Indiqube Spaces Limited · NSE:INDIQUBE

Indiqube Spaces — Q1 FY27 Earnings Presentation

34 slides from Indiqube Spaces's earnings presentation, August 2026

Slide 4: We Are India's Integrated Managed Spaces Platform!
We Are India’s Integrated Managed Spaces Platform! 4| ©2026 INDIQUBE SPACES LIMITED
Slide 5: Reflections from Leadership
Reflections from Leadership Q1 FY27 marks a very strong start to the year, with IndiQube delivering its highest ever quarterly revenue of ₹428 crore, reflecting 37% YoY growth. What is equally encouraging is the quality of this growth, with profitability strengthening across every key metric. EBITDA
Slide 7: Highest Quarterly Revenue, Strong Growth in Profitability
Highest Quarterly Revenue, Strong Growth in Profitability Q1 FY27 Revenue EBITDA EBIT PAT ₹428 Crores ₹87 Crores ₹55 Crores ₹35 Crores ▲ 37% | ₹313 Cr in Q1 FY26 ▲ 34% | ₹65 Cr in Q1 FY26 ▲ 59% | ₹34 Cr in Q1 FY26 ▲ 91% | ₹19 Cr in Q1 FY26 EBITDA Margin EBIT Margin PAT Margin 20% 13% 8% Vs 21% in Q1
Slide 8: Key Financial Indicators
Key Financial Indicators Net Worth (₹ Cr) Net Debt (₹ Cr) EPS (Annualized) PARTICULARS Q3 Q1 FY26 FY25 Q3Q1 FY27 FY26 Gross Debt 377 278 1300 9 1194 Bank Balances 0 325 Other than Cash & Cash Equivalent 1100 8 6.6 Cash & Cash Equivalents 0 18 7 900 Net Debt (A)* 377 (66) 6 Net Worth (B) 395 1194 700
Slide 9: Profit & Loss Statement
Profit & Loss Statement ₹ Cr PARTICULARS Q1 FY27 Q4 FY26 Q1 FY26 Revenue 428 407 313 Recurring Revenue 395 372 307 One Time Revenue 33 35 7 Expenses 342 327 248 Purchase of Traded Goods 27 26 10 Employee Benefit Expense 24 24 20 Other expenses 291 276 218 EBITDA 87 80 65 EBITDA Margin % 20% 20% 21%
Slide 10: Reconciliation of IGAAP Equivalent & Ind AS
Reconciliation of IGAAP Equivalent & Ind AS ₹ Cr Q1 FY27 Q4 FY26 Q1 FY26 PARTICULARS IGAAP IGAAP IGAAP Ind AS Ind AS Adj. Ind AS Ind AS Adj. Ind AS Ind AS Adj. Eq. Eq. Eq. Revenue from operations 423 (6) 428 401 (5) 407 309 (4) 313 Other income 26 18 8 24 16 8 15 15 0 Total Income 449 13 436 426 11
Slide 11: Reconciliation of IGAAP Equivalent & Ind AS
Reconciliation of IGAAP Equivalent & Ind AS ₹ Cr Q1 FY27 Q4 FY26 Q1 FY26 PARTICULARS IGAAP IGAAP IGAAP IGAAP Ind AS Ind AS Adj. Ind AS Ind AS Adj. Ind AS Ind AS Adj. Eq. Eq. Eq. Eq. Revenue from operations 423 (6) 428 401 (5) 407 309 (4) 313 Other income 26 18 8 24 16 8 15 15 0 Total Income (A) 449
Slide 12: Cash EBIT & Adjusted Cash EBIT
Cash EBIT & Adjusted Cash EBIT ₹ Cr PARTICULARS Q1 FY27 Q4 FY26 Q1 FY26 Revenue from operations 423 401 309 Less : Purchases of traded goods 27 26 10 Less : Employee benefits expense 24 24 20 Less : Other expenses 113 103 91 Expenses 165 153 121 Less : Payment of lease liabilities 190 185 140 Cash E
Slide 14: Pan-India Growth with Strong Steady State Occupancy
Pan-India Growth with Strong Steady State Occupancy Q1 FY27 Area Under Management Centers Cities No of Seats 10.61 Mn Sq.ft. 137 17 236 K ▲ 22% | 8.7 Mn Sq.ft. in Q1 FY26 ▲ 14% | 120 Centers in Q1 FY26 8 Tier I & 9 Tier II Cities ▲ 22% | 193 K Seats in Q1 FY26 Steady State Occupancy Key Highlights O
Slide 15: Growth Runway with 3.87 Mn Sq.Ft. in Occupancy Headroom
Growth Runway with 3.87 Mn Sq.Ft. in Occupancy Headroom Current Portfolio & Locked Future Supply Mn Sq.ft. 10.61 LOI Signed & yet 2.77 to be Rent Paying 7.84 Rent Paying & yet 6.74 1.1 to be Rent Yielding 7.84 6.74 Rent Yielding Area Rent Paying Area Area Under Management Series 1 Series 2 Series 3
Slide 16: Expanding Footprint with Improving Steady State Occupancy
Expanding Footprint with Improving Steady State Occupancy Area Under Management Rent Paying Area Rent Yielding Area Steady State Occupancy % Mn Sq.ft. 10.61 90% 9.66 88% 8.70 87% 7.84 7.84 6.50 6.74 6.33 5.54 22% 21% 21% Q1 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q4 FY26 Q1 FY27 YoY Growth 16 | Occupancy % : R
Slide 17: Asset Liability Management
Asset Liability Management Operational Breakeven 6M 55%–60% Occupancy In one cycle of ~3 years, client lock in, Center reaches operational breakeven at 55–60% occupancy landlord lock in, and capex payback are aligned, enabling full recovery of interior and renovation fit out capex, thereby Steady St
Slide 18: Acquiring Supply, The India Way!
Acquiring Supply, The India Way! Full Buildings Renovated Properties Tech Parks 55% 23% 20% Metro Proximity Supply acquisition strategy that evolves with micromarket 82% No of Centers < 3 KM from operational & planned Talent Catchments metro stations Hub & Spoke approach to expand reach and efficien
