IndiQube’s Year-on-Year Growth in Q1 FY27

IndiQube reported a remarkable 36.9% year-on-year growth in operational revenue for Q1 FY27, alongside a 35% reduction in losses during the same quarter. The company’s operational revenue reached Rs 423 crore in Q1 FY27, an increase from Rs 309 crore reported in Q1 FY26, as per financial statements obtained from the National Stock Exchange (NSE).

Company Overview

Established in 2015, IndiQube offers managed workspace solutions to startups, enterprises, and small to medium enterprises (SMEs), with a broad presence in major Indian cities. The firm also disclosed Rs 26 crore in other income for the quarter, bringing its total income to Rs 449 crore compared to Rs 324 crore in Q1 FY26.

Expense Breakdown

On the expense front, lease-related depreciation constituted the primary cost, increasing by 31.5% year-on-year to Rs 188 crore in Q1 FY27. Financial costs rose to Rs 127.2 crore, while employee benefit costs went up by 18.2% to Rs 23.64 crore.

Moreover, the material costs saw a significant spike of 174.2%, climbing to Rs 27.42 crore from Rs 10 crore in the same quarter last year. Overall, IndiQube’s total expenses jumped 28.1% to Rs 479 crore in Q1 FY27 from Rs 374 crore in Q1 FY26.

Financial Snapshot

In terms of profitability, IndiQube managed to narrow its losses by 35%, amounting to Rs 23.88 crore in Q1 FY27 compared to Rs 36.75 crore in Q1 FY26. Sequentially, operational revenue experienced a 5.3% increase to Rs 422.7 crore in Q1 FY27, up from Rs 401.4 crore in Q4 FY26, while the losses grew by 5.2%, from Rs 22.7 crore to Rs 23.88 crore.

On Wednesday, IndiQube’s shares closed at Rs 183.79 each, placing the company’s market capitalisation at approximately Rs 3,923 crore.