Transcript of Earnings Call held on August 13, 2026

August 18, 2026 BSE Limited, National Stock Exchange of India Limited, 20th Floor, P.J. Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai - 400001. Mumbai – 400 051 BSE Scrip Code: 544454 NSE Scrip Symbol: INDIQUBE Dear Sir/ Ma’am, Subject: Submission of Transcript of the Earnings Conference Call held on August 13, 2026 This has reference to regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Transcript of the Earnings Conference Call held on Thursday, August 13, 2026, on the financial results for the quarter ended on June 30, 2026. Further, the transcript of the aforesaid Earnings Conference Call shall be made available on the website of the Company at the following link: https://indiqube.com/investor/financials/. Kindly take the same on record. Thanking You, For Indiqube Spaces Limited Bhasker Dubey (Company Secretary and Compliance Officer) Indiqube Spaces Limited (formerly known as Indiqube Spaces Private Limited, Innovent Spaces Private Limited) info@indiqube.com Registered and Corporate Office: www.indiqube.com Plot # 53, Careernet Campus, Kariyammanna Agrahara Road, Devarabisanahalli, +91 9900092210 Outer Ring Road, Bangalore, Karnataka, India, 560103 CIN - L45400KA2015PLC133523 “Indiqube Spaces Limited Q1 FY27 Earnings Conference Call” August 13, 2026 MANAGEMENT: MR. RISHI DAS – CHAIRMAN, EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICE – INDIQUBE SPACES LIMITED MS. MEGHNA AGARWAL – EXECUTIVE DIRECTOR AND CHIEF OPERATING OFFICER – INDIQUBE SPACES LIMITED MR. PAWAN JAIN – CHIEF FINANCIAL OFFICER – INDIQUBE SPACES LIMITED MR. VIKAS AGRAWAL – HEAD-INVESTOR RELATIONS – INDIQUBE SPACES LIMITED MR. VAMSI CHATRATHI – AVP-MARKETING – INDIQUBE SPACES LIMITED MODERATOR: MR. SOURABH GILDA -- JM FINANCIAL SERVICES Note: This transcript has been edited for readability purposes and may contain errors. The Company takes no responsibility for such errors, although an effort has been made to ensure high level of accuracy. Page 1 of 16 Indiqube Spaces Limited August 13, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY27 Indiqube Spaces Conference Call hosted by JM Financial Services. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing “*” then “0” on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Sourabh Gilda from JM Financial Services. Thank you and over to you, sir. Sourabh Gilda: Hi, on behalf of JM Financials, I welcome you all to the Q1 FY27 earnings call of Indiqube Spaces Limited. From the management, we have with us Mr. Rishi Das, CEO, Ms. Meghna Agarwal, COO, Mr. Pawan Jain, CFO, Mr. Vikas Kumar Agarwal, Head IR, and Mr. Vamsi Chatrathi, AVP Marketing. We would like to now begin the call with opening remarks from the management post which we will have the forum open for an interactive question and answer session. Thank you and over to you Rishi and Meghna. Rishi Das: Yes, thank you, Sourabh. Good afternoon, everyone, and thank you for joining us for the Indiqube Spaces Limited Q1 FY27 earnings call. It is my pleasure to welcome our shareholders, analysts, investors and all participants joining us today. Our earnings presentation has been uploaded on the stock exchanges and on our website, and we trust you have had the opportunity to go through it. Q1 27 marks a very strong start for the year with Indiqube delivering its highest ever quarterly revenue of INR428 crores representing growth of 37% year-on-year. This strong revenue performance was accompanied by healthy growth across profitability metrics. Our EBITDA increased by 34% to INR87 crores, EBIT grew from 59% to INR55 crores, while PAT increased by 91% to INR35 crores. What is equally encouraging is the quality of this growth, with profitability strengthening as we scale. EBIT margin improved to 13% in Q1 FY27 from 11% in Q1 FY26, while PAT margin expanded to 8% from 6% during the same period last year. EBITDA margin remained healthy at 20%. Together, these metrics demonstrate the operating leverage inherent in our platform and our ability to translate growth in scale with stronger profitability. On the operational front, we continue to expand our portfolio at a healthy pace. During the year, we added 1.91 million square feet to our area under management, and we launched 17 new centers. This expansion continues to be guided by our follow the talent strategy, under which we build high density workspace clusters in talent rich micro-markets where enterprises are looking to establish and expand their operations. Importantly, the strength of our platform is also reflected in the quality and composition of our customer base. So as of June 2026, we catered to 855 clients, and this was across a good diverse mix of Global Capability Centers, Indian conglomerates, unicorns and high growth startups. Page 2 of 16 Indiqube Spaces Limited August 13, 2026 GCCs contributed 53% of our revenue during the quarter and multi-center clients (clients who have taken more than one center) accounted for about 41% of our revenue. Nearly 90% of our occupants come from clients who have taken more than 100 seats. So, these indicators clearly reflect the large size, long stay and enterprise focused nature of our portfolio. They also demonstrate our ability to grow alongside our customers as they expand across cities and micro-markets in India. Alongside growth and profitability, sustainability continues to remain a very important pillar of our strategy. Nearly 30 megawatt of solar capacity is already operational, comprising capacity from our solar farms in Karnataka and Maharashtra, as well as rooftop installations across the country. These initiatives are an important step towards our long-term ambition of transitioning the Indiqube portfolio to 100% green power. So, if we have to reflect back, the last decade was about building and evolving Indiqube. We expanded from Bangaluru to multiple cities, progressed from managed workspaces to an integrated managed spaces platform, broadened the range of services we offer to our customers and transitioned from being a private limited company to becoming a listed institution. The next phase for us is about compounding what we have built. We believe the combination of our geographical expansion, deeper customer relationships, a growing contribution from value added services, strong operating leverage, and our sustainability initiatives create a solid foundation for the next phase of Indiqube growth. With that, I will now hand over to my co-founder Meghna Agarwal who will take you through the key business highlights for the quarter. Meghna Agarwal: Thank you, Rishi, and good afternoon, everyone. Firstly, I would encourage everyone to spend some time going through our annual report which is available on our website. I believe it provides a much better understanding of how we see Indiqube evolving into an integrated managed spaces platform. That evolution is reflected in the breadth of our offerings. The first one is Grow, our core managed workspace proposition, DesignQube which is rebranded version of Bespoke. It enables us to participate in the design and creation of workspaces giving us a larger role in the customer's workspace journey. IndiCare, rebranded version of IndiQube One, allowing us to address broader operations, employee experience, and facility requirement. And importantly, we are also extending the IndiCare proposition into retail where we see a significant opportunity to manage end-to-end stores and branches. Eco, helping customers build more sustainable and energy efficient commercial spaces. So, when we look at these offerings together, the opportunity becomes much larger [Showing first 8,000 characters — download PDF for full document]