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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Indiqube Spaces Ltd

IndiQube Spaces Q2 FY27 Revenue ₹475 Cr, PAT ₹57 Cr; H1 Revenue ₹904 Cr

RESULTS ▲ Positive Development LOW RISK
📅 Filed on BSE: 03 Nov 2026, 07:21 PM IST  ·  BSE ID: 19bc4464-d23f-4b4a-b17e-ee5b6a0a3363
View Original BSE Filing (PDF)
💡
In Simple Terms
IndiQube Spaces announced strong financial results, with significantly higher sales and profits for the quarter and half year ending September 2026.
🤖 AI Summary
  • IndiQube Spaces reported Q2 FY27 revenue of ₹475 Cr, marking a 34% year-on-year growth.
  • Profit After Tax (PAT) for Q2 FY27 increased by 63% YoY to ₹57 Cr, with a PAT margin of 12%.
  • First half (H1 FY27) revenue reached ₹904 Cr, while PAT for H1 FY27 grew 66% to ₹92 Cr.
  • Q2 FY27 EBITDA was ₹105 Cr, up 40% YoY, with an EBITDA margin of 22%.
  • Area Under Management grew by 1.72 Mn sq. ft. YoY to 10.86 Mn sq. ft. across 138 centers.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Q2 FY27 Revenue (IGAAP Eq.)
₹475 Cr
34%
Q2 FY27 PAT (IGAAP Eq.)
₹57 Cr
63%
H1 FY27 Revenue (IGAAP Eq.)
₹904 Cr
35%
H1 FY27 PAT (IGAAP Eq.)
₹92 Cr
66%
Area Under Management
10.86 Mn sq. ft.
🏢 How This Affects the Company
📈
Business Impact
The growth in revenue and Area Under Management, with 138 properties across 17 cities and 884 clients, strengthens IndiQube's market position as an integrated managed spaces platform. Increased contribution from GCCs (54% of revenue) and multicenter clients (41%) indicates robust demand from large enterprises.
💰
Financial Impact
Enhanced profitability, with Q2 FY27 PAT margin at 12% and H1 FY27 PAT margin at 10%, demonstrates operating leverage. Value Added Services revenue grew 74% to ₹154 Cr in H1 FY27, contributing 17% of operating revenue, diversifying the revenue mix.
⚙️
Operational Impact
Expansion of Area Under Management by 1.72 Mn sq. ft. YoY to 10.86 Mn sq. ft. and the addition of 13 new centers YoY reflect increased operational capacity. A steady state occupancy of 91% across 241K seats indicates efficient asset utilization.
⚠️
Risk Impact
The CRISIL 'A+' (Stable) credit rating reaffirms financial strength, potentially reducing financing risks. The detailed reconciliation between Ind AS and IGAAP-equivalent financials addresses accounting adjustments, clarifying underlying operating strength.
👥 What This Means For Shareholders
✅
Action Required
No action is required from shareholders based on this financial results filing.
👤
Who Is Affected
All shareholders are affected by the company's Q2 and H1 FY27 financial performance, which shows significant growth in revenue and profitability.
🔍
Management Signal
Management's focus on growing with financial discipline, strengthening margins, and maintaining balance between scale, profitability, and capital efficiency is clear from the results and commentary.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Q3 FY27 results — monitor sustained revenue and PAT growth.
Analyst call on November 04, 2026 — gain insights into future strategy.
Update on Area Under Management — track continued operational expansion.
LOW RISK Strong financial performance and a stable credit rating indicate a low risk profile for core operations.
💡 Investor Takeaway
IndiQube Spaces reported Q2 FY27 revenue of ₹475 Cr, a 34% YoY increase, with PAT of ₹57 Cr, up 63% YoY. H1 FY27 revenue reached ₹904 Cr and PAT grew 66% to ₹92 Cr, reflecting strong financial discipline and operational scaling.
⚖️ Strengths & Concerns

✅ Positives

  • Q2 FY27 Revenue grew 34% YoY to ₹475 Cr, representing the company's highest ever quarterly revenue.
  • H1 FY27 PAT increased by 66% to ₹92 Cr, demonstrating strong profitability and operating leverage.

⚠️ Concerns

  • While underlying operations are strong, the company reported a notional net loss of ₹6 Cr under Ind AS for Q2 FY27.
  • Ind AS reporting shows higher depreciation on Right-of-Use (ROU) assets and interest on lease liabilities, impacting reported net profit under Ind AS.
📅 Company Track Record
IndiQube Spaces previously announced board meetings for Q2 and H1 FY27 results on October 29, 2026, and for Q1 FY27 results on August 4, 2026. The company also scheduled an analyst call for Q4 FY26 results on May 21, 2026, following a board meeting on May 20, 2026.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was IndiQube Spaces' revenue for Q2 FY27?
IndiQube Spaces reported revenue of ₹475 Cr for Q2 FY27, representing a 34% year-on-year growth.
What was the Profit After Tax (PAT) for IndiQube Spaces in Q2 FY27?
The Profit After Tax (PAT) for IndiQube Spaces in Q2 FY27 was ₹57 Cr, which is a 63% year-on-year increase.
What were IndiQube Spaces' H1 FY27 financial highlights?
For H1 FY27, IndiQube Spaces recorded revenue of ₹904 Cr, with Profit After Tax (PAT) growing 66% to ₹92 Cr.
What is IndiQube Spaces' Area Under Management as of H1 FY27?
As of H1 FY27, IndiQube Spaces' Area Under Management increased by 1.72 Mn sq. ft. YoY, reaching a total of 10.86 Mn sq. ft.
What is IndiQube Spaces' current credit rating?
IndiQube Spaces holds a CRISIL 'A+' (Stable) credit rating, reaffirming its financial strength.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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