How a Delhi company is planning to increase student housing in Pune

“Pune is a very big market for us. It is cheaper than Mumbai in terms of cost of living so a lot of students prefer Pune universities and colleges. Our approach is to build in the micro markets where we are already present and gradually add capacity in the markets where we are not present. Lohegaon, for instance, where D Y Patil University has a large campus, is a focus. Anywhere where there is an educational hub and 8,000-10,000 students coming becomes a natural catchment area for us,” says Nidhi Kumra, your-space CEO.

She adds that the company is building “marquee assets”, which can cover large parts of Pune. “We don’t have a large presence in Katraj or Karve Nagar and will build this up. In Viman Nagar and Wakad, we have a presence but will increase capacity,” she adds.

your-space is at the other end of the spectrum, a long way away from the cramped rooms and dormitories where students traditionally spent their college and university years. The company has become synonymous with quality housing for students and offers a 24-hour warden, security, housekeeping, dining rooms, meals, Wi-Fi, common areas and, space permitting, gyms and entertainment spaces. A room has only two or three students. There is a priority on having well-ventilated and well-lit rooms. The average cost to a student is Rs 15,500, excluding tax and electricity bills.

The company is among those that rode out the pandemic with a growth mentality. It acquired real estate, including three-star hotels, pan-India, when the property market had yet to correct itself after the pandemic. Today, your-space is present in cities from Delhi, Mumbai and Bengaluru to Ahmedabad, Vadodara, Indore and Jaipur.

If your-space focuses on the experience of living, it is because Kumra enjoyed her hostel years during her post-graduation at Trinity College, Cambridge University. She and Shubha Lal, the COO of your-space, were working in London when they visited their alma mater, Delhi University, and found that nothing had changed in the 10 years that they had left. “We decided to move back to India because we realised there was a need for a similar hostel experience for students in India,” says Kumra, who used to be a trader at Lehman Brothers, Bank of America and Merrill Lynch in London.

Last year, the company started YS Clubhouse in North Campus, Delhi, a space where students from nearby hostels can hang out. YS Clubhouse will open in Pune in the coming months. “We want to build a community and feel that we need a physical space for that. The Clubhouse includes study pods, a cafeteria, and an amphitheatre, which is used for open mic and theatre rehearsals. It screens sports and enables students to just hang out without the pressure to buy anything,” says Kumra.

The company has also started YS Scholarships so that students do not walk away from a college because they cannot pay a few thousand rupees a year. “The money goes directly to the college and is for academics only. We did 53 scholarships last year and this year’s target is 100 scholarships,” says Kumra.