Housr, a leading co-living company, is planning a massive expansion to add over 3,000 beds across 30 new properties in seven cities, pushing their total inventory to over 8,000 beds in 100 properties by March 2025. The company aims to hand over 11-12 properties currently in the pipeline and foray into new markets like Chennai and Chandigarh. The company has seen a dramatic shift in demand, with a preference for single occupancy and larger private spaces over twin-sharing rooms, particularly post-pandemic. Housr has tripled in size over the last two years, driven by both organic and inorganic growth, and is now transitioning to offer super-premium products to cater to the evolving market needs. Housr is operating at an annual run rate of INR 100 crore and aims to double this figure over the next 12 to 15 months.
Housr, a co-living company, is planning to expand its operations by adding over 3,000 beds across 30 new properties in seven cities, pushing the total number of beds to over 8,000 in 100 properties by March 2025.
The company aims to hand over 11 to 12 properties currently in the pipeline and is also looking to foray into new markets, including Chennai and Chandigarh, over the next three to four months.
Deepak Anand, the co-founder and CEO of Housr, stated that the company delivers three to four properties per month on average across its existing markets, helping them maintain a steady pace towards their goal of 100 properties by the end of the current fiscal year.
Prior to the pandemic, Housr saw significant demand for twin-sharing rooms, but the preference has shifted dramatically post-pandemic. The company has witnessed exponential demand for single occupancy and more private spaces. Currently, Housr is experiencing the highest demand for 1 BHK units.
Over the last two years, Housr has tripled in size, driven by both organic and inorganic growth. The company has seen the market evolve significantly, with tenants willing to pay more for better amenities and larger living spaces. As a result, Housr has transitioned from offering premium to super-premium products to match the demand.
Housr's super-premium projects have also attracted corporate clients, who lease entire buildings for their employees. This has become an additional revenue stream for the company, as companies that used to house employees in luxury hotels are now turning to Housr for long-term stays.
Housr claims to be on track to achieve an annual run rate of INR 150 crore, and is currently operating at an annual run rate of INR 100 crore. The company aims to double this figure over the next 12 to 15 months.
Housr is targeting high-growth areas like Golf Course Road and South City in Gurugram, HSR layout in Bangalore, and Kondapur and Madhapur in Hyderabad, where the demand for ultra-luxury accommodations is soaring.
Housr provides managed accommodation for millennials and working professionals through its fully furnished and managed co-living spaces, serviced apartments, and studios. It currently has over 5,000 operational beds across 74 properties in five cities, including Gurugram, Bengaluru, Hyderabad, Pune, and Visakhapatnam.
Housr's expansion plans demonstrate its ability to adapt to the changing market dynamics and capitalize on the growing demand for premium co-living spaces. With their focus on delivering high-quality accommodations and attracting corporate clients, the company is well-positioned to solidify its position as a leading player in the co-living industry. As Housr continues to expand its footprint across India, it will play a crucial role in shaping the future of communal living and redefining the standards of modern, hassle-free accommodation for millennials and young professionals.
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