The Indian real estate industry, known for its resilience and adaptability, has been experiencing a transformation in recent years. As the sector matures and faces new challenges, companies like SILA have risen to the occasion, offering innovative solutions to cater to evolving market dynamics. Founded in 2010 by Sahil Vora, with the aim of capitalizing on the growing Indian real estate market. Over time, it expanded its scope to encompass Real Estate Services, including Facility Management, Contracting Solutions, and Real Estate Advisory.
In a recent interview with Sahil Vora, he shed light on SILA's journey, the comprehensive services it provided, and its role in the Indian real estate sector, offering valuable insights into the industry's past state.
SILA and Its Clients
"SILA, founded in 2010 with a conviction that there was an opportunity in the fast-growing and scalable Indian Real Estate market. As SILA gained momentum, it evolved into a comprehensive Real Estate platform. Our businesses include Real Estate Services which offer Facility Management, Contracting Solutions, and Real Estate Advisory. Our other businesses are Real Estate Development and Real Estate Asset Management. We have a diverse client base in various sectors which include large corporations, Real Estate Funds, Landowners and Developers," said Sahil Vora, Founder, SILA.
Current Real Estate Market Trends and SILA's Impact
The real estate market has undergone significant consolidation in recent years, with an increasing presence of organized and institutional players known for their corporate governance and brand reputation. SILA anticipates this trend to continue, reflecting the shift in modern homebuyers' preferences for reliability, transparency, and corporate responsibility.
Sahil Vora highlights that residential real estate investment dynamics have changed. While investor demand persists, it is no longer as robust as in the past. Mortgage rates and rental yields play a pivotal role, making it more attractive for end-users rather than pure investors. SILA aims to meet these evolving demands by prioritizing transparency and honest dealings, offering more than what is promised to buyers.
As one of the largest real estate services companies in India, SILA's strength lies in its in-house operating capability, reinforcing the trust and security that clients seek.
In-Depth Analysis, Strategy, and Execution
SILA's entry into the residential real estate development segment came as a response to the ILFS crisis in 2018. The company partnered with NBFCs to resolve stressed projects in their portfolios, focusing on the Mumbai Metropolitan Region (MMR). SILA seamlessly integrates its expertise in real estate services into development, emphasizing quality, aesthetics, and functionality in its projects.
Adaptability and a commitment to learning, driven by diverse stakeholder feedback, have fueled SILA's growth and solidified its understanding of the real estate landscape.
SILA operates across 125 cities in India, offering services in four key business verticals:
Facility Management: SILA's Facility Management team leverages technology, streamlined processes, and a skilled workforce to manage over 150 million square feet across diverse sectors. Their proprietary technology, SILA Connect, enhances service levels and operational efficiency.
Contracting Solutions: SILA provides turnkey contracting services for various developments, focusing on design management and build services.
Real Estate Advisory: This division offers a range of services, including budget management, quality assurance, and safety evaluation, and has facilitated over INR 16,000 crore in real estate transactions.
Real Estate Development: SILA's development platform focuses on creating exceptional residential projects, with a commitment to superior quality and craftsmanship.
SILA's future vision is to scale its existing businesses while capitalizing on synergies among them. The company prioritizes talent investment as a key driver of its growth in the ever-expanding real estate sector.
Adapting to Challenges Posed by the COVID-19 Pandemic
The pandemic prompted SILA to diversify its portfolio, focusing more on the industrial sector, which now accounts for a significant portion of its revenue. This strategic shift positions SILA for continued growth in the post-pandemic landscape.
Tailoring Services to Diverse Clientele
SILA places a strong emphasis on understanding each client's unique needs and requirements. They customize their services, provide tailored training to their staff, and adapt checklists of activities to ensure that clients' expectations are met effectively.