SILA Raises INR 300 Cr from Norwest for Mumbai Real Estate Development
SILA raises INR 300 crore from Norwest at a INR 1,000 crore valuation to expand real estate development in Mumbai.
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SILA, a business services and real estate development platform founded by brothers Rushabh and Sahil Vora, has received a INR 300 crore investment from Norwest in SILA Properties, its real estate development business, at a valuation of INR 1,000 crore.
SILA plans to invest INR 500 crore in land and new project acquisitions over the next two years, across luxury residential projects in South Mumbai and Alibaug and commercial projects in central and secondary business districts across Mumbai.
Company says the stronger capital base also positions it to attract institutional capital through asset-level partnerships and dedicated investment platforms.
“Their last investment was an inflection point in the journey of our Services business; we hope this one will be the same for our Real Estate Development business. Our plan is to stay within the guardrails we have set for ourselves, be prudent in how we deploy capital, and scale this business steadily over the next few decades,” said Sahil Vora, Founder, SILA.
SILA, a business services and real estate development platform founded by brothers Rushabh and Sahil Vora, has received a INR 300 crore investment from Norwest in SILA Properties, its real estate development business, at a valuation of INR 1,000 crore.
SILA plans to invest INR 500 crore in land and new project acquisitions over the next two years, across luxury residential projects in South Mumbai and Alibaug and commercial projects in central and secondary business districts across Mumbai.
Company says the stronger capital base also positions it to attract institutional capital through asset-level partnerships and dedicated investment platforms.
“Their last investment was an inflection point in the journey of our Services business; we hope this one will be the same for our Real Estate Development business. Our plan is to stay within the guardrails we have set for ourselves, be prudent in how we deploy capital, and scale this business steadily over the next few decades,” said Sahil Vora, Founder, SILA.
