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Dev Accelerator Q2 FY27 results: net profit ₹5.50 crore vs ₹1.75 crore, revenue up 54.7%
Dev Accelerator Limited reported consolidated revenue of ₹80.22 crore and a net profit of ₹5.50 crore for Q2 FY27. Revenue rose 54.7% from a year earlier, while the EBITDA margin increased 0.6 percentage points to 51.6%.
Key points
- Consolidated revenue was ₹80.22 crore in Q2 FY27, up ₹28.38 crore or 54.7% from Q2 FY26.
- EBITDA was ₹41.36 crore, up ₹14.93 crore or 56.5%, with the margin at 51.6% compared with 51.0%.
- Net profit was ₹5.50 crore, up ₹3.75 crore or 214.3%, and basic EPS was ₹0.60 compared with ₹0.26.
- Against Q1 FY27, revenue rose ₹26.45 crore or 49.2%, while net profit increased ₹4 crore or 266.7%.
- H1 FY27 revenue was ₹134.0 crore and net profit was ₹7.0 crore, compared with ₹107.47 crore and ₹1.89 crore in H1 FY26.
How did Dev Accelerator perform in Q2 FY27?
Dev Accelerator reported consolidated revenue of ₹80.22 crore for Q2 FY27, up ₹28.38 crore or 54.7% from ₹51.84 crore in Q2 FY26. EBITDA rose ₹14.93 crore or 56.5% to ₹41.36 crore, while the margin increased 0.6 percentage points to 51.6%. Profit before tax was ₹6.88 crore and net profit was ₹5.50 crore.
Against Q1 FY27, revenue increased ₹26.45 crore or 49.2% from ₹53.77 crore and EBITDA rose ₹11.08 crore or 36.6% from ₹30.28 crore. The EBITDA margin fell 4.7 percentage points to 51.6% from 56.3%, while net profit rose ₹4 crore or 266.7% from ₹1.50 crore. Basic EPS increased to ₹0.60 from ₹0.16.
On a standalone basis, Q2 FY27 revenue was ₹62.99 crore and profit before tax was ₹1.35 crore, with standalone PAT of ₹5.36 crore. The filing approved both standalone and consolidated unaudited results for the quarter and half year ended 30 September 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 80.22 | 53.77 | 51.84 | +54.7% | +49.2% |
| Other income | 2.20 | 2.96 | 2.65 | −17.0% | −25.7% |
| Total expenses | 75.55 | 55.17 | 52.85 | +43.0% | +36.9% |
| EBITDA | 41.36 | 30.28 | 26.43 | +56.5% | +36.6% |
| EBITDA margin | 51.6% | 56.3% | 51.0% | +0.6 pp | −4.7 pp |
| Profit before tax | 6.88 | 1.56 | 1.70 | +304.7% | +341.0% |
| Tax | 0.83 | 0.07 | −0.06 | +1085.7% | |
| Net profit | 5.50 | 1.50 | 1.75 | +214.3% | +266.7% |
| EPS (₹) | 0.60 | 0.16 | 0.26 | +130.8% | +275.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Dev Accelerator's costs and profit?
Total expenses rose ₹22.70 crore or 43.0% to ₹75.55 crore from ₹52.85 crore in Q2 FY26, below the 54.7% increase in revenue. Cost of materials increased ₹17.05 crore or 141.1% to ₹29.13 crore, finance costs rose ₹3.66 crore or 29.0% to ₹16.30 crore, and depreciation increased ₹5.59 crore or 37.8% to ₹20.39 crore.
Employee cost fell ₹1.35 crore or 26.2% to ₹3.80 crore and other expenses declined ₹2.25 crore or 27.5% to ₹5.93 crore. Other income fell ₹0.45 crore or 17.0% to ₹2.20 crore, while tax was ₹0.83 crore against a credit of ₹0.06 crore in the year-ago quarter.
