Dev Accelerator Limited — Interim / Quarterly Report 2026

Oct 7, 2025

Date: October 07, 2025

To, To BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1, G Block, Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai 400 001 Mumbai 400 051 Script Code: 544513 Trading Symbol: DEVX

Dear Sir/ Madam,

Sub: Investor Presentation on Unaudited Financial Results

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the investor presentation with respect financial results for the quarter ended June 30, 2025 is attached and also available on the website of the Company at https://www.devx.work/investor-relations/financials

This is for your information and record.

Thanking you

Yours faithfully,

For Dev Accelerator Limited

(Formerly Known as Dev Accelerator Private Limited) ANJAN PARESHKUMAR TRIVEDI Digitally signed by ANJAN PARESHKUMAR TRIVEDI DN: c=IN, postalCode=380054, st=GUJARAT, street=102 VIHARDHAM APPARTMENT JAY AMBE NAGAR THALTEJ AHMEDABADAHMEDABADBH LAVKHUSH TOWER OOP 380054, l=AHMEDABAD, o=Personal, title=2904, serialNumber=f4402c7aabfce0fb45a8248836464bebff12a13df132247b28e9c24123c9b31c, pseudonym=b9a603140314a0c7116cead4335dbf1b, 2.5.4.20=210a9a873710ce0c51eb447039b745a5bd547e0625e5c449514c9ce676f70f29, email=ANJAN.TRIVEDI@DEVX.WORK, cn=ANJAN PARESHKUMAR TRIVEDI Date: 2025.10.07 18:53:57 +05'30'

Anjan Trivedi

Company Secretary & Compliance Officer

Encl: As above

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Presentation Investor Presentation Q1 FY26 Q1 FY26

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Financial Highlights- Q1 FY26

About DevX

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One of the largest flex operators in terms of operational flex stock in Tier 2 markets

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Comprehensive office space solutions Services from sourcing office spaces, customizing designs, developing spaces, and providing technology solutions to providing complete asset management

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Pan India presence with 85%+ occupancy rates in all fiscals and stub period Operating 28 Centers across 11 cities in India, with 14,144 seats covering a total area under management of 860,552 sqft.

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Targeting high growth tier 2 markets of the total 28 centres, 16 are located in Tier 2 markets, thereby holding 12.7% share of the overall Tier 2 market

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Asset procurement strategy Source and procure our workspace through straight lease model, revenue share model, Opco-Propco and landlord furnished model

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Seasoned team comprising industry veterans Promoters having a cumulative of over 21 in the flexible sector with a 14- experience years workspace along member execution team with 16 years of industry experience

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₹

Financial overview

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158.75
59.91%
160.00
60.00%
42.64%
140.00
47.45%
44.98% 50.00%
120.00 108.07
50.69%
100.00 40.00%
80.00 69.91
30.00%
55.63
60.00
20.00%
40.00 30.83
10.00%
20.00
0.00 0.00%
FY 22 FY 23 FY 24 FY 25 Q1 FY26
Revenue EBITDA Margin %
Operational KPIs
28
25 25
17 0.86
0.81
0.81
9
0.63
0.34
2022 2023 2024 2025 Q1 FY26
Built up area (Mn Sqft.) Operational centers
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Source: JLL Research Ǫ1 FY2026

3

DevX Group | Q1 FY26

Financial Metrics

₹55.63 Crores

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Revenue
123.30%
Vs ₹ 24.91 Cr in Q1 FY25
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Cash EBIT

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18.05%
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10.04Cr Cash EBIT in Q1 FY26
Vs (0.92%) in Q1 FY25
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₹0.95 Crores
₹26.39 Crores
PBT
EBITDA
116.72%
88.36%
Vs (5.66) Cr in Q1 FY25
Vs ₹ 14.01 Cr in Q1 FY25
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PBT Margin

EBITDA Margin

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47.45 %
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1.70%
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Vs 56.25% in Q1 FY25

Vs (22.73)% in Q1 FY25

INDAS Equivalent

4

4

DevX Group | Q1 FY26

Margins over Last Quarters

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₹

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Revenue EBITDA PAT
65.40 EBITDA Margin % PBT Margin % PAT Margin %
55.63
56.25%
47.99% 47.45%
134%
123.3%
31.39 6.74%
0.53%
26.39
24.9 3.88%
1.70%
88.36%
Q1 FY25 Q4 FY25 Q1 FY26
14.01
102.34%
-22.73%
2.11
0.14
-42.62%
Q1 FY25 Q4 FY25 Q1 FY26
(5.97)
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45 DevX Group | Q1 FY26

Cash EBIT

₹

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PARTICULARS Q1 FY25 Q4 FY25 Q1 FY26		-0.92% 24.4% 18.05% Cash EBIT %
Revenue from operations 24.91 65.40 55.63
Less : Purchases of traded goods 4.18 25.93 16.8 Less : Employee benefits expense 2.45 4.61 4.64 Less : Other expenses 4.27 3.48 7.79
Expenses 10.90 34.02 29.23
Less : Payment of lease liabilities 14.24 15.41 16.36
Cash EBIT (0.23) 15.98 10.04*
		Q1 FY25 Q4 FY25 Q1 FY26

