Dev Accelerator Limited (NSE: DEVX), a leading flex space operator in Tier-1 and Tier-2 cities, has announced its unaudited consolidated financial results for the quarter ending 30th June 2026. The company reported a revenue from operations of Rs. 53.8 crore compared to Rs. 55.6 crore in Q1 FY26, marking a 3.3% year-on-year decline. However, the company’s EBITDA stood at Rs. 30.3 crore, reflecting a 14.7% year-on-year growth. The EBITDA margin improved to 56.3% from 47.4% in the same quarter last year. Additionally, the company’s profit after tax (PAT) surged to Rs. 1.5 crore, a significant 15x growth compared to the same period last year.

Financial Performance

The company’s total managed office space increased to 1.13 million sq.ft., a robust 31.4% year-on-year growth, with an overall occupancy rate of 91.9%. Enterprise clients continue to drive the majority of the company’s revenues, with a notable demand for customized and technology-enabled workspaces. Dev Accelerator is actively developing a technology-led real estate ecosystem through the AI Infrastructure Launchpad, which invites AI and PropTech innovators to create solutions aimed at improving operational efficiency and customer experience.

Strategic Initiatives

The company has recently raised Rs. 100 crore through non-convertible debt, diversifying its sources of capital and supporting its expansion plans. Additionally, the partnership with a leading pan-India media organization will provide access to a wider innovation network and help identify scalable technology solutions. With dedicated teams and resources in place, Dev Accelerator remains focused on converting these initiatives into commercially viable business propositions while expanding its presence across identified markets.

Looking ahead, the company is optimistic about its growth trajectory, with plans to add 2.31 million sq.ft. in the pipeline by FY29, taking the total to 3.63 million sq.ft. Dev Accelerator Limited continues to focus on expanding its presence across Tier 1 and Tier 2 cities, improving occupancy rates, and maintaining disciplined execution of its expansion plans.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Dev Accelerator Limited

Dev Accelerator Limited belongs to the Real Estate › Real Estate Services sector. Here’s a quick read on where the business and the stock stand today.

Dev falls 13.8% over three months and has not found a floor yet. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. 1 loss quarter(s) over five years signals earnings fragility — not chronic but worth noting. The stock gains 0.3% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 47.8% CAGR — a respectable pace. However, the stock drops 13.8% in three months without an obvious fundamental trigger. Sector-wide pressure or a valuation re-rating can persist for longer than expected. Therefore, there is no rush to step in. Check Fundamentals of Dev Accelerator Limited.