IndiQube Reports Record Quarterly Revenue Of Rs 428 Crore In Q1 FY27 As Net Profit Jumps 91%
Bengaluru, August 13, 2026: IndiQube Spaces Limited announced its financial results for the first quarter ended June 30, 2026, reporting its highest ever quarterly revenue from operations of Rs 428 crore. The performance represents a 37% year-on-year growth, driven by expanding physical footprint and robust demand across its managed office spaces platform.
The company’s profitability strengthened significantly across all operational metrics during the quarter. Earnings before interest, taxes, depreciation, and amortization rose 34% year-on-year to Rs 87 crore, maintaining an EBITDA margin of 20%. Operating profit reached Rs 55 crore, marking a 59% increase with an EBIT margin of 13%. Profit after tax recorded a surge of 91% year-on-year to Rs 35 crore, with PAT margins expanding to 8%, IndiQube Spaces said in a press release.
Operating metrics across IndiQube’s national portfolio showed strong momentum during the quarter. Total area under management expanded by 1.91 million sq ft year-on-year to reach 10.61 million sq ft, while total seat capacity increased by 43,000 seats to 236,000 seats. The network added 17 new centers over the past year, taking the current portfolio to 137 properties across 17 cities nationwide. Steady-state center occupancy strengthened to 90%, with overall portfolio occupancy improving to 86%. Revenue from Value Added Services scaled rapidly to Rs 72 crore, increasing its contribution to overall operating revenue from 11% to 17%. CRISIL reaffirmed its ‘A+’ rating with a stable outlook on the company’s credit profile.
Commenting on the results, Rishi Das, Cofounder & CEO, IndiQube, said: “Q1 FY27 marks a very strong start to the year, with IndiQube delivering its highest ever quarterly revenue of Rs 428 crore, reflecting 37% YoY growth. What is equally encouraging is the quality of this growth, with profitability strengthening across every key metric.”
Rishi Das added: “EBITDA increased 34% to Rs 87 crore, EBIT grew 59% to Rs 55 crore, and PAT grew 91% to Rs 35 crore. EBITDA margins remained healthy at 20%, while EBIT and PAT margins improved to 13% and 8% respectively, demonstrating the operating leverage inherent in our platform as we continue to scale. With this momentum, we remain focused on maintaining a healthy balance of scale, profitability & capital efficiency.”
Highlighting the operational trajectory, Meghna Agarwal, Co-founder, IndiQube, said: “Our operating performance in Q1 FY27 reflects the increasing depth and efficiency of the IndiQube platform. Steady state occupancy strengthened to 90% and overall occupancy improved to 86%, underscoring healthy customer demand and improved utilization across the portfolio.”
Meghna Agarwal further noted: “Value Added Services also continued to scale rapidly, with VAS revenue reaching Rs 72 crore and its contribution to operating revenue increasing from 11% to 17%. The combination of a growing physical network, improving occupancy and a richer services mix gives us confidence in the operating trajectory of the business, and we remain optimistic about sustaining this momentum.”
