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Indiqube Spaces Limited
(INDIQUBE)
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Rating:56Neutral
Price Target:
₹175.00
▼(-14.82% Downside)
Action:Reiterated
Date:08/22/26
The score is driven by improving cash generation and strong technical momentum, but is capped by elevated balance-sheet leverage with limited equity protection and ongoing losses/weak profitability, which also limits valuation support (negative P/E and no dividend yield provided).
Positive Factors
Strong Revenue Growth
Rapid revenue expansion indicates growing demand for the company’s workspace solutions and increasing monetization of its operating platform. If this trajectory continues, greater scale can improve utilization, strengthen customer reach, and create a broader base for future cash generation.
Negative Factors
High and Rising Leverage
Rising debt alongside a limited equity buffer increases refinancing and downside risk, particularly while the company remains loss-making. A debt-heavy capital structure can absorb more operating cash flow through obligations and restrict flexibility to fund expansion or withstand weaker demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Rapid revenue expansion indicates growing demand for the company’s workspace solutions and increasing monetization of its operating platform. If this trajectory continues, greater scale can improve utilization, strengthen customer reach, and create a broader base for future cash generation.
Read all positive factors
Indiqube Spaces Limited (INDIQUBE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹35.93B
Dividend YieldN/A
Average Volume (3M)61.48K
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees764
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-4.49
Shares Outstanding211,997,630
10 Day Avg. Volume50,017
30 Day Avg. Volume61,478
Financial Highlights & Ratios
PEG Ratio1.24
Price to Book (P/B)5.29
Price to Sales (P/S)1.78
P/FCF Ratio5.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.32
Revenue Forecast (FY)₹18.89B
Indiqube Spaces Limited Business Overview & Revenue Model
Company Description
IndiQube Spaces Limited is an Indian company dedicated to providing comprehensive workplace solutions and supporting services. The core of their business involves leasing a network of shared office spaces, which are available as either fully furni...
How the Company Makes Money
Indiqube Spaces Limited makes money primarily by monetizing workspace capacity and workplace services through commercial arrangements with enterprise and other business customers. Key revenue streams typically include: (1) Workspace charges: recur...
Indiqube Spaces Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
28
Negative
Cash Flow
67
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.15B | 15.28B | 10.59B | 8.31B | 5.80B | 3.44B |
| Gross Profit | 5.25B | -3.07B | 9.39B | 7.42B | 5.16B | 3.16B |
| EBITDA | 7.93B | 5.10B | 6.55B | 2.61B | 2.57B | 1.40B |
| Net Income | -934.68M | -1.06B | -1.40B | -3.42B | -1.98B | -1.88B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 65.11B | 46.85B | 36.68B | 29.69B | 22.84B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 3.85B | 59.44M | 3.71M | 104.42M | 3.23M |
| Total Debt | 0.00 | 52.07B | 40.88B | 30.49B | 29.26B | 21.60B |
| Total Liabilities | -5.15B | 59.97B | 46.88B | 35.37B | 32.77B | 24.22B |
| Stockholders Equity | 5.15B | 5.15B | -31.11M | 1.31B | -3.08B | -1.39B |
Cash Flow | ||||||
| Free Cash Flow | 2.50B | 4.71B | 3.54B | 3.52B | 1.52B | 1.55B |
| Operating Cash Flow | 4.29B | 8.98B | 6.12B | 5.42B | 3.24B | 2.02B |
| Investing Cash Flow | -6.16B | -7.47B | -2.59B | -1.93B | -1.74B | -466.89M |
| Financing Cash Flow | 2.29B | -1.46B | -3.37B | -3.65B | -1.49B | -1.76B |
Indiqube Spaces Limited Technical Analysis
Neutral
205.45
Price Trends
189.64
Negative
180.48
Negative
174.48
Negative
Market Momentum
-7.34
Positive
42.15
Neutral
52.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIQUBE, the sentiment is Neutral. The current price of 205.45 is above the 20-day moving average (MA) of 181.76, above the 50-day MA of 189.64, and above the 200-day MA of 174.48, indicating a bearish trend. The MACD of -7.34 indicates Positive momentum. The RSI at 42.15 is Neutral, neither overbought nor oversold. The STOCH value of 52.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INDIQUBE.
Indiqube Spaces Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹15.39B | 54.57 | ― | 5821.16% | 68.14% | ― | |
63 Neutral | ₹25.69B | 8.57 | ― | ― | 42.05% | 42.32% | |
56 Neutral | ₹35.93B | -37.85 | ― | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹14.39B | 157.04 | ― | 0.13% | 5.51% | ― | |
50 Neutral | ₹16.21B | 45.06 | ― | 1.58% | 19.06% | ― | |
50 Neutral | ₹54.74B | 201.89 | ― | ― | ― | ― |
* General Sector Average
IN:INDIQUBE
Indiqube Spaces Limited
169.50
-43.75
-20.52%
IN:AURUM
Aurum Proptech Limited
201.35
29.80
17.37%
IN:SCILAL
Shipping Corporation of India Land and Assets Limited
34.80
-15.08
-30.24%
IN:TEXINFRA
Texmaco Infrastructure & Holdings Limited
112.90
10.12
9.84%
IN:SMARTWORKS
Smartworks Coworking Spaces Limited
478.55
-101.60
-17.51%
IN:EFCIL
EFC (I) Ltd.
171.35
-122.72
-41.73%
Indiqube Spaces Limited Corporate Events
Indiqube Spaces Corrects Schedule for Investor Meetings
Sep 15, 2026
Indiqube Spaces Limited has issued a corrigendum to its earlier disclosure on the schedule of analyst and institutional investor meetings under SEBI Listing Regulations. The company clarified that the Ahmedabad meeting will now be held on Friday, ...
Indiqube Spaces Files Q1 FY27 Earnings Call Transcript With Exchanges
Aug 18, 2026
Indiqube Spaces Limited has submitted to Indian stock exchanges the official transcript of its Q1 FY27 earnings conference call, held on August 13, 2026, covering financial results for the quarter ended June 30, 2026. The company has also made the...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.