Restay India Expands Student Housing with 1,000+ Beds in Ahmedabad and Gandhinagar
Restay India is making significant strides. From a single hostel in Gandhinagar, it now manages over 1,000 active beds in Ahmedabad and Gandhinagar. Founders Kush Jagetia and Abhay Kursija have been building this venture since 2022.
Humble Beginnings to Rapid Growth
It all began straightforwardly. College friends noticed gaps in student accommodation, poor quality and lack of community. They committed to changing this. Now, Restay offers hotel-like experiences that create a sense of belonging. Revenue has surged: ₹70 lakhs in FY24, jumping to over ₹2 crore in FY25. Projections aim for over ₹5 crore by the end of FY26.
Key statistics are impressive:
- 85% average occupancy rate
- Over 70% renewal rates
- Launch of a 540-bed franchise in FY25
Booming Market Fuels Ambition
India's student housing market is filled with potential. Demand is nearing 12 million beds, while supply is only at 4 million. By 2036, the number of relocating students could hit 31 million. Restay is in a prime position to benefit from this trend. Their success in Gujarat sets the stage for expansion into Tier-1 cities such as Pune, Bangalore, Delhi, and Mumbai. They are also exploring traveller hostels in Udaipur, Jaipur, Goa, and Uttarakhand.
Smart Business Models Drive Scale
Restay employs a mix of innovative strategies. Their FOCO and revenue-sharing models attract numerous partners. They transform real estate into hostels and co-living spaces. Investors are eager for high returns on shared portfolios.
Why this approach works: Students desire safe, amenity-rich living spaces close to their campuses. Restay meets these needs with features like Wi-Fi, laundry services, and community atmospheres, setting them apart from disjointed competitors.
Future Vision: Nationwide Network
Some projects are underway in major cities. The main goal is to become India's leading community-focused shared living brand, seamlessly connecting student housing with traveller accommodations.
Restay demonstrates that determination pays off. In a market projected to grow at a 7.2% CAGR until 2033, their journey serves as an inspiration for both developers and investors.