DevX Listed

DevX differentiates from pure coworking players by running a fully managed office model for corporates.

Brand positioning line used on DevX's own site.

Stated footprint claim on the company's own website.

Startup workspace tenants, part of DevX's original accelerator-plus-coworking positioning.

Corporates and enterprises are served via the managed/serviced office model.

GCC expansion in India is cited as a key demand driver for DevX's large-format managed-workspace deals.

Beyond leasing space, DevX runs an accelerator relationship with startup tenants, including a venture fund.

For enterprise customers taking 100+ seats, DevX offers an open-book cost arrangement.

In-house design team creates custom-branded office layouts for clients.

DevX executes the build-out of office space.

DevX manages day-to-day operations and maintenance of the spaces it operates.

DevX partners with landlords via lease or revenue-share agreements to operate centres.

For large projects like the 27-storey Ahmedabad tower, DevX structures deals as Development Management agreements rather than straight leases.

Majority of revenue comes from managed office space occupied by anchor clients.

DevX either leases space outright or enters revenue-share agreements with property owners.

Coworking spaces sold alongside managed offices; company reported 230+ clients and 25 centres across 11 cities in India, managing 12,691 seats spanning 806,635 sq ft, as of Aug 31, 2024 (per ipowatch.in's IPO-listing coverage).