The company has plans to increase its room capacity by twofold in Mumbai, Pune, Bengaluru, Hyderabad and Chennai.
Bengaluru-based Colive aims to manage more than 30,000 rooms by the end of 2024.
“We are raising capital and are looking at multiple tie-ups with builders to expand our portfolio as there is a demand-supply mismatch. We believe Co-living will be the next big wave in India, which will alter the rental real estate landscape,” said founder Suresh Rangarajan.
The company is currently in the process of developing custom-built real estate designed to meet the specific needs of co-living arrangements. Additionally, it is set to venture into hybrid integrated pods, which will combine co-living and co-working spaces, in its forthcoming projects.
The Sattva Group had acquired a 50% stake in Colive for ₹63 crore as part of a series-A funding in 2019.
