<p>Turing the corner to post its first profit in quarter one of the current financial year, co-living platform Zolostays, which is presently in the midst of raising $50-100 million through a Series D funding round, is looking to tap the stock market in 2026. </p>.<p>Remarkably, despite his company’s performance, co-founder and chief executive Dr Nikhil Sikri, speaking to <em>DH</em>, admitted to facing increased skepticism from investors in the absence of high profitability amongst peers in the Indian startup ecosystem.</p>.<p>Zolostays registered a 126% year-on-year growth last fiscal and is on track to register an almost 100% growth rate so far into the year, to take its revenue from Rs 500 crore to Rs 1,000 crore in gross merchandise value, he added.</p>.<p><strong>Read | <a data-ved="2ahUKEwj-7In54ouAAxVgZ2wGHWMMBJ0QFnoECBMQAQ" href="https://www.deccanherald.com/city/life-in-bengaluru/in-booming-bengaluru-pg-room-rates-rival-apartment-rentals-1210351.html">In booming Bengaluru, PG room rates rival apartment rentals</a></strong></p>.<p>“Hope springs eternal,” Sikri remarked, as he recalled the brand’s journey to over 85% occupancy rates across its properties today versus June of 2021 when the said metric plummeted to as low as 25% in the backdrop of Covid-19. </p>.<p>It will deploy fresh capital from the ongoing fundraising activity towards expansion with an 80% focus in the co-living and student housing segments. The remaining 20% will cater to its hotel and brokerage arms.</p>.<p>With a 98% market share of the co-living and student housing segments in the hands of unorganised players, Sikri sees plenty of room for growth in the existing metro and tier I cities where the player is present. Having built a business on the understanding of urban migration, venturing into tier II/III cities does not feature on his long-term vision priority for Zolostays.</p>.<p>The company is in fact looking at Singapore, Dubai and Indonesia to go international with a pilot for its services within the next 12 months.</p>.<p>Talking about some key trends in the sector, Sikri highlighted growing concern amongst consumers for quality, higher disposable incomes and increased de-densification, which however defy Covid-19 prophecies. Zolostay sees a 70:30 ratio between its shared and single room properties as opposed to 85:15 prior to the pandemic.</p>
<p>Turing the corner to post its first profit in quarter one of the current financial year, co-living platform Zolostays, which is presently in the midst of raising $50-100 million through a Series D funding round, is looking to tap the stock market in 2026. </p>.<p>Remarkably, despite his company’s performance, co-founder and chief executive Dr Nikhil Sikri, speaking to <em>DH</em>, admitted to facing increased skepticism from investors in the absence of high profitability amongst peers in the Indian startup ecosystem.</p>.<p>Zolostays registered a 126% year-on-year growth last fiscal and is on track to register an almost 100% growth rate so far into the year, to take its revenue from Rs 500 crore to Rs 1,000 crore in gross merchandise value, he added.</p>.<p><strong>Read | <a data-ved="2ahUKEwj-7In54ouAAxVgZ2wGHWMMBJ0QFnoECBMQAQ" href="https://www.deccanherald.com/city/life-in-bengaluru/in-booming-bengaluru-pg-room-rates-rival-apartment-rentals-1210351.html">In booming Bengaluru, PG room rates rival apartment rentals</a></strong></p>.<p>“Hope springs eternal,” Sikri remarked, as he recalled the brand’s journey to over 85% occupancy rates across its properties today versus June of 2021 when the said metric plummeted to as low as 25% in the backdrop of Covid-19. </p>.<p>It will deploy fresh capital from the ongoing fundraising activity towards expansion with an 80% focus in the co-living and student housing segments. The remaining 20% will cater to its hotel and brokerage arms.</p>.<p>With a 98% market share of the co-living and student housing segments in the hands of unorganised players, Sikri sees plenty of room for growth in the existing metro and tier I cities where the player is present. Having built a business on the understanding of urban migration, venturing into tier II/III cities does not feature on his long-term vision priority for Zolostays.</p>.<p>The company is in fact looking at Singapore, Dubai and Indonesia to go international with a pilot for its services within the next 12 months.</p>.<p>Talking about some key trends in the sector, Sikri highlighted growing concern amongst consumers for quality, higher disposable incomes and increased de-densification, which however defy Covid-19 prophecies. Zolostay sees a 70:30 ratio between its shared and single room properties as opposed to 85:15 prior to the pandemic.</p>
