Settl adds 2k beds across Hyd, 3 other cities in FY24

Hyderabad: Bengaluru-headquartered co-living operator Settl reported expansion in operational bed capacity by 100 per cent to reach 4,000 beds across Hyderabad, Chennai, Bengaluru, and Gurugram in FY 2024. Settl operated 2,000 beds in the previous year.

The startup registered rise in revenue, reaching Rs 33 crore at the end of March 2024, compared to Rs 15.5 crore at the end of March 2023. “The company’s growth reflects the rising demand for co-living spaces in major Indian cities. Tech hubs like Bengaluru, Chennai, Gurugram and Hyderabad, are witnessing a surge in demand for co-living spaces from young professionals and students. MNCs as well as domestic companies setting up shop in these cities are fueling this even further,” Abhishek Tripathi, Founder of Settl said.

Tripathi informed that Settl enters long-term lease agreements with builders and asset owners, designs and develops properties according to the needs and demands of occupants, before further leasing the space to working professionals.

“This approach allows Settl to offer residents a convenient living solution. Residents benefit from modern amenities, a sense of community, and a streamlined leasing process. Settl’s strong performance indicates that co-living is a growing segment within the Indian real estate market, driven by the country’s economic expansion,” he added.