Indiqube Spaces
- Market cap
- ₹ 3,259 Cr.
- P/B
- 6.68x
- 52-week range
- 131.15 – 232.01
- ROE
- −42%
- ROCE
- 6%
- Dividend yield
- 0%
- Debt / equity
- 10.12
- Sector
- Commercial Services & Supplies
- Industry
- Diversified Commercial Services
- Listed on
- NSE, BSE
About
IndiQube Spaces Limited is a managed workplace solutions company offering comprehensive, sustainable, and technology-driven workplace solutions dedicated to transforming the traditional office experience. Its diverse solutions range from providing large corporate offices (hubs) to small branch offices (spokes) for enterprises and transforming the workplace experience of their employees by combining interiors, amenities and a host of value-added services (VAS). The Company complements its solutions through backward and forward integration capabilities. While backward integration focuses on asset renovation, upgradation, and customized build-to-suit models, forward integration enables it to provide business-to-business (B2B) and business-to-customer (B2C) VAS to clients and their employees. The Company has developed four additional verticals that extend and complement its core offering, including IndiQube Bespoke, IndiQube One, MiQube, and IndiQube Cornerstone.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Diversified Commercial Services: 149 companies →Indiqube Spaces against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Sales growth+36.9% against a typical +14.1% from a year earlier.39th of 115
- Share price, 3 months−2.1% against a typical −8.9%.49th of 121
- Size₹ 3,259.1 Cr. market value against a typical ₹ 68.8 Cr. (1st = largest).9th of 128
Latest announcements
Exchange filings and their impact on the company.
- Indiqube to invest up to Rs35 crore for up to 49% of new office developer SaiEdge to secure future leased workspace.
Indiqube Spaces board on October 19, 2026 approved an investment of up to Rs35 crore in SaiEdge Realty, a company incorporated in July 2026 to develop commercial office space, for up to 49% on a fully diluted basis. SaiEdge has Rs1 lakh paid-up capital and no turnover yet, and Indiqube plans to lease the offices once developed. The board also noted resignation of independent director A.G. Muralikrishnan and appointed Ishwar Subramanian as additional independent director. The SaiEdge deal is small and strategic to secure future workspace supply, with no sales or profit expected in the next year.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A+ by CRISIL- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil A+ | Stable | 30 Mar 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 30 Mar 2026 | Reaffirmed | Crisil A+ | — | CRISIL | ₹ 357.96 Cr. | |
| 7 Nov 2025 | Reaffirmed | Crisil A+ | — | CRISIL | ₹ 357.96 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 12 Aug 2026 | Financial Results/Other business matters | Meeting of the Board of Directors of Indiqube Spaces Limited (the Company) is scheduled to be held on Wednesday, August 12, 2026, inter alia, to consider and approve the unaudited financial results of the Company for the quarter ended June 30, 2026. |
| 20 May 2026 | Financial Results/Other business matters | We wish to inform you that a meeting of the Board of Directors of Indiqube Spaces Limited (the Company) is scheduled to be held on Wednesday, May 20, 2026, inter alia, to consider and approve the audited financial results of the Company for the quarter and year ended March 31, 2026. |
| 10 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 8 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 12 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 242 | 252 | 268 | 297 | 309 | 350 | 390 | 401 | 423 |
| Expenses | 98 | 107 | 110 | 127 | 121 | 142 | 153 | 153 | 164 |
| Operating Profit | 144 | 145 | 158 | 170 | 188 | 208 | 237 | 248 | 258 |
| OPM % | 59% | 57% | 59% | 57% | 61% | 59% | 61% | 62% | 61% |
| Other Income | 9 | 12 | 13 | 10 | 15 | 16 | 21 | 24 | 26 |
| Interest | 74 | 79 | 86 | 91 | 110 | 107 | 112 | 119 | 127 |
| Depreciation | 118 | 122 | 117 | 130 | 143 | 156 | 169 | 177 | 188 |
| Profit before tax | −39 | −44 | −33 | −41 | −50 | −39 | −23 | −24 | −31 |
| Tax % | 7% | 20% | −58% | −24% | −26% | −23% | −26% | −5% | −22% |
| Net Profit | −42 | −53 | −14 | −31 | −37 | −30 | −17 | −23 | −24 |
| EPS in Rs | — | — | — | — | −2.01 | −1.42 | −0.81 | −1.07 | −1.13 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 38%
- 3 Years
- 36%
- TTM
- 39%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 14%
- TTM
- 30%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
Peers
Listed companies in the same business.
| Indiqube Spaces | ₹ 176.00 | ₹ 3,259 Cr. | — | 6.7x | −42% | — |
| Prestige Estates Projects | ₹ 1,400.00 | ₹ 60,302 Cr. | 61x | 4.5x | 7.5% | 10.3% |
| Embassy Office Parks REIT | ₹ 422.00 | ₹ 40,001 Cr. | 54.6x | 2.1x | 4.3% | 20.3% |
| Nexus Select Trust | ₹ 158.12 | ₹ 23,955 Cr. | 62.2x | 1.9x | 3% | 15.7% |
| WeWork India Management | ₹ 630.90 | ₹ 8,782 Cr. | 62.8x | 30.8x | — | 3.2% |
| NESCO | ₹ 988.20 | ₹ 6,963 Cr. | 18.4x | 2.6x | 14.7% | 44.3% |
Management
- Rishi Das
- Executive Chairman of the Board, Chief Executive Officer
- Pawan Jaichandbhai Jain
- Chief Financial Officer
- Meghna Agarwal
- Chief Operating Officer, Executive Director
- Bhasker Dubey
- Compliance Officer, Company Secretary
- Deepak Dadhich
- Chief Business Officer
Prices are delayed and for information only. Nothing on this page is investment advice.