The firm said 98% of this revenue was recurring, underscoring the stability of its business model. EBITDA nearly doubled to ₹65 crore from ₹33 crore in the same quarter last year, representing 98% growth. Net profit (IGAAP-equivalent) soared 303% YoY to ₹18.5 crore, compared to ₹4.6 crore in Q1 FY2025, reflecting disciplined execution and scalability.
“Our growth momentum continues to strengthen, and this quarter marks a landmark moment in our decade-long journey. We are building on a strong foundation for the future,” said Co-founder and CEO Rishi Das.
Under Ind AS reporting, however, the company posted a net loss of ₹37 crore, primarily due to depreciation on right-of-use assets and interest on lease liabilities as per Ind AS 116 standards. Reported Ind AS EBITDA stood at ₹188 crore, up 61% YoY.
Operational growth remained strong. The area under management expanded by nearly 1 million sq. ft. YoY to 8.7 million sq. ft., while seat capacity increased by 21,000 to 193,000 seats. IndiQube added 17 new centers and entered two new cities—Kolkata and Mohali—taking its portfolio to 120 properties across 15 cities, with a healthy occupancy rate of 85%.
Co-founder Meghna Agarwal said the company’s sustainability push, noting the commissioning of the first phase of a 20 MW group solar farm, which generated over 9.8 lakh units of green power in June and reduced monthly energy costs by ₹68 lakh.“Our in-house MiQube app, which has now surpassed 83,000 downloads, reflects how our users value a seamless, tech-integrated workplace. Taking our sustainability initiatives further, we commissioned the first phase of our 20 MW group solar farm, generating over 9.8 lakh units of green power in June and saving ₹68 lakh in monthly energy costs. meet the evolving needs of the future of work,” she said.
Backed by a CRISIL ‘A+’ (Stable) credit rating, IndiQube’s strong revenue visibility, expanding footprint, and technology-led offerings position it well to capture evolving workspace demands in India’s flexible office market.
