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Fortis lines up Rs 1,300 crore capex to expand existing hospitals

Hospitality and Healthcare  -  May 29,2024  - 

Fortis Healthcare is investing up to Rs 1,300 crore in expanding capacities at existing hospitals over the next few years, according to a senior company executive.The healthcare provider aims to add around 2,200 beds over the next few years.

"So, some of the capex has already been incurred in that (addition of bed capacity). "Additional capex will be somewhere around Rs 1,200 crore to Rs 1,300 crore, which includes equipment also, everything put together," Fortis Healthcare CFO Vivek Goyal said in an analyst call.

He noted that the healthcare provider is looking to add bed capacity at various existing facilities, including hospitals in Faridabad and Anandpur Sahib."At Faridabad, there is space available, and we have planned to further expand..In regard to Anandpur, we have acquired a company with a different land parcel.

So, we want to operationalise that also. Post expansion of these 100 beds, we will be adding maybe another 50 beds in the next financial year in that unit," Goyal said.At Shalimar Bagh, Fortis is building another tower in the adjacent plot and that should give us another 200-plus beds, he said.

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