Below are the excerpts of the conversation between SILA and Insights Success. Throughout the interview, you will learn how one can enter the industry with limited experience, understand the gaps, give a fresh perspective, build a client base, and scale with arduous work.
Kindly brief us about the company.
SILA is a Real Estate Platform driven by an entrepreneurial spirit. Over the last few years, SILA has efficiently scaled to become one of the fastest-growing Real Estate Services companies in India, managing over 30 million sq. ft. of assets with over 7000 employees. SILA provides Facility Management, Project Management & Advisory, and Turnkey Interior Contracting to various sectors within Real Estate and has a diverse client base of large Corporates, Real Estate funds, Landowners and Developers.
In 2019, SILA ventured into Real Estate Development, with a Mumbai Metropolitan Region (MMR) focus. The Brownfield development strategy is to align with NBFCs/Funds and solution providers on situations within their portfolios. SILA’s development arm is currently developing 500,000 sq. ft. of Real Estate.
The Services and Development capability gives the platform the ability to provide in-depth analysis, strategy, and execution for Real Estate.
Please share with us the initial challenges that strengthened the current success of the brand.
We entered the Real Estate Services space a decade ago with limited experience in the industry and a handful of contacts. Through consistent hard work and a steep learning curve, we were able to scale SILA, growing at a 50+% CAGR since inception. To combat fragmented processes, we invested in technology solutions to streamline and analyze data.
Initially, as a new company, we also saw a challenge of attracting key talent; however, we have now developed, trained, and created leading positions for young talent to grow with the company.
Tell us about the services you provide through your venture.
SILA provides services to Enterprises and SMEs for finding, building-out and managing physical space. SILA provides Facility Management, Project Management & Advisory, and Turnkey Interior Contracting to various sectors within Real Estate. Our diverse clients include leading multinationals as well as many of India’s Fortune 500 across sectors, including Manufacturing, Retail, Hospitality, Financials, Commercial and Residential Real Estate. Our diversified client portfolio, service offerings and execution capabilities have allowed us to be one of the leading full-service Real Estate platforms today.
Please share some success stories, awards and accolades that the company has received.
In 2019, after nine years of operations, SILA tracked robust financial and operating metrics with revenue growing over 50% per annum over the last few years at scale. SILA also secured an investment from US-based private equity firm Norwest Venture Partners.
Founders Sahil and Rushabh Vora were listed in Entrepreneur Magazine’s ‘35 under 35’ in 2018.
What makes SILA a unique player in this field? Kindly explain us your advantages/ distinctive features over your peers.
With a strong leadership team and through its thorough focus and investments in technology and SOPs, SILA executes with a differentiated approach. SILA’s focus lies in acquiring top talent and driving innovation within the services industry. We entered Real Estate a decade ago when the industry was unorganized, so it was a challenge to understand the gaps and provide solutions that would add value. Since we had no background in the space, we came in with a unique perspective that worked to our advantage.
What are the benefits gained by your clients while doing business with you?
A successful business relationship is built on trust, transparency and mutual respect. We bring our values to every interaction with our clients and make sure to view every customer as a business partner. Through our values and expertise in the business, our clients gain an insight into the business without the pressure of a hard sales pitch.
Advice for the budding entrepreneurs who are trying to embark in the same field.
To any entrepreneurs looking to enter the industry, we would advise them to put in the work and be patient. Like any business, build relationships and hustle to get off the ground. Know your numbers inside out and be realistic about the viability of the business. Never be afraid to ask questions and seek advice; every successful businessman once started at the bottom and will happily share their learnings when asked.
Brief us about the future of SILA.
To supplement its services division, in 2019, SILA ventured into Real Estate development, with a Mumbai Metropolitan Region (MMR) focus. The Brownfield development strategy is to align with NBFCs/Funds and solution providers on situations within their portfolios. SILA’s development arm is currently developing 500,000 sq. ft. of Real Estate.
In order to make all our services more community-based, SILA has launched its engagement platform, SILA Engage, which is a 360-degree experiential platform that looks at three facets: wellness, skill-building, and celebrations.
Meet the Founders
After working at George Weiss Associates, a $3 billion hedge fund in New York, Sahil Vora moved back to India to pursue his passion for entrepreneurship. Along with his younger brother Rushabh, they started SILA to explore opportunities in the Indian Real Estate sector.
Sahil and Rushabh have been able to create a niche in an unorganized Facility Management industry and approach the space with a unique outlook. Their leadership capabilities and track record over the last few years led them to be named in Entrepreneur Magazine’s ‘35 under 35’ list in 2018.
