Investor Presentation

November 04, 2026 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: Trading Symbol: DEVX (Equity: 544513, Debt: 978033) Dear Sir/ Madam, Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Earnings Presentation Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended from time to time), please find enclosed Q2 and H1 FY27 Earnings Presentation on the unaudited financial results (standalone and consolidated) of the Company. The above information will also be available on the website of the Company viz. https://www.devx.work/investor-relations We request you to kindly take the same on record. Thanking you Yours faithfully, For Dev Accelerator Limited Anjan Trivedi Company Secretary & Compliance Officer Encl: As above (BSE: 544513 | NSE: DEVX) Q2 and H1 FY27 Earnings Presentation November 2026 DevX: DRIVE DevX: Business Overview Our Platform Connects Landlords, Clients and Vendor Partners – Creating a Powerful Network Effect for All Who We Partner With 12 8 1.16 Mn Sq. ft. Udaipur Noida Non-institutional Landlords Vendor Partners 2 7 28 Gandhinagar Jaipur One stop solution with Access to assuredfootfalls Centers guaranteed results and projects Ahmedabad Clients 10 17,412 Rajkot Seats Who We Serve 3 11 91.2% Vadodara Indore Occupancy Enterprise Clients Client Employees Flexible, efficient offices in Access to world class 39 Months Surat Hyderabad just75-90 days amenities Avg. Client Tenure 6 5 33 Months Mumbai Pune Remaining Avg. Lock-in Tenure By Sq. ft. Tier 1 Tier 2 Managed Office Space Design & Build Rs. 134 Cr Rs. 71 Cr Rs. 7 Cr 12.5% Rs 185 Cr Development H1 FY27 H1 FY27 H1 FY27 H1 FY27 H1 FY27 Management Revenue EBITDA PAT ROCE Net Debt Consolidated Financial Metrics (IND AS) Rs Cr Revenue EBITDA and Margin % 51.0% 56.3% 50.8% 49.2% 53.0% +54.8% +24.7% +54.3% +34.5% 134.0 71.1 107.5 52.8 80.2 40.8 51.8 53.8 26.4 30.3 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 EBIT and Margin % PBT and Margin % 26.2% 27.4% 27.4% 24.7% 27.4% 3.1% 2.8% 7.7% 2.4% 5.7% +58.3% +38.8% +272.4% +197.8% 38.2 7.9 27.5 22.6 14.3 15.6 2.7 1.7 1.6 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Margin % Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Note: EBITDA excludes Other Income; PBT after Exceptional Items and Share of Profit / (Loss) of Associates 3 Consolidated Financial Metrics (IGAAP) Rs Cr Revenue EBITDA and Margin % 17.5% 23.2% 23.8% 17.9% 23.5% +54.8% +24.7% +109.9% +64.3% 134.0 31.5 107.5 80.2 19.1 19.2 51.8 53.8 12.5 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 EBIT and Margin % PBT and Margin % 17.6% 22.7% 22.1% 17.0% 22.3% 7.1% 12.5% 13.3% 7.5% 13.0% +90.2% +63.6% +182.5% +117.6% 31.1 18.1 18.2 19.0 11.0 12.9 7.1 Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Margin % Q2 FY26 Q1 FY27 Q2 FY27 H1 FY26 H1 FY27 Note: EBITDA excludes Other Income; PBT after Exceptional Items and Share of Profit / (Loss) of Associates EBITDA, EBIT and PBT are adjusted for Lease Rental Outflows, comprising Payment of Principal Portion of Lease Liability and Interest Paid on Lease Liability Chairman’s Message “DevX’s highest ever quarterly revenue marks another step towards building an integrated platform for India’s next phase of enterprise growth. Revenue increased by 54.8% to Rs. 80.2 crore in Q2 FY27, while profit after tax more than tripled to Rs. 5.5 crore. For H1 FY27, revenue reached Rs. 134.0 crore and PAT increased to 3.7 times the corresponding period last year. Increasing occupancy at centres opened over the past year and greater adoption of our integrated services reflect our ability to translate expansion into earnings growth. Our operating portfolio now comprises 28 centers across 12 cities, covering 1.16 million sq. ft. and serving 376 clients. Occupancy improved to 91.2% from 88.3% a year ago, with 15,872 occupied seats. Our revenue to rent ratio increased to 2.90 