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• IndiQube Spaces reported a net loss of INR 106.34 crore in FY26 despite growth in revenue and office portfolio.
• The company’s total income increased to INR 1,527.51 crore during the financial year.
• IndiQube expanded its presence to 17 cities with 130 properties and over 9.66 million sq ft under management.
• Seat capacity rose to around 2.15 lakh seats, while occupancy remained stable at 88%.
• The company also reduced leverage significantly, with debt-to-equity ratio improving to 0.08 from 0.9 in FY25.
Managed workspace operator IndiQube Spaces reported a consolidated net loss of INR 106.34 crore for FY26, even as the company continued to expand its flexible office business across major Indian cities. The company’s total income during the financial year rose to INR 1,527.51 crore, reflecting growth in leasing activity, enterprise demand and additions to its managed office portfolio. Advertisement
In the fourth quarter of FY26, IndiQube posted a loss after tax of INR 22.65 crore, while quarterly total income stood at INR 425.71 crore. The company has continued to invest in expansion, new centres and workspace fit-outs, which have added to operational costs during the year.
The Bengaluru-based flexible workspace company expanded its footprint to 17 cities and currently operates 130 properties across the country. Co-founder Meghna Agarwal said the company now manages more than 9.66 million sq ft of office space and added nearly 28,000 seats during FY26 while maintaining occupancy levels at 88%.
The company’s total seat capacity increased to around 2.15 lakh seats during the year. IndiQube also added 15 new centres as demand for managed workspaces and hybrid office solutions remained steady among corporates, startups and global capability centres (GCCs).
Over the past year, IndiQube strengthened its presence in key office markets including Bengaluru, Chennai and Pune, while also entering emerging business destinations such as Bhubaneswar. The company has been focusing on enterprise-led growth through long-term managed office and design-build contracts.
India’s flexible workspace sector has seen strong growth over the last few years, driven by rising demand for scalable office solutions and hybrid work models. Large occupiers, including technology companies, consulting firms and GCCs, have increasingly shifted towards managed office spaces to reduce capital expenditure and improve workplace flexibility.
IndiQube’s balance sheet position improved significantly during FY26. The company’s debt-to-equity ratio reduced to 0.08 from 0.9 in FY25, indicating lower dependence on debt and improved financial discipline. Earlier, the company had also reported improvement in recurring revenue and operating performance, although depreciation and finance costs continued to impact profitability.
The company has been actively securing leasing and workspace management mandates from enterprise clients across sectors such as technology, fintech and professional services. Industry experts believe demand for flexible office spaces is likely to remain strong as companies continue to adopt distributed workplace strategies and flexible leasing models.
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