Healthcare major Apollo Hospitals Enterprise (AHEL) will add nearly 3,000 beds in the next two to three years with an estimated capital expenditure of R2,000 crore.
The move would see the owned beds of Apollo Hospitals grow from 5,900 to 8,900 and total beds grow from the current 8,500 to 11,500, sources in the company said. The company is currently involved in expanding existing hospital capacities as well as setting up greenfield projects across the country with 12 speciality and four mid-size ?Reach? hospitals in places such as Navi Mumbai, Mumbai, Chennai and in and around Chennai, Trichy, Nellore, Masjol, Patna, Vizag, Bangalore and Bilaspur, among other cities, the sources said further.
Chief financial officer at AHEL A Krishnan confirmed the development. He said: ?We are going ahead as per our plans and have lined up projects which are on schedule. In the next three years, we would add nearly 3,000 beds with an estimated expenditure of around R2,000 crore.?
Of the total projected cost, the company expects to spend around R1,750 crore, including from internal accruals and term loans, he added.
On his company?s growth strategy, he said, ?We have a three-pronged approached to our growth which includes expanding our facilities/hospitals in existing places to address rising demand with a focus on key specialities; setting up new hospitals in new and large cities (no presence currently) to reach out to more urban population and expanding in tier II and III cities through the ?Reach? hospitals brand to gain advantage and leveraging our strong brand.?
As of now, the company has invested around R270 crore on the expansion and will be investing around another R400 crore going forward during the financial year, he added.