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Coliving player Settl aims to expand to  5000 beds; to enter Noida, Pune, Chennai

Bangalore, July 3, 2023:  Coliving operator Setll plans to expand its capacity by more than 2.5 times to 5000 beds by the end of this fiscal and is looking to enter the Noida, Pune and Chennai markets. 

The company, currently has around 2000 beds across Bengaluru, Gurugram and Hyderabad across 40 centres. 

The Bengaluru-based startup charges between Rs 12,000 and Rs 18,000 per-bed. 

Abhishek Tripathi, Co-Founder Settl, said “We are currently present in three cities dominated by IT firms. We are now actively looking at entering Noida, Pune and Chennai where a lot of professionals are working in IT and other sectors. We anticipate strong demand for quality coliving centre in these cities.

The company is in an advanced stage of discussion with a few property owners in three cities where it has a presence as well as three new cities. The agreements are likely to be signed by September, says a press release issued by the company.

Settl is targeting Rs 41 crore revenue for the current fiscal year, driven by better occupancy levels in the existing centres and expansion in new as well as existing cities.