Colstay Limited

Business Overview

• Colstay Limited, operating brand: "The Hive Hostels", runs asset-light, fully-furnished premium PG/student-housing and long-stay hostel accommodation across India — meals, WiFi, laundry, gym, and community amenities targeting students and young professionals.
• Founded 2019 by brothers Bharat Agarwal (Founder/MD) and Siddharth Agarwal (Co-founder/WTD).
• Per the official site, as of the latest listing it operates 19+ properties across 5 cities, Mumbai, Noida, Ahmedabad, Pune, Jalandhar, claiming 10,000+ students served
• A separately sourced press summary, via DuckDuckGo aggregation, not a primary filing, claims broader "10+ cities" and ~20 properties — flagged as a source conflict, likely reflecting different snapshot dates.
• The company has also launched "Aurus," a premium "Build to Suit" luxury sub-brand for expansion.
• Reportedly bootstrapped and profitable prior to its first external funding round in 2024.
• Sources: thehivehostels.com (official site), Tofler, TheCompanyCheck, news aggregation via DuckDuckGo.

Sector & Classification

Hotels and Restaurants sector; NIC activity description "Room or unit accommodation services for students in student residences" (Source: Tofler). Actual business: operates as "The Hive Hostels" — premium student PG/hostel accommodation, with a newer premium sub-brand "Aurus".

Directors & Key Management

5 directors identified (Source: TheCompanyCheck for names/roles/dates; DINs for 4 of them from Tofler): - Bharat Agarwal — Managing Director, appointed 28 May 2019, DIN 08465466 - Siddharth Agarwal — Whole-Time Director, appointed 28 May 2019, DIN 08465467 - Vivekraj Rameshkumar Bagrecha — Director, appointed 26 Oct 2023, DIN 10366648 - Jay Kumar Shaw — Director, appointed 07 Mar 2025, DIN 09627535 - Neha Shukla — Additional Director, appointed 10 Oct 2025, DIN not obtained Confirmed via 2 independent sources (Tofler + TheCompanyCheck) for names/DINs of the first 4; Neha Shukla appears only on TheCompanyCheck (partial, unconfirmed DIN).

GST Registrations

Not obtained. Primary GSTIN could not be retrieved — knowyourgst, findgst.in and mastersindia.co individual-GSTIN/PAN lookups all 404'd for PAN AAICC1989K, and TheCompanyCheck gates GSTIN behind a premium paywall. Home state is inferable as Maharashtra from the registered address, but this is not a confirmed GSTIN record. Number of registrations and filing status: not obtained.

Financials

• FY2025, period ending Mar 2025, standalone entity-level, Colstay Limited, per TheCompanyCheck: Revenue ₹57.47 Cr (+42% YoY)
• Paid-up capital ₹1.13 Cr
• EBITDA +190% YoY, Net Profit +256.52% YoY, Net worth +561.4% YoY, only growth %, absolute figures locked behind Tofler Pro — not obtained. EPFO-reported employees: ~165.
• CONFLICT: A separately sourced press/aggregation summary, via DuckDuckGo, brand-level "The Hive Hostels" — not confirmed as this legal entity's standalone filing, cites "Current Revenue: ₹85 crore" and "Projected FY27 Revenue: ₹110 crore." This is materially higher than TheCompanyCheck's ₹57.47 Cr and could not be reconciled — likely reflects a different measurement basis, brand/group run-rate vs audited standalone financials, or a forward estimate, or a different reporting period.
• Flagged, not resolved.
• No source distinguished standalone vs consolidated explicitly
• Treat the ₹57.47 Cr TheCompanyCheck figure as the more reliable, registry-sourced, number and the ₹85 Cr/₹110 Cr figures as unconfirmed press estimates.

Funding History

• Maiden external funding round: approx. ₹11.5 Cr (~US$1.4M) raised in 2024, reportedly from Anchorage Capital, also referenced as "Anchorage Capital Fund/Group" in different mentions, — company was bootstrapped and profitable prior to this round, Source: DuckDuckGo-aggregated press summary; not independently verified against a primary filing or Tracxn round-name page, since Tracxn's own company page for this CIN could not be fetched — 404.
• Company reportedly planning to file a DRHP and target public listing by March/Q4 FY26.
• Status: partial/unconfirmed — single-source aggregation only.

Shareholding

• Not obtained.
• Shareholding pattern is gated behind premium access on both Tofler and TheCompanyCheck.
• Founders Bharat Agarwal and Siddharth Agarwal are named as directors/promoters but exact promoter/institutional/public split, and any equity stake held by the Anchorage Capital funding round, could not be confirmed.

Loans & Charges

• Open charges totaling ₹18.93 Cr, Source: TheCompanyCheck:
• Others, lender names not itemized on free tier: ₹15.36 Cr
• Recent charge registrations: ₹64 Lakh (07 Aug 2025), ₹2 Cr (11 Jun 2025), ₹5 Cr (21 Feb 2025), ₹1.07 77 Cr (01 Feb 2025)
• ICICI Bank also mentioned as a lender in one summary but not itemized with an amount — partial/unconfirmed for that specific line.
• Note per data-source conventions: "no charges" elsewhere would only mean no *open* charges, not none ever — here charges are explicitly open and itemized above.

Related Parties

• "Aurus" is referenced as a premium sub-brand/"Build to Suit" luxury housing line under the same operating group, but it is not confirmed whether this is a separate legal entity or simply a brand name operated within Colstay Limited itself — not obtained as a distinct registered group company.
• No other related-party or group-entity filings could be retrieved, shareholding/related-party notes are premium-gated on both aggregators, and no XBRL/annual-report PDF could be located.

Legal & Compliance

• One case found on Indian Kanoon: "Colstay Private Limited vs Lamrin Tech Skill University And Another" — Punjab & Haryana High Court, arbitration application ARB 483-2025 (O&M), decided 17 April 2026
• Colstay Private Limited was the applicant. Case has reportedly been cited 8 times in subsequent legal documents. No other litigation found.

Competitive Landscape

• India's PG/student-housing/co-living peers, rough scale tags:
• 1. Stanza Living — large/well-funded, 75,000+ beds across 23 cities, market leader tier
• 2. ZoloStays (Zolo) — large, multi-city presence, well-funded
• 3. Your-Space — mid-large, premium student housing
• 4. Colive — mid-size, students + working professionals
• 5. Settl — small-mid, co-living focus
• 6. Isthara — small-mid, PG/hostel focus
• Colstay/The Hive Hostels itself sits at a smaller/emerging scale, 5–10+ cities, ~19-20 properties, ₹57-85 Cr revenue range per conflicting sources, relative to Stanza Living and Zolo, but has recently raised its first external round and is positioning toward an IPO.

Frequently Asked Questions