What we do Indiqube Spaces Ltd offers managed, technology-driven shared workspaces and workplace solutions across India, enabling businesses with scalable and flexible spaces. |
Founded in 2,015 |
Market share Leading pan-India managed workspace provider with presence in 17 cities and 129 centers; strong recurring revenue streams. |
Problem solved Provides flexible workspace solutions that adapt to evolving business needs, reducing real estate burdens for enterprises. |
Top clients or who we serve Serves large enterprises, startups, and multinational companies on a B2B model, including sectors like legal, fintech, and technology. |
Key management Rishi Das (Co-founder & CEO), Meghna Agarwal (Co-founder) |
Our journey and innovations Started in 2015, expanded to multiple Tier I and II cities; developed MiQube tech platform; launched Bespoke office design services. |
Where we operate Operates across India with centers in Bangalore, Gurugram, Coimbatore, Jaipur, Madurai, Kochi, Vijayawada, Mohali, Kolkata, Bhubaneswar, and others. |
Top products or what we offer Plug & Play Workspaces (IndiQube Grow), Bespoke Office Interiors, Workplace Management Services, MiQube Technology Stack, Asset Management. |
Top brands IndiQube Grow (#1 flexible workspace solutions), IndiQube Bespoke (custom office interiors), MiQube (workspace technology platform). |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution 94% revenue from recurring workspace leasing services, ensuring steady cash flow. |
Our industry position One of India’s largest managed workspace providers, accredited with high occupancy and pan-India footprint. |
Financial highlights FY25 revenue ₹1,059 Cr, Net Profit loss ₹139 Cr (mainly accounting impact); 9M FY26 revenue ₹1,063 Cr, PAT ₹95 Cr; EBITDA margin ~21%. |
Geographical revenue split 100% revenue from Indian markets across multiple cities. |
Order book - |
Whats driving growth Expansion into new cities, rising demand for flexible workspaces, Bespoke design services, and adoption of MiQube tech stack. |
Our future plans Increase footprint in Tier II & III cities, add centers, enhance technology offerings, and scale bespoke design solutions. |
Our green promise Focus on green-certified assets and sustainable office renovations enhancing environmental credentials. |
Our people and values Growing team with focus on innovation, client-centric culture, and commitment to seamless workspace experience. |
Key challenges ahead Managing long-term lease liabilities, competition in flexible workspace market, and economic cyclicality. |
Interesting facts Rapid expansion adding 1.5 million sq. ft. and 33,000 new seats in one year; strong technology integration with MiQube app. |
Risks and strategy Risks from lease commitments and churn mitigated via data-driven asset selection, long-term landlord lock-ins, and diversified client base. |
