• Expansion and capex: The company signed five lease agreements spanning nearly 0.7 million square feet across Bengaluru, Hyderabad, and Chennai, requiring approximately ₹200 crore in capex with 80% to 90% of the expansion operationalizing between Q1 and Q3 of the upcoming fiscal year.
• Financial growth guidance: Management expects both revenue and bottom-line growth to exceed 20% in the upcoming financial year, having surpassed street expectations and guidance in the previous fiscal year.
• EBITDA margin outlook: After reaching 21% in Q3 and expecting higher figures in Q4, the company guides for sustainable average EBITDA margins of 20% to 22%, cushioned by back-to-back deals and fast ramp-ups despite upfront rental additions.
• Flexible leasing demand: Flexible office demand continues to outstrip supply amid tightening nationwide office vacancies of 13.85%, contrary to market concerns regarding potential negative impacts from artificial intelligence or an IT slowdown.