Isprava Group, the parent company of Isprava and Lohono Stays, has raised Rs 160 crore (approx. $20 million) from Asia-focused investment firm Symphony International Holdings Ltd.
The company plans to use the raised capital to increase its presence across India and other key countries and develop and broaden the current brand portfolio, technology and product development while strengthening strategic alliances to promote growth.
Founded by Nibhrant Shah, Dhimaan Shah, and Rohan Lamba, The Isprava Group is India’s leading non-urban luxury home developer. In six years, Isprava claims that it has delivered over 160 homes, with an additional 270 homes under various stages of construction in locations such as Goa, Alibaug, Kasauli and the Nilgiris.
Symphony International Holdings Limited is a London-listed, strategic investment company & its Investment Manager, Symphony Asia, is based in Singapore. The team at Symphony has made major investments in some of the leading branded real estate and hospitality companies globally. They were founder investors in Aman Resorts and the Minor Group which now includes brands like Anantara, and Avani, amongst others.
Sharing his thoughts on the new partnership, Anil Thadani, Chairman of Symphony Asia, said, “Isprava and Lohono Stays have led the effort to create a huge market for luxury homes and holiday rental properties in India. With the clear trend of aspirational lifestyle choices amongst the increasingly affluent population, the Isprava Group is perfectly positioned to meet this growing demand for non-urban luxury homes. We are delighted to partner with Isprava and to assist in any way we can to take the business to greater heights.”
Nibhrant Shah, Co-founder and CEO of Isprava Group, said, “Isprava and Lohono Stays have both witnessed exponential growth in the last few years. We have grown 104% y-o-y since 2017-18. Symphony’s experience in building remarkable companies will help us further delight customers and build world-class brands.”
Dhimaan Shah, Co-founder and COO of Isprava Group, said, “The demand for luxury homes in non-urban locations has grown manifold in the past three years. Consumers have realized and acted upon the need to own luxury homes in non-urban locations so that their families can lead cleaner and better lives. As the number of Indian HNIs grows, both Isprava and Lohono Stays will further cement their leadership position by fulfilling this massive demand. We are very excited to partner with Symphony to grow the business immensely and double down on our DNA of timeless, unmatched luxury in real estate and hospitality.”
Rohan Lamba, Co-founder and Director of Isprava Group, further added, “We are delighted to partner with Symphony at such a crucial phase of Isprava’s growth. It truly is a game-changing event towards our journey of making Isprava & Lohono the ultimate brand for luxury homes and hospitality in India. We look forward to building a world-class business along with Symphony in the years to come.”
Source @Indianstartupnews
