Dev Accelerator Limited announced its consolidated financial results for the quarter ended December 31, 2025, reporting a net loss despite achieving revenue growth. The co-working space provider's performance was significantly impacted by exceptional items related to operational restructuring.

Financial Performance Overview

The company's consolidated financial performance for Q3FY26 showed mixed results:

The company achieved revenue growth of 19.00% in Q3FY26, with consolidated revenue from operations reaching ₹5,919.80 lakhs compared to ₹4,974.74 lakhs in Q3FY25. However, this growth was overshadowed by a net loss of ₹101.28 lakhs, a significant decline from the profit of ₹69.47 lakhs recorded in the corresponding quarter of the previous year.

Impact of Exceptional Items

The company's profitability was severely affected by exceptional items worth ₹132.66 lakhs during the quarter. These exceptional items were related to the cessation of operations at one of the company's centers, where Dev Accelerator accounted for gains and losses from lease termination through the consolidated profit and loss account.

Nine-Month Performance

For the nine months ended December 31, 2025, the company demonstrated stronger overall performance:

Strategic Divestment Announcement

The Board of Directors approved the divestment of 38% equity investment in associate company Scaleax Advisory Private Limited for an aggregate consideration of ₹3.80 lakhs. The stake will be sold to Dev Information Technology Limited (a corporate promoter) and Mr. Aaryan Jaxay Shah. Post-transaction, Scaleax will cease to be an associate company.

IPO Proceeds Utilization

The company provided an update on the utilization of IPO proceeds raised through its public offering in September 2025:

The company has utilized ₹8,744.00 lakhs of the total IPO proceeds of ₹12,738.00 lakhs, with the remaining ₹3,994.00 lakhs parked in monitoring accounts and fixed deposits.

Operational Context

Dev Accelerator operates in the co-working space segment, providing renting and provision of co-working spaces as its primary business. The company's results reflect the challenges in the co-working industry while demonstrating resilience through revenue growth and strategic portfolio optimization through the proposed divestment.

Dev Accelerator Limited has announced an earnings conference call scheduled for Monday, February 02, 2026 at 02:00 PM IST to discuss the company's operational and financial performance for the third quarter and nine months of FY26. The announcement was made through a regulatory filing to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Conference Call Details

The earnings call will provide investors and analysts an opportunity to interact with the company's senior management team regarding Q3 & 9M FY26 results. The company has arranged comprehensive access options for participants across different geographical locations.

Management Participation

The conference call will feature participation from Dev Accelerator Limited's senior management team, providing comprehensive insights into the company's performance and strategic direction.

Key Management Representatives:

• Mr. Parth Shah – Chairman and Whole-Time Director
• Mr. Umesh Uttamchandani – Managing Director
• Mr. Rushit Shah – Whole-Time Director
• Mr. Parin Shah – Joint Chief Financial Officer
• Mr. Parthiv Panchal – Joint Chief Financial Officer

Company Information

Dev Accelerator Limited, formerly known as Dev Accelerator Private Limited, operates under the trading symbol DEVX on stock exchanges. The company is incorporated with CIN L74999GJ2020PLC115984 and is headquartered in Ahmedabad, Gujarat. The regulatory filing was signed by Company Secretary & Compliance Officer Anjan Trivedi.

For RSVP and additional information regarding the earnings call, participants can contact Ms. Ashama Rajawat or Mr. Shubham Sangle from Adfactors PR at the provided contact numbers +91 80055 32651 and +91 70395 16755 respectively.