The year-ago quarter included an exceptional gain of ₹0.06 crore, while Q2 FY27 had no exceptional item. Profit before tax rose ₹5.18 crore or 304.7% to ₹6.88 crore, and the PAT margin increased 3.5 percentage points to 6.9% from 3.4%. The filing does not state why the cost of materials increased.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 29.13 | 12.08 | +17.05 | +141.1% |
| Employee cost | 3.80 | 5.15 | −1.35 | −26.2% |
| Finance costs | 16.30 | 12.64 | +3.66 | +29.0% |
| Depreciation | 20.39 | 14.80 | +5.59 | +37.8% |
| Other expenses | 5.93 | 8.18 | −2.25 | −27.5% |
| Total expenses | 75.55 | 52.85 | +22.70 | +43.0% |
| Other income | 2.20 | 2.65 | −0.45 | −17.0% |
| Tax | 0.83 | −0.06 | +0.89 | |
| Exceptional items | none | +0.06 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
H1 FY27 consolidated revenue was ₹134.0 crore, up ₹26.53 crore or 24.7% from ₹107.47 crore in H1 FY26. Total income rose ₹27.74 crore or 24.9% to ₹139.16 crore from ₹111.42 crore, while profit before tax increased ₹5.8 crore or 219.7% to ₹8.44 crore.
PAT for the first half was ₹7.0 crore, up ₹5.11 crore or 270.4% from ₹1.89 crore, and EPS rose ₹0.48 or 171.4% to ₹0.76 from ₹0.28. These results cover the six months ended 30 September 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 134 | 107.47 | +24.7% |
| Profit before tax | 8.44 | 2.64 | +219.7% |
| Net profit | 7 | 1.89 | +270.4% |
| EPS (₹) | 0.76 | 0.28 | +171.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹875.58 crore, compared with ₹643.98 crore at 31 March 2026. Total equity increased to ₹216.38 crore from ₹185.66 crore, while borrowings rose to ₹222.17 crore from ₹144.72 crore. Cash declined to ₹14.8 crore from ₹21.08 crore.
Trade receivables increased to ₹53.81 crore from ₹27.29 crore, and trade payables rose to ₹45.16 crore from ₹36.73 crore. The balance sheet reported no inventory at either date.
H1 FY27 operating cash flow was negative ₹22.48 crore, compared with ₹31.85 crore in H1 FY26. Investing cash flow was negative ₹30.51 crore against negative ₹20.89 crore, financing cash flow was ₹46.71 crore against ₹30.67 crore, and capital expenditure was ₹29.25 crore compared with ₹23.37 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 875.58 | 643.98 |
| Total equity | 216.38 | 185.66 |
| Borrowings | 222.17 | 144.72 |
| Cash and equivalents | 14.80 | 21.08 |
| Inventories | 0 | 0 |
| Trade receivables | 53.81 | 27.29 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −22.48 | 31.85 |
| Cash from investing | −30.51 | −20.89 |
| Cash from financing | 46.71 | 30.67 |
| Capital expenditure | 29.25 | 23.37 |
Source: Company's results filing (XBRL).
How has Dev Accelerator done over the last 6 quarters?
Quarterly revenue reached its highest level in the six-quarter series at ₹80.22 crore in Q2 FY27, after ₹53.77 crore in Q1 FY27 and a low of ₹51.84 crore in Q2 FY26. Net profit rose to ₹5.50 crore from ₹1.50 crore in the preceding quarter, but remained below the ₹7.96 crore reported in Q4 FY26.
The EBITDA margin peaked at 56.3% in Q1 FY27 and eased to 51.6% in Q2 FY27. It was lowest at 40.4% in Q3 FY26. Profit has increased year on year in each of the last two quarters.
What else did the company announce?
On 3 November 2026, the board approved a proposal to raise up to ₹300 crore through non-convertible debentures issued in dematerialised form on a private-placement basis. The executive committee was authorised to complete the issue and allotment in one or more series or tranches.
The board also approved the allotment of 33,33,330 equity shares on conversion of warrants held by three promoters. The shares were allotted at a premium of ₹43 per share against receipt of the balance subscription amount of ₹11,24,99,887.50, and promoter holding increased to 37.29% from 35.09%.
