Indiqube Spaces Limited , a leading tech-enabled workspace solutions provider in India, has reported robust financial results for the second quarter of fiscal year 2026, demonstrating significant growth and improved profitability.

Financial Highlights

• Revenue for Q2 FY26 stood at ₹354.00 crore, marking a 38% year-over-year increase from ₹256.00 crore in Q2 FY25.
• EBITDA grew by 74% to ₹75.00 crore, compared to ₹43.00 crore in the same quarter last year.
• Profit After Tax (PAT) surged to ₹28.00 crore, more than tripling from ₹8.00 crore in Q2 FY25.
• EBITDA margin improved to 21% from 17% in the corresponding quarter of the previous year.

Half-Yearly Performance

For the first half of FY26 (H1 FY26), Indiqube Spaces reported:

• Record revenue of ₹668.00 crore, up 33% from ₹503.00 crore in H1 FY25.
• 96% of the revenue was recurring, indicating a stable business model.
• Operating cash flows improved significantly to ₹151.00 crore, a 138% increase year-over-year.

Operational Achievements

• Area Under Management (AUM) increased by 1.3 million sq. ft. year-over-year to 9.14 million sq. ft.
• Seat capacity expanded by nearly 30,000 seats to 203,000 seats.
• The company entered three new cities: Indore, Kolkata, and Mohali, bringing its total presence to 16 cities pan-India.
• 22 new centers were added year-over-year, bringing the total to 125 properties.
• Portfolio occupancy reached 87%, up from 81% in Q2 FY25.

Key Business Wins

Indiqube Spaces secured significant deals in Q2 FY26, including:

• A 1.4 lakh sq. ft. workspace leasing in Bangalore for the world's largest asset manager.
• A 68,000 sq. ft. Design & Build project in Hyderabad for one of India's largest automakers.

Management Commentary

Rishi Das, Cofounder & CEO of Indiqube Spaces, commented on the results: "Our growth momentum continues to strengthen as we posted our highest-ever half yearly revenue of ₹668 Crores in H1 FY26. With 96% of this revenue being recurring, and operating cashflows improving to ₹151 Crores we have a strong foundation for future growth. Also, our PAT for Q2 FY26 has risen to ₹28 Crores, reflecting our consistent focus on building a profitable and resilient business."

Meghna Agarwal, Co-founder, added: "We are excited to be closing H1 FY26 with a healthy occupancy of 87% at a portfolio level. This coupled with a PAN India presence in 16 cities & addition of Indore this quarter, sets us up firmly for an exciting H2."

Financial Stability

The company maintains a CRISIL 'A+' (Stable) credit rating, reaffirming its financial strength.

Future Outlook

With its expanding footprint, strong occupancy rates, and improved financial performance, Indiqube Spaces is well-positioned for continued growth in the flexible workspace sector. The company's focus on tech-enabled solutions and its ability to attract major clients across various industries suggest a positive outlook for the coming quarters.

Investors and stakeholders can look forward to the company's continued expansion and potential for further market penetration in India's growing commercial real estate sector.

Indiqube Spaces Limited , a prominent player in the commercial workspace leasing sector, has reported record financial results for the first half of FY26, showcasing significant growth in revenue and profitability.

Financial Performance

Indiqube Spaces achieved its highest half-yearly revenue of ₹668.00 crores in H1 FY26, marking a 33% increase from ₹503.00 crores in H1 FY25. The company's performance highlights include:

For Q2 FY26 specifically, the company reported:

• Revenue: ₹354.00 crores (38% growth)
• PAT: ₹28.00 crores (260% growth)

Operational Highlights

• Expanded footprint to 16 cities with 125 centers
• Total area under management: 9.14 million square feet
• Overall occupancy rate: 87% across the portfolio
• Operating cash flows improved to ₹151.00 crores
• 96% of revenue is recurring

Key Client Wins

1. Secured a 1.40 lakh sq.ft. workspace lease to the world's largest asset manager in Bangalore
2. Obtained a 68,000 sq.ft. Design Build project in Hyderabad

Outlook

Indiqube Spaces' strong financial performance, coupled with its expanding operational footprint and high-profile client acquisitions, indicates a positive trajectory for the company. The improvement in EBITDA margin and the high percentage of recurring revenue suggest a robust and sustainable business model.

Investors and market watchers will likely continue to monitor Indiqube's growth strategy, particularly its ability to maintain high occupancy rates while expanding its portfolio of managed workspaces across India.