Q1 FY27 Results: Revenue Rs 53.8 Cr, EBITDA up 14.7% YoY at 56.3% margin
DEVX · price
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Dev Accelerator (DEVX) reported Q1 FY27 revenue of Rs. 53.8 Cr, down 3.3% YoY from Rs. 55.6 Cr but down 9.3% QoQ. EBITDA rose 14.7% YoY to Rs. 30.3 Cr with margins expanding to 56.3% from 47.4%. PAT grew 15x to Rs. 1.5 Cr. Managed office space grew 31.4% YoY to 1.13 Mn sq ft with 91.9% occupancy and 15,899 occupied seats across 27 centers in 12 cities. The company raised Rs. 100 Cr via non-convertible debt. Promoter holding is set to rise from 36.81% to about 37.29% on conversion of preferential warrants. Pipeline of 2.31 Mn sq ft plus 0.19 Mn sq ft under fit-out, targeting 3.63 Mn sq ft by FY29.
Mixed signals: revenue declined YoY but margins and profitability improved sharply. Debt raise and expansion pipeline support growth, but QoQ dip may weigh on sentiment.