Indiqube Spaces Q1 FY27 Revenue Surges 37% to ₹428 Crore; PAT Jumps 91% to ₹35 Crore
Indiqube Spaces reported a 37% YoY revenue growth to ₹428 crore in Q1 FY27. PAT surged 91% to ₹35 crore, with margins improving. The company added 1.91 million sq ft and launched 17 centers. Value-added services now contribute 17% of revenue, with plans for further increase. Guidance of 2 million sq ft annual addition remains.
The significant growth in revenue and profit, coupled with strategic expansion and margin improvements, is expected to have a substantial positive impact on the company's financial standing and investor confidence.
The company reported strong year-on-year growth in revenue, profit, and key operating metrics, alongside positive operational expansion and strategic initiatives.
Indiqube Spaces Limited announced its financial results for the first quarter of FY27, reporting a significant 37% year-on-year increase in revenue, reaching ₹428 crore. The company also saw a substantial 91% jump in Profit After Tax (PAT), which stood at ₹35 crore. EBITDA grew by 34% to ₹87 crore, and EBIT increased by 59% to ₹55 crore.
The company's operating performance also showed improvements, with EBIT margins expanding to 13% from 11% in the prior year's quarter, and PAT margins growing to 8% from 6%. EBITDA margins remained strong at 20%.
Operationally, Indiqube added 1.91 million square feet to its area under management and launched 17 new centers during the quarter, guided by its 'follow the talent' strategy. The company served 855 clients, with Global Capability Centers (GCCs) contributing 53% of the revenue and multi-center clients accounting for 41%. Nearly 90% of occupants were from clients with over 100 seats, highlighting the enterprise-focused nature of its portfolio.
Sustainability remains a key focus, with 30 megawatts of solar capacity already operational. The company is working towards transitioning its portfolio to 100% green power. Indiqube is also expanding its value-added services (VAS) portfolio, including DesignQube, IndiCare, and Eco, with VAS contribution to revenue growing to approximately 17% and expected to increase further.
The company reaffirmed its guidance to add approximately 2 million square feet annually. New centers typically reach operational break-even within five to six months and steady-state occupancy within nine to twelve months. Indiqube is also expanding its presence in key markets like Hyderabad and Mumbai, alongside its dominant presence in Bangalore.
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