At a valuation of Rs 356.50 crore, Bennett, Coleman and Company Limited (BCCL) and co-living startup Truliv have formed a strategic equity partnership.
DRA Homes and other investors had previously contributed 2.1 million US dollars to the Chennai-based company’s seed funding round.
The new funding will be used to strengthen Truliv’s technology platforms, increase its presence in new cities, and develop the next wave of alternative asset classes in the hospitality industry, such as vacation homes and retirement communities, according to a press release.
Truliv, a DRA subsidiary founded in 2019 by Rohit Reddy and Ranjeeth Rathod, is dedicated to revolutionizing India’s alternate asset class hospitality industry. The company wants to provide future-ready, impactful living solutions that meet the changing needs of various demographic groups.
Truliv claims that its built-to-suit, asset-light business model combines the elegance of hospitality with the efficiency of real estate. Its high-occupancy properties cater to India’s expanding population of young urban migrants, digital nomads, and mobile professionals.
With a number of additional products in the works, Truliv presently operates in the vacation home market as its second asset class. Retirement communities, student housing, and eco-friendly living options are all part of its future portfolio. Every offering aims to reinvent residential experiences by combining quality, innovation, and lifestyle integration.
The company is expected to make Rs 200 crore a year in the next three years, with plans to expand into new cities and diversify into new markets like vacation rentals, retirement communities, and nature-focused vacations.
