Dev Accelerator Ltd has expanded into Bengaluru by leasing 111,000 square feet across two premium office properties developed by Prestige Group. The move marks the managed workspace provider's entry into India's largest commercial office market and is expected to create over 1,200 seats. The expansion will boost the company's monthly revenue by ₹2.2 crore, according to Umesh Uttamchandani, managing director of DevX, as reported by livemint.com.
The company secured office space in two of Prestige Group's high-end projects, Lakeshore Drive and Prestige Featherlite Tech Hub. This strategic leasing deal follows Dev Accelerator's growth plans to increase its footprint in key Indian cities. Uttamchandani highlighted that the new Bengaluru locations will cater to rising demand for managed workspaces among startups and SMEs, leveraging the city's status as a major tech and commercial hub.
This expansion into Bengaluru is significant given the city's position as India's largest office market, with a strong demand for flexible workspace solutions. Managed workspace providers like Dev Accelerator are capitalizing on this trend, competing with established players such as WeWork and Awfis. The ₹2.2 crore monthly revenue boost underscores the commercial viability of such leases in premium developments by leading real estate firms like Prestige Group.
Dev Accelerator's Bengaluru launch is set to add more than 1,200 new seats across the leased spaces. The company aims to operationalize these offices in the coming months, aligning with the growing demand for flexible office solutions in the region. This expansion is a key milestone in Dev Accelerator's broader growth strategy within India's managed workspace sector.