Indeed it is the Hyperion-1, presented last year at the Delhi Auto Expo by Motormind Automotive Designs, based in Bangalore. It's powered by a V6 from a Hyundai Sonata, mounted at the rear. Apparently they are planning to build several units as track cars, and also want to develop an electric version. Sounds a bit overambitious but it would be a great feat if they can pull it off.
On one hand, I found it just by googling "Indian sports car" when I was researching another puzzle, so that's why I said it was not hard to find; on the other, it's true that many Indian and Asian concept cars like this often receive little attention from Western media/websites.
