diff --git a/Tools/cmake/cntk_common.cmake b/Tools/cmake/cntk_common.cmake
index fcc872bd98cb..43548ed89430 100644
--- a/Tools/cmake/cntk_common.cmake
+++ b/Tools/cmake/cntk_common.cmake
@@ -1,4 +1,4 @@
-set(CNTK_VERSION 2.6.0)
+set(CNTK_VERSION 2.7.0)
 
 # ----------------------------------------------------------------------
 # UnsupportedComponentError
@@ -45,4 +45,4 @@ if(MSVC)
     else()
         UnsupportedComponentError(${CMAKE_VS_WINDOWS_TARGET_PLATFORM_VERSION} "Windows SDK")
     endif()
-endif()
\ No newline at end of file
+endif()
diff --git a/bindings/java/Swig/pom.xml b/bindings/java/Swig/pom.xml
index 877239b85fc8..4cdb20a2982e 100644
--- a/bindings/java/Swig/pom.xml
+++ b/bindings/java/Swig/pom.xml
@@ -6,7 +6,7 @@
 
     <groupId>com.microsoft.cntk</groupId>
     <artifactId>cntk</artifactId>
-    <version>2.6</version>
+    <version>2.7</version>
     <packaging>jar</packaging>
 
     <name>Microsoft Cognitive Toolkit</name>
diff --git a/configure b/configure
index 40ca9ca50465..edc8eb054606 100755
--- a/configure
+++ b/configure
@@ -20,7 +20,7 @@ enable_csharp=
 
 # cntk build version
 # Modify both of the following during major release
-default_build_version="2.6"
+default_build_version="2.7"
 default_build_public="yes"
 build_version=$default_build_version
 build_public=$default_build_public