Workspace solutions provider IndiQube’s net profit jumps 303% to Rs 18.5 crore in Q1 FY26

IndiQube Spaces Limited, a tech-enabled workspace solutions provider, has reported its first financial results as a publicly listed company for the quarter ended June 30, 2025 (Q1 FY26). The company debuted on Indian stock exchanges on July 30, 2025.

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“We posted our highest-ever IGAAP-equivalent quarterly revenue of Rs 313 crore, reflecting a 27% year-on-year increase,” said Rishi Das, co-founder and CEO of IndiQube.

“With 98% of this revenue being recurring, we are building on a strong, stable foundation for the future. Our EBITDA nearly doubled to Rs 65 crore from Rs 33 crore a year earlier, while net profit rose 303% to Rs 18.5 crore from Rs 4.6 crore, showcasing disciplined execution and a scalable business model.”

Meghna Agarwal, co-founder of IndiQube, said technology continues to play a central role in the company’s operations.

“Our in-house MiQube app, now with over 83,000 downloads, reflects how our users value a seamless, tech-integrated workplace,” she said.

Agarwal also noted that the company commissioned the first phase of its 20 MW group solar farm in June, generating more than 9.8 lakh units of green power and saving Rs 68 lakh in monthly energy costs. IndiQube now has more than 29 green-certified centers.

Operationally, the Bengaluru-based company increased its area under management by nearly one million square feet year-on-year, from 7.76 million sq. ft. to 8.7 million sq. ft., and added around 21,000 seats, taking total seat capacity to 193,000.

It entered two new cities, Kolkata and Mohali, and added 17 new centers over the past year, bringing its portfolio to 120 properties across 15 cities in India. Portfolio occupancy stood at 85%, and the company retained its CRISIL ‘A+’ (Stable) credit rating.

While IndiQube reported positive operating performance under IGAAP-equivalent accounting, it posted a loss under Ind AS reporting due to accounting adjustments. Under Ind AS, the company reported EBITDA of Rs 188 crore (61% margin) and a net loss of Rs 37 crore.