The model has enabled rapid growth across Mumbai, Hyderabad and Tier II hubs, delivering up to 30% higher returns to landowner partners compared to traditional models
Ahmedabad (Gujarat), 21st
January 2025 : Dev Accelerator
Limited (NSE: DEVX; BSE: 544513), one of India’s
leading enterprise-focused managed office space providers, continues to scale
and create value through its strategic Development Management (DM) model. This
innovative framework has propelled the company’s footprint to over 8.6 lakh
square feet of operational space across 28 centers. The company reported INR
1780 Mn in revenue for FY 25, a major shift in how commercial real estate
assets are developed and monetized in India.
Moving beyond traditional Joint
Development Agreements (JDAs) where land titles are often split, the DevX DM
model empowers landowners to retain 100% ownership and control of their assets.
This approach has been instrumental in the company’s expansion into major
metros like Mumbai and Hyderabad, as well as high growth Tier II cities
including Ahmedabad, Jaipur, Udaipur, Indore, and Surat. Clients like
Zomato, Manubhai & Shah, Wipfli, Paperchase & Co. and Persistent
Systems have taken up spaces with DevX across multiple cities.
By stepping in as a strategic
partner rather than just a developer, DevX manages the entire project lifecycle
end to end. This includes feasibility studies, design, government approvals,
construction monitoring and final leasing.
Speaking on the success of the
model, Mr. Umesh Uttamchandani, Managing Director, Dev Accelerator
Limited, said, “At the heart of our strategy is the Development
Management model, designed to bridge the gap between non-institutional
landowners and the growing demand for institutional-grade office assets. We are
witnessing a clear shift in landowners increasingly seeking professional
partners who can unlock the full value of their land without diluting
ownership. Our model delivers exactly that - offering real-time
digital visibility across the development lifecycle and a success-linked fee
structure that aligns interests from day one. This collaborative approach
allows us to scale rapidly while delivering premium, ready to move workspaces
for our enterprise clients.”
The DM model addresses critical
market challenges such as capital availability and complex regulatory
compliance by leveraging DevX's institutional grade processes and funding
networks. For landowners, this partnership translates into superior financial
outcomes, offering 20% to 30% higher overall returns by saving on stamp duty
costs and generating additional income streams.
DevX differentiates itself
through a "supply led" and "demand led" approach, where 70%
of its portfolio caters to large enterprise clients with long term needs. The
company’s in house expertise covers every aspect of development. This includes
"Phi Designs" for interior solutions and dedicated teams for project
management and leasing. This integrated capability ensures that projects are
completed within strict timelines, often transforming visions into fully
furnished offices within 75 to 90 days.
As India’s real estate sector
matures with better consultants and enhanced transparency, the demand for
professional development management is rising. DevX is well positioned to lead
this transformation, having already secured an additional 7.2 lakh square feet
in signed agreements. The company remains committed to building vibrant
communities and sustainable assets that generate long term value for all
stakeholders.
About Dev Accelerator Limited
Dev Accelerator Limited is an
enterprise focused, full solution managed workspace platform. We design, build
and operate custom offices end to end covering site selection, bespoke fit
outs, technology integration and facility management under a single SLA.
With one of India’s largest Tier
2 footprints by operational flex stock, DevX serves enterprises, startups and
global corporations with collaborative, customizable work environments across
the country. The company operates 28 centres across multiple Indian cities with
over 14,000 seats and 8.6 lakh sq. ft. under management. This is complemented
by design and build and allied services that ensure fast handovers and
consistent standards.
For more information, please
visit www.devx.work