Dev Accelerator Ltd
DEVX NSE
Dev Accelerator Ltd
ServicesNSE: DEVX BSE: 544513 Commercial Services & Supplies
Key Fundamentals
MicrocapDiversified ServicesCommercial ServicesMarket Cap
₹377 Cr
Volatility
Moderate
P/E Ratio
123.7
EBITDA
₹99.50 Cr
Debt to Equity
8.5
Book Value
₹19.84
52W High
₹64.05
52W Low
₹29.95
Technical Indicators
Key Insights
Weaknesses
4- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding is low: 36.8%
- Debtor days have increased from 52.1 to 97.1 days.
Growth Rate
Revenue Growth
60.70% ↗
Net Income Growth
350.00% ↗
Cash Flow Change
1140.08% ↗
ROE
112.50% ↗
ROCE
62.85% ↗
EBITDA Margin (Avg.)
-7.87% ↗
Quarterly Results
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|
| Depreciation | 11.13 | 14.44 | 13.32 | 16.54 | 14.51 | 14.8 | 14.94 |
| EPS in Rs | -4,295 | 0.93 | 0.1 | 0.31 | 0.02 | 0.2 | -0.11 |
| Expenses | 10.9 | 16.34 | 25.67 | 34.09 | 29.24 | 25.42 | 35.29 |
| Interest | 8.76 | 11.38 | 12.21 | 15.18 | 12.26 | 12.64 | 9.25 |
| Net Profit | -5.97 | 6.24 | 0.69 | 2.12 | 0.14 | 1.76 | -1.01 |
| OPM % | 56.24% | 52.6% | 48.4% | 47.87% | 47.44% | 50.96% | 40.39% |
| Operating Profit | 14.01 | 18.13 | 24.08 | 31.31 | 26.39 | 26.42 | 23.91 |
| Other Income | 0.22 | 14.33 | 2.26 | 2.94 | 1.32 | 2.71 | 2.85 |
| PBT | -5.66 | 6.64 | 0.81 | 2.53 | 0.94 | 1.69 | 2.57 |
| Sales | 24.91 | 34.47 | 49.75 | 65.4 | 55.63 | 51.84 | 59.2 |
| Tax % | 5.48% | 6.02% | 13.58% | 16.6% | 85.11% | -3.55% | 139.3% |
Profit & Loss
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| Depreciation | 15 | 30 | 45 | 52 | 61 |
| Div. Payout % | 0% | 0% | 0% | 0% | — |
| EPS in Rs | -6,954 | -10,516 | 316 | 0.26 | 0.42 |
| Expenses | 17 | 40 | 43 | 78 | 124 |
| Interest | 7 | 17 | 31 | 45 | 49 |
| Net Profit | -8 | -13 | 0 | 2 | 3 |
| OPM % | 45% | 43% | 60% | 51% | 47% |
| Operating Profit | 14 | 30 | 65 | 80 | 108 |
| Other Income | 0 | 2 | 3 | 19 | 10 |
| PBT | -8 | -16 | -9 | 3 | 8 |
| Sales | 31 | 70 | 108 | 159 | 232 |
| Tax % | -9% | -20% | -105% | 34% | — |
Balance Sheet
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Borrowings | 89 | 239 | 328 | 389 | 323 |
| CWIP | 0 | 0 | 0 | 0 | 14 |
| Equity Capital | 0.01 | 0.01 | 0.01 | 13 | 22 |
| Fixed Assets | 79 | 228 | 269 | 293 | 295 |
| Investments | 1 | 1 | 9 | 53 | 53 |
| Other Assets | 21 | 54 | 133 | 193 | 275 |
| Other Liabilities | 18 | 46 | 57 | 100 | 132 |
| Reserves | -6 | -2 | 25 | 38 | 161 |
| Total Assets | 101 | 282 | 411 | 540 | 638 |
| Total Liabilities | 101 | 282 | 411 | 540 | 638 |
Cash Flow
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| CFO/OP | 107 | 93 | 16 | 130 |
| Financing | -6 | -4 | 33 | -53 |
| Investing | -7 | -24 | -41 | -38 |
| Operating | 14 | 26 | 8 | 94 |
| Free Cash Flow | 7 | 2 | -26 | 82 |
| Net Cash Flow | 1 | -1 | 0 | 3 |
Ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Cash Conversion Cycle | 23 | 19 | 40 | 97 |
| Debtor Days | 23 | 19 | 40 | 97 |
| ROCE % | — | 1% | 8% | 12% |
| Working Capital Days | -213 | -265 | -146 | -114 |
Documents
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
10h - Monitoring agency report for quarter ended March 31, 2026 shows nil deviation in IPO proceeds use.
10h - Monitoring agency report for quarter ended March 31, 2026 shows nil deviation in IPO proceeds use.
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
7h - Q4 and FY26 earnings conference call scheduled for May 20, 2026 at 2:30 PM IST.
7h - Q4 and FY26 earnings conference call scheduled for May 20, 2026 at 2:30 PM IST.
Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
23 Apr - Members approved preferential issue of convertible warrants to promoters and equity shares on April 23, 2026.
23 Apr - Members approved preferential issue of convertible warrants to promoters and equity shares on April 23, 2026.
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
23 Apr - Shareholders approved preferential issue of convertible warrants and equity shares on April 23, 2026.
23 Apr - Shareholders approved preferential issue of convertible warrants and equity shares on April 23, 2026.
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate.
29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate.
Monthly Newsletter - April 2026 Edition
7 May - April 2026 newsletter highlights awards, industry trends, events, and plans for a Bangalore centre.
7 May - April 2026 newsletter highlights awards, industry trends, events, and plans for a Bangalore centre.
Board Meeting Intimation for The Meeting Scheduled To Be Held On Tuesday, May 19, 2026.
1d - Board meeting on May 19, 2026 to approve FY26 results and consider NCD fund raising.
1d - Board meeting on May 19, 2026 to approve FY26 results and consider NCD fund raising.
Monthly Newsletter - April 2026 Edition
7 May - April 2026 newsletter highlights awards, industry trends, events, and plans for a Bangalore centre.
7 May - April 2026 newsletter highlights awards, industry trends, events, and plans for a Bangalore centre.
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate.
29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate.
Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
23 Apr - Members approved preferential issue of convertible warrants to promoters and equity shares on April 23, 2026.
23 Apr - Members approved preferential issue of convertible warrants to promoters and equity shares on April 23, 2026.
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
23 Apr - Shareholders approved preferential issue of convertible warrants and equity shares on April 23, 2026.
23 Apr - Shareholders approved preferential issue of convertible warrants and equity shares on April 23, 2026.
Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Apr - Newspaper Advertisements for Corrigendum to Postal Ballot Notice
22 Apr - Newspaper Advertisements for Corrigendum to Postal Ballot Notice
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate.
29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate.
Corrigendum To The Postal Ballot Notice Dated March 24, 2026
21 Apr - Corrigendum to 24 March postal ballot notice; revised valuation report for issue of 33,33,330 and 44,44,440 shares.
21 Apr - Corrigendum to 24 March postal ballot notice; revised valuation report for issue of 33,33,330 and 44,44,440 shares.
Announcement under Regulation 30 (LODR)-Change in Management
16 Apr - Monika Handa, VP Operations and Facility, resigned effective April 30, 2026.
16 Apr - Monika Handa, VP Operations and Facility, resigned effective April 30, 2026.
Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
7h - Members approved preferential issue of convertible warrants to promoters and equity shares on April 23, 2026.
7h - Members approved preferential issue of convertible warrants to promoters and equity shares on April 23, 2026.
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
7h - Shareholders approved preferential issue of convertible warrants and equity shares on April 23, 2026.
7h - Shareholders approved preferential issue of convertible warrants and equity shares on April 23, 2026.
Announcement under Regulation 30 (LODR)-Newspaper Publication
16h - Newspaper Advertisements for Corrigendum to Postal Ballot Notice
16h - Newspaper Advertisements for Corrigendum to Postal Ballot Notice
Corrigendum To The Postal Ballot Notice Dated March 24, 2026
11h - Corrigendum to 24 March postal ballot notice; revised valuation report for issue of 33,33,330 and 44,44,440 shares.
11h - Corrigendum to 24 March postal ballot notice; revised valuation report for issue of 33,33,330 and 44,44,440 shares.
Announcement under Regulation 30 (LODR)-Press Release / Media Release
13 Apr - DevX signs ₹110 crore, 9-year Ahmedabad workspace deal with Manubhai and Shah LLP.
13 Apr - DevX signs ₹110 crore, 9-year Ahmedabad workspace deal with Manubhai and Shah LLP.
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
3 Apr - Submitted Regulation 74(5) depository certificates for quarter ended March 31, 2026.
3 Apr - Submitted Regulation 74(5) depository certificates for quarter ended March 31, 2026.
Monthly Newsletter - March 2026 Edition
30 Mar - DevX to operate 27-storey Ahmedabad tower (~8 lakh sq ft), transaction ~₹850 crore; March 2026 newsletter.
30 Mar - DevX to operate 27-storey Ahmedabad tower (~8 lakh sq ft), transaction ~₹850 crore; March 2026 newsletter.
Announcement under Regulation 30 (LODR)-Newspaper Publication
25 Mar - Newspaper Advertisements - Dispatch of Postal Ballot Notice
25 Mar - Newspaper Advertisements - Dispatch of Postal Ballot Notice
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
25 Mar - Virtual analyst/investor meeting on 30-Mar-2026 03:00-04:00 with DB Investments, Emerge Capital, Burman Capital, Aionios Alpha.
25 Mar - Virtual analyst/investor meeting on 30-Mar-2026 03:00-04:00 with DB Investments, Emerge Capital, Burman Capital, Aionios Alpha.
