IndiQube Spaces Reports Record Q2 FY27 Revenue of Rs 475 Crore
Bengaluru, November 4, 2026: IndiQube Spaces Limited announced its financial results for the second quarter and the first half of FY27 ended September 30, 2026. The integrated managed spaces platform reported a 34 percent year-on-year increase in revenue for the second quarter, reaching a record Rs 475 crore. EBITDA for the quarter rose 40 percent to Rs 105 crore, while profit after tax grew 63 percent to Rs 57 crore. For the first half of the financial year, revenue stood at Rs 904 crore, up 35 percent year-on-year, while profit after tax grew 66 percent to Rs 92 crore, according to a press release issued by the company.
The company expanded its operational portfolio by adding 1.72 million square feet year-on-year, bringing its total area under management to 10.86 million square feet across 138 properties in 17 cities. Total seat capacity increased by 38,000 to reach 241,000 seats, maintaining a steady-state center occupancy of 91 percent across its locations.
Global Capability Centers (GCCs) contributed 54 percent of the company’s revenue, while multi-center clients accounted for 41 percent of the total 884 clients served. Additionally, revenue from value-added services grew 74 percent year-on-year to Rs 154 crore during H1 FY27, representing 17 percent of total operating revenue.
Under Ind AS reporting accounting rules, which account for depreciation on Right-of-Use assets and interest on lease liabilities under Ind AS 116, the company reported an EBITDA of Rs 297 crore and a net loss of Rs 6 crore for Q2 FY27.
Commenting on the results, Rishi Das, Cofounder & CEO, said:
“Q2 FY27 has been another strong quarter for IndiQube, with our highest ever quarterly revenue of ₹475 crore, growing 34% year on year. More importantly, growth continues to translate into stronger profitability, with EBITDA growing 40% to ₹105 crore and PAT growing 63% to ₹57 crore. EBITDA margin improved to 22%, and PAT margin expanded to 12%, reflecting the operating leverage inherent in our platform as we scale. For the first half of FY27, revenue reached ₹904 crore while PAT grew 66% to ₹92 crore. We remain focused on growing with financial discipline, strengthening margins and maintaining the right balance between scale, profitability and capital efficiency.”
Meghna Agarwal, Co-founder, added:
“Our performance this quarter reflects the increasing depth and resilience of the IndiQube platform. We now manage 10.86 Mn sq. ft. across 138 centers and 17 cities, with 241 K seats and a steady state occupancy of 91%. The quality of this demand is equally encouraging. We serve 884 clients, with GCCs contributing 54% of revenue and multicenter clients 41%, reflecting strong demand from large enterprises for scalable, distributed workspace solutions. Our customer relationships are also expanding beyond the workspace. Value Added Services revenue grew 74% to ₹154 crore in H1 FY27 and now contributes 17% of operating revenue. As DesignQube, IndiQare and Eco scale alongside our workspace network, we are deepening customer engagement and strengthening the quality of our revenue mix.”
