Indiqube Spaces Q2 FY27: PAT ₹35 & Rev ₹428 Cr

1 Financial Results 🔴 High Importance ✨ Positive 📄 PDF

Investor Takeaways

Revenue grew 37% YoY to ₹428 crore in Q1 FY27, marking the highest quarterly revenue in the company's history.

PAT increased 91% YoY to ₹35 crore, reflecting significant improvement in profitability.

EBITDA rose 34% to ₹87 crore, and EBIT grew 59% to ₹55 crore, indicating stronger operational efficiency.

Occupancy reached 90% steady state, supporting revenue stability and scaling benefits.

The company expanded its portfolio to 137 properties across 17 cities, contributing to growth in value-added services.

Overall Tone: Positive

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹428 Cr	37%
Net Profit	₹35 Cr	91%
EBITDA	₹87 Cr	34%
EBIT	₹55 Cr	59%
EPS	Not available
OPM	Not available

What Changed

IndiQube reported robust financial performance for Q1 FY27, with revenue reaching ₹428 crore, up 37% year-on-year, the highest quarterly figure recorded. Net profit surged 91% to ₹35 crore, driven by improved operational leverage and higher occupancy. EBITDA increased 34% to ₹87 crore, while EBIT grew 59% to ₹55 crore, underscoring progress in cost management and core profitability. The company achieved a 90% occupancy rate, indicating sustained demand and effective space utilization. Additionally, the expansion to 137 properties across 17 cities strengthened its market presence and contributed to growth in value-added services. These developments reflect a scalable business model with improving margins and capital efficiency.

Overall Tone: Positive

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
IndiQube Spaces Limited (INDIQUBE)	Not available	Not available	Not available	3,553.72
Adani Ports and SEZ Limited (ADANIPORTS)	30.83	7.75%	12.49%	4,13,583.7
InterGlobe Aviation Limited (INDIGO)	27.38	N/A	N/A	1,66,838.2
GMR AIRPORTS LIMITED (GMRAIRPORT)	-139.99	N/A	N/A	1,01,989.15

IndiQube is smaller in market capitalization compared to its peers but operates in a different segment within services. Its valuation multiples are not directly comparable due to lack of available profitability metrics in the peer data and differences in business models.

IndiQube’s growth in revenue and profitability is notable within its sector, though direct comparative analysis is limited by data availability.

Risks & Concerns

No specific risks were identified in the provided filing.

The company emphasized maintaining balance between scale, profitability, and capital efficiency, suggesting proactive risk management.

No specific risks identified in this filing.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q1 FY27	428	35	Not available

Note: Quarterly trend data is provided only for Q1 FY27. No prior quarter figures are available in the context, so trend analysis is limited to this single data point.

2 Financial Results 🔴 High Importance ✨ Positive 📄 PDF

📢 Key Event
Q1 FY27 revenue reached ₹428 crore, up 37% YoY.

🔄 What Changed
Revenue grew 37% YoY to ₹428 crore; PAT grew 91% YoY to ₹35 crore; EBITDA margin improved to 20%; steady state occupancy rose to 90%; VAS revenue contribution increased from 11% to 17%.

🔮 What's Next
The company expects to sustain momentum with continued expansion in North India, targeting operational breakeven at 55-60% occupancy and maintaining healthy balance of scale, profitability & capital efficiency.

💡 Investor Takeaway
Shareholders see accelerating profitability and margin expansion driven by scale, occupancy growth, and higher-margin value-added services.

Indiqube Spaces reported its highest quarterly revenue of ₹428 crore for Q1 FY27, up 37% YoY, driven by strong occupancy growth to 90% steady state and expanding value-added services. EBITDA rose 34% to ₹87 crore, EBIT grew 59% to ₹55 crore, and PAT surged 91% to ₹35 crore, with margins improving to 20%, 13%, and 8% respectively. The company highlighted robust demand, 137 centers across 17 cities, and ₹52 crore in new signed deals.

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About Indiqube Spaces Limited (INDIQUBE)

Services · Commercial Services & Supplies · Listed on NSE

Market Cap: ₹3,553.72 Cr

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🔥 Also filed on 12 August 2026

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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