Dev Accelerator Locks in ₹110 Crore Enterprise Deal, Signaling Institutional Shift to Managed Workspaces

Dev Accelerator Locks in ₹110 Crore Enterprise Deal, Signaling Institutional Shift to Managed Workspaces​

Dev Accelerator Limited (DevX) has secured a landmark enterprise deal with Manubhai and Shah LLP, solidifying its position as a key provider of managed office solutions in India's Tier-II cities. The agreement represents one of the largest enterprise-led flexible workspace transactions in the Ahmedabad area, promising strong, long-term revenue visibility for DevX.

The contract spans a 9-year period and encompasses approximately 1,00,000 sq. ft. Manubhai and Shah LLP will relocate its Ahmedabad headquarters to DevX's managed campus at Capital One, utilizing a total capacity of 2,000 seats, with over 1,000 seats committed in Phase 1.

The agreement, which was highlighted as a ₹110 Crore enterprise deal, reinforces the growing institutional confidence in managed office platforms among large enterprises.

Campus Development and Occupier Diversity​

The Capital One campus, developed by DevX, is designed as an integrated workplace ecosystem offering amenities including a managed cafeteria, coffee lounge, breakout zones, wellness facilities, gym, crèche, and collaborative event spaces. The total area of the campus is 3.15 lakh sq. ft., creating a seamless, experience-driven environment.

The facility currently hosts a diverse mix of corporate occupiers, demonstrating high demand for integrated, enterprise-grade workspaces.

Key tenants occupying the campus include:

Market Outlook and Operational Scale​

The move by large firms to consolidate and modernize their presence reflects a broader trend in the Indian business landscape, where enterprises are prioritizing scalable, experience-led workplaces. Managed office solutions are emerging as a preferred model due to the speed, flexibility, and reduced operational complexity they offer occupiers.

Umesh Uttamchandani, Managing Director of Dev Accelerator Limited, commented on the development, stating that the transaction is defining not just in scale, but in what it represents for the future of commercial real estate. He noted that the commitment reflects increasing enterprise confidence in managed workspace platforms as long-term infrastructure partners. Furthermore, he highlighted that as businesses expand beyond traditional metropolises, cities like Ahmedabad are becoming key strategic growth centers.

Dev Accelerator Limited, an enterprise-focused, full-solution managed workspace platform, designs, builds, and operates custom offices end-to-end. The company manages site selection, bespoke fit-outs, technology integration, and facility management under a single Service Level Agreement (SLA). DevX currently operates 28 centers across multiple Indian cities, managing 8.6 lakh sq. ft. and providing over 14,000 seats, solidifying its large Tier-2 footprint by operational flex stock.

DEVX Stock Price Movement​

As of 1:15 PM, Dev Accelerator Limited's shares are holding steady at ₹37.82 in live trading, maintaining their previous closing level for the day. The stock is currently trading within a narrow intraday range of ₹37.00 to ₹37.82, having seen 27,456 shares change hands so far.

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