| Investment | ₹10.00 CrFirst Asset Fit-outs |
|---|---|
| Market Cap | ₹332.52 CrSmall Cap |
| Revenue TTM | ₹225.92 CrOperating Income |
| RSI | 38.44Neutral Zone |
| Deal value | ₹10 Cr |
| Share of market cap | 3.0% |
| Share of annual revenue | 4.4% |
Key highlights
- Acquisition of two premium Grade A+ assets in Bengaluru's Outer Ring Road (ORR) micro-market
- Total expansion area of 1.11 lakh sq. ft. adding over 1,200 seats to the portfolio
- Planned investment of ₹10 crore toward fit-outs and infrastructure for the Lakeshore Drive asset
- Projected monthly revenue generation of approximately ₹2.2 crore from the new facilities
- Company currently operates 28 centres across India with over 17,000 seats and 1.2 million sq. ft.
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|---|---|
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What Is the Expansion?
Dev Accelerator Limited has entered into a strategic partnership with the Prestige Group to acquire two premium Grade A+ office assets in Bengaluru’s high-demand Outer Ring Road micro-market. This expansion adds 1.11 lakh square feet to the company’s managed workspace portfolio, providing space for over 1,200 additional seats. The first asset, located at Lakeshore Drive opposite Bellandur Lake, is situated within a sprawling 90-acre corporate campus and is scheduled to launch on August 1, 2026.
The second development, Prestige Featherlite Tech Hub, is designed as an integrated asset that champions the 'Walk to Work' model, focusing on reduced commute times and improved employee experience.
Strategic Rationale
The expansion within Bengaluru’s Outer Ring Road is a calculated move to capitalize on long-term demand consolidation in one of Asia’s largest IT corridors. The company is observing strong demand from Global Capability Centers (GCCs), particularly those in the manufacturing, retail, and AI-native sectors. By securing institutional-grade workspaces in elite corporate ecosystems, Dev Accelerator positions itself to cater to large enterprises seeking flexible and future-ready environments.
This dual acquisition strengthens the company’s footprint in a strategic office corridor, offering infrastructure advantages and networking opportunities for global occupiers.
Business Model and Revenue Impact
Operating as a full-solution managed workspace platform, the company manages the entire lifecycle of custom offices, from site selection and bespoke fit-outs to facility management. The Bengaluru expansion is expected to generate approximately ₹2.2 crore in additional monthly revenue. This growth is supported by a ₹10 crore investment specifically for fit-outs and infrastructure development at the Lakeshore Drive facility.
The company serves a diverse client base of startups, global corporations, and enterprises across 28 centres, leveraging its status as one of India's fastest-growing workspace providers recognized by Hurun India.
Financial Context
- Annual operating revenue stands at ₹225.92 crore with a net profit of ₹8.8 crore for the latest fiscal year.
- Quarterly net profit growth reached 276.69% year-on-year, highlighting strong operational scaling.
- Operating profit margins for the most recent quarter were reported at 54.89%.
- The company maintains a healthy Piotroski Score of 7, indicating strong financial health and efficiency.
- Promoter holding remains stable at 36.81% with zero pledged shares.
“Expanding within Bengaluru’s Outer Ring Road is a strategic step aligned with where we see long-term demand consolidating. Our collaboration with Prestige Group allows us to bring institutional-grade workspaces to a market that continues to attract GCCs and enterprise occupiers at scale.”
“DevX’s enterprise-led approach and operational expertise align well with the positioning of Prestige Lakeshore Drive and Prestige Featherlite Tech Hub. We believe this collaboration will further strengthen the value proposition of these developments.”
| Share price | ₹36.87 |
|---|---|
| Market capitalisation | ₹332.52 Cr |
| Revenue (annual) | ₹225.92 Cr |
| Net profit (annual) | ₹8.80 Cr |
| Revenue (latest quarter) | ₹59.26 Cr+0.10% vs previous quarter |
| Net profit (latest quarter) | ₹7.90 Cr+895.53% vs previous quarter |
| P/E (TTM) | 37.77×Sector 36.19× |
| Promoter holding | 36.81%0.00% QoQ |
| FII holding | 1.43%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Dev Accelerator Limited announcing a portfolio expansion in Bengaluru with Prestige Group. Market figures from a third-party data provider.
