OYO LIFE claims to be the largest co-living company in India
OYO LIFE has claimed to be India’s largest co-living company, just one year after foraying into the segment. It has over 40,000 live beds and 700 buildings across 9 cities in the country.
OYO LIFE aims to double its bed capacity to more than 100,000 beds in FY20. Currently, the firm is operating across Gurugram, Noida, Bengaluru, Pune, Delhi, Mumbai, Hyderabad, Chennai and Kolkata cities.
Launched in 2018, OYO LIFE is witnessing around 85-90% occupancy and that 95% of the tenants have renewed their subscriptions.
Recently, the company confirmed its growing presence in the student housing sector through tie-ups with marquee institutes such as IIT Delhi and Plaksha University’s fellowship program in Gurugram.
Rohit Kapoor, CEO of OYO LIFE, said, “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,” he added.