Announcement under Regulation 30 (LODR)-Press Release / Media Release
24 Mar - Board approved up to ₹35 Cr fundraise (promoters ₹15 Cr) to secure 4,50,000 sq.ft Ahmedabad centre; ₹35.10 Cr deposit.
24 Mar - Board approved up to ₹35 Cr fundraise (promoters ₹15 Cr) to secure 4,50,000 sq.ft Ahmedabad centre; ₹35.10 Cr deposit.
Board Meeting Intimation for The Meeting Scheduled To Be Held On Tuesday, March 24, 2026.
17 Mar - Board to consider equity/other securities issuance for fundraising on March 24, 2026; trading window closed.
17 Mar - Board to consider equity/other securities issuance for fundraising on March 24, 2026; trading window closed.
Board Meeting Outcome for Outcome Of The Board Meeting
11h - Board approved 3,333,330 warrants (~Rs15cr) to promoters; 4,444,440 shares (~Rs20cr) to Infibeam (March 24, 2026).
11h - Board approved 3,333,330 warrants (~Rs15cr) to promoters; 4,444,440 shares (~Rs20cr) to Infibeam (March 24, 2026).
Announcement under Regulation 30 (LODR)-Preferential Issue
11h - Preferential issue: 33.33 lakh warrants and 44.44 lakh shares at Rs45, aggregating ~Rs35 crore; postal ballot.
11h - Preferential issue: 33.33 lakh warrants and 44.44 lakh shares at Rs45, aggregating ~Rs35 crore; postal ballot.
Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
10h - Preferential: 33,33,330 warrants to promoters (Rs14,99,99,850) and 44,44,440 shares to Infibeam (Rs19,99,99,800).
10h - Preferential: 33,33,330 warrants to promoters (Rs14,99,99,850) and 44,44,440 shares to Infibeam (Rs19,99,99,800).
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
10 Feb - Monitoring report Q3 (Dec 31, 2025): IPO Rs143.35cr, net proceeds Rs127.38cr, unutilised ~Rs39.94cr.
10 Feb - Monitoring report Q3 (Dec 31, 2025): IPO Rs143.35cr, net proceeds Rs127.38cr, unutilised ~Rs39.94cr.
Variation In Terms Of Issue Of Redeemable Preference Shares
10 Feb - Extended redemption of 3,577,519 0.01% pref shares (Rs10) to March 26, 2031.
10 Feb - Extended redemption of 3,577,519 0.01% pref shares (Rs10) to March 26, 2031.
Announcement under Regulation 30 (LODR)-Press Release / Media Release
12 Feb - Signs 8 lakh sq ft Ahmedabad DM deal; ₹850cr rentals, targeting ₹120cr annual revenue; 27-storey, 15-year agreement.
12 Feb - Signs 8 lakh sq ft Ahmedabad DM deal; ₹850cr rentals, targeting ₹120cr annual revenue; 27-storey, 15-year agreement.
Announcement under Regulation 30 (LODR)-Restructuring
18 Feb - 18 Feb 2026: Sold 38% in Scaleax to DevIT and Aaryan Shah for Rs.3,80,000; ceased being associate.
18 Feb - 18 Feb 2026: Sold 38% in Scaleax to DevIT and Aaryan Shah for Rs.3,80,000; ceased being associate.
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Mar - Schedule of Investor/Analyst Meet to be held on Monday, March 09, 2026.
2 Mar - Schedule of Investor/Analyst Meet to be held on Monday, March 09, 2026.
Frequently Asked Questions about Dev Accelerator Ltd
What does Dev Accelerator Ltd do?
Established in 2017, Dev Accelerator Limited, commonly known as DevX, provides flexible office spaces, including coworking environments[1]
Where is Dev Accelerator Ltd (DEVX) listed?
Dev Accelerator Ltd is listed on the Indian stock exchanges. It is listed on NSE: DEVX and BSE: 544513. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Dev Accelerator Ltd belong to?
Dev Accelerator Ltd operates in the Services sector within the Commercial Services & Supplies industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Dev Accelerator Ltd?
Dev Accelerator Ltd has a market capitalisation of approximately ₹376.53 Cr. Based on this, it is classified as a Small Cap stock.
What is the PE ratio of Dev Accelerator Ltd?
The Price-to-Earnings (PE) ratio of Dev Accelerator Ltd is 123.70. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Dev Accelerator Ltd?
Over the past 52 weeks, Dev Accelerator Ltd has traded between a low of ₹29.95 and a high of ₹64.05. This range helps investors understand the stock's price volatility and recent trading levels.
How can I research Dev Accelerator Ltd on Tapetide?
On Tapetide, you can view Dev Accelerator Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Established in 2017, Dev Accelerator Limited, commonly known as DevX, provides flexible office spaces, including coworking environments[1]
Website devx.work
CEO Mr. Parth Naimeshbhai Shah
Employees 166
Listed 2025-09-17
Face Value ₹ 2
Issued Size 9,01,87,515