India, Sept. 3 -- IPO-bound coworking space provider Dev Accelerator (DevX) reported its net profit rising 286% to INR 1.7 Cr in the year ended March 2025 (FY25) from INR 44 Lakh in FY24.

The company's operating revenue rose 47% to INR 158.8 Cr during the year under review from INR 108 Cr in FY24.

The company largely earns from coworking and managed office spaces, payroll and facility management services, which together contributed the bulk of its topline. Including other income of INR 19 Cr, DevX's total income stood at INR 177.8 Cr in FY25, up 60.6% from INR 110.7 Cr in FY24.

Meanwhile, the rise in expenses nearly matched the growth in revenue. Total expenses grew 46.5% to INR 175.1 Cr in FY25 from INR 119.5 Cr in the previous fiscal...