Slide 19: Fostering Workspaces For Large Size, Long Stay Enterprises
Fostering Workspaces For Large Size, Long Stay Enterprises Clients Brand Led Acquisition GCC Share Multi Center Clients 855 62% 53% 41% PAN India 2.03% | Brokerage to Ops Revenue Revenue Contribution Revenue Contribution Startups Client Lease Duration 0-50 Seats 51-100 in Months Seats 11% GCCs 0-50
Slide 20: Scaling Horizons Across India's Growth Corridors
Scaling Horizons Across India’s Growth Corridors Tier I Tier II Bangalore Coimbatore 76 Centers | 6.68M Sq. ft | 148K Seats 5 Centers | 457K Sq. ft | 10K Seats Kochi Chennai 4 Centers | 140K Sq. ft | 3K Seats 16 Centers | 1.17M Sq. ft | 26K Seats Madurai Pune 1 Center | 37K Sq. ft | 1K Seats 11 Cent
Slide 21: Growing Contribution of Value-Added Services
Growing Contribution of Value-Added Services VAS Recurring VAS One Time VAS Total ₹ Cr 72 39 34 33 27 7 Q1 FY26 Q1 FY27 11% 17% VAS % Ops Revenue 21 | Increasing VAS One Time Revenue : While one time VAS projects drove a higher VAS contribution in Q1 FY27, such revenues are expected to remain a recu
Slide 22: Digital Workplaces Powered by MiQube Tech Stack
Digital Workplaces Powered by MiQube Tech Stack MiQube Transactions Volume 148K+ in 000’s Lifetime App Downloads 462 352 1.5 Mn+ Transactions in FY26 ▲ 31% 4.0 Stars on Play Store Q1 FY26 Q1 FY27 22 | ©2026 INDIQUBE SPACES LIMITED
Slide 24: Key Questions Addressed for Investors
Key Questions Addressed for Investors Q. Is the Company profitable ? Yes, the Company is PAT positive and has consistently paid income tax. The accounting loss reported under Ind AS is largely due to Ind AS 116, which records noncash depreciation on Right of Use assets and interest on lease liabilit
Slide 25: Key Questions Addressed for Investors
Key Questions Addressed for Investors Q. How to perceive Lease Liability in our business? A lease liability is the accounting value of future rent payable on leased properties. Under Ind AS 116, this amount is shown on the balance sheet even though it is not a traditional loan or borrowing. IndiQube
Slide 27: Glossary (1/6)
Glossary (1/6) Term Description AUM Total Area Under Management, comprising both Rent Paying Area & LOI Signed and yet to be Rent Paying Area. Rent Paying Area Also referred to as Operational Area, represents the area available for client occupancy where we are currently paying rent to the landlord
Slide 28: Glossary (2/6)
Glossary (2/6) Term Description IndiQube Grow ‘IndiQube Grow’, which serves as our solution for providing plug and play workspaces that incorporate interiors, technology, facility management and VAS. IndiQube Grow represents a holistic workplace solution, encompassing the essential elements required
Slide 29: Glossary (3/6)
Glossary (3/6) Term Description Revenue Revenue from operations plus income on finance lease EBITDA EBITDA is calculated as profit / loss after tax plus tax expense, finance cost, depreciation and amortization expense for the period EBITDA margin (%) EBITDA margin is calculated as EBITDA divided by
Slide 30: Glossary (4/6)
Glossary (4/6) Term Description Net Worth Net worth represents total equity plus reserve and surplus, excluding share application money pending allotment Net Debt Net debt is calculated as total borrowings minus cash and cash equivalents and bank balances (other than cash and cash equivalents) for t
Slide 31: Glossary (5/6)
Glossary (5/6) Term Description Revenue from operations Revenue from operations means revenue from rental income, finance lease, electricity charges, maintenance charges, sale of goods and other ancillary services for the period Lease Liability Lease Liability is the financial obligation to make lea
Slide 32: Glossary (6/6)
Glossary (6/6) Term Description ROU ROU asset represents the present value of the premises, that the company has the right to occupy and use, based on the lease agreement Depreciation on ROU Depreciation on ROU Asset is the expense recorded to spread the cost of a Right-of-Use asset, representing th
Slide 33: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the da
Slide 34: Thank You
Thank You Mr. Pawan Jain Mr. Anuj Sonpal CFO Founder & CEO CIN : L45400KA2015PLC133523 Tel: +91-22-4903 9500 cs.compliance@indiqube.com indi@valoremadvisors.com https://indiqube.com/ http://valoremadvisors.com/indiqube

