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A Company is to invest rs 200 crore, add senior living projects 4 new cities

May 22 2024

A Company is  to invest rs 200 crore, add senior  living projects 4 new cities

A US-based senior living community operator plans to invest over ?200 crore to expand its presence in India by entering Pune, Hyderabad, Kottayam, and Kochi. Each project will require an equity investment of around ?50 crore. The company is not currently seeking external fundraising and plans to start renting out senior living apartments in India for the first time.

The company aims to add 800–1,000 senior living homes every year, with potential revenue of ?150–200 crore per project. It is also looking at land in Mumbai and tier-II cities such as Hosur near Bengaluru. For FY25, the company plans to deliver 300 senior living units and launch an additional 1,200 units.

Senior living projects are residential apartments designed for older adults, with facilities such as wheelchair-friendly doors, anti-skid flooring, and assistive care to address age-related needs. Such projects have already been developed across Bengaluru, Hyderabad, Chennai, and Coimbatore. While most properties have been developed through joint ventures with local developers, the company is exploring a new fee-based model.

The company has identified a plot in Bengaluru for its first rental project, with an official announcement expected after the general elections.

 

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