IndiQube Delivers Strong Q2 with Rs 280 Million PAT

11 Nov 2025 CW Team

Commenting on the performance, Rishi Das, Co-founder & CEO, IndiQube, said, “Our growth momentum continues to strengthen as we posted our highest-ever half-yearly revenue of Rs 6.68 billion in H1 FY26. With 96 per cent of this revenue being recurring and operating cash flows rising to Rs 1.51 billion, we have built a strong foundation for future expansion. Our Q2 FY26 PAT rose to Rs 280 million, reflecting our consistent focus on profitability and resilience. With an EBITDA margin of 21 per cent this quarter, we expect a strong finish to the financial year.”

Meghna Agarwal, Co-founder, IndiQube, added, “We secured major wins this quarter, including a 1.4 lakh sq ft workspace leasing deal in Bengaluru with the world’s largest asset manager and a 68,000 sq ft. Design & Build project in Hyderabad for one of India’s largest automakers. These strategic deals reinforce IndiQube as a preferred partner for large enterprises. We close H1 FY26 with a healthy 87 per cent occupancy, a presence across 16 cities, and the addition of Indore, setting us up for a strong H2.”

Despite strong operating performance and a current tax expense of Rs 60.9 million in H1 FY26, the company reported a notional loss under Ind AS due to non-cash accounting adjustments. Under Ind AS, IndiQube reported:

EBITDA margin: 59 per cent (Rs 2.08 billion)
Net loss: Rs 300 million

The variance between Ind AS and IGAAP-equivalent numbers is primarily due to Ind AS 116 impacts, including:

Depreciation on Right-of-Use (ROU) assets
Interest on lease liabilities

These adjustments are accounting in nature and do not affect IndiQube’s underlying operational strength. The company continues to demonstrate robust profitability and healthy cash generation from its core business.

IndiQube Spaces, one of India’s leading tech-enabled workspace solutions providers, announced its financial results for the quarter and half year ended 30 September 2025, delivering strong growth across revenue, profitability, and operational metrics.Commenting on the performance, Rishi Das, Co-founder & CEO, IndiQube, said, “Our growth momentum continues to strengthen as we posted our highest-ever half-yearly revenue of Rs 6.68 billion in H1 FY26. With 96 per cent of this revenue being recurring and operating cash flows rising to Rs 1.51 billion, we have built a strong foundation for future expansion. Our Q2 FY26 PAT rose to Rs 280 million, reflecting our consistent focus on profitability and resilience. With an EBITDA margin of 21 per cent this quarter, we expect a strong finish to the financial year.”Meghna Agarwal, Co-founder, IndiQube, added, “We secured major wins this quarter, including a 1.4 lakh sq ft workspace leasing deal in Bengaluru with the world’s largest asset manager and a 68,000 sq ft. Design & Build project in Hyderabad for one of India’s largest automakers. These strategic deals reinforce IndiQube as a preferred partner for large enterprises. We close H1 FY26 with a healthy 87 per cent occupancy, a presence across 16 cities, and the addition of Indore, setting us up for a strong H2.”Despite strong operating performance and a current tax expense of Rs 60.9 million in H1 FY26, the company reported a notional loss under Ind AS due to non-cash accounting adjustments. Under Ind AS, IndiQube reported:EBITDA margin: 59 per cent (Rs 2.08 billion)Net loss: Rs 300 millionThe variance between Ind AS and IGAAP-equivalent numbers is primarily due to Ind AS 116 impacts, including:Depreciation on Right-of-Use (ROU) assetsInterest on lease liabilitiesThese adjustments are accounting in nature and do not affect IndiQube’s underlying operational strength. The company continues to demonstrate robust profitability and healthy cash generation from its core business.

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