Dev Accelerator Limited is one of the largest flexible workspace operators in Tier 2 markets in India (Source: JLL Report). Since inception, the company has expanded across Tier 1 and Tier 2 cities, including Delhi NCR, Hyderabad, Mumbai, Pune, Ahmedabad, Gandhinagar, Indore, Jaipur, Udaipur, Rajkot, and Vadodara. As of May 31, 2025, it operates 28 centers across 11 cities, with 14,144 seats and a super built-up area of 860,522 sq. ft., serving over 250 clients.

Service Offerings

1) Managed Office Spaces: Custom-built office setups for large businesses (100–500 seats), Services include design, development, and long-term management and Lease tenures average 5–9 years with 3.5–5 years lock-in, ensuring stable revenues.

2. Coworking Spaces: Ready-to-use workspaces designed for freelancers, start-ups, and remote workers and Promotes collaboration, networking, and flexibility.

3. Design & Execution Services: Provided through subsidiary Needle and Thread Designs LLP and End-to-end design and build services for both Dev Accelerator centers and client offices.

4. Payroll Management Services: Comprehensive employee lifecycle management and Covers onboarding, payroll, compliance, and statutory requirements.

5. Facility Management Services: IT infrastructure, housekeeping, valet parking, security, and administrative support and Ensures seamless day-to-day operations for clients.

6. IT/ITeS Services: Through subsidiary Saasjoy Solutions Pvt. Ltd. and Offerings include software development, cloud services, data analytics, and digital marketing.

Clientele

Dev Accelerator caters to large corporates, MNCs, and SMEs, offering customized workspace solutions that combine flexibility with efficiency. The company’s customer-centric model emphasizes zero capital expenditure for clients, enabling them to establish and expand operations without heavy upfront investment.

Market Position & Growth

Dev Accelerator Limited holds a leadership position in Tier 2 flex space markets while maintaining a strong presence in Tier 1 cities. In FY25, revenue from managed office solutions stood at ₹933.75 million, contributing 58.8% of total revenue. Between March 2023 and March 2025, the company also recorded robust growth, with centers, seats, and super built-up area expanding at CAGRs of 23.67%, 16.34%, and 15.24%, respectively

Strengths

i) Leadership in Tier 2 Markets: Well-positioned to capture India’s growing demand for flexible workspaces.
ii) Integrated Platform Model: End-to-end offerings covering design, build, management, and tech solutions.
iii) Customer-Centric Approach: Zero capex model enabling clients to focus resources on core operations.
iv) Strong Financial & Operating Metrics: Rapid expansion of centers, seats, and clientele in recent years.
v) Experienced Leadership: Promoters Parth Naimeshbhai Shah, Umesh Satishkumar Uttamchandani, and Rushit Shardulkumar Shah bring 21+ years of cumulative experience in the flexible workspace sector. Supported by a professional Board with five Independent Directors.