Dev Accelerator Limited promoter Umesh Satishkumar Uttamchandani declared that he and the promoter group did not create any encumbrance on shares during the financial year ended March 31, 2026. The disclosure, submitted to BSE Limited and National Stock Exchange of India Limited, confirms compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The declaration assures investors that no shares were pledged directly or indirectly by the promoter group throughout FY26.

The filing, dated April 06, 2026, was addressed to the stock exchanges and the Audit Committee of dev accelerator . It explicitly states that no encumbrance was made by the promoter or the promoter group during the financial year 2025-2026. This regulatory requirement mandates promoters to disclose any pledging of shares to ensure transparency for shareholders.

Promoter and Promoter Group Details

The declaration covers a comprehensive list of individuals and entities associated with the company. The promoter group includes 53 names, ranging from individuals to corporate entities and Hindu Undivided Families (HUFs).

The full list of 53 entities is detailed in Annexure-A of the regulatory filing. The disclosure was signed by Umesh Satishkumar Uttamchandani on behalf of the promoter and promoter group.

Dev Accelerator Limited has reported a consolidated net profit of ₹884.21 lakh for the fiscal year ended March 31, 2026, a significant increase of 396% from ₹178.23 lakh in the previous year. Revenue from operations for FY26 stood at ₹22,592.26 lakh, compared to ₹15,887.45 lakh in FY25, driven by the company's focus on Tier 2 cities. The board approved the audited financial results during its meeting held on May 19, 2026, and the statutory auditors, M/s. Nisarg J Shah & Co., issued an unmodified opinion.

Financial Performance

For the quarter ended March 31, 2026, the company recorded a consolidated net profit of ₹796.20 lakh, reversing from a loss of ₹101.28 lakh in the preceding quarter ended December 31, 2025. Revenue from operations for the quarter was ₹5,925.96 lakh. The company achieved a consolidated EBITDA of ₹109 crore with a margin of 48.4% for the full year, while standalone EBITDA reached ₹171 crore with a margin of 60.5%.

Operational Highlights

Dev Accelerator maintained an occupancy level of 90.31% across 28 centers in 12 cities, with 0.83 million sq. ft. of Assets Under Management (AUM) and 12,015 occupied seats. The Rent to Revenue Ratio stood at 2.28x, and the net churn rate was 0.0%. The company noted that 65% of its revenue comes from enterprise clients on built-to-suit contracts, with an average lock-in period of 34 months. During the year, the company signed and secured approximately 15.75 lakh sq. ft. of contracted space in the Ambli Bopal micro market in Ahmedabad.

Strategic Outlook and Fund Raising

The board approved a proposal to raise funds through the issuance of Non-Convertible Debentures (NCDs) aggregating up to ₹100 crore on a private placement basis. The company plans to invest roughly ₹200 crore to ₹225 crore over the next two years to expand its operational area from 1.2 million sq. ft. to 3 million sq. ft. by FY28. Management anticipates a revenue run rate of ₹330 crore to ₹350 crore in FY27, with a cash EBIT margin of 21-22%. The company also expects a liquidity event of ₹110 crore to ₹120 crore in Q1 FY27 from the monetization of a subsidiary holding.