| Revenue growth | Q2 +54.8% YoY; H1 +24.7% YoY |
|---|---|
| Margins | Q2 EBITDA 50.8% vs 51.0%; EBIT 27.4% vs 26.2% |
| Order book | Signed pipeline: 17 centres, 2.81 Mn sq ft |
| Demand visibility | 17 new centres; 95% pre-leased before going operational |
| Management confidence | Chairman: 'highest ever quarterly revenue'; confident tone |
Growth
Q2 revenue +54.8% YoY and PAT +213.5% on a low base. H1 revenue +24.7%, PAT +268.3%. Occupied seats up 32% YoY.
Outlook
17 new centres (2.81 Mn sq ft), 95% pre-leased. Rs 100 Cr fit-out capex over 4 years targets Rs 120 Cr annual revenue.
Risks
Net debt Rs 185 Cr (FY26: Rs 89 Cr); ND/EBITDA 2.93x. Finance costs +28.9% YoY. Gujarat 85% of Q2 revenue.
Last quarter's promises, checked
Delivered
- Guided Rs100 Cr NCD reflected from Q2 → Q2 net debt Rs185 Cr vs Rs81 Cr Q1 (= BEAT)
- Guided 2.31 Mn sq ft signed future → 2.81 Mn sq ft pipeline; scope differs (= BEAT)
Partly delivered
- Guided net debt Rs81 Cr, 1.04x ND/EBITDA → Rs185 Cr, 2.93x (= PARTIAL; basis differs)
- Guided Rs100 Cr capex → Rs120 Cr revenue Ahmedabad: unchanged, not yet operational (= PARTIAL)
Missed
- Guided ~8.6 lakh sq ft Ahmedabad → 800k sq ft mandate (= MISS)
- Guided signed capacity ramp → occupied seats 15,899 → 15,872 (= MISS)
Investor Presentation filed with BSE, NSE: DEVX. Summary written with AI assistance from the document.
Dev Accelerator Ltd: key numbers
- Share price
- ₹40.57
- Market cap
- ₹397.4 Cr
- Revenue (annual)
- ₹225.9 Cr
- Net profit (annual)
- ₹8.80 Cr
- P/E (TTM)
- 28.6×Sector 35.2×
- Promoter holding
- 35.09%+0.00% QoQ
- FII holding
- 1.46%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Dev Accelerator Ltd
All →Dev Accelerator Capacity Expansion: ₹3 Cr Investment
Dev Accelerator plans an 84,000 sq. ft. capacity addition at a Rs.3.00 Crore investment, to be completed within November 2026. The filing discloses a future expansion, not a completed or contracted order.
- Value
- ₹3.00 Cr
- Execution
- Within November 2026
- facility capacity addition
- 84000.0 sq. ft.
Dev Accelerator Capacity Expansion: ₹6 Cr Investment
Dev Accelerator signed lease deeds for 97,075 sq ft of added capacity in Kochi and Ahmedabad. Investment is up to Rs. 6.00 Crore.
- Value
- ₹6.00 Cr
- Execution
- Within February/March 2027 (Kochi); within November 2026 (Ahmedabad)
- super built-up area
- 97075.0 sq. ft.
Dev Accelerator Earnings Call Transcript: Key Takeaways
Q2 FY27 consolidated revenue ₹80.2 Cr (+54.8% YoY), PAT ₹5.5 Cr, record quarter. Margins and occupancy (91%) strong; net debt rose to ₹185 Cr from ₹89 Cr, and management was defensive on leverage. No Q&A held.
Dev Accelerator Results Update
Dev Accelerator released its Q2 and H1 FY27 press release on unaudited results. It highlights record quarterly revenue and profit growth alongside 91.2% occupancy.
Dev Accelerator Convertible Warrants
Dev Accelerator allotted 33,33,330 equity shares to three promoters at Rs.45 each on conversion of warrants. The balance subscription of Rs.11.25 Crore was received.
- Value
- ₹11.25 Cr
Dev Accelerator Preferential Issue
Dev Accelerator's monitoring agency report on its preferential issue shows nil deviation from objects for the quarter. It is periodic compliance paperwork with no new transaction.