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DevX posts ₹8 Cr profit in Q4 FY26

What they do

DevX provides managed office and coworking spaces across 11 Indian cities

Q4 FY26 net profit jumped to ₹8 Cr from ₹2.11 Cr a year ago, while revenue fell 10% to ₹59.2 Cr

The company returned to profit after a Q3 loss and plans to raise ₹100 Cr via NCDs

DevX reported a net profit of ₹8 Cr in Q4 FY26, up from ₹2.11 Cr in Q4 FY25.
The company returned to profit after a ₹1 Cr loss in Q3 FY26.
Operating revenue for Q4 FY26 was ₹59.2 Cr, down ~10% from ₹65.4 Cr a year ago.
Total income stood at ₹63.3 Cr, including ₹4 Cr other income (up 39% YoY).
Expenses fell 21% YoY to ₹51.7 Cr, and cost of goods and services dropped to ₹17.5 Cr.
Full-year FY26 profit was ₹8.8 Cr, a 4X jump from ₹1.8 Cr in FY25.
Full-year operating revenue rose 42% to ₹225.9 Cr from ₹158.9 Cr in FY25.

DevX went public in September 2025, raising ₹143.35 Cr via a fresh issue.
IPO proceeds are being used to fit out new centres, including a first international centre in Sydney.
The company signed 8.1 lakh sq ft under development management contracts with a ₹100 Cr investment commitment over four years.
It also signed 4.5 lakh sq ft at Winston under a straight lease model along the Ambli–Bopal corridor.

DevX provides workspace solutions to large businesses across 11 Indian cities including Mumbai, Pune, Noida, and Rajkot.
It offers managed office spaces, individual coworking spaces, office designing solutions, and facility management services.
The company operates over 25 centres across more than 10 Indian cities.
Majority of revenue comes from Ahmedabad, followed by Vadodara, Pune, Hyderabad, and Noida.
Its client portfolio includes Zomato, WhiteOak, Tim Hortons, Hitachi, and Darwinbox.
DevX competes with listed players Awfis, WeWork, Smartworks, and IndiQube.

DevX plans to raise ₹100 Cr via up to 1 lakh NCDs on a private placement basis.
The board approved a ₹35 Cr fundraise via warrants to promoters Parth Shah, Umesh Uttamchandani, Rushit Shah, and Infibeam Projects Management.
The company aims to double operational capacity to 30 lakh sq ft by FY28 by replicating the Ambli–Bopal playbook in additional Tier-2 micro-markets.