Dev Accelerator Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2026

1 The above Audited Standalone Financial Results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors of the Company in their respective meeting held on May 19, 2026. The audit as required under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 has been completed by the statutory auditors of the company.
2 The Audited Standalone Financial Results have been prepared in accordance with the recognition and measurment principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34") prescribed under Section 133 of the Companies Act, 2013 read with relevent rules issued thereunder and other accounting principles generally accepted in India and in terms of compliance with Regulation 33 of Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015 .
3 The company operates in a single segment and in line with Ind AS - 108 - “Operating Segments”, the operation of the group fall under “Renting and provision of Co-working spaces” business which is considered to be the only reportable business segment.
4 The figures in respect of results for the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between the audited figures in respect of the full financial year and published year to date figures of the third quarter of the respective financial year which were subject to limited review by Auditors.
5 The Government of India has notified the implementation of the four new Labour Codes, consolidating and rationalising 29 existing labour laws, with effect from November 21, 2025.
Pursuant to the said implementation, the Company has restructured and realigned its wage structure, including modification and redistribution of various wage components, to align with the provisions of the new Labour Codes.
The Company continues to monitor the finalization of Central and State Rules and further clarifications from the Government on various aspects of the Labour Codes. Appropriate accounting impact, if any, arising from such developments shall be recognised as and when required.
6 During the year ended March 31, 2026, the Company ceased operations at one of its centres and recognised the impact arising from modification/termination of lease arrangements relating to the said property. The Company also recognised related incidental expenses in the standalone statement of profit and loss. The net impact has been disclosed separately as an exceptional item in the financial results.
7 The Company has completed the Initial Public Offer ('IPO') of 2,35,00,000 equity shares of face value of Rs.2 each at an issue price of Rs.61 per equity share (including share premium of Rs. 59 per equity share), The equity shares of the Company were listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on September 17, 2025. The utilisation of IPO proceeds from fresh issue of Rs. 12,738.00 lakhs (net off Issue expenses of Rs. 1597.00 lakhs in relation to fresh issue of shares) is summarised below:
(Rs. in lakhs)
Particulars Amount to be utilised as per prospectus Amount utilised upto March 31, 2026 Amount unutilised as at March 31, 2026
Capex for fitout in proposed centres 7,312.00 3,836.00 3,476.00
Repayment / Prepayment of certain borrowings 3,500.00 3,500.00 -
General Corporate Purposes 1,926.00 1,926.00 -
TOTAL 12,738.00 9,262.00 3,476.00

* The IPO proceeds which were unutilised as on March 31, 2026 are parked in Public Monitoring account, Public issue account and fixed deposit from monitoring account.
8 The Board of Directors of the Company at its meeting held on March 24, 2026, has approved the allotment of 77,77,770 Convertible warrants convertible into 77,77,770 Equity Shares having face value of Rs. 2/- each, at a price of Rs. 45, aggregating to Rs. 3,500 Lakhs by way of a preferential allotment on a private placement basis to Mr. Shah Parth Naimeshbhai, Mr. Uttamchandani Umesh Satishkumar and Mr. Rushit Shardulkumar Shah, Promoters of the Company, and Infibeam Projects Management Private Limited, a Non-Promoter Entity subject to the approval of regulatory/ statutory authorities and the shareholders of the Company at the ensuing ExtraOrdinary General Meeting to be held at a later date.
9 The figures of previous quarters / year are reclassified, regrouped and rearranged wherever necessary so as to make them comparable with current period's figures.