What we do Dev Accelerator Limited operates as a leading flex workspace provider in India, offering built-to-suit managed office solutions across Tier 1 and Tier 2 cities. |
Founded in 2,017 |
Market share One of the largest flex space operators with a strong presence in 12 cities and 28 centers. |
Problem solved Provides enterprises scalable, cost-effective workspace solutions with integrated design, technology, and asset management services. |
Top clients or who we serve Serves enterprises, GCCs, MNCs, startups, and SMEs across sectors focusing on B2B clients. |
Key management Parth Shah (Chairman and Whole-Time Director), Umesh Uttamchandani (Managing Director), Rushit Shah (Whole-time Director). |
Our journey and innovations Started in 2017 as LLP, converted to Public Limited Company in 2024, expanded to 28 centers with largest managed office campus in Ahmedabad. |
Where we operate Operates across India in cities including Ahmedabad, Mumbai, Hyderabad, Pune, Jaipur, Noida, Rajkot, Indore, Udaipur, Vadodara, Surat. |
Top products or what we offer Core offerings include private managed offices, shared floor offices, interior design and fit-outs, facility management, and tech solutions. |
Top brands DevX Managed Offices (#1 in Tier-2 flex space), Neddle & Thread (design services), SaaSJoy (technology solutions). |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Majority revenue is recurring from long-term leases and enterprise contracts. |
Our industry position Leader in Tier-2 flexible workspace market with 75% revenue from these cities and highest rent-to-revenue ratios. |
Financial highlights FY 2025 revenue ₹158.88 Cr, net profit ₹1.74 Cr, EBITDA margin 61.1%, 53% YoY revenue growth as of 9M FY26. |
Geographical revenue split About 72% revenue from Tier-2 cities, 28% from Tier-1 metro markets in India. |
Order book - |
Whats driving growth Rising enterprise demand, shift to Tier-2 cities, large-scale corporate leases, integrated workspace solutions, and technology enablement. |
Our future plans Expand footprint with new centers in Ahmedabad, Pune, Surat; scaling India’s largest managed office projects and enhancing tech solutions. |
Our green promise - |
Our people and values Focus on innovation, collaboration, and customer-centric service; led by experienced management with sector expertise. |
Key challenges ahead Competition in metro markets, managing expansion risks, maintaining occupancy amid changing workspace trends. |
Interesting facts Operates India’s largest managed flex office campus in Ahmedabad with ~3,990 seats, 95% pre-leased prior to operation. |
Risks and strategy Mitigates risks via long-term leases, asset-light models, and a focus on Tier-2 cities with lower competition and better margins. |
