Mumbai: Mumbai based Sila Solutions, a Real Estate platform, is optimistic about the next few years for Mumbai Residential Real Estate Development – riding on the strong sales of over Rs. 125 crores in their first year.

Sila’s Development arm is currently constructing over 500,00 sqft across two projects in the Mumbai Metropolitan Region, one in Opera House area and the other in Alibaug. The company is also in diligence on couple more Mumbai assets, which are expected to close in 2021.

“On the back of few tough years for Residential Real Estate, we see great opportunities to build a strong Real Estate development brand in Mumbai. We believe that Real Estate Development is a regional business and Mumbai, our home market, offer us the scale to focus here. Our strategy over the next couple years, will be to provide last mile finance and development capabilities to projects in NBFC portfolios that need problem-solving.” said Sahil Vora, Founder, Sila Solutions

Sila, which started its operations as a Facilities Management a decade ago, added a Project Management/Advisory division in 2015, and ventured into Real Estate Development in 2019. The company is a unique case study in Indian Real Estate, where they have organically built in-house expertise in multiple service areas within Real Estate, at scale. Sila Solutions currently operates in over 75 cities across India, managing over 60 million square feet across Residential, Commercial, Industrial, Retail and Hospitality assets.

 “Our team is motivated to deliver what we promise; from marketing collateral to completion. As much as tracking sales is important, we pay equal attention to the amount of concrete we pour in a month. The culture of strong execution focus is what we want to build from inception.” added Rishabh Vora, Co-Founder, Sila Solutions.

Last year, Sila’s Real Estate Services arm, raised Rs. 56 crore of growth capital from the US-based leading venture and growth equity investment firm, Norwest Venture Partners. Since inception, Sila Solutions has tracked robust financial and operating metrics with a CAGR of over 50%.