Overview of SILA
Driven by an entrepreneurial spirit, SILA has emerged as a leading force in the Real Estate industry, offering a comprehensive suite of services encompassing Real Estate Services, Development, and Asset Management.
With strategic partnerships with renowned investors like Norwest Venture Partners and Samara Capital Group, SILA has established a strong presence across 125 cities, with offices in key Indian urban centers.
SILA’s Facility Management team stands at the forefront, seamlessly blending technology, streamlined processes, and a highly skilled workforce to deliver unparalleled Real Estate management solutions.
Managing an extensive portfolio of over 150 million square feet across diverse sectors, SILA has an impressive client roster that includes multiple Fortune 500 companies.
The backbone of their success lies in SILA Connect, their proprietary technology system, which revolutionizes Facility Management, enhances service levels and drives operational efficiency to new heights.
Recognizing the evolving demands of the industry, SILA has strategically developed robust capabilities in Contracting Solutions.
Leveraging their expertise in project management, SILA offers turnkey contracting services for commercial offices, restaurants, hotels, and residential developments across India.
Their focus on design management and build services has propelled SILA’s growth in this sector, solidifying their reputation as an industry leader.
SILA’s Advisory division acts as a trusted partner, providing an end-to-end suite of services that encompass budget management, quality assurance, and safety evaluation.
With an impressive track record of facilitating over INR 16,000 crore in Indian real estate transactions for global and domestic funds, SILA’s Advisory arm has earned the trust of capital providers.
Their meticulous approach ensures that they seamlessly deliver services such as pre-investment diligence and post-investment monitoring, offering a solid foundation for Real Estate investments.
Building upon a decade of experience in Real Estate services and operations, SILA has honed its expertise in project planning and execution.
Bolstered by their strong finance background, SILA has created a robust Real Estate Development platform.
Their strategic focus on the vibrant Mumbai Metropolitan Region (MMR) has led to the construction of exceptional residential projects spanning over 500,000 square feet, with a Gross Development Value exceeding INR 1500 crores. SILA’s commitment focuses on delivering superior quality and unmatched craftsmanship.
SILA’s growth focus
SILA’s commitment to excellence has attracted a diverse client base that spans various sectors of the Real Estate industry.
From commercial and residential to industrial, hospitality, and retail, SILA serves clients across the entire spectrum. With over 400 clients and a 95% retention rate, SILA’s track record speaks for itself.
The COVID-19 pandemic prompted SILA to adapt and diversify its portfolio, ensuring resilience in the face of unprecedented challenges.
Before the pandemic, SILA’s Facility Management (FM) division focused primarily on commercial and IT clients, while manufacturing accounted for a modest percentage.
However, the post-COVID landscape shows a significant transformation, with the industrial sector now accounting for nearly 40% of SILA’s revenue streams.
SILA’s proactive approach to risk management and strategic diversification positions them for continued growth in the years to come.
The company has projected a substantial revenue growth to approximately INR 800 crore in the fiscal year 2024, with a compounded annual growth rate (CAGR) of over 50% in revenues and EBITDA over the past three years.
SILA’s growth is not solely attributed to their service excellence but also their innovative use of technology and commitment to fostering a strong community.
SILA Connect, their cutting-edge proprietary system, serves as the backbone of their operations, enhancing service levels and efficiency.
In addition, SILA recognizes the importance of community engagement and the positive impact it has on their clients.
Through a series of initiatives and events, SILA creates valuable opportunities for clients to connect, collaborate, and achieve their environmental, social, and governance (ESG) goals.
Initiatives such as Tree Plantations, Plastic Free July, and workshops on Wellness, Fitness, Diversity, and Inclusion foster a sense of belonging and collaboration within the SILA community, which in turn helps generate value for all stakeholders involved.
A great example would be in 2021, when SILA partnered with Bisleri for the Bottles for Change initiative where the goal was to reuse plastic bottles by channelizing used plastic for recycling, which has reduced the amount of plastic waste.
Real Estate Development
In the aftermath of the ILFS crisis in 2018, the real estate industry faced unprecedented challenges. The company saw an opportunity to get into residential Real Estate development by partnering with NBFCs to solve stress projects in their portfolio.
SILA believes Real Estate is an extremely regional business and made the strategic decision to focus on their home market – the Mumbai Metropolitan Region (MMR).
Their Real Estate projects represent SILA’s commitment to creating exceptional living spaces that harmoniously blend quality, aesthetics, and functionality.
SILA seamlessly integrates their extensive expertise in Real Estate services into their development business.
The key ingredient behind SILA’s growth lies in their unwavering commitment to learning and adapting, derived from invaluable feedback from diverse stakeholders.
Their exposure to a wide array of sectors and clients has provided the company with a profound understanding of the intricacies within the realm of Real Estate.
Journey & Future
SILA was started by brothers Sahil & Rushabh Vora, who were born and brought up in Mumbai. After working at George Weiss Associates, a $3 billion hedge fund in New York, Sahil moved back to India to pursue his passion for entrepreneurship.
Along with his younger brother Rushabh, they decided to explore opportunities in the Indian Real Estate sector. Rushabh holds an MBA from INSEAD, France; and a BA in Economics and Chinese from Trinity College, USA.
Both brothers are avid squash players and were both captain of the Trinity College Men’s squash team, which won multiple U.S. National championships. They are currently ranked number 1 and 2 in India in the over-35 category.
Since its establishment in 2010, SILA has diligently focused on delivering value-added experiences in every interaction, laying a solid foundation for their growth story.
Initially bootstrapped, SILA prioritized profitability before seeking capital infusion from institutional investors like Norwest Venture Partners and Samara Capital.
Their capital-raising endeavours have been ROE- focused, targeting inorganic opportunities that amplify their scale.
Notably, SILA strategically acquired Forbes Facilities Services from the Shapoorji Pallonji Group in July 2022.
By retaining the existing team and leveraging their expertise and resources, SILA successfully turned the business around, setting it on a path to profitability.
With FFS projected to achieve approximately INR 15 crore of EBITDA in the fiscal year 2024 and anticipating over 40% revenue growth, SILA’s strategic plan is poised to yield robust results.
Looking ahead, SILA has ambitious plans for its real estate platform and related services. The company aims to further expand its presence in the Indian real estate market, building upon its success and leveraging its strong foundation.
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SILA’s commitment to sustained profitability, unwavering determination, and ability to adapt to changing industry dynamics ensure that they will continue to scale in the competitive landscape of the Real Estate industry.