Dev Accelerator Limited has filed a regulatory disclosure providing an update on pending litigation proceedings under SEBI compliance requirements. The company informed stock exchanges about developments in a commercial court case that was scheduled for hearing on December 20, 2025.

Case Details and Current Status

The litigation involves an application filed by LRS Service Private Limited before the Commercial Court of Kasna, Gautam Budh Nagar, Uttar Pradesh. The application was filed under Section 9 of the Arbitration and Conciliation Act, 1996, and was previously disclosed in Dev Accelerator's prospectus dated September 13, 2025.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 read with Para B(8) of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company also referenced Clause 8 of the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company's Position

Dev Accelerator Limited has stated that it will provide further updates as and when there is a substantial development in the matter. The company confirmed that the current status involves only the adjournment of the hearing date, with no other material changes reported at this time.

The disclosure was signed by Anjan Trivedi, Company Secretary and Compliance Officer, and submitted to both BSE Limited and National Stock Exchange of India Limited on December 20, 2025.

Dev Accelerator Limited, a leading enterprise-focused managed workspace provider, has reported significant growth in its financial performance for the first half of the fiscal year. The company achieved a revenue of INR 107.47 crores, representing an impressive 80% year-on-year growth.

Financial Highlights

• Revenue: INR 107.47 crores in H1, up 80% from INR 59.38 crores in H1 of the previous year
• EBITDA: INR 52.82 crores, a 64% increase from the previous year
• EBITDA Margin: Maintained around 50%
• Cash EBIT: INR 19.80 crores, with an 18.5% margin

Expansion Plans

Dev Accelerator Limited plans to launch India's largest single managed office campus in a tier-2 city:

• Location: Ahmedabad
• Size: 3.15 lakh square feet
• Capacity: 3,990 seats
• Pre-occupancy: 95%
• Expected Monthly Revenue: INR 2.50 crores (starting January)

Operational Metrics

Future Outlook

• The company aims to add 14,000 to 15,000 seats in the next 12 to 18 months.
• Expansion plans include new centers in Pune, Chennai, and additional capacity in Ahmedabad.
• Dev Accelerator Limited targets consolidated revenue of INR 330-350 crores by a specific future date.

Management Commentary

Umesh Uttamchandani, Managing Director of Dev Accelerator Limited, stated, "The first half reflects a strong disciplined execution by our team and a sharper mix of enterprise-grade managed office spaces. Our focus on Tier 2 cities aligns with the rising Bharat story, and we're seeing strong demand from mid to large-size enterprises and Global Capability Centers."

The company's strategy of maintaining a 70-30 split between tier-2 and tier-1 cities is expected to continue, capitalizing on the growing demand for flexible workspace solutions in emerging urban centers.

Dev Accelerator Limited's robust performance and ambitious expansion plans underscore the growing trend of flexible office spaces in India, particularly in tier-2 cities. As businesses seek agile workspace solutions, the company is well-positioned to benefit from this shift in corporate real estate preferences.