Yes actually one major development has happened few days back. COVIE has been launched officially as a modern co-living brand and it will add to inventory in this industry with more than 3,000 beds in Bangalore, Pune and Mumbai. This further shows the future growth prospect of this sector. The brand is now looking at posting Rs. 10,000 per bed as the industry standard for its first year through scaling up customer acquisition along with acquisition of geographical locations and beds alike. COVIE will be offering modern living for those with similar values, interests and personalities as the founders have said.
All I know is COVIE will be a premium solution at least going by what they are saying and it will take on many established players in this market which we both know. There will be more technological expertise offered to customers by COVIE as announced by the founders and it will cover professionals, students and also senior citizens. The latter brand is COVIE Plus while students will have COVIE ED as their brand. Professionals will have COVIELiv. I also think they are planning to go into new markets like Kota, Chennai, Jaipur, Coimbatore, Hyderabad and of course Delhi-NCR in near future. The founders at the launch said that 30,000+ beds are now the target within next 2-3 years at least that’s what I saw online.