- Your-Space Invests up to 50 Crores this Financial Year, in a Nationwide Expansion.
- Aggressive expansion commenced in Pune and Ahmedabad, opening 8 new locations and adding over 2000 beds.
India, 22nd July, 2022: Your-Space, India’s most loved student-housing brand, is currently expanding to 15,000 beds across the nation by the end of July, 2022. A roadmap is in place to double Your-Space’s count to 30,000 beds by 2023.
As the first student housing company to implement a digital booking platform, Your-Space has enabled students to book online using virtual tours of the space, rather than the traditional process of visiting hostels first. The website has proven to be the fastest mode to book rooms at Your-Space, attaining a visible growth of 50% each month. This past month, Your-Space experienced the highest organic website visits, proof of the impressive current occupancy rate of 85%+ across all cities.
After Your-Space tripled the size of its business in the last two years, on track for its fiscal year projection, the promise as a trusted brand for students enabled Your-Space to withstand and grow even during the pandemic. Investing up to 50 crores in the nation-wide expansion, Nidhi Kumra, Co-founder and CEO, Your-Space, discussed how this has always been a part of your-space’s growth plans. “These cities are the educational hubs of India, where students travel away from their homes and work hard towards their dreams. Being able to provide your-space’s facilities here would help several students find a community and the safety of their homes.”
As the number 1 housing-brand in competitive markets like Mumbai and Delhi, Your-Space is lining up to achieve the same in all cities with this nation-wide expansion. The largest for this season starting in Bangalore, Delhi, Pune, Ahmedabad, Dehradun and Mumbai.
Your-Space’s comfortable and secure atmosphere with home-like food, friendly wardens, and diligent Covid-19 protocols has brought in an increased demand with students. This is assisted by Your-Space’s understanding in the micro markets of its operation. With the Covid-19 uncertainty also beginning to ease out, students are excited to return to their old college lifestyle, which Your-Space is here to accommodate with its nationwide expansion underway.
About Your-SpaceYour-Space is an IIM-Cambridge initiative co-founded by former bankers, consultants, and great friends, Nidhi Kumra and Shubha Lal who recognized the disproportion in the student housing environment and created a welcoming space for young adults to find a home in. Your-Space was set up with the purpose of improving student-life while they work hard away from home. Your-Space was born with a purpose, to better the students’ world while they toil hard to study away from their homes. Its foundation is cemented in four pillars of commitment: Security, Comfort, Community and Health. It is redefining student living with a unique product proposition. The core philosophy is to cultivate a student-first environment that promotes holistic well-being and personal growth. With 9000+ operational beds in 9 cities, Your-Space will have more than 20,000 beds by July 2022 for the coming 2022-2023 academic year.