Apollo Hospitals launches new 500-bed hospital in Worli, discloses plans for expansion
In addition to the Mumbai hospital, Apollo also plans to expand its existing hospital facility in Lucknow to 500 beds
Apollo Hospitals entered into a definitive agreement to build and operate a 500-bed hospital in Worli, Mumbai. The hospital is expected to be operational in 4 years and will be integrated with advanced diagnostic screening across specialities such as cardiology, oncology, gynaecology, neurology, orthopaedics, intensive care and more.
In addition to the Mumbai hospital, Apollo also plans to expand its existing hospital facility in Lucknow to 500 beds, by adding 300 beds on their recent acquisition of 1.2 acres of land adjacent to the existing facility. This expansion is set to be completed and operational in 3 years.
With these 2 additions, Apollo Hospitals plans to add over 3512 capacity beds (2877 census / operational beds) over the next 4 years across 11 locations in India as per the table below.
The total estimated project cost for these projects at 11 locations is around Rs 6,100 crores of which over Rs 1,700 crores have already been incurred for land acquisition, security deposits, and project development as applicable, until now.
The remaining project costs expected to be incurred over the next 3-4 years is approx. Rs 4,400 crores to be funded primarily through existing funds and Internal accruals.
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