Coforge Share Price: 25.9% CAGR in 3 Years as the Noida IT Firm Pulls Ahead of Persistent and Mphasis
- November 10, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Coforge Share Price: 25.9% CAGR in 3 Years as the Noida IT Firm Pulls Ahead of Persistent and Mphasis
Coforge previous close Rs 2,047. 3-year CAGR 25.9%. Up 2.0x since 9 Nov 2023. ROE 9.80%. Market cap Rs 90,739 crore.
Quick Answer
The Coforge share price closed at Rs 2,047 on 9 November 2026, a compounded annual return of 25.9% over three years. That compares with Persistent Systems at 24.1% and Mphasis at 3.8%. The company has a market cap of Rs 90,739 crore and a P/E of 43.22 against an industry P/E of 19.36.
The Coforge share price has doubled in three years, which makes Coforge one of the better performers among mid-sized Indian IT companies. The Noida-headquartered firm, formerly known as NIIT Technologies, has built its business around large, long-running contracts with global clients.
This article compares that run with Persistent Systems and Mphasis. We calculate the three-year CAGR for all three and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions, so that readers get a like-for-like view.
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How Much Has the Coforge Share Price Returned in 3 Years?
The Coforge stock closed at Rs 1,025.62 on 9 November 2023 and at Rs 2,047.00 on 9 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 2.00 lakh, which is a CAGR of 25.9%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Coforge can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The Coforge share price has also been supported by demand for cloud, data and engineering work from clients in travel, banking and insurance, which are areas where the company has built deep domain skills.
Coforge vs Persistent Systems and Mphasis: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 9 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 9 November 2026.
| Company | Close on 9 Nov 2023 | Previous close (9 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| Coforge | Rs 1,025.62 | Rs 2,047.00 | 2.0x | 25.9% |
| Persistent Systems | Rs 3,159.85 | Rs 6,040.00 | 1.9x | 24.1% |
| Mphasis | Rs 2,193.65 | Rs 2,455.00 | 1.1x | 3.8% |
The Coforge stock leads the group at 25.9%, followed by Persistent Systems at 24.1% and Mphasis at 3.8%. Coforge leads the group, with Persistent Systems close behind and Mphasis a long way back. Coforge is smaller than Persistent by market cap but larger than Mphasis, so it holds the middle position on size.
Look at the Coforge share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| Persistent Systems | Rs 1,00,063 crore | 55.49 | 19.36 | 20.99% | 0.07 |
| Coforge | Rs 90,739 crore | 43.22 | 19.36 | 9.80% | 0.27 |
| Mphasis | Rs 46,675 crore | 23.31 | 19.36 | 18.55% | 0.30 |
By market cap, Persistent Systems is the largest of the group at Rs 1,00,063 crore, while the Coforge stock stands at Rs 90,739 crore, about 91% of that size. On earnings, Coforge shares trade at a P/E of 43.22 against an industry P/E of 19.36, a premium of about 123%, which signals that the market expects faster earnings growth. Peer multiples are Persistent Systems at 55.49 and Mphasis at 23.31.
Return on equity is 9.80% for the Coforge stock, which ranks third among the three, and debt to equity stands at 0.27. Trailing EPS is Rs 47.39. IT valuations lean heavily on expected earnings growth, so the multiple should be read next to return on equity and the quality of the order pipeline.
What Is Driving the Coforge Stock?
Coforge provides IT services and digital engineering to clients in travel and hospitality, banking and financial services and insurance. Clients tend to sign multi-year contracts, which supports revenue visibility.
The company has grown by winning larger deals and by adding capabilities in cloud, data and automation. Acquisitions have also widened its reach, although integration work can influence margins for a few quarters.
Followers of the Coforge share price usually track the size of the order book, deal conversion, margins and the health of its travel and financial services clients.
How the Established Players Stack Up
Persistent Systems is a Pune-based software product engineering firm that serves banking, healthcare and technology clients. It compounded at 24.1% a year, on a market cap of Rs 1,00,063 crore and an ROE of 20.99%.
Mphasis is a Bengaluru-based IT services company with a strong focus on banking and financial services clients. It compounded at 3.8% a year, on a market cap of Rs 46,675 crore and an ROE of 18.55%.
What Should Investors Track Next?
Three things are worth watching on the Coforge share price. First, the next set of large deal announcements. Second, margin movement as acquisitions are absorbed. Third, the tone of client spending in travel and financial services.
At a P/E of 43, expectations are meaningful, and its ROE of 9.80% is the lowest of the three. Compare earnings growth with the multiple before drawing a conclusion.
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How to Compare IT Stocks Yourself
You can repeat this exercise for any pair of stocks, including the Coforge stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Coforge share price, the same four checks give a more complete picture than price alone.
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The Group Leader on Returns, With a Moderate ROE
The Coforge share price compounded at 25.9% a year over three years, ahead of Persistent Systems at 24.1% and Mphasis at 3.8%. Its debt to equity of 0.27 is modest.
Persistent Systems brings a stronger ROE, while Mphasis offers a lower multiple with a smaller return. The choice depends on whether you prioritise growth, quality or valuation.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Coforge share price today?
Ans. Coforge closed at Rs 2,047 on 9 November 2026, according to NSE data. It has a market cap of Rs 90,739 crore and a P/E of 43.22. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the Coforge stock?
Ans. Coforge delivered a price CAGR of 25.9% over three years, moving from Rs 1,025.62 on 9 November 2023 to Rs 2,047.00 on 9 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is Coforge better than Persistent Systems?
Ans. Coforge delivered a three-year CAGR of 25.9%, slightly ahead of Persistent Systems at 24.1%. Persistent has the higher ROE at 20.99% against 9.80% for Coforge, and a market cap of Rs 1,00,063 crore. Coforge trades at a P/E of 43.22 against 55.49. The better choice depends on your priorities.
What does Coforge do?
Ans. Coforge, earlier called NIIT Technologies, is a Noida-based IT services and digital engineering company with large clients in travel, banking and insurance.
Is the Coforge stock debt free?
Ans. The debt to equity ratio of the Coforge stock is 0.27 and its return on equity is 9.80%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is Coforge expensive compared with the industry?
Ans. Coforge trades at a P/E of 43.22 against an industry P/E of 19.36. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which IT stock gave the highest return in 3 years?
Ans. Among the companies compared here, Coforge delivered the highest three-year CAGR at 25.9%, followed by Persistent Systems at 24.1%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.
