Colive is a technology-enabled network of fully managed rental homes. These ready-to-move-in homes are conveniently located near IT parks and educational institutes. Colive homes are aesthetically designed spaces with chic designs and contemporary interiors, equipped with modern tech-enabled features. All Colive Homes are fully serviced and professionally managed with flexible, affordable options suitable for urban living
With an inventory of more than 40,000 beds, six million+ sq. ft. area/assets worth INR 30 billion, Colive is India’s leading co-living operator. The brand is home to students, working professionals, young couples, and migrant families in four major metro cities – Bengaluru, Hyderabad, Chennai, and Pune. The Colive community comprises millennials from diverse backgrounds and professions with vibrant tastes, preferences, and interests.
In an exclusive chat with Medianews4U Suresh Rangarajan, Founder and CEO at Colive, talks to us on the concept of Colive, the initiatives during the pandemic, and the way forward…
When was Colive started and what was the thought behind launching it?
Colive commenced business in 2016 and many properties launched in 2017. The largeness of the opportunity wherein urban migration was swelling and quality rental accommodation was not available prompted the founder to explore the Coliving segment. The movement from unorganized hostels and PGs to organized, branded Coliving is just about beginning and Covid will accelerate this change faster.
Students, young professionals, and young couples who move into large urban cities across the country face a severe challenge in finding safe, clean, and serviced spaces and Coliving is the answer for this challenge. Estimates indicate that the Coliving market potential in large cities alone totals 15 million.
Colive is a technology-based rental Management Company that offers serviced, long-stay living homes for students, young working professionals & young couples in Bangalore, Chennai, Hyderabad & Pune.
What was the thought behind your campaign #SaluteTheHero Campaign to Help Delivery Heroes with Complimentary Food Amidst Pandemic (we can additionally talk about our initiative for health workers)
While the tech & finance workers and most of the world is safely tucked and doing work from home, what is keeping the Indian economy running is the tireless work of some of the heroes.
Doctors, nurses, ward boys, ambulance drivers, crematorium workers, corporation staff are all Healthcare Heroes (HH) and have worked tirelessly to protect us from this deadly virus.
Delivery Heroes (DH) comprising of all staff delivery essential items like grocery, medicines, food & everything else making sure that we don’t need to step out and increased the spread. Imagine the country without Amazon, Big Basket, Swiggy, Zomato, Pharm Easy, 1 Mg, Licious, Grofers, Flipkart, Blue Dart, Dunzo delivery staff. Everyone of would have been out there getting out of home to get our essentials and the disease would be spreading even faster!
Challenges faced by HH
Most of the HH are doing double shifts with hardly any time to get home and get some rest & sleep to rejuvenate themselves or even time to take a nice shower in a clean bathroom! Of course, HH not being refreshed and rejuvenated is not going to help our cause in fighting this pandemic. The last thing, the country wants is HH falling sick due to lack of rest & adequate sleep.
Challenges faced by DH
What are the challenges faced by these essential services DH working in the frontline unmindful of contracting the virus? Have we ever given this a thought? They have NOT been vaccinated and do not have insurance cover to take care of Covid in case they are exposed. But there are more particle issues too. One of the challenges DH is facing today is limited or no access to food. While they are on the move all the time to ensure deliveries reach our doorsteps, they are actually starving! Earlier in cities like Bangalore, they would stop by at a neighborhood tea shop or canteen to pick up their bite or more likely pick up bananas or get a meal from the footpath vendor serving economical food. With these options closing down due to the prevailing restrictions, DH are going hungry &it’s not good for us!
#ColiveCares commitment for SaluteTheHero initiative
Club Colive commits 25,000 FREE room nights for HH and 25,000 FREE meals to DH as part of the SaluteTheHero initiative.
A way to thank HH & DH
Colive will offer FREE stay in clean rooms with all services provided in any of the 100+ properties across 4 cities thru the month of May for all HH. Colive commits to provide 25,000 room nights – 1000 room nights every day over the next 25 days. We sincerely believe that this will help HH to get refreshed before they start their great work again!
Also, Colive shall provide 25,000 FREE meals – 1000+ meals every day to DH across 10 locations (will ramp up to 20 soon) in Bangalore between 12 & 2 pm every day. Any DH can walk in and pick up his FREE meal before he resumes his tireless work. DH can just walk in (first cum first serve basis), show their ID card, and pick up their lunch for FREE. The food shall be available at these 10 different locations at Colive properties and shall be managed by volunteers who are Club Colive members.
The pandemic and the ensuing lockdown were tough on people and business, how did you keep the morale of your employees and self to stay positive?
Constant communication is key especially during tough and difficult times. I keep talking to people, make it a point to connect with my one downs over a call one on one during the day at least once. Townhall meetings are important and sharing of positive messages and achievements and small progress that each one is making over WhatsApp regularly will ensure people stay connected and motivated. It’s not about a zoom call that’s impersonal, but it’s about making people feel that you are energized, and passing on that positive energy to others is what matters immensely
Marketing strategies?
Organized Rental market for students & Young professionals is the key as they are the backbone of India. There are 8 mn student hostel beds & 7 mn migrating professionals who need a clean well maintained hygienic, safe long-term space to stay. There are not even 1 mn Co-living beds around. Huge opportunity, our audience does not like to stay home, they will be back as soon as things are normal. Peak occupancy of Colive has been 90%.
Important fact remains that we are serving digitally savvy customers. They are constantly on social media. Our biggest acquisition channel remains social media. Also corporate and college outreach has helped us establish ourselves as a go-to brand amongst the target segment.
What is your strategy now to get your business back on track?
Innovation has been the key to our success. We are ensuring that we create products that are in demand. Over the last month or so, Colive has launched a slew of new innovative properties. Some of them include a Big Bubble a very unique and path-breaking Coliving experience for about a select few in a house that is isolated and in a bubble. Importantly, the winner takes away an NFT – Non-Fungible Token – a Lifetime Coliving Token that enables the winner to stay in any Colive property for a lifetime.
Another product that’s coming up is the Gurukul where we are getting the MBA students to build their network by living together and ensuring there is skill development thru job readiness programs that are offered in the premises.
Also, our Club Colive ensures that our members can physically network with mentors and peer group while getting deals & offers from various brands that are required for their living in a new urban city
Expansion plans?
Colive will be in 15 cities across the country by end of this year. Plans are being rolled out and acquisitions are being made accordingly. We should be able to offer 1 lakh beds to our members shortly
Where do you see yourself in the next 3 years?
Colive will be the most loved brand in the Coliving space with a deep understanding of the customer requirements. Tailoring properties and offers based on the needs will make sure that Colive will remain with its leadership position in the industry. Our aim is to serve 1 million members across the country by 2024!
