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Housing start-up Placio is on an expansion-spree, with plans to increase the number of beds by about 30 times in three years.
“Placio currently has 3,000 beds across India and in next three years, we are eyeing about 1,00,000 beds. We are also planning for partnerships with 50 universities for the same,” said Rohit Pateria, founder, Placio. He added that the start-up is planning to focus on private universities where the fee levied is quite high and the well-heeled generally enrol as students.
Placio is targeting 20 cities for its expansion, including Chennai, Coimbatore Vellore, Bengaluru, Nashik, Pune, Mumbai, Chandigarh and Dehradun. There are three models on which the company is working — lease, upgrade, and operate.
“If the student housing properties are on campus, then we are leasing the hostel for a long term. Secondly, the the hostels in universities are poorly managed and not matching up with the aspirations of new-age millennials, so we upgrade them. Thirdly, we are tying up with universities directly, and operating their on-campus hostels. If there is a demand for more rooms, we are also creating capacity off-campus,” he said.
Recently, the start-up announced its entry into the international market by venturing into the co-living segment with Arabian Link, a Kuwait-based managed housing company.
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