IndiQube Spaces Limited delivered its highest ever quarterly revenue of ₹449 crore for Q1FY27, representing a 37% year-on-year growth from ₹324 crore in Q1FY26. According to latest reports, the integrated managed spaces platform demonstrated strong operational leverage with EBITDA rising 34% to ₹87 crore and PAT surging 91% to ₹35 crore on an IGAAP-equivalent basis, up from ₹18.5 crore in Q1FY26. The company maintained healthy EBITDA margins at 20% while PAT margins reached 8%, reflecting the inherent operating leverage in their platform scaling strategy. However, statutory net loss narrowed significantly to ₹23.9 crore from ₹36.8 crore in the same quarter last year, though it increased 5% sequentially from ₹22.7 crore in Q4FY26. The leadership attributed this momentum to improving utilization across the portfolio and a richer mix of value-added services.
The company's operational footprint expanded significantly with area under management increasing by 1.91 million sq. ft year-on-year to 10.61 million sq. ft, while seat capacity grew by 43,000 seats to 236,000 seats. As reported by The Economic Times, steady state occupancy strengthened to 90% and overall occupancy improved to 86%, demonstrating healthy customer demand and improved utilization across the portfolio. The company expanded to 137 centers as of June 2026, up 14% from 120 centers in Q1FY26, with presence increasing to 17 cities. This expansion in operational capacity contributed to the strong revenue growth and operational efficiency gains, with seat count increasing 22% to 2.36 lakh seats from 1.93 lakh seats in Q1FY26.
The company's value-added services segment continued its rapid scaling trajectory with VAS revenue reaching ₹72 crore and its contribution to operating revenue increasing significantly from 11% to 17% in Q1FY27, up from 11% in Q1FY26. According to The Economic Times, this growth in value-added services demonstrates the platform's ability to monetize its core offerings and expand beyond traditional workspace services, contributing to the overall revenue diversification and margin expansion strategy. The company also registered a tax gain of ₹6.6 crore during the quarter. Recurring revenue constituted the bulk of the top line at ₹395 crore, up from ₹307 crore year-ago, while one-time revenue, largely project-based, rose to ₹33 crore from ₹7 crore, supported by ongoing engagements in design and build solutions.
The Bengaluru-based company operates 137 coworking centers across 17 Indian cities and manages a total area of 10.61 million square feet. As per The Economic Times, total income rose to ₹448.81 crore in Q1FY27 from ₹324.12 crore in the corresponding period of the preceding year, while expenses increased to ₹479.32 crore from ₹374.08 crore during the period under review. The company's operational efficiency gains are reflected in the improved occupancy rates and expanded capacity, positioning it well for continued growth in the managed workspace sector.
