Opex Run 20 locations across India
The Delhi based SITC (Security Installation Testing & Commissioning) and Value added System Integrator – Iris Waves has recently tied up with Stanza Living, India’s Newage Residential Chain having over 50 locations Pan India. This startup company is creating and opening Popular & Modern Living Environments, Hostels, PGs & Managed Residential areas.
Its business model centers around the huge market which provide affordable accommodation to both students & workers migrating to India’s fast-growing megacities. Stanza Living, is a unicorn that have ventured into a new kind of living & accommodation infrastructures for University Students, Corporate Employees as well as PGs.It employs over 1500 ppl beside which Stanza Living has chosen Iris Waves to opex run their facilities
Iris Waves addressing Stanza Livings business expansion concerns has supplied them with fixtures and assets. Speaking to news man Mr Manish Singh Product Manager , Iris Wave said “We have supplied and installed assets like Air Conditioners – Refrigerators – Television – Microwave Oven across 20 locations, and shall be running them for 3 years “ With a 50 cities presence country wide today, Stanza Living is reshaping building & complexes into modern residential accommodations for India’s increasing working class.
Under the agreement – Iris Waves have offered them an unique Opex arrangement of supplying assets like – Computers, Air Conditioners, Android Smart TVs. Iris shall install them at their facilities, run and maintain for a 3 years period on rental lease basis. By way of this arrangement Iris Waves has helped Stanza Living ease much pressure on their capital allowing them to concentrate more on expansion.
Talking to newsmen, Mr Himanshu Chawla, CEO, Iris Global said –“ We have supplied Stanza Living with over 250 Lloyds Split Air Conditioners, 300 Dell Computers and 43” Smart Android TVs for their 200 rooms at an estimated cost of Rs 50 Lacs. We shall soon be adding a 100 more ACs.
Iris Waves is bringing in new technology solution with products like – Smart Access Control Devices and Oxygen Concentrators that is soon becoming a viable option in today’s living.
“We expect to cross over a 3 Crore revenue with over a 1,000 Nos of fixed assets supplied, installed and running, this calendar” Chawla concluded.