“Our sales have been zero for the last 15 days,” says Viral Chhajer, co-founder of Bengaluru-based co-living startup StayAbode.
With India in the midst of a 21-day countrywide lockdown because of the novel coronavirus pandemic, co-living companies such as StayAbode have been badly hit.
Chhajer reckons business could drop by 25% by the end of April if the lockdown extends beyond the initial 15 April deadline. Other co-living spaces reckon occupancy is down by 40-50%. Zolostays, India’s largest co-living operator, has cut its expected growth rate from 140% to about 70-80% for the year ending March 2021.