IndiQube Accelerates Growth: ₹28 Cr Profit in Q2 FY26, ₹354 Cr Revenue Up 38% YoY; H1 Cashflows jump by 138%
Bengaluru:– IndiQube Spaces Limited, one of India’s leading tech-enabled workspace solutions provider, today announced its financial results for the quarter and half year ended Sep 30, 2025 (Q2 FY26).
Commenting on the results Rishi Das, Cofounder & CEO, IndiQube said “Our growth momentum continues to strengthen as we posted our highest-ever half yearly revenue of ₹668 Crores in H1 FY26. With 96% of this revenue being recurring, and operating cashflows improving to ₹151 Crores we have a strong foundation for future growth. Also, our PAT for Q2 FY26 has risen to ₹28 Crores, reflecting our consistent focus on building a profitable and resilient business. With a healthy EBITDA margin of 21% in Q2 FY26, we also see continued improvement in our margins and look forward to a strong closure for the financial year in H2.”
Meghna Agarwal, Co-founder, IndiQube, added “We had some big wins this quarter, including a 1.4 lakh sq. ft. signup in workspace leasing in Bangalore to the world’s largest asset manager and a 68,000 sq. ft. Design & Build project in Hyderabad for one of India’s largest automakers. Deals like these reinforce IndiQube as a preferred workspace partner for large enterprises. We are also excited to be closing H1 FY26 with a healthy occupancy of 87% at a portfolio level. This coupled with a PAN India presence in 16 cities & addition of Indore this quarter, sets us up firmly for an exciting H2.”
Key Operational Highlights:
- Area Under Management (AUM): Increased by nearly 1.3 Mn sq. ft. YoY, to 9.14 Mn sq. ft.
- Seat Capacity: Increased by nearly 30 K seats to 203 K Seats
- City Expansion: Entered 3 new cities – Indore, Kolkata & Mohali
- Center Additions: Added 22 new centers YoY
- Current Portfolio: 125 properties across 16 cities pan-India
- Occupancy: Healthy 87% portfolio occupancy
- Credit Rating: CRISIL ‘A+’ (Stable) rating, reaffirming financial strength
While the company reported strong operating performance with a current tax expense of ₹6.9 Cr in H1 FY26, a notional loss was recognised under Ind AS reporting, which is primarily due to Ind AS accounting adjustments. Under Ind AS, IndiQube reported an EBITDA margin of 59% (₹208 Cr) and a net loss of ₹30 Cr.
The variance between Ind AS and IGAAP-equivalent reporting arises mainly from non-cash accounting impacts, primarily on account of Ind AS 116, such as;
- Depreciation on Right-of-Use (ROU) assets, and
- Interest on lease liabilities.
These adjustments are purely accounting in nature and do not affect the company’s underlying operating strength. IndiQube’s core business, continues to demonstrate robust profitability and cash generation. (Refer to the Investor Presentation for a detailed reconciliation between Ind AS and IGAAP equivalent financials.)
Financial Statements:
Results for the quarter and half year ended Sep 30, 2025, prepared under Ind AS, along with segment results, are available in the Investor Relations section of our website https://indiqube.com/investor/
Quarterly Conference Call:
The earnings conference call will be held on Monday, November 10, 2025, at 2:00 PM (IST) to discuss the Financial Results and performance of the company for the quarter and half year ended September 30, 2025. The earnings conference call will be accessible from all networks and countries through universal access dial-ins +91-22-6280 1148 / +91-22-7115 8049 also accessible at: Click Here Further, the analyst(s)/institutional investor(s) presentation will be submitted to Stock Exchanges and shall also be hosted on the Company’s website at https://indiqube.com/investor/
