IndiQube posts Rs 395 Cr revenue in Q3 FY26; EBITDA up 82%
For the nine months ended December 2025, the Bengaluru-headquartered company posted revenue of Rs 1,063 crore, marking a 37% year-on-year increase, while profit after tax (PAT) rose 284% to Rs 95 crore.
Managed workspace provider reported a strong revenue growth for the third quarter of FY26, even as losses expanded on a year-on-year basis due to higher operating and financing costs linked to ongoing expansion.
The company posted a revenue of Rs 395 crore in Q3 FY26, registering a 45% growth compared with ₹273 crore in Q3 FY25, according to the company’s financial disclosure with the National Stock Exchange (NSE).
Earnings before interest, tax, depreciation, and amortisation (EBITDA) climbed 82% year-on-year to ₹82 crore, while earnings before interest and tax (EBIT) surged 128% to ₹54 crore.
For the nine months ended December 2025, the Bengaluru-headquartered company posted revenue of Rs 1,063 crore, marking a 37% year-on-year increase, while profit after tax (PAT) rose 284% to Rs 95 crore.
"Profitability continued to strengthen, with PAT for 9M FY26 increasing to ₹95 Crores, reflecting our consistent focus on building a profitable and resilient business. With a healthy EBITDA margin of 21% in Q3 FY26, we see continued stability in our margins and look forward to a strong closure for the financial year in Q4, said Rishi Das, Co-founder and CEO, IndiQube.
The improved profitability came alongside rising costs, reflecting the company’s ongoing expansion. Employee benefit expenses rose 41% year-on-year to Rs 24 crore during the quarter, while finance costs, a significant portion of overall spending, climbed 30% to Rs 112 crore. Its total quarterly expenses increased 39% to Rs 434 crore from Rs 311 crore a year earlier.
As a result, IndiQube reported a quarterly loss of Rs 17 crore, up from Rs 11 crore in Q3 FY25. On a sequential basis, however, losses narrowed from Rs 30 crore in Q2 FY26, suggesting some easing in near-term cost pressures.
During the period, IndiQube expanded its footprint into Bhubaneswar with a 45,000 sq. ft. property, strengthening its footprint to 17 cities. It also added a 44,000 sq. ft. Design and Build project in Chennai for a specialised technology services company and leased over 38,000 sq. ft. workspace to one of India's oldest law firms in Bengaluru.
"Q3 FY26 marked significant momentum across our growth and capability expansion. Compared to Q3 FY25, we have expanded by 1.5 Mn sq.ft, added 33K seats, launched 21 new centers, and entered 3 new cities. Our entry into Bhubaneswar strengthens IndiQube’s footprint to 17 cities, reinforcing our position as a PAN India workspace platform," said Meghna Agarwal, Co-founder, IndiQube.