# DevX Profit Jumps 10X, IndiQube Loss Shrinks 35% In Q1

2026-08-12T17:22:30+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

DevX's net profit jumped tenfold year-on-year to Rs 1.5 Crore in Q1 FY27, but operating revenue slipped 3.2% to Rs 53.8 Crore, Inc42 reports. IndiQube trimmed its net loss by 35% YoY to Rs 23.9 Crore, while revenue rose 37% to Rs 422.6 Crore. DevX's profit fell 81% sequentially from Rs 8 Crore in Q4 FY26. DevX's board approved raising up to Rs 100 Crore via non-convertible debentures and expanding into property management. IndiQube's total expenses stood at Rs 479.3 Crore, with a tax gain of Rs 6.6 Crore. Both companies compete with Awfis, WeWork and Smartworks in India's flexible workspace market.

## Coverage

- inc42.com <https://inc42.com/buzz/devx-q1-profit-jumps-to-%E2%82%B91-5-cr-despite-a-3-3-yoy-dip-in-revenue/>
- inc42.com <https://inc42.com/buzz/indiqube-trims-q1-loss-by-35-yoy-to-%E2%82%B924-cr-revenue-jumps-37/>

Tags: coworking, DevX, IndiQube, Q1 earnings, real estate, startups
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