Primus Senior Living, one of the frontline developers and operators of retirement homes in India, is partnering three builders in Calcutta to launch multiple projects in and around the city.

The elder-care start-up, led by Adarsh Narahari, will offer 1,000 apartments in partnership with Srijan Realty, Merlin Group and Primarc, making it by far the largest operator of senior living facilities in the city.

“We are going to launch one project in every quarter for one year starting tomorrow. Cumulatively, we will have close to 1,000 units by March 26,” Narahari told The Telegraph.

Primus, which raised $20 million (₹170 crore) in November from a clutch of investors such as General Catalyst and Zerodha co-founder Nitin Kamath, will take a minority stake in each of the projects and also be the service providers to the elder care facilities.

Narahari described Calcutta as a large market which requires products and services like the ones Primus promises to deliver. “I am betting that the older generation, who are in love with Calcutta, would like to stay back and are willing to pay for services and convenience,” he said.

His pitch is that Primus is not just a real estate player trying to sell investment products but a lifestyle solution to age slower. The service part of the business is extended by ‘Marzi’, which promotes ‘active ageing’.

The Bangalore-based company is operating 500 homes, fully built and managed by it, in Bangalore. It is now developing another 4,500 units in six cities across India, including Calcutta, Mumbai, Pune, Hyderabad and Chennai. Of them, about 1,000 units will be fully developed by Primus, especially in Bangalore and Chennai, and it will take a stake in the rest of the projects.

“We will pump in ₹1500 crore in the ongoing projects, from the real estate platform,” he said. The resources will be a mix of equity, debt and internal generation.

Typically, Primus looks at developing a part of a large project instead of standalone ones. For instance, it will co-develop a 140-home segment with Srijan at the latter’s Royal Ganges at Batanagar. With Merlin, the company will develop a 350-home segment within Merlin Rise.

With a minority stake, Primus believes it can be involved from the construction stage to come up with tailor made homes for elderly people. The investment will also ensure that Primus remains an exclusive service provider.

As of now, Primus charges an amount for common area maintenance, housekeeping, medical and concierge and an additional money for food which is optional. The occupants must be above 55 years even as there is no bar on who can own an apartment.