The same-day monitoring-agency filing said the IPO had raised ₹143.35 crore, with ₹127.38 crore available for utilisation after issue-related expenses. It reported that ₹114.52 crore had been utilised by the end of Q1 FY27, leaving an unutilised balance of ₹28.83 crore, and stated that deviation from the issue objects was nil.
What did Dev Accelerator's management say?
Management did not provide formal earnings guidance. It targets phased activation of a signed pipeline of 17 centres and approximately 2.8 million square feet, taking the platform to approximately 4.16 million square feet across 49 centres. For H2 FY27, management said priorities include commissioning signed centres, deepening enterprise relationships, growing the GCC services offering and improving cash conversion.
Managing Director Umesh Uttam Chandani said the signed capacity had yet to fully contribute to existing revenue and that the focus was on completing fit-outs, converting leads into clients and converting those clients into occupied seats. Management identified execution, cash-conversion, capital-intensity and market-entry risks. No analyst questions were recorded.
How did Dev Accelerator shares react?
The results were filed after market hours, and the stock was up 0.9% after both five and 15 minutes before falling 0.9% after 30 minutes. On the reaction day, it closed 0.6% above its previous close, against a 1.7% median rise for the other Diversified Commercial Services stocks, leaving it 1.1 percentage points behind the industry.
By the next day’s close, the stock was 2.4% below its pre-results close. The industry median was up 2.2%, so the stock’s cumulative move was 4.5 percentage points below the sector. Earlier reaction-day moves were negative on 12 August 2026, 19 May 2026, 31 January 2026 and 7 October 2025.
| After the filing | Stock | Diversified Commercial Services median |
|---|---|---|
| 5 minutes | +0.9% | |
| 15 minutes | +0.9% | |
| 30 minutes | −0.9% | |
| Reaction day | +0.6% | +1.7% |
| Next day | −2.4% | +2.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 12 August 2026 | −3.5% |
| 19 May 2026 | −0.8% |
| 31 January 2026 | −3.1% |
| 7 October 2025 | −3.7% |
Source: MarketPing price-reaction measurement.
How did other Diversified Commercial Services companies do?
Among 29 Diversified Commercial Services peers compared for the quarter, the median revenue growth was 14.7%, below Dev Accelerator’s 54.7%. The number of peers growing slower than the company was 26, while the number growing faster was 3.
Of the 40 peers for which profit was compared, 24 reported higher profit. The peer comparison was available as of 6 November 2026.
| Dev Accelerator revenue growth (YoY) | +54.7% |
|---|---|
| Median of 29 other Diversified Commercial Services companies | +14.7% |
| Companies with slower revenue growth than Dev Accelerator | 26 of 29 |
| Companies with faster revenue growth than Dev Accelerator | 3 of 29 |
| Companies whose net profit rose | 24 of 40 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Dev Accelerator's revenue in Q2 FY27?
Revenue from operations was ₹80.22 crore, up 54.7% from ₹51.84 crore in Q2 FY26 (consolidated).
Did Dev Accelerator make a profit in Q2 FY27?
Yes. Net profit was ₹5.50 crore, against a net profit of ₹1.75 crore in Q2 FY26.
What was Dev Accelerator's EPS in Q2 FY27?
Basic earnings per share were ₹0.60, against ₹0.26 in Q2 FY26.
How did Dev Accelerator shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.6% from the previous close; the median Diversified Commercial Services stock moved +1.7%.
When did Dev Accelerator announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for For The Meeting Scheduled To Be Held On Tuesday, November 03, 2026. (BSE, 27 October 2026) · PDF
- Financial Results For Quarter And Half Year Ended September 30, 2026 (BSE, 3 November 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Dated November 03, 2026 (BSE, 3 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Issue of Securities (BSE, 3 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Allotment (BSE, 3 November 2026) · PDF
- The earnings call (4 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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