Student accommodation service provider Stanza Living Sunday said it has entered Bengaluru with 5,000 beds as part of its expansion plan to hit 1 lakh beds across India by the end of 2021.
With this, Stanza's total bed capacity will be 15,000 across 10 cities in India. The company's revenue stood at Rs 20 crore in 2018-19.
"As an educational hub, Bengaluru sees record enrolments from domestic as well as international students with only a limited percentage being able to find campus-affiliated hostel facilities. Bengaluru is poised to be one of our largest markets in India," Stanza Living co-founder Anindya Dutta said.
In two years, Stanza Living, which has raised nearly USD 17 million till date from investors, is entering strategic student hubs across the country such as Dehradun, Vadodara, Pune, Hyderabad and Chennai.
Simultaneously, it has scaled up its capacity in Delhi-NCR to 5,000 beds from its current capacity of 2,000.
Backed by Sequoia Capital, Accel, Matrix Partners and Alteria Capital, Stanza offers fully furnished homes for college students with housekeeping, internet facilities and added services such as laundry, doctors and a concierge. Its monthly rentals range from Rs 5,000 to Rs 20,000.
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