Student accommodation service provider Stanza Living Sunday said in a company statement that it has entered the Bengaluru market with 5,000 beds as part of its expansion plan. The target is to hit 1 lakh beds all over India by the end of 2021.
With this, Stanza’s total bed capacity will be 15,000 across 10 cities in India. The company’s revenue stood at ₹20 crore in 2018-19.
“As an educational hub, Bengaluru sees record enrolments from domestic as well as international students with only a limited percentage being able to find campus-affiliated hostel facilities. Bengaluru is poised to be one of our largest markets in India,” Stanza Living co-founder Anindya Dutta said.
Stanza Living has raised nearly $17 million from investors in 2 years. It is now planning to enter student hubs across the country such as Dehradun, Vadodara, Pune, Hyderabad and Chennai.
It has also scaled up in Delhi-NCR to 5,000 beds from its current capacity of 2,000. Stanza offers fully furnished homes for college students with all the facilities like housekeeping, internet facilities and added services such as laundry, doctors and a concierge. Its monthly rentals range from ₹5,000 to ₹20,000 depending upon the additional services.
The startup is backed by investors like Sequoia Capital, Accel, Matrix Partners and Alteria Capital.