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DevX Q2: Profit Zooms To ₹5.5 Cr, Revenue Surges 55% YoY

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DevX Q2: Profit Zooms To ₹5.5 Cr, Revenue Surges 55% YoY

Office space provider DevX’s consolidated net profit zoomed 213.5% to ₹5.5 Cr in the second quarter (Q2) of fiscal year 2026-27 (FY27) as against ₹1.7 Cr in the year-ago quarter. Sequentially, the bottom line also surged 265.4% from ₹1.5 Cr in Q1 FY27.

Meanwhile, operating revenue also jumped 54.8% to ₹80.2 Cr in the quarter under review compared to ₹51.8 Cr in Q2 FY26. On a quarter-on-quarter (QoQ) basis, the top line rose nearly 50% from ₹53.8 Cr in Q1 FY27.

Including other income of ₹2.2 Cr, the listed company’s total income stood at ₹82.4 Cr in Q2 FY27. Nevertheless, expenses continued to bite and surged nearly 43% to ₹75.6 Cr in the quarter ended September 2026 compared to ₹52.8 Cr in Q2 FY26.

DevX also reported a loss of ₹55.4 Lakh from an associate in the quarter, while its tax expenses stood at ₹82.7 Lakh. 

Alongside its Q2 FY27 financial results, the company’s board also approved a proposal to raise ₹300 Cr via issuance of non-convertible debentures (NCDs) to certain investors on a private placement basis.

“The board… approved the proposal for raising funds through Issuance of Non-Convertible Debentures, in dematerialised form, in one or more series or tranches on a private placement basis for an aggregate amount up to ₹300 cr to eligible investors…,” said the company.

3 Lakh shares at ₹45 apiece to cofounders and promoters Parth Shah, Rushit Shah, and Umesh Uttamchandani for a sum of nearly ₹15 Cr.



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