COFORGE LIMITED

October 26, 2021

==> picture [131 x 37] intentionally omitted <==

The Manager, Department of Corporate Services BSE Limited Floor 25, P.J. Towers, Dalal Street, Mumbai – 400 001 BSE Scrip code – [532541] Non-Convertible Bond ISIN INE591G08012

The General Manager ,

Department of Corporate Services The National Stock Exchange of India Limited

Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra, Mumbai – 400 051 NSE Scrip code – [COFORGE]

– Subject: Newspaper publication Statement of Consolidated and Standalone Results for the Quarter and half year ended 30[th] September 2021

Dear Sir/Ma’am,

We wish to inform you that pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has published the “Statement of Consolidated and Standalone Results for the Quarter and half year ended 30[th] September 2021” in the following newspapers:

a) Business Standard (Hindi)
b) Business Standard (English)

Copy of newspaper clippings are attached.

Kindly take this on record and acknowledge receipt.

Thanking you,

Yours truly,

For Coforge Limited

( Erstwhile NIIT Technologies Limited)

BARKHA Digitally signed by BARKHA SHARMA SHARMA Date: 2021.10.26 12:21:46 +05'30'

Barkha Sharma Company Secretary

Encl: as above

(Erstwhile known as NIIT Technologies Limited) Special Economic Zone, Plot No. TZ-2 & 2A, Sector - Tech Zone, Greater Noida (UP) - 201308, India. Tel.: +91 120 4592 300, Fax: +91 120 4592 301 www.coforgetech.com

Registered Office: 8, Balaji Estate, Third Floor, Guru Ravi Das Marg, Kalkaji, New Delhi - 110 019, India. Tel.: +91 11 41029 297, Fax: +91 11 2641 4900

CIN: L72100DL1992PLC048753

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TAKE TWO 7 ~~<~~

NEW DELHI | TUESDAY, 26 OCTOBER 2021

~~.~~

TCS reconfigures for the future

Its new growth and transformation strategy lies in building large advisory and strategy capabilities alongside its traditional outsourcing and System Integrator businesses

