"Jupiter Life Line Hospitals Ltd Secures Lease for Land in Bibvewadi, Pune"

Jupiter Life Line Hospitals Ltd has successfully acquired approximately 11,500 square meters of land in Bibvewadi, Pune, on a lease basis. The lease spans a duration of 10 years, with an annual rental of Rs. 9.27 Crores. Additionally, the company retains the option to purchase the land after three years. The purpose of this land acquisition is to establish a new hospital facility.

The Board of Directors has greenlit a capital expenditure limit of up to 500 Crores for this project. Over the next 3 to 4 years, plans include adding 500 beds to the hospital to be constructed on this land. The proposed hospital aims to address the healthcare needs of the underserved South Pune community.

As of December 31, 2023, the company and its subsidiary collectively operate 961 beds. With an occupancy rate of 63.2% as of the same date, the company looks forward to leveraging this expansion to further enhance its healthcare services.

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