Fortis plans Rs 13 billion capex for hospital expansion

29 May 2024 CW Team

Fortis Healthcare is planning to invest up to Rs 13 billion in expanding capacities at existing hospitals over the next few years. The healthcare provider aims to add around 2,200 beds during this period.

The CFO of Fortis Healthcare, Vivek Goyal, mentioned in an analyst call that some of the capital expenditure had already been incurred in the addition of bed capacity. He further stated that additional capital expenditure, including equipment costs, would be approximately Rs 12 billion to Rs 13 billion. Goyal noted that the healthcare provider was seeking to increase bed capacity at various existing facilities, including hospitals in Faridabad and Anandpur Sahib. Regarding Faridabad, he mentioned that there was available space for expansion, and plans were in place to do so. For Anandpur, he explained that a company with a different land parcel had been acquired, and there were intentions to operationalize it. After expanding the bed capacity by 100 beds, they planned to add another 50 beds in the following financial year.

Additionally, Goyal stated that Fortis was constructing another tower adjacent to the Shalimar Bagh facility, which would provide over 200 beds. He clarified that this expansion was already accounted for in the overall plan to add 2,200 beds. The healthcare provider anticipated commencing its Manesar facility by the second quarter of the current financial year, initially opening 100 beds.

Fortis Healthcare also received approvals to add 100 beds at a facility in Kolkata. Furthermore, they were expecting the occupancy certificate for the Bengaluru facility (BG Road) by the end of the second quarter of the fiscal year.

Currently, Fortis Healthcare operates over 4,500 beds across 28 hospitals in the country.

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