With the new investment and internal accruals, SILA plans to invest Rs 500 crore in land and new project acquisitions over the next two years. The investment will focus on luxury residential projects in South Mumbai and Alibaug, alongside commercial developments in central Mumbai and emerging secondary business districts across the city.
The strengthened capital base is also expected to help SILA attract additional institutional capital through asset-level partnerships and dedicated investment platforms.
Since entering real estate development in 2019, SILA has expanded its portfolio to more than 1.5 million sq. ft. under development, with a gross development value (GDV) exceeding Rs 3,000 crore.
SILA Properties draws on the experience and operational insights of the group's business services arm, SILA Services, which manages more than 450 million sq. ft. of real estate and has advised on transactions worth over Rs 25,000 crore.
Sahil Vora, Founder, SILA, said, "We are excited to partner with Norwest again. 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."
Shiv Chaudhary, Managing Director, Norwest, said, “Our investment in SILA represents a natural next step in our partnership as they enter a new phase of growth. No one is better positioned for the long-term opportunity that the Mumbai Metropolitan Region has to offer as one of India’s most compelling real estate markets.”
