IndiQube reports 303% jump in Q1 profit to ₹18.5 crore, 27% rise in revenue 

IndiQube Spaces Limited, a Bengaluru-based integrated tech-enabled workspace solutions provider, announced its Q1FY2026 results. The company reported a staggering net profit surge by 303% year-on-year (YoY) to ₹18.5 crore from ₹4.6 crore. Ebitda nearly doubled YoY to ₹65 crore, up from ₹33 crore, while posting the highest-ever IGAAP-equivalent quarterly revenue of ₹313 crore, reflecting a 27% YoY rise. The Ebitda margin grew to 21% from last year’s 13%. 

Operationally, IndiQube increased its area under management by nearly 1 million sq. ft. to  8.7 million sq. ft in a span of a year, while adding 17 new centres and boosting seat capacity by nearly 21,000 seats, from 1,73,000 seats to 1,93,000 seats. IndiQube now has 120 properties across 15 cities, with 85% portfolio occupancy, and has entered Kolkata and Mohali in this quarter. 

While the company reported strong operating performance and positive Ebitda under IGAAP equivalent, a loss of ₹37 crore was observed under Ind AS reporting. As per the investor’s presentation, the accounting loss reported under Ind AS arises primarily due to the application of Ind AS 116 (Leases), which requires the recognition of non-cash expenses such as depreciation on Right-of-Use assets and interest on lease liabilities. “These adjustments are accounting in nature, do not affect our cash flows, and are specific to the lease accounting methodology prescribed under the standard,” the presentation stated. 

The company’s in-house MiQube app has surpassed 83,000 downloads, while sustainability measures include a 20 MW group solar farm, which would generate over 9.8 lakh units of green power in June and save ₹68 lakh in monthly energy costs. “These initiatives, along with over 29 green-certified centres, uniquely position us to meet the evolving needs of the future of work,” says Meghna Agarwal, Co-founder, IndiQube.