With more than 40,000 live beds and 700 buildings across 9 cities in India, OYO group has claimed to be the largest co-living company in India, just one year after venturing into the segment. Rohit Kapoor, the CEO of OYO LIFE, which is the company’s real estate arm, said that it will double its bed capacity to more than 100,000 beds in FY20.
OYO LIFE which was launched in 2018 is witnessing around 85-90% occupancy and that 95% of the tenants have renewed their subscriptions. OYO LIFE currently operates across Gurugram, Noida, Bengaluru, Pune, Delhi, Mumbai, Hyderabad, Chennai and Kolkata cities.
The company recently confirmed its growing presence in the student housing sector through tie-ups with marquee institutes like IIT Delhi and Plaksha University’s fellowship program in Gurugram.
“Technology and design have always been key differentiators for us as well as our focus on building a community of young professionals through our in-house networking events."
Originally targeted at young professionals and first jobbers, we have been seeing interesting case studies of customers across various stages of life ranging from students, couples, right up to families and senior citizens across diverse income groups, choosing OYO LIFE as their preferred option. Consequently, we expect the co-living market to continue to grow further and we at OYO LIFE are geared to provide over 100,000 beds by 2019-end,” Kapoor said.