Co-living housing provider Housr has made its entry into the Hyderabad realty market with its very first venture opening in Kondapur. The company will soon have 12 properties by November with a cumulative capacity of 1600 to 1700 beds. According to Deepak Anand, founder, and CEO of Housr, the company will be rolling out one property each week and will have 12 properties coming up in the next 2-3 months. The target clientele happens to be working professionals in Hyderabad. Once the offices open next month, the company sees a big opportunity in catering to those working in the BFSI, IT, and start-up segments.
Incidentally, the company forayed into Hyderabad ahead of Chennai and Bengaluru, taking advantage of the pro-active ecosystem in Telangana. The existence of corporate parks, infrastructure, and higher salary levels has helped the company set foot in the state.
The company already has end-to-end co-living services along with work from home compliant rooms. They will soon be creating meeting rooms and other amenities in other properties in the next two to three months. Incidentally, the company works on an asset-light model and is leasing properties across Hyderabad and other cities where it will be expanding. They have a dedicated app where the customers interact with the firm. Housr also intends to improve the customer experience, and the platform will soon serve the needs of the supply side of the activity.
Meanwhile, Housr is also considering the inorganic route for expansion, wherein it is acquiring co-living companies in Hyderabad, Bengaluru, and the NCR. Already, they have shortlisted three companies, and acquisitions will happen soon.
The company is also exploring a hybrid model, wherein it will be providing co-living and co-working spaces in the same property. Pan-India, Housr intends to be present in 12 cities with 30,000 bed capacity over the next 18 months.
Founder-CEO Deepak Anand shares that Housr will be raising $30-40 million during the next quarter. Right now, they have their presence in Pune and will soon be starting operations in Hyderabad, Chennai, and Bengaluru. And by the end of 2021, Housr intends to start operations in Ahmedabad and Indore.