The company also posted its highest-ever quarterly revenue of ₹395 crore in Q3 FY26, registering a 45% growth compared with ₹273 crore in the corresponding period last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 82% year-on-year to ₹82 crore, while EBIT increased 128% to ₹54 crore.
For the nine months ended December 2025, IndiQube reported revenue of ₹1,063 crore, up 37% YoY, while PAT stood at ₹95 crore, reflecting a 284% increase. The company’s return on capital employed (ROCE) improved to 23% in Q3 FY26, compared with 15% a year earlier. IndiQube also strengthened its balance sheet with its debt-to-equity ratio improving to 0.15 from 0.80 in the year-ago period.
IndiQube delivered a strong performance, with record quarterly revenue of ₹395 Cr in Q3 FY26 growing at 45% YoY. With healthy revenue of ₹1,063 Cr in 9-Months of FY26, the business continues to demonstrate high earnings visibility, supported by annuity led revenue mix, with recurring revenues contributing 94%.
“Profitability continued to strengthen, with PAT for 9-Months FY26 increasing to ₹95 Crores, reflecting our consistent focus on building a profitable and resilient business. With a healthy EBITDA margin of 21% in Q3 FY26, we see continued stability in our margins and look forward to a strong closure for the financial year in Q4,” said Rishi Das, Cofounder & CEO, IndiQube.
Operationally, the company continued to scale its national footprint. IndiQube added nearly 1.5 million sq ft of area under management (AUM) over the past year, taking its total portfolio to 9.55 million sq ft. Seating capacity expanded by approximately 33,000 seats, reaching over 212,000 seats.
During the period, IndiQube entered three new cities — Bhubaneswar, Indore and Kolkata — expanding its presence to 17 cities. The company added 21 new centres, taking its total portfolio to 129 properties, while maintaining portfolio occupancy at 84%, up from 81% in Q3 FY25.“Q3 FY26 marked significant momentum across our growth & capability expansion. Compared to Q3 FY25, we have expanded by 1.5 Mn sq.ft, added 33K seats, launched 21 new centers, and entered 3 new cities. Our entry into Bhubaneswar strengthens IndiQube’s footprint to 17 cities, reinforcing our position across India workspace platform,” said Meghna Agarwal, Co-founder, IndiQube.
“Our Bespoke Design & Build offering continues to gain strong traction, with 66,000 sq. ft. signed across two projects in Guwahati and Chennai. This momentum reaffirms our ability to scale value added services beyond our core leasing footprint and address a wider spectrum of enterprise requirements,” she said.
The firm leased 38,000 sq. ft. of workspace in Bangalore to one of India’s oldest law firms.The company’s credit profile remains strong, with CRISIL reaffirming its ‘A+’ rating with a stable outlook.
IndiQube said that while it recorded a current tax expense of ₹13 crore during the nine-month period, a notional loss was recognised under Ind AS accounting norms, largely due to lease accounting adjustments. Under Ind AS reporting, the company posted an EBITDA margin of 61% and a net loss of ₹17 crore. The variation arises mainly from non-cash accounting impacts, including depreciation on right-of-use assets and interest on lease liabilities, the company said.
IndiQube provides managed workspace solutions for startups, global capability centres and large enterprises, and continues to focus on scaling design-led and technology-integrated workspaces across India.