Jupiter Hospitals acquires land for new hospital in Thane, Maharashtra with ₹400 cr capex plans

Jupiter Life Line Hospitals Ltd. (Jupiter Hospitals) on Monday announced the purchase of a land parcel in Ghodbundar, Mira Road, District Thane, measuring approximately 8,433 square meters. The company plans to establish a new hospital facility on this site, aimed at expanding its healthcare services.

The acquisition aligns with the hospital chains' strategic growth objectives, with plans to add 300 beds to its operational capacity. The project is expected to be completed over four years, with an estimated capital expenditure of ₹400 crores. The funding for the land purchase has been covered through internal accruals, while financing for the hospital construction will be determined based on future approvals and plans, the company said in a statement.

"The company along with its subsidiary has an existing total operation 1061 beds as on 1st January, 2025. This proposed hospital will serve the neighbouring community of Dahisar, Mira Bhayandar and Vasai Virar Municipal regions which are currently underserved," Jupiter Hospitals added.

Earlier this year, CEO Ankit Thakker had indicated that the company is on track to double its bed capacity over the next three to five years, which is expected to also more than double its revenues during the same period.

"Over the next three to five years, as the new hospitals become operational and capacity doubles, revenues will also double. We have about 1,000 beds under construction already, 500 in MMR in Palava region, 500 more in Pune, and we are looking at some more western India opportunity,” Thakkar said.

He highlighted the addition of 17 beds at the Indore hospital, taking the total operational capacity to 1,061 beds as of January 1, 2025.

On Monday, shares of Jupiter Hospitals ended 0.3% higher at ₹1,519.95 after the announcement on the new land acquisition.

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