Stanza Living enters housing for working professionals, commits Rs 150 cr

Student housing start-up Stanza Living on Wednesday said it would be enterig managed housing for working professionals with a planned investment of Rs 150 crore in coming quarters.

The firm currently has a combined capacity of 10,000 beds spreading across Bengaluru, Hyderabad, Pune and Coimbatore for this new segment. This will be a separate business vertical for the real estate start-up, which is designed around the lifestyle needs of working professionals, the company said.

“After building India’s largest student living company and successfully catering to student requirements across 10 cities, we feel this is the appropriate time to foray into the working professional category. We will be launching a separate product offering designed for their lifestyle requirements," said Anindya Dutta, MD and Co-founder,Stanza Living. The company plans to grow its working professional business into three more cities by the end of next quarter.

The startup's foray into working professional's category comes after it has a made strong presence in student housing spread across 10 cities. Currently, the combined inventory for students and working professionals stands at around 55,000 beds.  

Delhi-based Stanza Living, which started operations in July 2017, has raised total funding of around $70 million so far from global investors like Falcon Edge Capital, Sequoia Capital, Accel, Matrix Partners, and Alteria Capital.