Established in 2017, Dev Accelerator Limited (DevX) is one of India’s leading providers of flexible office space solutions, including managed office spaces and coworking environments. With a rapidly growing presence, the company has expanded from a single location to 28 operational centers across 11 cities in India as of May 31, 2025, offering 14,144 seats across 860,522 sq. ft. of managed space.

Business Overview

DevX’s core offering revolves around providing flexible, customizable workspaces tailored to the evolving needs of corporates, MNCs, and SMEs. Their service portfolio includes:

• Managed Office Spaces: Tailored for large enterprises (100–500+ seats), these spaces are custom-designed and fully managed by DevX.
• Coworking Spaces: Ready-to-use shared workspaces ideal for freelancers, startups, and remote teams.
• Design & Execution Services: Through its subsidiary Neddle and Thread Designs LLP, DevX offers interior design and build services for both its own centers and external client offices.
• Facility & Payroll Management: Includes end-to-end employee management, housekeeping, security, and IT support.
• IT/ITeS Services: Offered via Saasjoy Solutions Pvt. Ltd., covering software development, cloud services, data analytics, and digital marketing.

Growth and Expansion

• As of May 2025, DevX has served over 250 clients, including major names like Zomato, Wipfli India LLP, and QX Global Services.
• The company is expanding with LOIs signed for three new centers, including its first international center in Sydney, Australia, and a new center in Surat.
• The upcoming centers will add 11,500 seats across 897,341 sq. ft., with plans to establish 8 more centers over the next two fiscals, including Tier 1 and Tier 2 cities and international locations.

Market Position & Strengths

• Tier 2 Market Leadership: DevX is among the largest managed office space operators in Tier 2 cities, with strong presence in Ahmedabad, Indore, Jaipur, Udaipur, Gandhinagar, Rajkot, and Vadodara.
• High Occupancy Rates: The company maintains 87.19% occupancy across its centers (as of May 2025), reflecting strong demand and customer satisfaction.
• Pan-India Reach: Present in 11 cities, including major metros like Mumbai, Pune, Hyderabad, and Delhi-NCR, while also dominating Tier 2 regions.
• Strong Financial Performance:
  • FY 2025: ₹933.75 million from managed office solutions
  • FY 2024: ₹740.35 million
  • FY 2023: ₹353.14 million