Results · Enterprise Software & IT

IndiQube reports FY26 revenue growth and profitability

What they do

IndiQube provides managed office spaces to large corporations and global capability centres

The company reported Rs 1,469 Cr revenue in FY26 with 37% growth and EBITDA of Rs 301 Cr

Net profit turned positive despite accounting losses from non-cash depreciation and interest charges

IndiQube Spaces released its full-year financial results for the fiscal year ending March 2026.
Total revenue reached approximately Rs 1,469 Cr, reflecting a year-over-year growth of 37%.
Operating profit before interest and taxes stood at Rs 301 Cr with a margin of 21%.
The company posted a net profit of Rs 125 Cr after adjusting for specific accounting items.
Quarterly revenue in Q4 was Rs 407 Cr, continuing the strong growth trajectory seen throughout the year.
Operating cash flow surged by 147% to Rs 304 Cr compared to the previous fiscal year.
Some articles report a net loss due to Ind AS accounting rules regarding lease liabilities and depreciation.
The market valued the company at roughly Rs 3,773 Cr based on its share price at the close.

The shift to reported net profit highlights improved operational efficiency and cost management.
Strong cash flow generation indicates healthy business fundamentals beyond accounting adjustments.
Growth in value-added services contributes significantly to overall revenue diversification.
High occupancy rates demonstrate sustained demand for flexible enterprise workspace solutions.

It manages over 130 centres across 17 cities covering nearly 10 million square feet.
The platform serves 848 clients including 42% global capability centres and IT firms.
Average client lock-in period is 34 months with very low monthly churn rates.
Value-added services like food and facility management contributed Rs 218 Cr to revenue.
The tech platform MiQube processed 1.4 million transactions during the fiscal year.
Steady-state occupancy for mature centres remains high at 88%.
Large clients typically sign longer contracts averaging 48 months for their space needs.

Management aims to continue expanding its footprint while maintaining high occupancy levels.