Indiqube Spaces — Q1 FY27 Earnings Presentation on 6ix

Indiqube Spaces — Q1 FY27 Earnings Presentation

Slide 1: ©2026 INDIQUBE SPACES LIMITED

Slide 2: IndiQube's Growth Journey

Slide 3: ©2026 INDIQUBE SPACES LIMITED

Slide 4: We Are India's Integrated Managed Spaces Platform!

Slide 5: Reflections from Leadership

Slide 6: ©2026 INDIQUBE SPACES LIMITED

Slide 7: Highest Quarterly Revenue, Strong Growth in Profitability

Slide 8: Key Financial Indicators

Slide 9: Profit & Loss Statement

Slide 10: Reconciliation of IGAAP Equivalent & Ind AS

Slide 11: Reconciliation of IGAAP Equivalent & Ind AS

Slide 12: Cash EBIT & Adjusted Cash EBIT

Slide 13: ©2026 INDIQUBE SPACES LIMITED

Slide 14: Pan-India Growth with Strong Steady State Occupancy

Slide 15: Growth Runway with 3.87 Mn Sq.Ft. in Occupancy Headroom

Slide 16: Expanding Footprint with Improving Steady State Occupancy

Slide 17: Asset Liability Management

Slide 18: Acquiring Supply, The India Way!

Slide 19: Fostering Workspaces For Large Size, Long Stay Enterprises

Slide 20: Scaling Horizons Across India's Growth Corridors

Slide 21: Growing Contribution of Value-Added Services

Slide 22: Digital Workplaces Powered by MiQube Tech Stack

Slide 23: ©2026 INDIQUBE SPACES LIMITED

Slide 24: Key Questions Addressed for Investors

Slide 25: Key Questions Addressed for Investors

Slide 26: ©2026 INDIQUBE SPACES LIMITED

Slide 27: Glossary (1/6)

Slide 28: Glossary (2/6)

Slide 29: Glossary (3/6)

Slide 30: Glossary (4/6)

Slide 31: Glossary (5/6)

Slide 32: Glossary (6/6)

Slide 33: Disclaimer

Slide 34: Thank You