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
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
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