Can Isprava make bespoke luxury villas at scale?

Isprava Group, a luxury real estate developer, is navigating the challenge of scaling its boutique, bespoke villa business. The company focuses on creating unique, historically-inspired homes for high-net-worth individuals.
Why it matters
It illustrates the business tension between maintaining exclusivity and achieving growth in the luxury real estate market.
When Dhimaan and Nibhrant Shah began building houses in Goa a decade ago, they were entering a market that had a fairly conventional idea of luxury: more marble, more glass, more square footage. But their own houses were meant to suggest something else. When we get on a video call, the brothers and Co-CEOs of Isprava Group recall how one of the first pieces of furniture they acquired for an Isprava house was not furniture at all. It was the façade of a dilapidated haveli in Gujarat. Dhimaan says they had the entire piece removed, restored in a warehouse and transported to Goa, where it became a large cabinet in a living and dining room.
“It was our second home,” he continues. “We had four employees, including the two of us.”
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