BENGALURU: Dev Accelerator Ltd, a managed workspace provider, has entered India's largest commercial office market, Bengaluru, by leasing 111,000 square feet in two premium properties of real estate developer Prestige Group, a top executive said.
The expansion will add over 1,200 seats to the company’s portfolio and is expected to generate about ₹2.2 crore in monthly revenue.
The Ahmedabad-based company, known as DevX, has taken up 54,000 sq. ft in Prestige's 90-acre corporate campus called Lakeshore Drive in Bellandur, located along the city's much sought-after Outer Ring Road office micro-market. The premium office property houses companies such as Uber Technologies, Blackstone and DXC Technology.
DevX, which listed publicly in September 2025, has also taken up 57,000 sq. ft in Prestige Featherlite Tech Hub, an office campus that has been built on a walk-to-work model in east Bengaluru’s Whitefield–Panathur corridor.
“Our collaboration with Prestige Group allows us to bring institutional-grade workspaces to a market that continues to attract GCCs (global capability centres) and enterprise occupiers at scale," Umesh Uttamchandani, managing director of DevX, said in an interview with Mint. “We are also witnessing strong demand from AI-native GCCs, particularly those operating in the manufacturing and retail sectors. These additions strengthen our ability to offer high-quality, flexible environments that are both growth-ready and operationally efficient.”
Additional space
DevX, which started in 2018, operates 28 centres across 12 Indian cities with over 17,000 seats and 1.2 million sq. ft under management. It has signed up another 1.3 million sq. ft, including the office space in Bengaluru, which will go live in the coming months. This will add 14,000 seats to its portfolio.
Bengaluru is the 13th city that DevX will operate in and the plan is to reach 15 cities and then expand in those, Uttamchandani said.
“DevX’s enterprise-led approach and operational expertise align well with the positioning of Prestige Lakeshore Drive and Prestige Featherlite Tech Hub," said Juggy Marwaha, CEO and executive director of Prestige Group-Office. “This collaboration will further strengthen the value proposition of these developments for companies seeking agile, future-ready work environments in one of Bengaluru’s most strategic offices.”
DevX's expansion to Bengaluru comes as flexible workspace operators enter new cities, open centres and see good leasing demand. India's flexible office stock crossed the 100 million sq ft milestone between 2020 and 2025 to reach 110-114 million sq ft, according to a March report by real estate consultancy CBRE and industry body Ficci. Flex inventory has expanded at a 23-25% compounded annual growth rate over the past five years.