Jupiter said the purchase of land is made through internal accruals, in a statement to stock exchanges.
Jupiter said the proposed hospital will be built over the course of 4 years, and will serve the neighboring community of Dahisar, Mira Bhayandar and Vasai Virar Municipal regions which are currently underserved.
Jupiter along with its subsidiary has 1061 beds under operation as on January 1, 2025, the hospital chain is looking to more than double its capacity to 2500 beds in next 4 years. The company has lined up a sizable capex plan of Rs. 300 crore each in FY2025 and FY2026, this doesn’t include its proposed Ghodbunder-Mira Road hospital.
The Dombivli hospital will be of total 500 beds, of which Jupiter has invested around ₹120-125 crore in initial expenses and plans to spend an additional ₹200-250 crore in the first phase. The work on the second hospital in Pune is expected to start this year.
Jupiter operates three multi-speciality hospitals in Thane, Pune and Indore and offers diverse tertiary care services with no major revenue concentration from a single speciality.The hospital chain reported an occupancy of 67.2 % of its capacity as on September 30, 2024.
The company has negligible debt.
