A real estate platform, SILA, has acquired Forbes Facility Services from the Shapoorji Pallonji Group in an all-cash contract.
With this purchase, SILA's facilities management services business will boost its presence in North India and broaden its service offerings, including catering. SILA co-founder & CEO Rushabh Vora told the media that this contract would also support expanding our portfolio within the high-growth sectors of Industrial, Manufacturing & Warehousing across India. The combined entity is anticipated to clock over Rs 600 crore in revenue this year and will be handling over 100 million sq ft of real estate, with over 15,000 employees across India, the company said. The firm has been a Shapoorji Pallonji group which provided a rich background of policies, lineage, and support. With this agreement, the company now looks forward to collaborating with SILA, a progressive company that has risen rapidly, said Vinay Deshmukh, CEO of Forbes Facilities Services. Over the last decade, SILA has increased at a compound annual growth rate (CAGR) of over 60%. SILA is confident of keeping a high-growth rate through organic and inorganic opportunities such as the agreement with Forbes facilities management. SILA, a real estate platform initiated in 2010, is backed by Norwest Venture Partners and Samara Capital Group in their real estate services and development and asset management arms, respectively. SILA has advised on over $1.5 billion of real estate transactions for large global and domestic budgets and served as development manager for projects with a gross development value of over Rs 15 billion in the Mumbai Metropolitan Region (MMR). Image Source
