Image of the co-living space
Image of the co-living space

In June 2020, the second and the final tranche was paid by JM Financial Private Equity to complete its investment in Coimbatore-based co-living operator, Isthara Parks Private Limited. The total investment in two tranches was worth Rs 40 crore.

Isthara Parks is the first co-living operator in India to manage an on-campus student housing facility.

Commenting on the investment, Darius Pandole, Managing Director and CEO, PE & Equity AIFs said, “We did extensive research on the co-living sector and identified Isthara as a potential leader in the space. The Isthara management brings to the table deep domain knowledge in hospitality, IT & real estate and proven execution capability. The Fund focuses on backing strong entrepreneurs with disruptive ideas combined with on-ground operational excellence.”

After the first investment was made in Isthara Parks it expanded at a fast pace. The company already has 5,000 beds under student housing, with fresh investments another 4,000-5,000 beds under executive housing will be added by the end of the current financial year.

Gilbert James, Managing Director, Isthara said, “in addition to growing on our own, we are scouting for good acquisition opportunities to invest in at reasonable valuations during these times.”

In July 2019, the company had around 2,300 operational beds in Hyderabad and Bangalore. In less than a year, Isthara has expanded operations additionally to NCR and Coimbatore and more than doubled in size, with close to 6,000 operational beds.

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