FY24 results: profit rise by 10.42% YOY](https://www.livemint.com/lm-img/img/2023/05/04/1600x900/The-Bombay-Stock-Exchange-in-Mumbai---Bloomberg-Ph_1683200468247_1683200494396.jpg)
Coforge Q1 FY24 results: profit rise by 10.42% YOY
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