Dev Accelerator Limited (DevX), one of India’s leading providers of flexible workspace solutions, continues to strengthen its presence beyond metro cities with a sharp focus on Tier-2 markets. The company has achieved an impressive occupancy rate of over 85% across all its centers, reflecting strong demand from emerging business hubs across India.
DevX currently operates 28 centers across 11 cities, managing a total area of around 8.6 lakh square feet. Out of these, 16 centers are located in Tier-2 cities such as Ahmedabad, Vadodara, Indore, Jaipur, Surat, and Rajkot. This strategic shift toward smaller but rapidly growing markets has helped the company capture a 12.7% share of the overall Tier-2 flexible workspace segment.
The company reported a total of 14,144 seats under management as of Q1 FY26, with 12,534 seats already occupied-translating into a high occupancy rate of nearly 88.6%. DevX’s consistent performance across cities has been supported by its asset procurement models, including straight lease, revenue share, and landlord-furnished formats. This flexible approach allows the company to scale efficiently while maintaining control over design, quality, and customer experience.
DevX offers comprehensive workspace solutions-right from identifying office locations to designing, building, and managing them. Its expertise extends to providing technology-enabled and customized office spaces for clients in IT, BFSI, consulting, and media industries. With over 300 active clients, including domestic corporates and multinational firms, DevX has built a strong reputation for delivering high-quality, ready-to-move offices tailored to business needs.
Financially, the company has delivered a strong performance in Q1 FY26. Revenue stood at ₹55.63 crore, marking a 123% year-on-year jump, while EBITDA rose by 88% to ₹26.39 crore. Profit before tax came in at ₹0.95 crore, compared to a loss of ₹5.66 crore in the same quarter last year. The company’s consistent 47% EBITDA margin highlights its ability to manage costs effectively while expanding operations.
DevX’s success is driven by its focus on providing premium office experiences in cost-efficient Tier-2 cities, where growing startups and enterprises seek modern, plug-and-play office spaces. By maintaining an average occupancy of 85%+ across fiscal years, DevX has demonstrated steady operational efficiency and strong customer retention.
With India’s workspace demand shifting toward flexible and hybrid formats, DevX is well-positioned to capture long-term growth. The company aims to continue expanding in high-potential regional markets while strengthening its leadership position as a preferred partner for managed and customized office spaces.