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SHIVANI SHINDE there were people who were experienced in a Mumbai, 25 October particular vertical, its trend, internal culture, challenges, technology needs and new possin March this year, when Tata Consultancy bilities and what that industry was doing at Services (TCS) unveiled a new brand statethat stage. These individuals were identified I ment of “Building on Belief”, many wonas Contextual Masters. At present TCS has dered if it was the right strategy. When things 25,000 Contextual Masters, who not only know are uncertain, wouldn’t a brand statement such their industry needs inside-out but also hold as “Experience Certainty” have been better? patents for their research work. Gopinathan is But for Rajesh Gopinathan, CEO & MD, TCS, it focused on increasing this number manifold was all about the way the company was looking in the coming years. at business. The final “A” is Amplification. This is where As Gopinathan explained over a video call, clients endorse what TCS has made possible for “Today, we have over 1,000 customers and them. “This whole exercise was triggered by the 98 per cent of our business is repeat business; feedback we got from our clients who said they our relevance to customers should continue, cannot be our salesmen,” added Gopinathan. and to increase. Our situation is unique as our This is important for TCS as it’s known for customers want to work with us more, so the its execution capabilities. But the G&T strategy onus is on us to ensure that we develop ourfocuses on innovative thinking and execution. selves continuously so that we remain relevant Take the case of the Nordic insurance player to the customer ecosystem and that is our G&T Gjensidige. The firm wanted to increase its mar[growth and transformation] agenda.” ket share in Sweden. Instead of asking what the The company started to talk about its G&Tclient wanted, TCS suggested that Gjensidige led strategy more openly about three quarters could be part of its innovation lab in Ams ter - back. At a Q4 FY21 me - dam, called Pace Port. This is dia meet Gopi nathan a place where clients and TCS had said: “The overall SIZE MATTERS co-innovate. opportunity, what we In this case Gjensidige got Figures in $ mn call ‘growth and transa team of business leaders TCS formation’, is huge, and who worked with a TCS team Current Mcap 1,72,723 we are still early stage to create a pilot. Based on the participants there. We FY19 FY20 FY21 results of the pilot, the comare investing in it across Revenue 20,954 22,145 22,119 pany has created a backlog of the value chain, NP 4,503 4,556 4,473 activities that need to be carwhether in developing Mcap 1,08,347 90,910 1,60,672 ried out as part of its transforcapabilities by harnessmation, and TCS is part of it. ing contextual knowl- IBM At present, TCS Pace has four edge, by innovation, Current Mcap 1,14,621 hubs — in Tokyo, New York, experimenting and Accenture PLC Pittsburgh and Amsterdam. investing into new Current Mcap 2,32,687 “These co-innovation labs opportunities.” are not directed at solving Compiled by BS Research Bureau Source: Bloomberg He also pointed out immediate problems, but are that the upstream (condesigned to bring the engagesulting) work that is cornered by the Big Four ment forward, and this has increased in volume. — Deloitte, PricewaterhouseCoopers, KPMG, We have built a lot of credibility with the client and EY — and the consulting services provider and now we are taking it a step further and sayneeds to change. The traditional consultants ing why not ideate on other areas, and it is genhave used a “cookie-cutter” type of approach erating a lot of interest,” Gopinathan said. to solve problems, he said. To reach this point has meant a lot of interPeter Bendor-Samuel, CEO, Everest Group, nal change. “The challenging part has been the a global research and advisory firm, believes internal mindset. This is not moving away from that there are two reasons for TCS to enter this our values but claiming what is ours,” space. “First, it is a large and attractive market. Gopinathan added. “Talking about what is Accenture and Capgemini are two somewhat rightfully ours is not negation of it but a logical similar firms that have been successful in buildextension because of the size we have and the ing and sustaining large advisory and strategy aspiration that we have. When you are small, businesses alongside their outsourcing and your work is visible internally and externally, System Integrator (SI) business,” he said. but when you are large and diverse as we are The second reason is that TCS hopes to use you need to tell your story.” the influence that advisory or strategy provides Bendor-Samuel thinks this shift will be a to get in early to large transformation SI and challenging one, especially when several have outsourcing opportunities and potentially crefailed miserably when they shifted gears to be ate a sole-source capability similar to Accenture, players in the advisory and strategy space. “It Deloitte and E&Y’s. is possible to pair the advisory and/or strategy This shift has meant a lot of internal introbusiness with SI and outsourcing as Accenture spection. Within TCS, this change was being and Deloitte demonstrate. What makes TCS’ brought about by the ‘triple A strategy’ — journey harder is that there are already large Awareness, Articulation and Amplification. firms in consulting advisory and strategy in the “It starts with a heightened awareness of market blocking their progress,” he added. what we do. One of the exercises that we have “On the other hand, TCS’ strong customer been doing for the past few years has been idenrelationships, with footholds in SI and outsourctifying the value of what we do,” Gopinathan ing, is a very deep balance sheet,” he pointed explained. “There are multiple G&T projects in out, while adding, “But even with these formiwhich TCS was participating and executing dable advantages, it faces a steep learning curve very well, but what we did in the last few years and a difficult journey if it is to emerge with a was to become more aware of which part of the market leading business. Buying an existing customer agenda we are partnering with. And firm is possible but the integration challenges this awareness is the key part of our strategy.” are formidable; growing the business organiThe Articulation strategy began within TCS cally may mean that it never gets to scale and a decade back when the company brought in falls short of the kind of revenue and influence vertical focus into its business. This meant that that it seeks.”

Restaurant industry shrank 53% in pandemic year: Report

RITWIK SHARMA estimated ~200,762 crore after av e rage profitability falling 88 New Delhi, 26 October a high of ~423,624 crore in per cent, said the report that FY2020, but the organised secwas released at a flagship roun - The restaurant business worldtor was faster to recover and its dtable of the industry body. wide was one of the hardest hit share in the food services pie The report cited measures by the Covid-19 pandemic. The is expected to increase to 54 per taken by the Centre and policy Indian food services market cent by FY2025, up from 27 per advocates, and also offered re - was no exception, as it witcent in FY2021, the Covid-19 co m mendations to the central nessed 53 per cent degrowth in impact assessment re port and state governments to bail FY2021 compared to the previadded. In the ongoing fiscal the industry out. The recomm - ous fiscal, a report by the Nat - year, the industry — which endations include restoration ional Restaurant Assoc iation of employs 7.3 million people — of input tax credit on the goods India (NRAI) said on Monday. is expected to recover and and services tax, framing a fair The contraction in the food reach a size of ~472,285 crore. e-commerce policy, un em ploy - services industry led to the perRevenue and profitability ment pay cover for em p loy ees, manent closure of over 25 per also took a significant hit due general notification allowi ng cent of food business operators, to Covid-19, with average reve - the invoking of force ma j e ure which resulted in job losses of nue post-lockdown seeing de - and adjustment of licence fees nearly 2.4 million in India. The growth of 46 per cent comp a r - for the period of operations Indian market size slid to an ed to pre-Covid levels, and under restrictive conditions.

