DEVX
Dev Accelerator Limited (NSE: DEVX) Q2 FY27: Revenue Growth of 54.8% Achieves Highest Ever Performance
Dev Accelerator Limited (NSE: DEVX) announced its Q2 FY27 results with a record revenue growth of 54.8% and tripled PAT.
Dev Accelerator Limited (NSE: DEVX) has announced its unaudited financial results for the quarter and half year ended 30 September 2026, marking its highest ever performance for Q2 FY27. The company reported a revenue growth of 54.8% year-over-year to Rs. 80.2 crore, with profit after tax (PAT) tripling to Rs. 5.5 crore.
Strong Financial Performance
Commenting on the performance, Mr. Parth Shah, Chairman, said, ‘This was our highest ever quarter for revenue, with growth of 54.8% and profit after tax more than tripling. The performance reflects increasing occupancy at centres opened over the past year and greater client adoption of our integrated services, spanning design and build, technology, and facility management.’ The company’s strong operating base, with occupancy above 91.2%, positions it to support global companies establishing operations in India, particularly in fast-growing Tier 2 cities.
Capital-Efficient Expansion
Mr. Parin Shah, Chief Financial Officer, highlighted that profit growth significantly outpaced revenue as the company expanded without a corresponding increase in overheads. During H1 FY27, other expenses declined from 11.1% to 7.7% of revenue, while employee costs remained broadly unchanged. Cash EBIT more than doubled to Rs. 19.1 crore in Q2 FY27, with a margin of 23.8%. The company raised Rs. 100 crore through secured, rated, and listed NCDs to support its signed expansion pipeline, while net debt remains below equity.
Looking ahead, the company aims to translate this scale into sustained earnings growth and long-term shareholder value by combining a larger workspace portfolio with deeper client engagement. The pipeline of 17 new centres covering approximately 2.81 million sq. ft. is expected to take the platform to 4.16 million sq. ft. across 49 centres.
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 rises 23.7% over three months, with buying pressure holding steady. 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. RSI hits 74, a level that signals the stock runs hot. Notably, buyers drove volume on 15 recent sessions — though at these levels, some profit-taking is normal. The stock rises 23.7% in three months on 47.8% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Dev Accelerator Limited.
DEVX
Dev Accelerator Limited (NSE: DEVX) Q2 and H1 FY27 Earnings Presentation: Record Revenue and Profit Surge
Dev Accelerator Limited (NSE: DEVX) reports record Q2 and H1 FY27 earnings with revenue up 54.8% and PAT more than tripling.
Dev Accelerator Limited (NSE: DEVX) has announced its Q2 and H1 FY27 earnings, marking a significant milestone with record revenue and profit growth. The company reported a 54.8% increase in revenue to Rs. 80.2 crore in Q2 FY27, while profit after tax (PAT) more than tripled. For H1 FY27, revenue reached Rs. 134 crore, and PAT increased 3.7 times compared to the same period last year. These impressive results reflect the company’s robust expansion and operational efficiency.
Financial Highlights
The financial performance of Dev Accelerator Limited showcases strong growth across various metrics. EBITDAR for H1 FY27 stood at Rs. 7 crore, and the company’s PBT surged to Rs. 185 crore. Additionally, the net debt increased to Rs. 185 crore, supported by the Rs. 100 crore raised through non-convertible debentures, which facilitated refinancing and expansion initiatives.
Operational Performance
The company’s operational footprint continues to expand, with 28 managed office centers across 12 cities, covering 1.16 million sq. ft. Occupancy improved to 91.2%, up from 88.3% a year ago, with 15,872 occupied seats. The revenue to rent ratio also increased to 2.90 times, indicating enhanced revenue generation. Dev Accelerator Limited’s integrated platform, combining managed offices with design and build capabilities, is driving deeper client relationships and recurring service income.
Looking ahead, the company’s pipeline of 17 new centers covering approximately 2.81 million sq. ft. underscores its commitment to sustained growth. Dev Accelerator Limited aims to commission new centers in phases, strengthen leasing, improve utilisation, and expand its Global Capability Centers services. With an expanding footprint and enhanced client capabilities, the company remains focused on converting these opportunities into long-term shareholder value.
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 rises 23.7% over three months, with buying pressure holding steady. 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. RSI hits 74, a level that signals the stock runs hot. Notably, buyers drove volume on 15 recent sessions — though at these levels, some profit-taking is normal. The stock rises 23.7% in three months on 47.8% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Dev Accelerator Limited.
DEVX
Dev Accelerator Limited (NSE: DEVX) Q1 FY27: Revenue from Operations Hits Rs. 53.8 Cr
Dev Accelerator Limited (NSE: DEVX) reports Q1 FY27 revenue of Rs. 53.8 crore, EBITDA of Rs. 30.3 crore, and a 56.3% margin.
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.
DEVX
Dev Accelerator Limited (NSE: DEVX) Q1 FY27 Earnings Presentation: Revenue Up 4.7%, Ebitdar Rises 14.7%
Dev Accelerator Limited (NSE: DEVX) reports Q1 FY27 earnings with a 4.7% revenue increase and 14.7% EBITDAR growth.
Dev Accelerator Limited (NSE: DEVX) delivered a steady performance during the first quarter of FY27, supported by continued demand for managed office spaces from enterprise clients in our core markets. The Company reported Revenue from Operations of Rs. 53.8 crore compared to Rs. 55.6 crore in Q1 FY26, marking a 4.7% decrease. However, EBITDAR was at Rs. 30.3 crore with a growth of 14.7% YoY, and PAT of Rs. 1.6 crore, a growth of 17.9% compared to the same period last year.
Financial Performance
The Company currently operates 27 centers across 12 tier 1 and tier 2 cities in India. The total managed office space increased to 1.13 Mn sq. ft., a growth of 31.4% YoY with an overall occupancy of 91.9%. Enterprise clients continued to account for the majority of the Company’s revenues, with increasing demand for highly customized and technology-enabled workspaces.
Strategic Initiatives
We continue to develop a technology-led real estate ecosystem through the AI Infrastructure Launchpad, which invites AI and PropTech innovators to develop solutions aimed at improving operational efficiency, automating processes, enhancing customer experience, and enabling data-driven decision-making. Recent building tokenization initiatives and access to global capital are expected to support expansion plans in this area. The partnership with a leading pan-India media organization will also provide access to a wider innovation network and help identify scalable technology solutions.
With dedicated teams and resources in place, the Company remains focused on converting these initiatives into commercially viable business propositions while expanding its presence across identified markets and improving utilisation across its portfolio. We have also raised Rs. 100 crore through non-convertible debt, further diversifying our sources of capital and providing additional resources to support our planned expansion.
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.
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