Press Release for the period ended March 31,2026
INDIQUBE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
IndiQube Spaces reported record FY26 results with revenue of ₹1,469 crore, up 37% YoY, and PAT of ₹125 crore, surging 145% YoY. Operating cash flow jumped 147% to ₹304 crore, while the debt-to-equity ratio dramatically improved to 0.08 from 0.9 in FY25. The company operates 130 properties across 17 cities with 215,000 seats and maintained 88% occupancy. Under Ind AS accounting, the company reported an EBITDA margin of 61% but a net loss of ₹103 crore due to non-cash Ind AS 116 adjustments (depreciation on ROU assets and interest on lease liabilities), which do not affect underlying operating performance. CRISIL has reaffirmed the company's 'A+' stable rating.
The company demonstrates strong operational profitability and significant deleveraging, which could be positive for the stock. However, the large gap between Ind AS and IGAAP-equivalent reported numbers may cause confusion among investors unfamiliar with lease accounting standards.