The Workplace Transformer: DevX and India’s Managed Office Revolution

Established in 2017 by Jaimin Shah, Umesh Uttamchandani, Rushit Shah, and Parth Shah, DevX has become one of India's fastest-growing and most trusted flex space operators, particularly the leader in Tier II cities. Having institutional investors like the Urmin Family Office, Bidiwala Family Office, and Siddhant Investments, DevX is transforming the way modern businesses and professionals live their workspaces.

Rushit Shah, Parth Shah, Umesh Uttamchandani, Co-founders, DevX

The Challenge

Imagine you’re a fast-growing startup, an MNC setting up a regional hub, or a small firm expanding into new cities — one challenge is universal: finding and managing the right office space without losing sleep over overheads and compliance.

The Founders' Vision

Four friends — Parth Shah, Rushit Shah, Umesh Uttamchandani, and Jaimin Shah — noticed in 2017 that companies large and small were weighed down by cluttered leases and inflexible real estate agreements. So they founded DevX: an all-in-one solution for beautifully crafted, fully serviced workspaces that grow with businesses.

Strategic Growth

Beginning in Gujarat, DevX targeted an emerging requirement: quality managed office spaces in Tier II cities — towns neglected by giant co-working chains but abuzz with entrepreneurial fervor. It grew strategically to cities such as Ahmedabad, Rajkot, Surat, Udaipur, and Indore, along with Tier I metros including Delhi-NCR, Mumbai, Pune, and Hyderabad.

Their formula is deceptively easy: DevX does it all — from choosing top-tier buildings, designing beautiful office interiors that reflect the individual client's brand, installing first-rate IT infrastructure, and then taking day-to-day management in-house. Clients simply walk in and start working, without worrying about maintenance, security, or compliance headaches.

Community Building and Growth Ecosystems

By FY23, DevX hosted close to 1.5 million sq. ft. of office space, housing startups, corporates, and Global Capability Centers (GCCs) that rely on DevX for stability and adaptability.

Their popularity is not merely due to good Wi-Fi and nice walls. DevX incorporates community building into its DNA: hosting networking sessions, wellness activities, and collaboration opportunities that turn offices into actual growth ecosystems.

Financial Performance

Financially, they are as solid too: over ₹111 crore in annual revenues, consistent growth into additional cities, and support from credible institutional investors such as the Urmin Family Office and Bidiwala Family Office.

DevX's objective is simple: reimagine office life for India's next generation of businesses — easy, inspiring, and stress-free.

In an era where hybrid work, scale-on-demand, and flexible operations are the new norm, DevX is a low-key powerhouse — transforming vacant floors into hot, thriving, and creative workplaces where businesses take off and ideas bloom.

Register for our Student Entrepreneurs Bootcamp here and win the golden opportunity to grow your business into an upcoming Unicorn!

Share DevX's story to your friends on LinkedIn or Facebook  and inspire them to launch their business ideas today.