Global Health, the operator behind the renowned Medanta Hospitals, has announced a significant development in Mumbai’s healthcare landscape with the construction of a new super specialty hospital. The project, which involves an investment of INR 1,200 crore, will introduce a state-of-the-art facility featuring over 500 beds, aimed at delivering advanced medical care to residents of Mumbai and the surrounding regions.

The planned hospital will become the second-largest private healthcare facility in Mumbai, following the 750-bed Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute (KDAH). The new hospital’s construction will be financed through a combination of debt and internal accruals, covering both land acquisition and construction costs.

Ravi Gothwal, Head of Investor Relations at Medanta, highlighted the strategic importance of the location, noting, “Mumbai has been on our radar for many years, but securing the right land was a challenge. When this particular land parcel was put up for public auction by the government, we seized the opportunity to bid for it.”

The project is expected to take approximately 3-4 years to complete, pending customary and regulatory approvals. Upon its completion, the hospital will significantly enhance the city’s healthcare infrastructure, offering a broad range of specialized medical services.

Medanta has a strong reputation for developing large-scale healthcare facilities. Its portfolio includes a 1,140-bed hospital in Gurugram, a 699-bed hospital in Lucknow (with planned expansion to 950 beds), and a 376-bed hospital in Patna (with potential expansion to 650 beds).

In a recent strategic move, Medanta secured an 8,859 sq m land parcel in Oshiwara, Mumbai, from the Maharashtra Housing and Area Development Authority for INR 125.1 crore through a public auction, outbidding Jupiter Hospital based in Thane.

As of March 31, 2024, Medanta’s total capacity across its hospitals stood at 2,823 beds. The company has plans to add an additional 550 beds across its facilities in Gurugram, Lucknow, Patna, and Noida during the FY25 period.

Further expansion includes announcing a 400-bed hospital in South Delhi in collaboration with real estate developer DLF, a 300-bed facility in Indore with a real estate partner, and an additional 250-bed capacity in Noida.

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Medanta recently reported a net profit of INR 106.3 crore for Q1FY25, representing a 4.2% increase year-on-year. The company’s revenue saw an 11% YoY growth, reaching INR 883 crore, driven by higher patient volumes, increased bed occupancy, and improved service realizations.

Founded by Dr. Naresh Trehan, Medanta is a leading private multi-specialty tertiary care provider, primarily operating in the North and East regions of India, with a strong presence across over 30 medical specialties.

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