KIMS acquires land in Thane for new hospital; shares zoom

As on 31 December 2023, the company along with its subsidiaries has 3,975 beds and the occupancy rate of its capacity was 72.2 %.

The proposed new hospital at Thane would be a multi-specialty hospital with tertiary and quaternary care facilities having a land area of approximately 2.59 acres and a total built-up area of 2.72 Lakh square feet.

With the new hospital, the company intends to add 300 new beds. The project would be completed within a period of 9 to 12 months.

The investment in the project is expected to be around Rs 500 crore. The purchase of the building and lease amount will be paid from bank loan and internal accruals.

This will be the first hospital of KIMS in the Mumbai-Thane region and the third in Maharashtra, following its presence in Nagpur and Nashik. The Nashik unit will be opening in Q1 FY25.

Headquartered in Hyderabad, Krishna Institute of Medical Sciences Limited (KIMS Hospitals) is one of the largest corporate healthcare groups in Telangana and Andhra Pradesh, providing multi-disciplinary integrated healthcare services, with a focus on tertiary and quaternary healthcare at affordable cost. It has a network of 12 hospitals and 3940 beds spread across Telangana, Andhra Pradesh and Maharashtra.

The company’s consolidated net profit declined 5.45% to Rs 71.84 crore in Q3 FY24 as compared to Rs 75.98 crore posted in Q3 FY23. Revenue from operations stood at Rs 605.84 crore in third quarter of FY24, up 7.77% year on year. Capital Market