| Metric | Value (₹ Cr) | vs Q3 FY26 |
|---|---|---|
| Revenue | 59.26 | 0.1% |
| Total Income | 63.35 | 4.3% |
| Expenditure | 51.65 | 13.1% |
| PBT | 10.55 | 305.2% |
| Net Profit | 7.96 | 886.1% |
| OPM | 52.96% | 10.27pp |
| NPM | 12.57% | 14.24pp |
| EPS | 0.98 | 553.3% |
Dev Accelerator FY26 Revenue Up 34.3% YoY to ₹170.91 Cr
20 May 2026 · 20 May, 1:50 pm
Summary
Dev Accelerator Limited announced strong financial results for Q4 and FY26, with standalone revenue from operations growing 34.3% YoY to ₹170.91 crore and consolidated revenue reaching ₹226 crores, up 42.2% YoY. The company achieved significant profit growth, with standalone Cash EBIT surging by 111.12% to ₹36.55 crore and Normalised PBT rising 44.06% to ₹20.24 crore for FY26. Standalone EBITDA margin expanded to 60.54%, driven by new centre additions and improved enterprise client realizations. Management expressed confidence in future growth, targeting to double operational capacity to approximately 30 lakh sq. ft. by FY28, supported by a strong contracted pipeline and the acceleration of GCC migration into Tier-2 India.
Key Highlights
- 1
Standalone Revenue from Operations grew by 34.3% year-on-year to ₹170.91 crore for FY26.
- 2
The company's standalone EBITDA Margin expanded to 60.54% in FY26, up from 59.76% in FY25.
- 3
Cash EBIT saw a significant increase of 111.12% year-on-year, reaching ₹36.55 crore for FY26.
- 4
Normalised PBT for FY26 stood at ₹20.24 crore, marking a 44.06% growth year-on-year.
- 5
Consolidated Revenue from Operations reached ₹226 crores in FY26, a 42.2% increase year-on-year, with consolidated EBITDA Margin at 48.4%.
- 6
Dev Accelerator signed 8.1 lakh sq. ft. under Development Management contracts, entailing an investment commitment of approximately ₹100 crores over four years.
- 7
The Capital One centre, comprising 3.15 lakh sq. ft. and ~4,000 seats, became operational in Q4 FY26 with an impressive 95% pre-leasing prior to launch.
Management Comments
Umesh Uttamchandani
FY26 has been an eventful year for us, marked with several major milestones. The year marked our first complete financial year as a listed company. Our Tier-2-focused strategy translated into measurable financial outcomes, deeper enterprise client commitments and the largest single managed office contract in our company's history. The fiscal closed with standalone revenue of ₹171 crore, up 34.3% YoY over our FY25 base of ₹127 crore, while standalone EBITDA margin expanded to 60.5% from 59.8% in the previous year. Profit before tax grew 922% to ₹10 crore, while normalized PBT came in at ₹ 20 crore, marking the second consecutive year of positive PBT performance, supported by operating leverage from mature centres and improved enterprise realisations. Operationally, FY26 was defined by the consolidation of ~15.75 lakh sq. ft. of contracted space along the Ambli– Bopal corridor in Ahmedabad. This comprises of Capital One, which became operational in Q4 at 95% pre- leasing, plus the 8.1 lakh sq. ft. Development Management contract, and Winston signed in Q4. The Development Management model is an additional line of revenue, which partners DevX with non-institutional landowners to create Grade A+ assets for GCC consumption, asset-light for us, and delivering up to 30% higher returns for landowner partners, is now our defining differentiator, reinforced by structurally strong unit economics: Tier 1 Rent-to Revenue Ratio of 2.4x against the industry average of 2.2x, 65% revenue from enterprise clients on built-to-suit contracts, 99.7% seat retention, and zero net churn rate. Looking ahead, we are targeting to double our operational capacity to ~30 lakh sq. ft. by FY28 by replicating the Ambli–Bopal playbook across additional Tier-2 micro-markets. With the preferential issue approved by shareholders, a strong contracted pipeline, and the structural migration of GCCs into Tier-2 India continuing to accelerate, we remain confident of delivering sustained growth and long-term value.
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