Sila, a home-grown business services and real-estate development platform founded by brothers Rushabh and Sahil Vora, has raised Rs 300 crore (around $32 million) investment from Norwest for its realty arm, the company said in a statement.
Since entering real-estate development in 2019, Sila Properties, the group's real-estate arm, has grown to over 1.5 million sqft under development with a gross development value of over Rs 3,000 crore, the company said in the statement.
Its business-services arm Sila Services manages more than 450 million sqft and has advised on over Rs 25,000 crore of real-estate transactions.
Sila plans to invest Rs 500 crore in land and new project acquisition over the next two years, across luxury residential projects in South Mumbai and Alibaug, and commercial projects in central and upcoming secondary business districts across Mumbai, as per the statement.
With the capital infusion, Sila also hopes to attract additional institutional capital through asset-level partnerships and dedicated investment platforms.
"Their (Norwest's) 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,” said Sahil Vora, founder, Sila.
“No one is better positioned (than Sila) for the long-term opportunity that the Mumbai Metropolitan Region has to offer as one of India’s most compelling real estate markets,” said Shiv Chaudhary, managing director, Norwest.
Sila Properties focusses on residential & commercial developments across the Mumbai Metropolitan Region.
Sila Services, which provides integrated facility management, real estate advisory, food services and material handling equipment solutions, raised Rs 1,000 crore from Permira and family offices associated with Godrej, JSW, Lodha and Sattva in April 2026. Earlier investors include Norwest, the Piramal family office and former India cricket captain MS Dhoni.
Norwest is a global venture and growth equity investment firm managing more than $15.5 billion in capital. Since its inception, Norwest has invested in more than 700 companies. Some of the firm's most notable investments in India include Swiggy, Regency Health, Amagi, Infinx, and Veritas Finance.