Stanza Living, the student accommodation service provider, has forayed into Bengaluru with 5,000 beds. The move is part of the company’s expansion plan to hit 1 lakh beds across India by the end of 2021.
This entry into Bengaluru takes Stanza's total bed capacity to 15,000 across 10 cities in the country. In 2018-19, the company's revenue stood at Rs 20 crore.
Anindya Dutta, Co-Founder of Stanza Living, said, "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 is entering strategic student hubs across India like Dehradun, Vadodara, Pune, Hyderabad and Chennai in the next two years. The company has also scaled up its capacity in Delhi-NCR to 5,000 beds from its present capacity of 2,000.
Stanza Living has raised nearly $17 million till date from investors. It is backed by Sequoia Capital, Accel, Matrix Partners and Alteria Capital. The company provides fully furnished homes for college students with housekeeping, internet facilities and added services including laundry, doctors and a concierge.