Student housing startup Stanza Living to invest Rs 150 Cr for working professionals' accommodation
Delhi-based student housing startupon Wednesday said that it plans to invest Rs 150 crore in offering accommodation services for working professionals.
Anindya Dutta, Managing Director and Co-founder, Stanza Living said, "We will invest Rs 150 crore over one year for working professional category to grow the category to 50,000 beds in next one year."
"Starting with an inventory of 10,000 beds for working professionals across Bengaluru, Hyderabad, Pune, and Coimbatore, the company aims to grow it to 50,000 beds in one year," he said.
Founded in 2017 by Sandeep Dalmia and Anindya Dutta, Stanza Living offers solutions for students and working professionals with an inventory of 55,000 beds across 10+ cities in India.
The company plans to expand its services for the working professionals in six cities by the end of next quarter, Dutta added.
Speaking on the extension of the startup's operations, Anindya said,
“After successfully catering to student requirements across 10 cities, we feel this is the appropriate time to foray into the working professional category. Like our student offering, we have invested in understanding the nuanced needs of working professionals and will be launching a separate product offering designed for their lifestyle requirements.”
Stanza Living’s solutions for working professionals have been developed after 10 months of research and planning, which also included interviews with 3,000 graduating students, entry-level working professionals, and property owners. The insights gathered on their lifestyle requirements have been used to create a customised shared living space for migrant working professionals.
“Our foray into the working professional's 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," stated Sandeep Dalmia, Managing Director and Co-founder of Stanza Living.
(Edited by Suman Singh)