1. At a Glance
TCC Concept, the co-working space whisperer, posted Q1 FY26 revenue of ₹22.1 Cr (-31% QoQ), with PAT at ₹9.4 Cr (down 45% QoQ). Despite a rough quarter, the company flaunts 75% OPM and a 124% TTM profit growth. Investors, however, still scratch their heads at a P/E of 40.
2. Introduction with Hook
Think of TCC as WeWork’s thrifty Indian cousin – less tequila, more spreadsheets. After a meteoric FY25, Q1 FY26 was a reminder that co-working isn’t immune to seasonal chills. Still, they remain one of the few real estate players making margins fatter than their office chairs.
3. Business Model (WTF Do They Even Do?)
TCC Concept is:
- Broker + Aggregator for flexible office spaces
- Property Manager for leasing/renting commercial real estate
- Lead Generator for 100+ daily prospects
In short, they sell desks and dreams, taking commissions and rental spreads.
4. Financials Overview
- Revenue (Q1 FY26): ₹22.1 Cr (-31% QoQ, +87% YoY)
- EBITDA: ₹17.9
