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Today's prices ask more of Infosys than of Coforge.
At current prices, buyers of Coforge are assuming about 14% growth against 28% in its own record; for Infosys it is 0% against 8%. That shows which share needs more to go right — not which is cheaper. How far each trades from its estimated fair value is in the full valuations.
- Valuation method: both on discounted cash flow.
- Size: Infosys is worth about 5.1 times Coforge on the stock market.
- Record: Coforge has grown revenue faster: Coforge compounded at about 24% a year (FY2018–FY2026) and Infosys at about 12% (FY2019–FY2026).
- What to watch: deal wins at Coforge; large deal wins at Infosys.
| Coforge | Infosys | |
|---|---|---|
| Price | ₹2,028 | ₹1,142 |
| Market cap | ₹0.90L Cr | ₹4.63L Cr |
| P/E | 46.6 | 15.0 |
| P/B | 9.42 | 4.98 |
| Fair value 🔒 sign in | ₹0,000 | ₹0,000 |
| Upside 🔒 sign in | +00% | +00% |
| Valued on | Discounted cash flow | Discounted cash flow |
01Two businesses
From NIIT Technologies to Coforge
Coforge was known as NIIT Technologies until 2020, when private-equity owner Baring renamed it. It provides IT services to banks, insurers and travel and transport companies, mainly in the US and Europe.
What Infosys sells, and to whom
Infosys, founded in Pune in 1981 by N. R. Narayana Murthy and six co-founders and now based in Bengaluru, is India's second-largest IT services company. It runs digital transformation, cloud, data and AI programmes for large companies, mainly in North America and Europe, and owns Finacle, a core-banking platform used by banks worldwide.
02The records side by side
Coforge has grown revenue faster: Coforge compounded at about 24% a year (FY2018–FY2026) and Infosys at about 12% (FY2019–FY2026). By revenue, Infosys is about 10.9 times the size of Coforge. Coforge kept 10.6% of revenue as net profit in FY2026; Infosys kept 16.5% of revenue as net profit in FY2026.
Full ten-year tables and charts are on each company's page: Coforge · Infosys.
03What each price assumes
Work backwards from each share price and you can see what buyers are taking for granted — the rate each company must sustain to justify what it costs, against what its own record supports.
04What decides each one's value
- Deal winsLarge contracts sustain fast growth.
- Acquisition integrationBought companies need to grow profitably.
- Large deal winsBig multi-year contracts give visibility, but they often start at lower margins.
- Operating marginWage increases and pricing pressure can push margins below the company's own target range.
05What could go wrong
- IntegrationAcquisitions can dilute margins.
- Client concentrationA few large clients matter a lot.
- Financial-services concentrationBanks are its largest client group, so a banking slowdown hits Infosys first.
- AI deflationAutomation could shrink the hours clients pay for faster than new AI work replaces them.
06Which is better value?
Sign in free to see which trades further below its worth
- ✓Both fair values per share — each on the method that fits the business
- ✓Every step of both workings — growth, margins and cost of capital, with sources
- ✓Bull, base and bear cases — for each company
- ✓Downloadable reports — the full write-up for each, yours to keep
08Questions people ask
Is Coforge or Infosys better value?
That turns on how far each share trades from its estimated fair value. Both figures, with every step of the working, are in the full valuations, free to view once you sign in. On the public numbers, Coforge trades at 46.6 times earnings and 9.42 times book value, and Infosys at 15.0 times earnings and 4.98 times book value — but multiples alone mislead when two businesses work differently, which is why each is valued on the method that fits it.
What is the difference between Coforge and Infosys?
Coforge was known as NIIT Technologies until 2020, when private-equity owner Baring renamed it. Infosys, founded in Pune in 1981 by N.
Are Coforge and Infosys valued the same way?
Yes — both on discounted cash flow, so their workings compare like for like.
What does today's price assume for Coforge and Infosys?
Worked backwards from the share price, Coforge needs about 14% growth and Infosys about 0% growth, against 28% and 8% in their own records.