Manasum Senior Living Invests Rs 800 Cr in Senior Housing
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Manasum Senior Living plans Rs 800 crore investment over 5 years to expand its senior housing business, targeting 10,000 units by 2030. Focus on ecosystem & job creation.
New Delhi, Jun 25 (PTI) Realty firm Manasum Senior Living will invest Rs 800 crore over the next five years to expand its business amid rising demand for homes for the elderly.
The Bengaluru-based company currently has 950 operational housing units across five projects in Bengaluru and Goa, while another 1,000 units are in the pipeline.
"We are targeting to reach 10,000 senior living units by 2030. We will invest around Rs 800 crore to expand business," the company's co-founder Anantharam V Varayur told reporters here.
Out of the five operational projects, he said the company has developed one greenfield project. It bought units in the other four projects.
Varayur said the company would remain asset-light and partner with real estate developers to expand its portfolio.
As part of its expansion strategy, the company will focus on major metropolitan markets including Bengaluru, Chennai, Ahmedabad, Hyderabad, Kochi, Mumbai, Pune, Kolkata and Gurugram.
It is also targeting Tier-II cities such as Mysuru, Mangaluru, Hubballi-Dharwad, Coimbatore, Lucknow, Chandigarh, Indore and Jaipur. The company said future growth will be funded through a mix of equity and debt.
Sumanthy Anantharam, co-founder of Manasum Senior Living, said the company aims to create a comprehensive senior living ecosystem rather than operate as a single-vertical business.
"Our focus is not limited to developing senior living communities. We are building an ecosystem that integrates housing, care, services and support infrastructure. As we scale nationally, we expect this ecosystem to create more than 5,000 employment opportunities, particularly in rural India," she said.
Kushal Ramesh, co-founder of Manasum Senior Living, said there is a significant shortage of trained professionals in the elder care industry.
"To address this gap, we plan to establish a caregiver academy that will train and support caregivers not only for Manasum's communities but also for the wider senior care industry," he said.
The Bengaluru-based company currently has 950 operational housing units across five projects in Bengaluru and Goa, while another 1,000 units are in the pipeline.
"We are targeting to reach 10,000 senior living units by 2030. We will invest around Rs 800 crore to expand business," the company's co-founder Anantharam V Varayur told reporters here.
Out of the five operational projects, he said the company has developed one greenfield project. It bought units in the other four projects.
Varayur said the company would remain asset-light and partner with real estate developers to expand its portfolio.
As part of its expansion strategy, the company will focus on major metropolitan markets including Bengaluru, Chennai, Ahmedabad, Hyderabad, Kochi, Mumbai, Pune, Kolkata and Gurugram.
It is also targeting Tier-II cities such as Mysuru, Mangaluru, Hubballi-Dharwad, Coimbatore, Lucknow, Chandigarh, Indore and Jaipur. The company said future growth will be funded through a mix of equity and debt.
Sumanthy Anantharam, co-founder of Manasum Senior Living, said the company aims to create a comprehensive senior living ecosystem rather than operate as a single-vertical business.
"Our focus is not limited to developing senior living communities. We are building an ecosystem that integrates housing, care, services and support infrastructure. As we scale nationally, we expect this ecosystem to create more than 5,000 employment opportunities, particularly in rural India," she said.
Kushal Ramesh, co-founder of Manasum Senior Living, said there is a significant shortage of trained professionals in the elder care industry.
"To address this gap, we plan to establish a caregiver academy that will train and support caregivers not only for Manasum's communities but also for the wider senior care industry," he said.
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