Stanza Living, a tech-enabled managed accommodation company, has launched an integrated facility management business vertical for college campuses and corporates across India and plans to invest close to Rs 15 crore to build the segment.
Starting with close to 10,000 hostel beds, the company has partnered with engineering and management institutes like JECRC University, Presidency University, GM Institute of Technology, and more, to help them offer a high-quality, hygienic, and tech-facilitated campus experience to students returning post the pandemic, the company said.
Educational institutes have historically struggled with hostel management issues like fragmented service offerings from multiple vendor partners, lack of quality control, and overall inefficiency of operations.
Stanza Living aims to address these through its technology-powered plug and play service ecosystem, which has been tested for diverse residential arrangements (PGs, student hostels, managed apartments, co-living solutions for working professionals, and now, campus hostels), it said.
Under this facility management vertical, young students and working professionals can enjoy services like F&B, laundry, housekeeping, mobility, security, community engagement, recreational activities, and more, accessible through the Stanza Resident App.
“As consumers increasingly prioritise safety, hygiene, and convenience, quality of living facilities has become a strong consideration factor in selecting an academic institution or even place of work outside their hometown. Partnership with a professional operator like us enables leading colleges and corporates to offer best-in-class living experiences to their students and employees. Seeing the growing inbound interest from partners across the country, we plan to invest close to Rs 15 crore to build out this high-potential segment,” said Anindya Dutta, MD and Co-founder, Stanza Living.
Stanza Living’s foray into campus facility management has clear synergies with their existing full-service managed accommodation business, and the new vertical is estimated to contribute 20% to company revenues by end of next year. Based on the degree of customisation and operating location, the company will be charging service fees in the range of Rs 3,500 to Rs 5,500 per consumer for the new offering.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