times from 2.56 times, reflecting improved revenue generation across the portfolio. Our presence across Tier 1 and Tier 2 markets enables us to serve enterprises seeking customised workspaces across multiple locations through a single operating partner. Mr. Parth Shah Our vision is to build an integrated platform that supports global businesses establishing and expanding their operations Chairman and Wholetime Director in India. By combining managed offices with design and build capabilities through Neddle & Thread and technology services through SaaSJoy, we are developing a broader offering encompassing infrastructure, technology enablement Rs. 80.2 Cr and staffing. This approach is intended to deepen client relationships, increase revenue opportunities within each engagement and build recurring service income alongside our workspace business. Q2 FY27 Revenue We see a significant opportunity in supporting small and mid-sized global companies setting up Global Capability Centers in India. Our capabilities in payroll, talent sourcing and IT infrastructure are being developed around their Rs. 40.8 Cr requirements. Alongside this, our development management model enables us to work with landowners to create institutional quality office assets without investing in land acquisition or construction. Together, these initiatives support Q2 FY27 EBITDA our ambition to expand with greater capital efficiency and improve returns as the platform scales. The Rs. 100 crore raised through non-convertible debentures has supported refinancing and provided resources for Rs. 6.3 Cr expansion. We have also commenced operations as lessee of the JUPL/AEPL property under the OpCo-PropCo model, while initiating the tokenisation process. These steps form part of our effort to broaden funding options and create a Q2 FY27 PBT scalable structure for future growth. Looking ahead, our pipeline of 17 new centers covering approximately 2.81 million sq. ft. provides a clear direction for expansion. Over the coming quarters, our priorities are to commission centers in phases, strengthen leasing and 2.90x improve utilisation while growing our GCC services offering. With an expanding footprint and broader client capabilities, Q2 FY27 Revenue / Rent we remain focused on converting this opportunity into sustained growth and long-term shareholder value.” Operating KPIs: Q2FY27 and H1FY27 Operating KPIs Units Q2 FY27 Q2 FY26 Q1FY27 H1 FY27 Total Super Built up Area (SBA) Mn Sq. ft. 1.16 0.89 1.13 1.16 Mature Centers1 SBA Mn Sq. ft. 0.94 0.55 0.79 0.94 Cities No. 12 12 12 12 Managed Office Centers No. 28 28 27 28 Operational Seats No. 17,412 13,604 17,294 17,412 Occupied Seats No. 15,872 12,019 15,899 15,872 Occupancy % 91.2 88.3 91.9 91.2 Mature Center Occupancy % 81.0 61.8 69.8 81.0 Revenue to Rent Ratio2 x 2.90 2.40 2.36 2.66 Brokerage % Revenue from Operations % 1.13 1.6 1.8 1.35 Enterprise Client % Revenue from Operations % 75 65 70 75 1 Mature Centers are office centers operating at 100% occupancy 2 Previously reported as ‘Rent to Revenue’; underlying metric remains unchanged 6 Historical Key Operating KPIs Operating KPIs Units FY26 FY25 FY24 Total Super Built up Area (SBA) Mn Sq. ft. 0.83 0.86 0.81 Mature Centers1 SBA Mn Sq. ft. 0.58 0.55 0.52 Cities No. 12 11 11 Managed Office Centers No. 28 28 25 Operational Seats No. 13,304 13,759 12,543 Occupied Seats No. 12,019 12,054 10,422 Occupancy % 90.3 87.6 83.1 Mature Center Occupancy % 70.4 93.1 95.9 Revenue to Rent Ratio2 x 2.28 2.16 1.65 Brokerage % Revenue from Operations % 1.4 1.5 1.7 Enterprise Client % Revenue from Operations % 65 60 55 1 Mature Centers are office centers operating at 100% occupancy 2 Previously reported as ‘Rent to Revenue’; underlying metric remains unchanged 7 Consolidated Capital Structure (Rs Cr) FY25 FY [Showing first 8,000 characters — download PDF for full document]