IndiQube Reports Robust Operating Revenue Growth in Q2 FY27

IndiQube, a renowned provider of managed workspace solutions, shared its financial performance for Q2 FY27 today, showcasing a remarkable 35% year-on-year rise in operating revenue. The company, based in Bengaluru, saw its net loss reduce by 80%, amounting to Rs 5.90 crore for the quarter ending September 2026.

Revenue Growth and Performance

According to financial reports obtained from the National Stock Exchange (NSE), IndiQube’s operational revenue surged to Rs 472 crore in Q2 FY27, up from Rs 350 crore in the same quarter of FY26. For the first half of FY27, the firm’s revenue from operations increased by 35.7%, reaching Rs 895 crore compared to Rs 659.5 crore during the corresponding timeframe of FY26.

Company Overview and Other Income

Established in 2015, IndiQube provides managed workspace solutions tailored for startups, enterprises, and SMEs in key Indian metros. During this quarter, the company also reported an additional Rs 20 crore in other income, resulting in a total income of Rs 492 crore against Rs 367 crore for the same quarter last year.

Cost and Expenses Analysis

For the managed office provider, depreciation on leases remained the largest expense, which grew by 25% year-on-year to Rs 195 crore in Q2 FY27. Finance costs were recorded at Rs 129 crore, whereas employee benefit expenses experienced a slight decrease, amounting to Rs 24.5 crore. Additionally, the cost of materials rose by 11.5% to Rs 29 crore from Rs 26 crore in the same quarter last year. Consequently, the total expenses for IndiQube increased by 23.5% year-on-year, resulting in Rs 500 crore for Q2 FY27 compared to Rs 405 crore in Q2 FY26.

Bottom-Line Improvement

On the net profit front, IndiQube successfully reduced its loss by 80.3%, resulting in a net loss of Rs 5.90 crore in Q2 FY27, down from Rs 29.90 crore in the previous year’s corresponding quarter. Sequentially, operational revenue climbed by 11.6%, reaching Rs 472 crore for Q2 FY27, compared to Rs 423 crore in Q1 FY27. Furthermore, the net loss decreased by 74.8%, dropping from Rs 23.40 crore during the same period.

Market Performance

IndiQube’s stock closed Wednesday’s trading session at Rs 179.15 per share, which positioned the company with a market capitalisation of approximately Rs 3,679 crore.