DevX

DevX operates as a managed workspace provider specializing in integrated solutions across coworking, managed offices and startup acceleration. The company serves enterprises, SMEs and startups across 23+ Indian cities, with a strategic focus on Tier II markets. Its unique value proposition centers on "end-to-end workspace enablement"—combining premium infrastructure with proprietary tech (Collab Station app) and accelerator programs to foster collaborative ecosystems.

Key milestones

• Revenue inflection: 55% YoY growth to ₹108 crore in FY24, turning profitable (₹43.7 lakh net profit).

• Geographic scale: 25+ centers managing 1 million sq. ft. (2025), doubling capacity since 2023.

• Accelerator impact: DevX Venture Fund backing 50+ startups via equity partnerships.

Core Products & Services

• Managed Offices: Custom-built spaces for enterprises/GCCs (e.g., Hitachi, Persistent).

• Coworking: Dedicated desks, hot desks and team cabins under "DevX Collab".

• Tech Platform: "Collab Station" app for bookings, visitor management and F&B orders.

• Meeting/Event Spaces: Training rooms, conference halls and webinar facilities.

• Startup Accelerator: Equity-based programs (5–10% stakes) with mentorship and funding.

Business Model & Revenue Streams

• Rental Income (85%): ₹91.8 crore from leases (managed offices: 60%, coworking: 25%).

• Value-Added Services (10%): Event hosting, IT support, printing (₹10.8 crore).

• Accelerator Fees (5%): Program fees + equity upside (₹5.4 crore).

Geographic Mix

• Tier I (45%): Delhi-NCR, Mumbai, Bengaluru.

• Tier II (55%): Ahmedabad, Jaipur, Indore, Vadodara.

Customer Segmentation

• Enterprises (70%): GCCs, MNCs (e.g., Zomato, Hitachi).

• SMEs/Startups (25%): Via coworking and accelerator.

• Freelancers (5%): Hot desks.

Top Clients & Partnerships

1. Enterprise Clients

• Zomato: Multi-city managed offices.

• Hitachi/Persistent: GCC-focused hubs in Pune/Hyderabad.

• Tim Hortons/DCB Bank: Retail-linked coworking.

2. Tech Partners

• AWS/DigitalOcean: Cloud infrastructure for accelerator startups.

• Freshworks: CRM integration for Collab Station.

Future Outlook & Strategic Priorities

• IPO Deployment: ₹125 crore for 12 new centers (Mumbai, GIFT City, etc.) by 2026.

• Tier II/III Expansion: Target 1.6 million sq. ft. portfolio (60% growth).

• Tech Scalability: License Collab Station to third-party operators.

• Global Entry: Dubai/Singapore centers (2025–26).

• Real Estate Volatility: 15–20% lease inflation in prime hubs.