Dev Accelerator adds 1.11 lakh sq ft of Bengaluru workspace with Prestige
The partnership adds 1,200 seats on Outer Ring Road and is expected to generate ₹2.2 crore in monthly revenue. The first asset launches in August 2026.
— 1 earlier story on Dev Accelerator Ltd. →What's new
- Dev Accelerator is partnering with Prestige Group for 1.11 lakh sq ft of Grade A+ workspace on Bengaluru's Outer Ring Road.
- The expansion adds over 1,200 seats and will cost about ₹10 crore for fit-outs and infrastructure.
- First asset, at Prestige Lakeshore Drive, launches 1 August 2026; second is a walk-to-work development.
Why this matters
For a company that generated ₹226 crore in FY26 revenue, an additional ₹26.4 crore in annualised top line is meaningful growth, representing about 11.7% of last year's sales. The ₹10 crore investment is a small outlay (3% of market cap) for that return profile. Partnering with Prestige also gives Dev Accelerator access to prime corridors without taking on development risk.
What we're watching
- The actual revenue ramp from Prestige Lakeshore Drive after its August 2026 launch.
- Whether the walk-to-work model at Tech Hub attracts the GCC and AI-native tenants it targets.
- How the ₹10 crore capex is funded — from cash flow or incremental debt.
The full read
Dev Accelerator is expanding its Bengaluru footprint through a partnership with the Prestige Group. The deal adds 1.11 lakh sq ft of Grade A+ managed workspace across two assets on Outer Ring Road, bringing over 1,200 seats into the portfolio. The financials make the move material: projected monthly revenue of ₹2.2 crore annualises to ₹26.4 crore, or about 11.7% of the company's ₹226 crore FY26 revenue. The cost is modest, at roughly ₹10 crore for fit-outs on the first asset, or 3% of the company's ₹337 crore market cap. The first location, at Prestige Lakeshore Drive, launches 1 August 2026. The second, Prestige Featherlite Tech Hub, is designed around a walk-to-work model targeting global capability centres and AI-native enterprises. For a managed-office operator, locking in prime Outer Ring Road space without development risk is the right kind of growth.
Questions answered
- What is the scale of the Bengaluru expansion?
- The deal adds 1.11 lakh sq ft of Grade A+ managed workspace across two Prestige Group developments on Outer Ring Road, providing over 1,200 seats.
- What is the expected financial impact?
- The expansion is projected to generate ₹2.2 crore in monthly revenue, or about ₹26.4 crore on an annualised basis. This would add roughly 11.7% to Dev Accelerator's FY26 revenue of ₹226 crore.
- What is the investment required?
- Dev Accelerator will invest about ₹10 crore in fit-outs and infrastructure for the first asset at Prestige Lakeshore Drive. This outlay is approximately 3% of the company's ₹337 crore market cap.
- Who is the development partner, and what are the target tenants?
- The partner is the Prestige Group. The managing director said the move is aligned with long-term demand from global capability centres and AI-native enterprises in manufacturing and retail.
Story so far
All notes on DEVX →- 8 Jun 2026 · 4:06 PM IST Dev Accelerator adds 1.11 lakh sq ft of Bengaluru workspace with Prestige
- 13d ago Dev Accelerator transcript adds no new material to prior disclosures