Housr Expands Coliving: 30 Centers, 3000 Beds by 2024

New Delhi, Oct 19 (PTI) Co-living operator Housr plans to open around 30 new centres comprising 3000 beds by March next year as part of its expansion plan to meet rising demand for luxury housing accommodations.

Housr currently has a portfolio of over 5,000 operational beds across 74 properties in five cities, including Gurugram, Bengaluru Hyderabad, Pune and Vizag.

The company plans to add over 3,000 beds in about 30 new properties across seven cities, pushing the number of beds to over 8,000 in 100 properties by March next year, it said.

Deepak Anand, Co-founder & CEO, Housr, said, "On average, we deliver 3-4 properties per month across our existing markets, and that helps us to maintain a steady pace towards our goal of 100 properties by the end of this fiscal year.

"Before the pandemic hit us all, we saw significant demand for twin-sharing rooms. However, post-pandemic, the preference has shifted dramatically. We saw exponential demand for single occupancy and, over time, for even more private spaces," he said.

At present, Anand said the company is witnessing the highest demand for 1 BHK units.

"In the last two years, Housr has tripled in size, driven by both organic and inorganic growth. We have seen the market evolve significantly, with tenants willing to pay more for better amenities and larger living spaces," Anand said.

As a result, he said the company has transitioned from offering premium to super-premium products to match the demand.

"We are targeting high-growth areas like Golf Course Road and South City in Gurugram, HSR Layout in Bangalore, and Kondapur and Madhapur in Hyderabad, where the demand for ultra-luxury accommodations is soaring," he said.

Housr said its super-premium projects have also attracted corporate clients, who lease entire buildings for their employees.

"There is a substantial potential in the B2B market that no other co-living player has tapped into at this level; companies that used to house employees in luxury hotels are now turning to us for long-term stays, which has become an additional revenue stream for our business," Anand said.

The company is currently operating at an annual run rate of Rs 100 crore and aims to double this figure over the next 12-15 months.

Housr provides managed accommodation for millennials and working professionals through its fully furnished and managed co-living spaces, serviced apartments, and studios.