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Indiqube Spaces Ltd

Q1 FY26Commercial Services & Supplies

Indiqube Spaces Q1 FY26 earnings call: Revenue & Margins

Q1 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹189
Market cap₹3.8K Cr
Updated23 Aug 2026
Read4 min read

The short version

IndiQube expects to maintain a consistent growth trajectory in recurring revenue, targeting 10-15% growth in value-added services in upcoming quarters. IndiQube expects to maintain ~30% year-on-year revenue growth supported by new center additions and improved occupancy.

From Indiqube Spaces Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • IndiQube expects to maintain a consistent growth trajectory in recurring revenue, targeting 10-15% growth in value-added services in upcoming quarters.
  • The company has a 2.2 million sq ft headroom in rentable area expected to become operational within 6-12 months, translating to approx. 1.87 million sq ft of additional rent-yielding area at 85% occupancy.
  • Area under management (AUM) increased by about 1 million sq ft year-on-year, with leased (occupied) area up from 4.47 million to 5.54 million sq ft, indicating continued expansion.
  • Revenue grew 27% YoY to Rs. 313 crores in Q1 FY’26, with the expectation to sustain this growth rate going forward.

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Profitability & Margins

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Capital Expenditure Plans

  • Capital expenditure (CAPEX) is a blended Rs. 1,500 per square feet including new fit-outs and renovations.
  • Around 30% of properties are renovated buildings, which are acquired at 20%-25% cheaper rates, offering better EBITDA margins.
  • Renovation CAPEX typically has a good payback, included in the Rs. 1,500 per sqft.
  • The company consciously maintains the Rs. 1,500 per sqft CAPEX but invests more to improve the quality of interiors rather than reducing cost.
  • Future CAPEX per square feet is expected to remain around Rs. 1,500, focusing on improving quality.

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Top-ranked in Commercial Services & Supplies

Ranked on what management guided this quarter

Guidance-ranked
1Happy Square
Rev 1Mar 1
Rev 2Mar 1
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

The transcript does not explicitly mention any current or expected orderbook or pending orders for IndiQube Spaces Limited. However, relevant insights related to growth and future pipeline include: - Area under management (AUM) is 8.7 million sq. ft., with rent-paying area at 6.5 million sq. ft., leaving a headroom of 2.2 million sq. ft. expected to become operational in the next 6-12 months. - Occupancy is currently at 85%, with potential to lease an additional 1.87 million sq. ft. from existing AUM without new additions. - IndiQube added nearly 1 million sq. ft. of area and 17 new centers in Q1 FY ‘26, expanding into two new cities, Kolkata and Mohali.

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Indiqube Spaces Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹401 Cr, net loss ₹23 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Indiqube Spaces Ltd Q1 FY26 results?

IndiQube expects to maintain a consistent growth trajectory in recurring revenue, targeting 10-15% growth in value-added services in upcoming quarters. IndiQube expects to maintain ~30% year-on-year revenue growth supported by new center additions and improved occupancy.

What is Indiqube Spaces Ltd share price analysis?

Indiqube Spaces Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹3,816 Cr. Investors should review the full earnings analysis for detailed insights.

Is Indiqube Spaces Ltd planning capital expenditure?

Capital expenditure (CAPEX) is a blended Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.