Dev Accelerator Ltd Share Price

Dev Accelerator Limited originally started as a limited liability partnership under the name and style of ‘Dev Accelerator LLP’ on September 14, 2017 under the Limited Liability Partnership Act, 2008, pursuant to a certificate of incorporation issued by the RoC with Rushit Shardulkumar Shah, Umesh Satishkumar Uttamchandani, Parth Naimeshbhai Shah and Dev Information Technology Limited as its partners. Subsequently, Parashwanath Land Organisers LLP joined Dev Accelerator LLP on July 1, 2019. Pursuant to a No Objection Certificate and an Affidavit cum Declaration, from the erstwhile partners of Dev Accelerator LLP dated August 13, 2020, the limited liability partnership was converted into a private limited company and a certificate of incorporation dated September 05, 2020 was issued by the Registrar of Companies, Central Registration Centre under the name and style of ‘Dev Accelerator Private Limited’. The company was further converted into a public limited company pursuant to a special resolution passed by its Shareholders at the extra-ordinary general meeting held on July 12, 2024 and a fresh certificate of incorporation consequent upon conversion to public limited company dated September 3, 2024 was issued by the RoC. The name of the company was changed to its present name, ‘Dev Accelerator Limited’.

The company’s comprehensive office space solutions include sourcing office spaces, customizing designs, developing spaces and providing technology solutions to providing complete asset management. This means it not only create and manage office environments but also ensure that they operate efficiently, allowing its clients to focus on their core business activities. For this purpose, it ensures property upkeep, including regular cleaning, HVAC (heating, ventilation, and air conditioning) maintenance, plumbing, electrical systems, housekeeping, administrative assistance, etc. This ensures that the office environment is always ready for use, without clients needing to manage these day-to-day operational tasks.

Its clientele comprises of large corporates, MNCs and SMEs, to whom it offers a variety of flexible office space solutions such as managed office spaces and coworking spaces as well as design and execution services through its Subsidiary, Neddle and Thread Designs LLP. Its primary focus is on serving large corporates by offering managed office solutions. Such offerings have average lease tenures ranging from 5 to 9 years, with lock-in periods of 3.5 to 5 years. These longer lease commitments provide a stable and predictable revenue stream, help build stronger relationships with occupiers potentially leading to contract renewals or expansions in the future, and achieve operational efficiency in the managed space segment.

Business area of the company

Dev Accelerator along with its subsidiaries and its associate companies is primarily engaged in the business of providing workspace on rent, integrated facility management income (facility management services) and enterprise workspace designing and building services (construction and fit-out projects).

Services of the company

• Managed office spaces: This workspace solution is tailored for large businesses seeking customized office set-ups.
• Coworking spaces: This workspace solution allows individuals to any available desk at its ready-to-use workspaces, promoting a collaborative work environment.
• Design and execution services: As part of its workspace solution offerings, it provides comprehensive design and build solutions, for developing its Centers as well as developing external commercial offices of its clients, through its Subsidiary, Neddle and Thread Designs LLP.
• Payroll management services: It offers end-to-end solutions, from employee onboarding to exit, using its employee management software to streamline payroll processing, compliance, and statutory requirements.
• Facility management services: Its facility management services include dedicated IT infrastructure, housekeeping, valet parking, security services, and stationery management.
• IT/ITes services: As part of this offering, the company, amongst others, offers software development solutions, cloud services, data analytics services, digital marketing, through its Subsidiary, Saasjoy Solutions.

Awards, accreditations and recognitions

• 2019: Received certificate of recognition as a start-up by Department of Industrial Policy and Promotion (DIPP).
• 2019: Received “Co-working space of the year” award at 11th Realty+ Conclave and Excellence Awards 2019 Gujarat by Estate Consultants Chembur Private Limited.
• 2023: Received “Co-working space of the year” award by eChai Startup Awards.
• 2024: Received ISO 9001:2015 registration for providing co-working spaces and ongoing support to customers.
• 2024: Received ISO 27001:2022 registration information security management system encompassing all processes for providing co-working spaces and continuous support.
• 2025: Received “Co-working Startup of the year” award by The Economic Times
• 2025: Received recognition for being an online platform providing managed co-working spaces by Indicorns, a Titan Capital Initiative.

Major events and milestones

• 2017: Started the business as a limited liability partnership on September 14, 2017 under the name and style of Dev Accelerator LLP.
• 2018: Launched its first Center in Ahmedabad, admeasuring 49,035 sq. ft. with 1,250 seating capacity.
• 2018: Launched its first Center in Vadodara, admeasuring 30,320 sq. ft. with a capacity of 550 seats.
• 2019: Launched its first Center in Mumbai admeasuring 21,000 sq. ft. with a capacity of 400 seats.
• 2019: Added a new Center in Ahmedabad, admeasuring 25,509 sq. ft. with 550 seating capacity.
• 2020: Converted the limited liability partnership into a private limited company on September 5, 2020 under the name and style of ‘Dev Accelerator Private Limited’.
• 2020:  Launched its first Center in Hyderabad, admeasuring 35,564 sq. ft. with a capacity of 700 seats.
• 2021: Added two new Centers in Ahmedabad admeasuring 36,002 sq. ft. with a capacity of 380 seats.
• 2022: Launched its first Center in Rajkot, admeasuring 22,173 sq. ft. with a capacity of 280 seats.
• 2022: Launched its first Center in Pune, admeasuring 18,682 sq. ft. with a capacity of 400 seats.
• 2022: Launched its first Center in Noida, admeasuring 55,866 sq. ft. with a capacity of 800 seats.
• 2022: Launched its first Center in Noida, admeasuring 30,900 sq. ft. with a capacity of 350 seats.
• 2022: Added a new Center in Mumbai, admeasuring 23,470 sq. ft. with a capacity of 500 seats.
• 2022: Added two new Centers in Ahmedabad admeasuring 179,010 sq. ft. with a capacity of 1960 seats.
• 2022: Added a new Center in Pune, admeasuring 18,987 sq. ft. with a capacity of 350 seats.
• 2023: Launched its first Center in Indore, admeasuring 19,204 sq. ft. with a capacity of 255 seats.
• 2024: Launched its first Center in Udaipur, admeasuring 13,333 sq. ft. with a capacity of 110 seats.
• 2024: Added two new Centers in Ahmedabad admeasuring 23,886 sq. ft. with a capacity of 480 seats.
• 2024: Its private limited company was converted into a public limited company and received fresh Certificate of Incorporation on September 3, 2024.
• 2025: Added a new Center in Pune, admeasuring 28,400 sq. ft. with a capacity of 369 seats.
• 2026: Added two new Centers in Hyderabad admeasuring 25,487 sq. ft. with a capacity of 385 seats.