Isprava Funding, Investors & Competitors

Isprava has raised $150M across 2 funding rounds, most recently a $20M undisclosed-stage round in January 2023.

Last Isprava funding round

$20M

Undisclosed stage · Jan 2023

Cumulative funding Isprava raised

$150M

across 2 funding rounds

Key investors in Isprava

  • Burman Family Holdings
  • Godrej family office
  • Symphony Intl Hldgs

Isprava Overview

About Isprava

Isprava is a Goa-based real estate developer constructing luxury villas and resorts in India with in-house architecture and engineering. The firm delivered 150 bespoke homes in the Sahyadri mountains using passive cooling and local stone. Founded in 2010, Isprava manages 500 acres of eco-luxury projects priced from $500,000.


Founded

2013

HQ

IndiaMumbai

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Isprava Funding History

Isprava has raised a total of $150M across 2 funding rounds.

Isprava's first fundraising round was a $130M undisclosed-stage round in April 2022. The most recent completed round was a $20M undisclosed-stage round in January 2023.

Isprava funding rounds

Isprava funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2023Undisclosed stageSymphony Intl Hldgs (lead)$20MIsprava Vesta Pvt. Ltd., operating as Isprava Group, is a luxury home developer focused on second homes in non-urban Indian locations like Goa, Alibaug, Kasauli, and the Nilgiris, alongside its Lohono Stays venture for luxury homestay rentals in India and Southeast Asia. Founded in 2017 by Nibhrant Shah, Dhimaan Shah, and Rohan Lamba, the company had created over 160 homes with 270 under construction by early 2023 and reported 104% year-on-year growth since 2017-18. In January 2023, it closed a funding round led by Symphony International Holdings Limited, raising INR 2 billion (approximately $19-24 million USD equivalent) in total, including a second tranche of INR 1 billion, with the transaction announced around January 19-20, 2023. Some sources reference INR 160 crore or $12.3M for parts of the round. The funds were allocated for expansion, including land acquisition for new projects, general corporate purposes, and growth of Lohono Stays. Symphony, an Asia-focused investor in healthcare, hospitality, lifestyle, logistics, and education, participated as the lead, recognizing Isprava's positioning in the growing demand for luxury non-urban homes among India's affluent population. Isprava has raised cumulatively around $147-188 million across multiple rounds from investors including Symphony, Godrej Family Office, Burman Family Holdings, Anand Piramal, and Taparia Family. Post-2023 developments include INR 160 crore debt from Symphony, INR 250 crore debt via compulsory convertible debentures from Luxe Opco Holdings in 2025, and a planned Rs 850 crore ($100M) equity investment from Alta Capital for a minority stake to fuel further expansion in vacation destinations.
Apr 2022Undisclosed stageGodrej family office; Burman Family Holdings$130MIsprava Group is India's leading luxury home developer specializing in premium second homes in non-urban leisure destinations. The company operates through two brands: Isprava, which develops luxury villas across Goa, Alibaug, the Nilgiris, and Kasauli; and Lohono Stays, a luxury homestay and hospitality business with properties across India and Southeast Asia. Founded by Nibhrant Shah, Dhimaan Shah, and Rohan Lamba, the company has delivered over 400 homes with approximately 850-900 under construction as of recent reports. Isprava Group raised capital from prominent family offices including the Nadir Godrej Family Office, Burman Family Office (associated with Dabur India), and others in an early fundraising round. The company subsequently received significant later-stage funding, including a Rs 850 crore (USD 100 million) investment from Alta Capital for a minority stake, and a Rs 250 crore debt round from Luxe Opco Holdings in November 2025, demonstrating sustained investor confidence in the luxury real estate sector.

Who has invested in Isprava?

3 investors have backed Isprava across its funding rounds, including Burman Family Holdings, Godrej family office and Symphony Intl Hldgs.

Lead investors include Symphony Intl Hldgs.


Isprava Investors

Investors in Isprava by funding rounds participated
InvestorHQRoundsRoleFirst check
Symphony Intl HldgsMauritiusMauritius1LeadJan 2023

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Isprava Competitors

Isprava competitors include listed companies like Vingroup, Samsung C&T, Sun Hung Kai Properties and D.R. Horton, and private ones like Maple Leaf Sports & Entertainment and Hive Box.

Public and private companies comparable to Isprava
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
VingroupVietnamVietnamPublicly listed$13B$3.1B$70B5.0x
Samsung C&TSouth KoreaSouth KoreaPublicly listed$30B$3.8B$42B1.4x
Sun Hung Kai PropertiesHong KongHong KongPublicly listed$10B$4B$40B4.2x
D.R. HortonUnited StatesUnited StatesPublicly listed$34B$4.7B$39B1.4x
Maple Leaf Sports & EntertainmentCanadaTorontoPrivate--$15B-
Hive BoxChinaShenzhenPrivate--$3B-
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Vingroup$13B$3.1B6.2x5.0x25.8x37.1x
Samsung C&T$30B$3.8B1.5x1.4x11.9x13.2x
Sun Hung Kai Properties$10B$4B4.8x4.2x12.4x12.4x
D.R. Horton$34B$4.7B1.3x1.4x9.5x10.4x
Goodman Group$1.8B-21.7x16.9x-20.0x
Emaar Properties$13B$6.9B2.0x1.9x3.9x4.0x
Mitsubishi Estate$11B$3.3B4.0x3.8x13.6x15.2x
China State Construction Engineering$310B$15B0.5x0.5x10.8x10.9x

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Common questions about Isprava

When was Isprava founded?Isprava was founded in 2013.
Where is Isprava headquartered?Isprava is headquartered in Mumbai, India.
Is Isprava publicly listed?No, Isprava is a private, VC-backed company.
How much funding has Isprava raised?Isprava has raised $150M across 2 funding rounds.
What was Isprava's last funding round?Isprava's last funding round was a $20M undisclosed-stage round in January 2023, led by Symphony Intl Hldgs.
Who are Isprava's investors?Isprava's investors include Symphony Intl Hldgs, Godrej family office and Burman Family Holdings.
Which companies are comparable to Isprava?Companies comparable to Isprava include Vingroup, Samsung C&T, Sun Hung Kai Properties, D.R. Horton, Maple Leaf Sports & Entertainment and Hive Box.

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