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

In the second quarter of fiscal year 2026-27, office space provider DevX reported a significant increase in both its net profit and revenue. The company's consolidated net profit surged 213.5% to ₹5.5 Cr, marking a substantial rise from ₹1.7 Cr in the same quarter of the previous year. Moreover, sequential profit growth stood at an impressive 265.4%, reaching ₹1.5 Cr in Q1 FY27 from ₹1.5 Cr in Q2 FY26.

Operating revenue also experienced a notable surge, jumping 54.8% to ₹80.2 Cr in Q2 FY27 compared to ₹51.8 Cr in Q2 FY26. On a quarter-on-quarter basis, the top line grew nearly 50%, reaching ₹53.8 Cr in Q1 FY27 from ₹53.8 Cr in Q2 FY26. Including other income of ₹2.2 Cr, DevX's total income amounted to ₹82.4 Cr for the quarter.

However, expenses continued to rise, increasing nearly 43% to ₹75.6 Cr in Q2 FY27, compared to ₹52.8 Cr in Q2 FY26. Additionally, the company reported a loss of ₹55.4 Lakh from an associate and incurred tax expenses of ₹82.7 Lakh.

DevX's board also approved a proposal to raise ₹300 Cr through the issuance of non-convertible debentures (NCDs) to eligible investors on a private placement basis. This funding move, along with the allotment of 33.3 Lakh shares to cofounders and promoters, aimed to bolster the company's financial position.