ON THE JOB

size of the IT and/or ITeS industry is the wage bill as pro- An IT, ITeS labour conundrum vided by the companies. The total wage bill of all 140 listed er preference for fresh graducompanies for which financial ates. This could be because of statements were available for some scepticism regarding the the quarter ended June 2021 quality of fresh candidates was ~536 billion. Of this, the graduating after remote edutop 10 companies accounted cation in the shadow of Covidfor ~495 billion and the remain19 and stringent lockdowns. ing 130 made for a meagre ~41 Most of the employment in billion. The top 10 companies this industry is provided by account for about 91 per cent some of the best companies in of all employment among listIndia. Tata Consultancy Ser - ed IT and/or ITeS companies MAHESH VYAS vices employs over half a miland they make 92.4 per cent of lion. It alone accounts for over all wage payments to them. a quarter of the total estimated Wage rates are higher in the ccording to CMIE’s employment in this coveted the industry employs about 2 There are 300 listed IT top 10 companies. Consumer Pyramids industry. Infosys is a distant million people. This estimate and/or ITeS companies in In - The total wage bill of IT A Household Survey second but it is still a very large is drawn from a large housedia. Of these, employment data and/or ITeS companies shot (CPHS), information technolprovider of good quality jobs hold survey. Independent estiwas available for only 10 for the up by 15 per cent yoy in the ogy (IT) and information techto nearly 280,000 people. Next, mates drawn from CMIE’s Pro - June 2021 quarter. Of these, six quarter ended June 2021. In nology enabled services (ITeS) HCL Technologies and Wipro wess database indicate that are among the top 10 compathe preceding four quarters, together employed 1.78 million come close with both employlis ted IT and/or ITeS companies and four from the rest. We growth was between 4.7 and people in September 2021. The ing a little short of 200,000. nies employ about 1.5 million. use this and similar data for 6.3 per cent. The 15 per cent average for the quarter ended Wipro is a somewhat diversiThis implies that the unlisted earlier quarters along with the growth of the June 2021 quarSeptember 2021 was lower at fied enterprise and so some of companies could be employtotal wage bill of individual ter was the best since the 1.74 million. This is also lower its employment is in non-IT ing about half a million or a litcompan ies to derive an average December 2018 quarter. Ten than the average 1.9 million businesses. Wipro also does tle more than that. This is what wage rate for the top 10 IT companies that have provided the industry employed in the not provide details of employTCS alone employs. and/or ITeS companies and data for the quarter ended quarter of June 2021. Emp - ment like other listed IT comIndian compan ies are not separately for the remaining IT September 2021 indicate a furloyment in the IT and/or ITeS panies do. We have estimated very good at proand/or ITeS comther acceleration in the wage industry had peaked at 2.23 employment by the company viding informa- The top 10 panies. Us ing the bill to 17.4 per cent. These are million in June 2021. using its wage bill as a refertion on the num- companies account average wage rates mostly the top companies. The IT and/or ITeS indusence point. ber of persons for about 91 per cent from the select Evidently, the demand for try is a small employer. At All the top IT job providers they employ. Even of all employment few who provide labour from IT and/or ITeS about 2 million, it accounts for in India are listed companies. listed companies among listed IT emp l oyment data companies shot up in the quara mere half per cent of the total There are some large unlisted do not provide and/or ITeS firms and and the published ter ended September 2021 but employment in the country. IT companies as well, such as em p loyment data they make 92.4 per total wage bill for the lack of growth in total But, it provides one of the Accenture Solutions, Microsoft at a quarterly fre- cent of all wage individual compaemployment seen in CPHS in most coveted jobs in the priCorporation, SAP India, etc. quency the way payments to them nies, we estimate the September 2021 quarter vate sector. Demand for IT While some of them hire in the they provide quarthe emp loyment indicates that the larger comand/or ITeS professionals from thousands, none matches the terly financial statements. We by each company. panies are mostly poaching larger companies is on the rise. hundreds of thousands hired have used the salary and wage The top 10 listed IT and/or available human resources. Companies are reportedly hirby the top four IT companies data, which is available at a ITeS companies are estimated The demand for fresh labour ing aggressively. But, at the in India mentioned above. quarterly frequency for all listto have employed 1.46 million is limited. Smaller companies same time, attrition rates have Two databases maintained ed companies, and the emp - people in the quarter ended that are losing human risen. This suggests that much by CMIE show somewhat comloyment data of a se lect few June 2021. The remaining 130 resources are not replenishing of the hiring by companies is parable employment estimates that provide such data to estiemployed only an estimated them commensurately. from within the industry. for IT and/or ITeS companies mate employment among list0.13 million. There seems to be a much lowin India. CPHS estimates that ed companies in the industry. A concrete estimate of the The writer is MD & CEO, CMIE P Ltd

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Coforge Limited (erstwhile NIIT Technologies Limited)

