IndiQube Reports 45 Percent Revenue Growth as Profitability Strengthens and Workspace Expansion Accelerates

Managed workspace provider IndiQube Spaces delivered a strong financial performance for the quarter ended December 31, 2025, driven by rapid expansion, growing enterprise demand, and a high proportion of recurring revenue streams. The company reported quarterly revenue of ₹395 crore, reflecting a 45% year-on-year increase, while revenue for the first nine months of the financial year reached ₹1,063 crore, indicating sustained growth momentum across its managed office solutions business.

Profitability improved significantly during the period, with profit after tax for the nine-month period reaching ₹95 crore, supported by strong operating margins and disciplined cost management. The company also reported quarterly PAT of ₹40 crore, representing a sharp year-on-year increase, highlighting improved earnings visibility and operational efficiency.

Operational expansion remained a major driver of performance. IndiQube increased its area under management to about 9.55 million square feet, adding approximately 1.5 million square feet of new space over the past year. Seating capacity expanded by around 33,000 seats, while the company launched 21 new workspace centers and entered three additional cities, strengthening its nationwide footprint across 17 cities and 129 properties.

The company maintained strong financial health, improving its return on capital employed to 23% and significantly reducing its debt-to-equity ratio to 0.15, demonstrating balance-sheet strengthening alongside expansion. Portfolio occupancy remained healthy at about 84%, indicating consistent demand from enterprise customers and growing adoption of flexible workspace solutions.

IndiQube also continued expanding value-added offerings, including bespoke design-and-build services for enterprise clients, and secured new large enterprise leasing deals during the quarter. Management noted that recurring revenues now contribute nearly 94% of total revenue, providing strong earnings visibility and stable cash-flow generation as the company scales its operations across India.