Dev Accelerator Limited Reports Strong FY26 Results; Standalone Revenue Grows 34.3% YoY
Ahmedabad (Gujarat), May 20, 2026: Dev Accelerator Limited (NSE: DEVX; BSE: 544513), an enterprise-focused managed office space provider with India's largest Tier-2 footprint, today announced its audited financial results for the quarter and full year ended March 31, 2026.The company reported robust standalone financial performance, highlighting a 34.30% Year-over-Year (YoY) growth in Revenue from Operations for the full fiscal year (FY26). Standalone EBITDA Margin for FY26 expanded to 60.54%.
Standalone Financial Performance (₹ Crores)
The financial results for both the full year (FY26) and the fourth quarter (Q4FY26) are detailed below:| Particulars | FY26 | FY25 | YoY% | Q4FY26 | Q4FY25 | YoY% |
|---|---|---|---|---|---|---|
| Revenue from Operations | 170.91 | 127.26 | 34.30% | 46.96 | 44.41 | 5.74% |
| EBITDA | 103.46 | 76.06 | 36.04% | 27.71 | 28.39 | (2.38%) |
| EBITDA Margin% | 60.54% | 59.76% | 59.02% | 63.93% | ||
| Cash EBIT | 36.55 | 17.31 | 111.12% | 10.01 | 13.67 | (26.76%) |
| PBT | 10.15 | 0.99 | 921.65% | 6.78 | (0.35) | 2035.81% |
| Normalised PBT | 20.24 | 14.05 | 44.06% | 9.25 | 12.85 | (28.06%) |
Operational Highlights and Strategic Growth
On a consolidated level, the company reported that Revenue from Operations stood at ₹226 crores in FY26, marking 42.2% YoY growth, while the EBITDA Margin for FY26 was 48.4%.Dev Accelerator Limited emphasized its continued focus on the Tier-2 market and key operational milestones achieved in Q4. The company also noted:
- Development Management Contracts: 8.1 lakh sq. ft. were signed under Development Management contracts. This agreement represents an investment commitment of approximately INR100 crores over four years, with the potential peak annual revenue reaching roughly INR120 crores, assuming an 85% stabilized occupancy, comprising about 8,500 seats.
- New Leases: 4.5 lakh sq. ft. at Winston was signed in Q4 under the Straight Lease model along the Ambli-Bopal corridor. This segment is slated for funding through the proposed preferential issue.
- Occupancy: 3.15 lakh sq. ft. at Capital One became operational this quarter, supporting approximately 4,000 seats, and achieving 95% pre-leasing prior to its launch.
Management Commentary
Mr. Umesh Uttamchandani, Managing Director of Dev Accelerator Limited, highlighted that FY26 marked several major company milestones, including the first complete financial year as a listed entity. He attributed the strong results to the company's Tier-2 focused strategy and deeper commitments from enterprise clients.Standalone revenue reached ₹171 crore, a 34.3% YoY increase over the ₹127 crore base of FY25, and the standalone EBITDA margin expanded to 60.5% from 59.8%. Profit before tax grew 922% to ₹10 crore, with normalized PBT coming in at ₹ 20 crore, indicating the second consecutive year of positive PBT performance.
Mr. Uttamchandani stated that the consolidation of approximately 15.75 lakh sq. ft. along the Ambli-Bopal corridor in Ahmedabad defined the operational year. He highlighted the Development Management model as a key differentiator, which allows DevX to partner with non-institutional landowners to create Grade A+ assets for GCC consumption, while maintaining a strong unit economics profile.
Looking forward, the company announced plans to double its operational capacity to approximately 30 lakh sq. ft. by FY28. The management expressed confidence in sustained growth, citing the preferential issue approval, a strong contracted pipeline, and the continued structural migration of Global Capability Centers (GCCs) into Tier-2 India.
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About Dev Accelerator Limited
Dev Accelerator Limited is an enterprise-focused, full-solution managed workspace platform. The company designs, builds, and operates custom offices end-to-end, covering site selection, bespoke fit-outs, technology integration, and facility management under a single SLA. With one of India's largest Tier-2 footprints by operational flex stock, DevX serves enterprises, startups, and GCCs with customizable work environments across India. The company currently operates 28 centers across 12 Indian cities, managing approximately 0.83 Mn Sq. Ft. and housing 13,304 seats.
DEVX Stock Price Movement
As of 2:01 PM, shares of Dev Accelerator Limited are slipping by 1.84% in live trading, currently at ₹40.1. The stock is seeing significant intraday activity, trading on a volume of 87,911 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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