CIN: L72100DL1992PLC048753

Regd Office: 8, Balaji Estate, Third Floor, Guru Ravi Das Marg, Kalkaji, New Delhi-110019. Ph: 91 (11) 41029297 Fax: 91 (11) 26414900 Email: [email protected] Website: https://www.coforgetech.com

Statement of Audited Financial Results for the Quarter and half year ended September 30, 2021

	S. No.	Particulars	3 Months ended	Corresponding Quarter ended Standalone	Year to date figures for the current period ended	3 Months ended	Corresponding Quarter ended Consolidated	(Rs. In Million) Year to date figures for the current period ended
	1. 2. 3. 4. 5. 6. 7. 8.	Total income from operations Net profit for the period (before Tax & Exceptional items) Net profit for the period before tax (after Exceptional items) Net profit for the period after tax Total comprehensive Income for the period Paid up equity share capital Other Equity Earnings Per Share (after extraordinary and exceptional items) of face value of Rs.10/- each) (not annualized): 1. Basic 2. Diluted	8,121 1,473 1,473 1,263 1,338 606 - 20.84 20.36 30.09.2021	6,084 538 538 446 579 606 - 7.36 7.25 30.09.2020	15,490 3,277 3,277 2,980 2,973 606 - 49.18 48.10 30.09.2021	15,694 2,061 2,061 1,615 1,649 606 - 24.21 23.65 30.09.2021	11,537 1,525 1,525 1,222 1,312 606 - 19.93 19.61 30.09.2020	30,310 3,693 3,693 2,927 3,022 606 - 44.61 43.63 30.09.2021

Notes:-

i) The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results are available on the websites of the Stock Exchange(s) and the listed entity http://www.coforgetech.com

ii) The above results were reviewed and recommended by the Audit Committee at the meeting held on October 23, 2021 and approved by the Board of Directors at their meeting held on October 25, 2021.

iii) The information presented above is extracted from the audited interim condensed consolidated / standalone financial statements. These interim condensed consolidated / standalone financial statements are prepared in all material respects, in accordance with the requirements of Indian Accounting Standard (Ind AS) 34 specified under section 133 of the Companies Act, 2013 (“the Act”), read with the Companies (Indian Accounting Standards) Rules, 2015, as amended. The statutory auditors have expressed an unmodified audit opinion on interim condensed consolidated / standalone financial statements.

iv) On April 12, 2021, the Group entered into Share Purchase Agreement and Shareholders Agreements with SLK Global Solution Private Limited (investee) and acquired 35% equity shares. Further, it acquired additional 25% equity shares on April 28, 2021. The total consideration paid amounted to Rs 9,183 mn. As per the terms of the agreement, the Group shall acquire the remaining stake of 20% after two years. The Group is in process of concluding the fair valuation assessment and has recorded identifiable assets basis provisional fair valuation and financial liability for future acquisition for the balance 20% stake at fair value. The Group funded the above transaction partially through redeemable Non-Convertible Bonds amounting to Rs. 3,400 Mn and balance through internal accruals. These bonds having face value of Rs. 1,000,000 each are non-convertible and unsecured with maturity upto five years from the date of allotment i.e. April 26, 2021.

v) The Board of Directors at its meeting held on October 25, 2021 has declared an interim dividend of Rs. 13 per equity share.

By order of the Board For Coforge Limited (Erstwhile NIIT Technologies Limited) Sd/- Sudhir Singh CEO & Executive Director DIN: 07080613

Date : October 25, 2021 Place : Gurugram

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61761_rns_2021-10-26_369df673-b772-4cb9-9862-c73d70fd53ea.pdf

October 26, 2021

The General Manager ,

– Subject: Newspaper publication Statement of Consolidated and Standalone Results for the Quarter and half year ended 30[th] September 2021

( Erstwhile NIIT Technologies Limited)

Coforge Limited

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Statement of Audited Financial Results for the Quarter and half year ended September 30, 2021

AI assistant

COFORGE LIMITED — Interim / Quarterly Report 2022

61761_rns_2021-10-26_369df673-b772-4cb9-9862-c73d70fd53ea.pdf

October 26, 2021

The General Manager ,

– Subject: Newspaper publication Statement of Consolidated and Standalone Results for the Quarter and half year ended 30[th] September 2021

( Erstwhile NIIT Technologies Limited)

Coforge Limited

dksQkstZ fyfeVsM ¼iwoZr% ,uvkbZvkbZVh VsDuksykWtht+ fyfeVsM½

30 flrEcj] 2021 dks lekIr frekgh vkSj v)Z o"kZ gsrq ys[kkijhf{kr foRrh; ifj.kkeksa dk fooj.k

TCS reconfigures for the future

Restaurant industry shrank 53% in pandemic year: Report

ON THE JOB

Statement of Audited Financial Results for the Quarter and half year ended September 30, 2021

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