Dev Accelerator Limited has strengthened its presence in Bengaluru by acquiring two premium Grade A+ office assets in partnership with Prestige Group. The expansion spans 1.11 lakh sq ft and adds over 1,200 seats to the company's portfolio. This strategic scale-up in the Outer Ring Road micro-market is expected to generate approximately ₹2.2 crore in monthly revenue.

The first asset is located at Lakeshore Drive opposite Bellandur Lake within a 90-acre corporate campus. This premium asset is designed to cater to enterprise requirements and is expected to launch on August 1, 2026. The company will invest approximately ₹10 crore towards fit-outs and infrastructure development for this facility.

The second development, Prestige Featherlite Tech Hub, is an integrated Grade A+ asset focusing on the Walk to Work model. It targets occupiers prioritising reduced commute times and operational efficiency. Securing these assets strengthens the company's footprint in one of Asia's largest IT corridors.

Financial and Operational Overview

The expansion details are summarised below:

Management Commentary

Umesh Uttamchandani, Managing Director of Dev Accelerator Limited, stated that expanding within Bengaluru's Outer Ring Road aligns with long-term demand consolidation. He noted strong demand from AI-native global capability centers (GCCs) in manufacturing and retail sectors. Juggy Marwaha, CEO & Executive Director of Prestige Group, added that the collaboration supports the creation of sustainable Grade A+ ecosystems for global enterprises.

Dev Accelerator Limited operates 28 centres across multiple Indian cities with over 17,000 seats and 1.2 million sq. ft. under management.

Dev Accelerator Limited has resolved a pending litigation matter with LRS Service Private Limited through an amicable settlement. The company executed a Settlement Deed with the opposing party on June 04, 2026, effectively concluding the proceedings before the Commercial Court at Kasna, Gautam Budh Nagar, Uttar Pradesh. The resolution was formally placed before Commercial Court No. 1, where the petition was disposed of based on non-pressing and the terms of the settlement.

Settlement Terms

The agreement outlines specific financial adjustments between the two parties. LRS Service Private Limited agreed to allow the adjustment of its security deposit of ₹12,13,000 against partial rent for the period from October to December 2024. Additionally, Dev Accelerator Limited has waived its claim of ₹17,50,000, which was payable by LRS under an earlier Settlement Deed dated August 30, 2025. This waiver also covers all claims towards rent for the remaining lock-in period and other related charges.

Financial Impact

The settlement stipulates that neither party has paid any penalty nor received any compensation. The company stated that the financial impact of this settlement is limited to the waiver of revenue bills that were previously raised on LRS. Both parties have agreed that all claims arising out of the Sub-Lease and its variations stand fully and finally settled, with no further claims permissible against one another.

Key Settlement Details