Start-up to invest Rs 150 cr in shared-living services biz

Starting with an inventory of 10,000 beds for working professional across Bengaluru, Hyderabad, Pune and Coimbatore, the company aims to grow it to 50,000 beds in one year, Stanza Living MDand co-founder Anindya Dutta said.

“We will invest Rs 150 crore over a period of one year for working professional category with an aim to grow the category to 50,000 beds in next one year,” Dutta said.

The company has been catering to the requirements of the student community and it now claims to have a consolidated inventory of 55,000 beds pan-India for students and working professionals.

Stanza Living will operate accommodation for working professionals as a separate business line, that will be designed around the lifestyle needs of working professionals, he said.

The company plans to expand services for the working professionals in six cities by the end of next quarter, Dutta said.

Solutions for working professionals have been developed after 10 months of research and planning, which also includedinterviews with 3,000 graduating students, entry-level working professionals, and property owners,it said.

Sandeep Dalmia, MD and Co-founder, Stanza Living, said “our foray into this category follows the journey of our student consumers. As they graduate and become potential migrant working professionals, we want to continue delivering an aspirational lifestyle solution adaptable to their evolving needs, wherever they migrate.”