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Dravyasamgraha
constitute the world or Loka they have the space quality, hence they are kāyas. Astikāya then implies existential nature as well as space quality.
Chakravarti Nayanar, A., Acārya Kundakunda's Pañcāstikāya-Sāra, p. 3.
Existence (asti) and space quality (kāya), together, make an astikāya 'Astikāya' consists of two words, 'Asti' and 'Kāya’. Asti’ literally means exists. Now, the five kinds of substances, viz., Jīva, Pudgala, Dharma, Adharma and Akāśa always exist, hence, while mentioning any of these, one might say, “it exists.” Again each of these substances has many Pradeśas, like bodies. Hence each of these might also be said to be “Kāya' (literally, body). These two characteristics being combined, each of the aforesaid five substances are named 'Astikāya' or 'that which exists and has different Pradeśas like a body'. It should be remembered that to be an Astikāya, a substance must have both these characteristics. The substance Kāla (Time), though having the first characteristic (viz. existence), is not called Astikāya, because it does not have many Pradeśas.
Ghoshal, Sarat Chandra, Dravya-Samgraha, p. 45.
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