IndiQube, an IPO-bound coworking space startup, reported a mixed financial performance for the fiscal year 2023-24 (FY24):
Key Financial Metrics
Net Loss:Widened 72% to INR 341.51 Cr, up from INR 198.10 Cr in FY23.
The increase was primarily attributed to a sharp rise in the loss on fair valuation of financial liabilities.
Revenue from Operations:
Surged 44% to INR 867.66 Cr, up from INR 601.28 Cr in FY23.
EBITDA:
Stood at INR 263.4 Cr in FY24.
Q1 FY25 Highlights (Three Months Ending June 30, 2024)
Net Loss After Tax: INR 42.04 Cr.
Operating Revenue: INR 251.30 Cr.
EBITDA: INR 153 Cr.
Company Overview
Founded: 2015.
Founders: Rishi Das and Meghna Agarwal.
Business Model:
IndiQube provides a managed office space solution branded as an ‘office in a box’, including workspace design, interior build-outs, and a wide range of B2B and B2C services enabled by technology.
Outlook
IndiQube’s robust revenue growth demonstrates strong market demand, while its expanding losses reflect the challenges of scaling in a competitive coworking market. As the company prepares for its IPO, sustaining operational improvements and managing financial liabilities will be crucial to its long-term success
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