Hiranandani Group Forays Into Healthcare Segment

Mumbai: | Updated: Jul 26 2002, 05:30am hrs
In a strategic move, Hiranandani Foundationa private charitable trust which is also a part of the Hiranandani Groupis foraying into the healthcare segment. The company plans to set up its first hospital at Hiranandani Gardens, Powai, in Mumbai. For the purpose, the company is planning to invest Rs 24 crore, informs Mr Niranjan Hiranandani, chairman, Hiranandani Foundation.

Says Mr Hiranandani: The hospital will be ready for operation by December 2003. Construction for the 100-120 bed hospital will start this September.

As for the rationale behind the move, Mr Hiranandani explains that there is no top-of-the-line hospital between Lilavati at Bandra and Thane.

Adds Mr Hiranandani: Our hospital will provide high level of diagnosis which will include top-of-the-line strong intensive care unit (ICU), three operation theatres, strong child care, endoscopy and oncology, among others.

In addition, the Foundation is also looking at the possibilities of associating with other popular hospitals worldwide in order to derive the best medical and service-related operating practices from hospitals worldwide.

Lakewood Malls Pvt Ltd, a company floated by the Hiranandani Group of Companies, has recently announced plans to become a multi-segment retail chain under three categories namely, supermarkets, specialty stores and lifestyle stores, with a host of new marketing initiatives.

The previous years turnover of Haiko Supermarket was Rs 9.5 crore. It targets a turnover of Rs 12 crore in the current year. The projected turnover of Lakewood Malls Pvt Ltd in the current year would be approximately Rs 20 crore, adds Mr Hiranandani.