Workspace Provider Indiqube Reports ₹28 Crore Profit in Q2 FY26, Co-Founder Highlights Major Achievements

SA TeamNovember 10, 2025

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Three points you will get to know in this article:

1. IndiQube reported a Q2 FY26 profit after tax of ₹28 crore (IGAAP-equivalent) and an operating revenue of ₹354 crore (IGAAP-equivalent).
2. The company significantly expanded its operational presence to 125 properties across 16 cities, increasing seat capacity to 2.03 lakh and maintaining 87% occupancy.
3. Secured significant deals, including a 1.4 lakh sq ft lease for the largest global asset manager and a 68,000 sq ft design-and-build project for a major Indian automaker.

Financial Highlights - Q2 and H1 FY26 Performance

The listed provider of tech-enabled office solutions, IndiQube Spaces Limited, revealed its financial results for the quarter and a half that concluded on September 30, 2025 (Q2 FY26), reporting its highest-ever half-yearly revenue.

Under Ind AS, the company’s total income for the first half of FY26 was Rs 691 crore, with Rs 659 crore coming from operations. In contrast, under IGAAP-equivalent reporting, the company’s total income was Rs 673 crore, with Rs 668 crore coming from operations.

IndiQube reported total revenue of Rs 367 crore under Ind AS and Rs 360 crore on IGAAP equivalent for the September quarter.

Under IGAAP equivalent, operating revenue for the second quarter of FY26 was Rs 354 crore. In terms of profitability, the company recorded an Ind AS loss of Rs 30 crore for the quarter, however under IGAAP-equivalent reporting, it declared a Q2 profit after tax of Rs 28 crore.

Strong Operational and Cash Flow Performance

During the first half, IndiQube increased its operational presence across the country. Its seat capacity climbed by 30,000 to 2.03 lakh, while its area under management grew by around 1.3 million square feet annually to 9.14 million square feet.

Over the previous year, the company expanded into three new cities—Indore, Kolkata, and Mohali—and added 22 additional centers, increasing its total presence to 125 properties spread across 16 cities. 87% of the portfolio was still occupied.

Key Client Wins and Co-Founder's Commentary

A 1.4 lakh square foot workspace lease in Bengaluru for the largest asset manager in the world and a 68,000 square foot design-and-build project in Hyderabad for one of India’s biggest automakers were two significant client wins during the September quarter.

“We had several significant successes this quarter, such as a 68,000 square foot Design & Build project in Hyderabad for one of India’s biggest automakers and a 1.4 lakh square foot signing in workspace leasing in Bangalore to the largest asset management in the world. These kinds of agreements strengthen IndiQube’s position as a top workspace partner for big businesses. Additionally, we are thrilled to be ending H1 FY26 with a robust portfolio occupancy of 87%. Meghna Agarwal, co-founder of IndiQube, stated, “This, along with a PAN India presence in 16 cities and the addition of Indore this quarter, sets us firmly for an exciting H2.”