Is Indiqube Spaces overvalued or undervalued?

As of 14 November 2025, Indiqube Spaces has moved from a fair to an expensive valuation grade. The company is currently considered overvalued, with a PE ratio of -32.96, a Price to Book Value of 8.36, and an EV to EBITDA ratio of 14.40. These ratios indicate significant financial challenges, particularly the negative PE ratio and a low ROE of -25.37%, suggesting inefficiencies in generating profit relative to shareholder equity.
In comparison to its peers, Indiqube Spaces stands out unfavorably. For instance, Altius Telecom is rated very attractive with a PE of 51.5, while other competitors like Embassy Office REIT and Mindspace Business have very expensive valuations with PE ratios of 130.21 and 53.94, respectively. Despite a recent one-week stock return of 7.66% compared to the Sensex's 1.62%, the overall financial metrics and peer comparisons reinforce the conclusion that Indiqube Spaces is overvalued in the current market.