The Hive Hostels to Expand with Rs 10 Crore Investment

The Hive Hostels plans to invest Rs 10 crore to add 3,000 beds by the end of this fiscal year. The company, with a presence in over 10 cities in India, has partnered with Crib Property Solutions for digital transformation and aims for Rs 60 crore revenue.

The Hive Hostels, a leader in student housing, is set to invest Rs 10 crore to expand its capacity by 3,000 beds before the fiscal year ends. The expansion will be aided by Crib Property Solutions, who will provide crucial technology support for managing co-living centers.

Currently operating in over 10 Indian cities, The Hive Hostels manages 20 properties with an inventory of more than 5,000 beds. This growth comes on the heels of a recent investment of Rs 11.5 crore from prominent investors, including Shriram Madhav Nene.

With the company aiming for a revenue milestone of Rs 60 crore this fiscal, the collaboration with Crib is expected to further digitalize its operations, financial systems, and management processes. Crib, supported by investors like Kunal Shah, Vijay Shekhar Sharma, and Ghazal Alagh, already collaborates with over 2,000 co-living operators across India.

(With inputs from agencies.)