The company has showcased disruptive growth amidst the ongoing COVID drove challenges in the market, with occupancy reaching 80-90% of the pre-covid level.
“We have already signed some tent sheets with large family offices and private equity funds. The money will be largely deployed to scale the business and invest in technology,” said Deepak Anand, chief executive of Housr, a co-living firm.
With demand being erratic in the last 12-18 months, the brand put all its focus on creating a robust supply-side growth model and being ready with multiple bespoke properties across key cities catering to millennials, single working professionals and postgraduate students when the market revives.
The firm plans to scale to 150 properties and 20,000 beds by the end of 2023. At present, Housr has 15 properties across NCR and Pune and is aiming to aggressively launch more cities and properties in the next 6-9 months.
“This led to unprecedented market growth, and Housr continues to see strong demand amongst this growing segment of millennials and young professionals who seek flexibility, value and enriching community experiences. The
The onset of the second wave only validated this further, and Housr added 10 more strategically located, fully aggregated and serviced properties under its umbrella,”said Anand.
Housr is expecting significant demand coming back in the next few months with the country’s aggressive vaccination drive and COVID appropriate behaviour being followed specially in Tier1 and 2 cities. The main cities where
Housr has seen significant growth in the last 12 months are NCR (Northern Capital Region) and Pune.
“The demand is primarily driven by working professionals moving back to cities with life returning to normalcy and office spaces opening up gradually. We have a plan to launch one property every week,” he said.