DevX Secures ₹110 Crore Managed Workspace Deal with Manubhai and Shah LLP in Ahmedabad
Ahmedabad, April 13, 2026: Accelerator Limited (DevX) has announced the signing of a ₹110 crore agreement with Manubhai and Shah LLP, marking one of the largest enterprise-led flexible workspace transactions ever recorded in a Tier-II city. The nine-year contract covers approximately 100,000 square feet and establishes significant long-term revenue visibility for DevX. This strategic move signals a broader institutional shift as large enterprises increasingly move away from traditional leases in favor of managed office solutions, the company said in a press release.
Under the terms of the agreement, Manubhai and Shah LLP will relocate its Ahmedabad headquarters to DevX’s premium managed campus at Capital One. The facility boasts a total capacity of 2,000 seats, with more than 1,000 seats already committed in the first phase of the transition. The move highlights the rising prominence of Ahmedabad as a strategic growth center for major firms looking to expand their footprint beyond India’s primary metropolitan hubs.
Umesh Uttamchandani, Managing Director of Dev Accelerator Limited, emphasized the significance of the deal for the commercial real estate sector. “This is a defining transaction not just in scale, but in what it represents for the future of commercial real estate. A commitment of this size and tenure reflects increasing enterprise confidence in managed workspace platforms as long-term infrastructure partners.
Having partnered with Manubhai & Shah LLP across multiple cities over the last five years, their decision to entrust us with their new headquarters reflects the strength of our long-standing partnership and the confidence they place in our offerings. As businesses expand beyond traditional metros, cities like Ahmedabad are becoming strategic growth centres. Our focus remains on building institutional-grade workspaces that combine flexibility with operational reliability, enabling enterprises to scale efficiently,” Uttamchandani said.
The 3.15 lakh square foot Capital One campus has already attracted a diverse roster of enterprise occupiers across several high-growth sectors. In the IT and digital space, Openxcell Technolabs Private Limited and Tatvic Digital Analytics Private Limited have secured 360 and 226 seats respectively. The healthcare and life sciences sector is represented by Aqkode with 400 seats and Advanced Clinical India Private Limited with 180 seats. Other notable tenants include Patel Greentech, Walter P Moore, and Ignosi System Private Limited, showcasing the broad appeal of integrated workplace ecosystems.
As India’s business landscape becomes more distributed, corporations are prioritizing scalable, experience-led environments to bolster productivity and talent retention. The Capital One campus by DevX is designed to meet these needs, offering a suite of amenities including a managed cafeteria, coffee lounge, wellness facilities, gym, and crèche. By providing such comprehensive infrastructure, managed office providers are offering enterprises a way to reduce operational complexity while maintaining high-grade professional environments.
