Coforge edges past Mphasis to be seventh-largest IT firm

Coforge jumps three spots in less than a year, reports $442 mn in revenue in June quarter

- Jas Bardia

Coforge Ltd is now the country's seventh-largest software services outsourcer by revenue as it topped Mphasis Ltd, reflecting the competition and churn in India's mid-sized information technology segment.

Noida-based Coforge, formerly NIIT Technologies Ltd, reported $442 million in revenue for the three months ended June 2025, growing 9.6% sequentially. Bengaluru-based Mphasis's revenue rose 1.6% to $437 million during the first quarter.

Coforge has jumped three spots in less than a year. It nudged ahead of Persistent Systems Ltd in September 2024, and overtook Hexaware Technologies Ltd in December. Growth has slowed for Pune-based Persistent and Mphasis due to client and sector-specific concerns.

This is the fifth instance of a change in the pecking order in the country's $283-billion IT industry in less than two years, a period also marked by global uncertainties and caution among clients. Many of the changes in ranking involved mid-cap IT firms.