Luxury Home Development Company Isprava Secures USD 130 Million From Nadir Godrej and The Burman Family Offices

Isprava Group, which manages Isprava and Lohono Stays, recently announced that it secured USD 130 million (about INR 987 crore) in an investment round headed by prominent family offices such Nadir Godrej and Burman.

According to the luxury real estate firm, the funding was obtained via a mix of corporate and project-level stock.

"In the past several years, both Isprava and Lohono Stays have seen exponential development. These funds will be used to delight our customers even more, grow both companies, and complete our technology stack.

We're delighted to continue growing both businesses and ensuring that their consumers continue to appreciate them "Nibhrant Shah, Co-Founder and CEO of Isprava Group, concurred.

Nibhrant Shah, Dhimaan Shah, and Rohan Lamba created the Isprava Group, which today runs two businesses: Isprava and Lohono Stays. 

Isprava is a non-urban developer of luxury homes.

It is now working on over 110 projects totaling $200 million in Goa, Alibaug, the Nilgiris, and Kasauli.

Lohono Stays is a premium homestay and hospitality firm with over 105 properties across 15 destinations in India and over 250 properties around Southeast Asia (Bali, Phuket, etc).

"Over the past few years, demand for premium real estate and unique experiences has increased tremendously among HNIs. Both Isprava and Lohono Stays have solidified their positions as market leaders in their respective businesses.

We anticipate that the market for both of these businesses will increase substantially in the next years, and we have laid a strong platform for both firms to continue growing tremendously over the next few years "Dhimaan Shah, Co-Founder and Chief Operating Officer of Isprava Group, said.

In 2018, the firm received Rs 21 crore (about $3.1 million) from the Godrej family office, Anand Piramal, the son of Ajay Piramal, a millionaire industrialist, and the Taparia family office.