Medanta to Enter Mumbai Market with ₹1,200 Crore Super Specialty Hospital

Global Health, operator of Medanta hospitals, is set to build a 500-bed super specialty hospital in Mumbai with an investment of ₹1,200 crore. The project, funded equally by debt and internal accruals, will be completed in 3-4 years.

MedantaMumbaiHospitalHealthcareInvestmentReal Estate MumbaiAug 09, 2024

Medanta to Enter Mumbai Market with ₹1,200 Crore Super Specialty Hospital
Real Estate Mumbai:Global Health, which operates the hospital chain Medanta, is all set to enter the Mumbai market with a proposed super specialty hospital of over 500 beds capacity at an investment of ₹1,200 crore. The ₹1,200-crore investment, which includes cost of land and construction, would be funded by debt and internal accruals in equal proportions.

The company said the hospital will have advanced treatment options for the residents of Mumbai and surrounding regions. Mumbai has been on our radar for many years, but getting suitable land was a challenge, since this land parcel came up for public auction by the government, we decided to bid for it, said Ravi Gothwal, head of investor relations at Medanta.

Once we get customary and regulatory approvals, it would take around 3-4 years to complete the project, Gothwal added. Once completed, the proposed hospital would be the second largest private hospital in Mumbai after the 750-bed Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute (KDAH).

Medanta typically builds large-format hospitals, its Gurugram hospital has 1,140 beds, Lucknow has 699 with a plan to expand it to 950, Patna has 376 with potential expansion to 650 beds. In July, Medanta acquired 8,859 square meters of land in Oshiwara in the western suburbs of Mumbai from Maharashtra Housing and Area Development Authority for ₹125.1 crores in a public auction.

The company has made the payment of ₹125.1 crore and is awaiting possession of the land. Medanta outbid Thane-based Jupiter Hospital to get the Mumbai land parcel. Medanta has a total capacity of 2,823 beds as on March 31, 2024. It plans to add 550 beds across Gurugram (50), Lucknow (50), Patna (150) and Noida (300) in FY25.

It also has plans for a 400-bed hospital in South Delhi in partnership with realtor DLF. In Indore it has announced 300-bed with a real estate partner with additional 250 bed capacity in Noida. Global Health, which operates Medanta, reported ₹106.3 crore net profit with year-on-year (YoY) growth of 4.2% in Q1FY25. The company's revenue rose 11% YoY to ₹883 crore in Q1FY25.

The company attributed the growth in net profit to higher patient volumes, increase in bed occupied days and improvement in realisations.

Information
Global Health, the operator of Medanta hospitals, is a leading healthcare provider in India. Medanta is a chain of super specialty hospitals that offers advanced medical treatment options to patients.

Medanta is a part of Global Health, a leading healthcare provider in India. Medanta has a total capacity of 2,823 beds as on March 31, 2024, and plans to add 550 beds across various locations in FY25.

Frequently Asked Questions

What is the investment amount for Medanta's new hospital in Mumbai?

₹1,200 crore

How many beds will the new hospital have?

Over 500 beds

What is the expected completion time for the project?

3-4 years

Who is the operator of Medanta hospitals?

Global Health

What is the total capacity of Medanta hospitals as on March 31, 2024?

2,823 beds

Related News Articles

The Unaffordable Truth: How Urban Real Estate is Pricing Out Education
real estate news

The Unaffordable Truth: How Urban Real Estate is Pricing Out Education

The rising cost of urban real estate is having a devastating impact on the affordability of education in India, according to Zoho CEO Sridhar Vembu.

August 18, 2024
Read Article
Maharashtra Government Mulls Further Concessions for Housing Registrations
Real Estate Mumbai

Maharashtra Government Mulls Further Concessions for Housing Registrations

Maharashtra's Housing Minister, Mr. Atul Save, proposed potential concessions in registration and stamp duty fees for real estate developers at the third edition of 'The Real Estate Forum 2024' in Mumbai.

September 1, 2024
Read Article
Government Reviews Real Estate Act Amid RERA Enforcement Challenges
Real Estate

Government Reviews Real Estate Act Amid RERA Enforcement Challenges

The Narendra Modi-led government plans to review the Real Estate (Regulation and Development) Act of 2016 due to issues faced by homebuyers and the inability of RERAs to enforce their orders effectively.

October 9, 2024
Read Article
Norton Rose Fulbright Aids Tikehau Capital in Acquiring Retail Real Estate from Casino Group
Real Estate

Norton Rose Fulbright Aids Tikehau Capital in Acquiring Retail Real Estate from Casino Group

The global law firm Norton Rose Fulbright supported Tikehau Capital in the acquisition of 26 retail real estate assets from the Casino Group, valued at over €200 million. The team was led by Antoine Colonna d’Istria, Kamel Ben Salah, and Jean-Pascal Bus,

October 18, 2024
Read Article
Maharashtra Elections: Voters Grapple with Primary Issues Amidst Hindutva Wave
Real Estate Maharashtra

Maharashtra Elections: Voters Grapple with Primary Issues Amidst Hindutva Wave

In a state where development and employment are top priorities, the Maharashtra elections are being fought largely on the Hindutva narrative, leaving voters with a difficult choice. This article explores the complex dynamics at play and the voter's unenvi

November 18, 2024
Read Article
Nithin Kamath Discusses the Impact of Pollution on Luxury Real Estate
Real Estate

Nithin Kamath Discusses the Impact of Pollution on Luxury Real Estate

Zerodha CEO Nithin Kamath highlights the growing pollution crisis in India and its significant impact on the luxury real estate market.

February 24, 2025
Read Article