Cash EBIT- Cash EBIT is calculated as EBITDA less Lease Payments (EBITDA adjusted for cash outflow for lease liabilities during the year)

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654 DevX Group | Q1 FY26

Operational Highlights- Q1 FY26

Our Presence with High Occupancy

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₹

Present across 11 cities, with an average overall occupancy levels of 85%+ in all fiscals

								Tier & City wise %	of Total Revenue –Q1 FY26	of Total Revenue –Q1 FY26
					Our Presence			Location	% of Revenue	Revenue
								Total Tier 1	28.62%	11.20
								Pune, Maharashtra	8.75%	3.43
								Hyderabad, Telangana	7.24%	2.83
								Noida, Uttar Pradesh	7.03%	2.75
								Mumbai, Maharashtra	5.60%	2.19
								Total Tier 2	71.38%	25.72
								Ahmedabad, Gujarat	46.94%	18.16
								Vadodara, Gujarat	8.72%	3.41
								Jaipur, Rajasthan	6.28%	0.45
								Gandhinagar, Gujarat	4.24%	1.66
								Surat, Gujarat	1.92%	0.75
								Indore, Madhya Pradesh	1.71%	0.67
								Rajkot, Gujarat	1.14%	0.45
*	As	at	Q1	FY26				Udaipur, Rajasthan	0.44%	0.17

1 Includes 28 centres operational as at June 2025

Tier 1 & 2 consists only of DevX Standalone financials

8

8654 DevX Group | Q1 EF Y26

Our Clientele

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Serving 307 clients*, including domestic corporations and MNCs

Top 4 clients Total Industries Catered Top 10 clients Revenue contribution Q1 FY26 ǪX Global Services Information technology Private Limited Information technology enabled Paperchase services 44.39% Accountancy India Pvt Media and Entertainment FY 25 Eternal Limited BFSI Horizontal Limited Consulting 38.58%

• As at Q1 FY26

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9 DevX Group | Q1 FY26

Operational Metrics

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0.86 Mn Sq.ft.
28
11
AUM Centers
Cities
7% 12%
Vs 25 centers Q1 FY25
Vs 0.81 in Q1 FY25
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Occupancy
14.14 K+
Total Seats
88.6%
9%
Vs 12.9k in Q1 FY25
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12.53 K+
Occupied Seats
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10 DevX Group | Q1 FY26

Improving Overall Occupancy

Total Seats Occupied Seats Occupancy %

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14,144
13,759
12,961
12,534
12,054
10,547
87.61%
81.37% 88.62%
Q1 FY25 Q4 FY25 Q1 FY26
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307

Clients

81.43% Sourced Directly

(4.55)%

*** Net Churn Rate**

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Managed Space
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Net churn rate – Total clients left subtracted by total new clients added as on June-25

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11DevX Group | Q1 FY26

Seats wise Occupancy & Total Lease period

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Total Lease vs Client Lock-in

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2.30%
15.33%
82.38%
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0 to 100 Seats 100-300 Seats 300+ Seats

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74.94
70.74%
65.11
59.09%
57.57%
43.14 42.98
38.47
30.41
300+ Seats 100-300 Seats 0 to 100 Seats
Client Lease Client Lock-In months
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12

DevX Group | Q1 FY26

Annexure

Consolidated Income Statement

	Consolidated Income	Statement		₹
	`
	Particulars	Q1 FY25	Q4 FY25	Q1 FY26
	Revenue from operations	24.91	65.40	55.63
	Other income	0.15	2.94	1.31
	Total Income	25.06	68.35	56.94
	Operational expenses	8.45	29.41	24.60
	Employee benefit expenses	2.45	4.61	4.644
	Finance costs	8.75	15.18	12.26
	Depreciation and amortisation	11.13	16.54	14.51
	Total expenses	30.78	65.73	56.00
	Profit/ (loss) before exceptional items and tax	(5.72)	2.62	0.93
	Share of Profit/(Loss) of Associates	0.06	(0.08)	0.01
	Profit before tax	(5.66)	2.54	0.95
	Current tax*	-	1.13	0.26
	Deferred tax*	0.31	(0.93)	0.21
	Adjustment of Tax for earlier Years	0.31	0.22	0.34
	Total Tax Expenses		0.42	0.81
	Profit for the period	(5.97)	2.12	0.14

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14 DevX Group | Q1 FY26

Key Operating KPIs

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	Key Operating KPIs
	Particulars	Q1 FY25	Q4 FY25	Q1 FY26
	AUM in SBA (Mn Sq.ft.)	0.81	0.84	0.86
	Number of Cities by AUM	11	11	11
	Number of Centers by AUM	25	26	28
	Active stock (Mn Sq.ft.)	0.81	0.84	0.86
	Number of seats (under active stock)	12,961	13,759	14,144
	Centres (under active stock)	25	26	28
	Cities (under active stock)	11	11	11
	Occupied seats	10,547	12,054	12,534
	Occupancy %	81.37%	87.61%	88.62%
	Revenue to Rent Ratio	1.70	2.88	2.38
	Brokerage % Revenue from Operations	2.17%	0.93%	1.10%

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1514 DevX Group | Q1 FY26

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Presentation Thank You Q1 FY26

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