Occupancy volatility from large area additions
Quarterly occupancy may dip due to timing of new rent-paying area additions, as seen in Q3 (84% from 81% QoQ).
INDIQUBE / Q3-FY26 / risks
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Indiqube Spaces · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Concentration in South India
Over 50% of India's commercial real estate absorption is in South India; any regional slowdown could impact Indiqube disproportionately.
One-time VAS revenue volatility
One-time VAS revenue (e.g., design & build) is lumpy and can cause fluctuations in total VAS contribution, as seen with a large client interior project.