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Supertech to invest Rs 300 crores in healthcare sector to built 4 hospitals

Supertech to invest Rs 300 crores in healthcare sector to built 4 hospitals

New Delhi: Supertech Ltd, one of the known names in the realty sector is now planning to venture into healthcare sector by investing Rs 300 crores. The firm will now be opening four hospitals in the next four years.

The developer has announced investing  of Rs 100 crore in order to develop a 100-bed super-specialty hospital at its already existing residential Complex Cape Town built in sector 74, Noida. The rest of Rs 200-crores will be invested in building three more hospitals in townships, all of which will be built in the NCR.

As reported by Livemint, the construction of the first hospital has already commenced and Supertech plans to complete it by May 2017, the company said on Friday. The hospital will be equipped with advanced medical technologies and facilities. “Top-quality medical facilities at affordable cost still remain a challenge, and we intend to fill this gap by launching our range of hospitals, along with qualified and experienced doctors,” said R.K. Arora, chairman of Supertech.

Concerning why the hospitals were built only in residential complexes which are developed or will be developed in their townships Arora told Livemint “If we set up a hospital outside, there will be questions about customer support, marketing and commercial viability, but when we are developing it in a township, we know that customers are with us,” .

Supertech possess 80,000 units and 120 million sq. ft. real estate space which is under development across the country. Its flagship project North eye is also under construction in North India, in Sector 94, Noida.

Supertech  is not the first real estate firm planning its investment in the healthcare sector.

Emaar MGF had earlier in 2007 said that it was planning to enter the healthcare industry, with plans to launch a chain of 50 hospitals in seven years. But as there was a global financial crises in 2008, the plans did not finalize, adds Mint.

Jaypee group had plans regarding the expansion of its hospital chain, as it is running a hospital near its wishtown project in Noida. But it later on put aside its plans on hold due to slowing economy and debt woes.

Source: With inputs from Livemint
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