ROHIT EXPLAINED THAT the company wanted to create living options across every stage of adult life, from student housing to co-living, holiday homes and senior living. Co-living is the first segment they have entered as the demand gap is the highest. Around 2016, shared living gained attention in India, but the market lacked quality and consistency. Rohit Reddy, Founder, Truliv, identified the need for a structured model. “Our approach was to build purpose-based accommodations with real estate at the core, hospitality to run the operations and technology to connect everything,” pointed Rohit. This pyramid model continues to define their operations.
LEARNING THROUGH THE PANDEMIC
Truliv was only a year old when COVID-19 stopped operations. The early model, was based on shared rooms. Thus, the company redesigned its spaces for single occupancy. It also moved from a lease-heavy structure to a partnership and management contract model. Property owners and developers now work with Truliv on revenue-sharing or guaranteed-return formats. This reduced fixed cost has made the company asset-light.
EACH PROPERTY IS A SEPARATE COST CENTRE
India’s co-living market has grown from USD 8.5 billion in 2019 to USD 16 billion in 2024. Only 5 per cent of this is organised. Rohit noted that the demand and competition will help improve supply quality. The founders initially invested about Rs 5 crore. In 2023, Truliv raised a pre-series funding of about USD 1.8 million. Though the amount was modest for the industry, Rohit said their capital-efficient structure made it sufficient for planned expansion. Each property is treated as a separate cost and revenue centre. Truliv’s main customers are young working professionals aged around 25. About 35 per cent of residents are women. Rohit stressed that standardisation across locations was their key strength. “Wherever you stay, the experience is the same and all communication and transactions are handled through our app,” he said.
BUILD-TO-SUIT AND BSLO MODEL
Truliv operates one of the largest build-to-suit co-living facilities in the country at Navalur. The project covers 1.39 lakh square feet and houses 728 residents. The company has also introduced the Build, Sell, Lease and Operate (BSLO) model. Developers build and sell assets to investors based on Truliv’s specifications. Investors lease them back to Truliv, which provides a rental guarantee and manages operations. Truliv was the first to create this model, and it is now being replicated across the country.
FUTURE AHEAD
Truliv has also entered the holiday home business, The company operates nine premium villas ECR, Chennai. Holiday homes are short-stay properties while co-living properties cater to long-stay residents. Both are managed under separate verticals with different operational models.
With plans to expand to Bengaluru, Hyderabad and Pune, by 2030 Truliv plans to operate in at least six cities for co-living, twelve destinations for holiday homes and about ten thousand beds in student housing. They have plans to expand into retirement and senior living accommodations too. Truliv targets revenue of Rs 60 crore by the financial year 2026 and a top line of Rs 500 crore by 2030 through multiple verticals.