IndiQube Q2 FY27: revenue ₹475 crores with PAT up 63% on the company's IGAAP-equivalent basis
Q2 FY27 revenue ₹475 Crores, up 34% from ₹354 Cr; EBITDA ₹105 Crores, up 40%; PAT ₹57 Crores, up 63%.
By ScoutQuest · · 1 min read
- Q2 FY27 Revenue
- ₹475 Crores, up 34% from ₹354 Cr
- Q2 FY27 EBITDA
- ₹105 Crores, up 40% (margin 22% from 21%)
- Q2 FY27 PAT
- ₹57 Crores, up 63% (margin 12% from 10%)
- Period
- Q2 & H1 FY27 ended September 30, 2026
- Positioning
- IndiQube describes itself as a pan-India managed-workspace platform with 10.86 Mn Sq.ft. across 138 centers in 17 cities (8 Tier I, 9 Tier II), 241K seats and 91% steady-state occupancy.
📈 Q2 FY27 revenue was ₹475 Crores, up 34% from ₹354 Cr in Q2 FY26, with EBITDA of ₹105 Crores (up 40%), EBIT of ₹68 Crores (up 42%) and PAT of ₹57 Crores (up 63%) on the company's IGAAP-equivalent basis; EBITDA margin improved to 22% from 21%, EBIT to 14% from 13% and PAT to 12% from 10%.
📉 On the reported Ind AS profit and loss statement, Q2 FY27 revenue from operations was ₹472 crores against ₹350 crores a year earlier, but the company still recorded a loss after tax of ₹6 crores (Q2 FY26: ₹30 crores loss); the H1 FY27 loss after tax narrowed to ₹30 crores from ₹67 crores, after finance costs of ₹256 crores and depreciation and amortisation of ₹383 crores.
📌 Operating scale grew, with area under management at 10.86 Mn Sq.ft. (up 19%), 241K seats (up 19%) and 138 centers (up 10%) across 17 cities; steady-state occupancy rose to 91% from 89%, but overall occupancy slipped to 86% from 87% in Q2 FY26.
📉 H1 FY27 free cash flow overall was negative at ₹(81) crores after ₹203 crores of total capex, while gross debt rose to ₹288 crores from ₹278 crores; net debt stood at ₹(15) crores and cost of borrowing fell to 8.25% from 9.4%, with a CRISIL A+ stable rating cited.
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More numbers
- Revenue, Q2 FY27₹475 Crores
- EBITDA, Q2 FY27₹105 Crores
- PAT (IGAAP equivalent), Q2 FY27₹57 Crores
- Area under management, Q2 FY2710.86 Mn Sq.ft.
- Overall occupancy, Q2 FY2786%
- Revenue from operations (reported), Q2 FY27472 (₹ Cr)
- Loss after tax (reported), Q2 FY27(6) (₹ Cr)
- Free cash flow - overall, H1 FY27(81) (₹ Cr)
- Gross debt, H1 FY27288 (₹ Cr)
- Cost of borrowing, H1 FY278.25%
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