MUMBAI : Indian business services platform SILA has raised $100 million from private equity firm Permira to accelerate its expansion, underscoring growing global investor interest in India’s tech-enabled services ecosystem.
MUMBAI : Indian business services platform SILA has raised $100 million from private equity firm Permira to accelerate its expansion, underscoring growing global investor interest in India’s tech-enabled services ecosystem.
The capital will help SILA strengthen its technology capabilities, expand into adjacent service lines and pursue growth opportunities across India, the companies said in a statement on Wednesday.
The capital will help SILA strengthen its technology capabilities, expand into adjacent service lines and pursue growth opportunities across India, the companies said in a statement on Wednesday.
The investment reflects growing optimism among global institutional investors around India’s business services spanning commercial, industrial, residential, and retail assets—representing what investors see as a compelling, multi-decade opportunity.
Valued at over $25 billion in 2024, the business software and services market is projected to grow at a 16% CAGR, reaching roughly $60 billion by 2030, as per online reports.
Global backing
SILA will leverage Permira’s four decades of experience and global expertise for its continued expansion across India through strengthening its technology capabilities, expanding adjacent service lines and pursuing growth opportunities.
“India is creating a new generation of globally relevant, tech-enabled services companies—and SILA is among the most compelling we’ve seen,” said Dipan Patel, co-managing partner and co-CEO at Permira.
“SILA has built a leading market position, supported by deep client relationships, a strong culture, disciplined execution and a critical focus on technology,” Permira’s head of Asia Siddharth Narayan added.
The fundraise comes months after SILA acquired smaller peer SMS Integrated Facility Services from private equity firm Samara Capital for an enterprise value of about ₹270 crore in February.
The acquisition marked SILA’s push to deepen its presence in integrated facility management.
Pan-India footprint
Founded by brothers Rushabh and Sahil Vora in 2009, SILA operates in more than 125 cities across India, managing over 450 million square feet of real estate with a workforce exceeding 60,000.
The company delivers integrated, tech-enabled services spanning facility management, material handling equipment leasing, food catering, and real estate advisory—serving large corporates, funds, and developers across the full asset lifecycle.
“Our focus is on leveraging technology to drive efficiency, transparency, and service quality at scale across India’s built environment,” the Vora brothers said in the statement on Wednesday.
Its real estate development arm, SILA Estates, is currently developing over 1 million square feet of premium residential and commercial projects across Mumbai.
Financial performance
In FY25, the company reported operating revenue of about ₹913.9 crore, up from ₹713 crore a year earlier. Profits widened to ₹11.5 crore compared to ₹9.1 crore in FY24, according to an Icra report.
Norwest Venture Partners first acquired a stake in SILA in August 2019 and has invested around ₹110–120 crore in the company over the years. It is the largest shareholder in SSPL, holding a 45.92% stake as on 31 March, 2025, according to ICRA.
Global private equity firm Permira has backed hundreds of businesses worldwide across multiple cycles. The firm focuses on four key sectors—technology, consumer, healthcare and services.
Historically, it has backed companies such as Acuity Analytics, Kroll, Clearwater Analytics, Evelyn Partners, Hugo Boss, Valentino, Golden Goose, Zendesk, McAfee, Mimecast, Informatica, Genesys, Teraco, Urban Company, Adevinta and Squarespace.