What Got this Luxury-builder into Entrepreneur India's 35under35 List Here's how this entrepreneur is building affordable holiday homes for Indians
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Blender's Pride Reserve Collection presents Entrepreneur's 35U35 list included some path-breaking names from the field of entrepreneurship and Isprava founder Nibhrant Shah made it to the list for enabling aspiring entrepreneurs to have an online presence.
About five years ago, luxury living on the top of the hills or at a beach house was a dream for many. But, not anymore! Mumbai-based Nibhrant Shah tapped an opportunity in India's real estate market and single-handedly started Isprava Homes in October 2013, which offers people their dream vacation homes.
From celebrities to industrialists to superstars and sports icons, Isprava has built an illustrious presence with 110 homes and 9,000 rental guest houses in a span of five years.
Why isprava
The company has also lured Indian HNIs and UHNIs in the real estate market to raise funds. It has so far been invested in by the Godrej Family, Piramal family office and other top industrialists and professionals from Deutsche Bank, UBS and others from across the globe. "We have raised in total capital of over Rs 150 crore, this includes both Project Level and Company Level funding," says Shah. The company attained breakeven early, in its five-year journey.
Since April 2017, the company has sold close to 120-130 homes. "We are aiming at higher targets for 2019, said Shah. When asked how the market in India is responding to the idea of buying holiday homes, Shah quipped, "There is definitely a high-end market for buying holiday homes coupled with huge demand. The demand is mainly fuelled by people wanting to escape the hustle and bustle of metro cities and spend time in the laps of nature and also, the young adults in their 20s and 30s who frequently go out on vacations.
From an Investment Banker to Entrepreneur
After quitting the job of an investment banker in London, Shah moved back to India in the quest of starting a business. He tried his luck with a number of startups and eventually cashed in on an idea of opening an accounting firm called, "Themis'.
About three years ago, when Shah was away from his hometown Mumbai on a Goa vacation, he saw how more and more people were enthused with the idea of buying vacation homes. He saw it as the opportune moment and without delay, decided to start a company that can offer people their dream vacation homes.
"Isprava started out of two things, one was catering to the people's desire of buying vacation homes. Second was to augment the entire home buying experience in India," said Shah.
(This article appears in the February 2019 issue of Entrepreneur Magazine. To subscribe, click here. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)
