IndiQube Spaces Q1 revenue jumps 37% to record Rs 428 crore

Integrated managed spaces platform IndiQube Spaces Limited, has reported its highest ever quarterly revenue of Rs 428 crore, reflecting 37% YoY growth for Q1FY27.

“EBITDA increased 34% to Rs 87 crore, EBIT grew 59% to Rs 55 crore, and PAT grew 91% to Rs 35 crore. EBITDA margins remained healthy at 20%, while EBIT and PAT margins improved to 13% and 8% respectively, demonstrating the operating leverage inherent in our platform as we continue to scale. With this momentum, we remain focused on maintaining a healthy balance of scale, profitability & capital efficiency,” said Rishi Das, Cofounder & CEO, IndiQube.

Company’s area under management increased by 1.91 million sq. ft YoY, to 10.61 million sq. ft while seat capacity increased by 43,000 seats to 236,000 seats.


“Our operating performance in Q1 FY27 reflects the increasing depth and efficiency of the IndiQube platform. Steady state occupancy strengthened to 90% and overall occupancy improved to 86%, underscoring healthy customer demand and improved utilization across the portfolio,” said Meghna Agarwal, Co-founder, IndiQube.

Value Added Services also continued to scale rapidly, with VAS revenue reaching Rs 72 crore and its contribution to operating revenue increasing from 11% to 17%.