Apollo Hospitals to invest Rs 540 cr to add 1,000 beds in FY14

Healthcare major Apollo Hospitals plans to invest around Rs 540 crore in the current financial year to add 1,000 beds in existing facilities, as it looks to expand its network in the country.

 

"The investment on the 1,000 beds in FY14 will be around Rs 540 crore," Apollo Hospitals Enterprises Ltd Group CFO Krishnan Akhileswaran told PTI.

 

The Chennai-headquartered firm also plans to add 150 pharmacies in the country in the current financial year, Akhileswaran added.

 

At the end of FY13, Apollo Hospitals had a network of 1,503 operational pharmacies.

 

When asked how the company plans to raise the capital required for expansion, Akhileswaran said: "It would be through both debt and internal accruals."

 

The company would add 200 beds at its Trichy facility, 200 beds at Nellore hospital and 30 beds in Chennai facility, Akhileswaran said.

 

"Besides, we would add 60 beds at Women and Child Hospital, 125 beds at Nashik, 170 beds at Apollo Hospital South Chennai and 180 beds at North Bangalore hospital," Akhileswaran added.

 

For the year ended March 31, 2013, revenues of the hospital division of Apollo Hospitals, including hospital-based pharmacies and consulting increased by 14.3 per cent to Rs 2,216.7 crore in FY13 compared to Rs 1,940.2 crore in FY12.

 

The healthcare major posted consolidated revenues of Rs 3,768.7 crore for the fiscal ended March 31, 2013. The company's profit after tax stood at Rs 304.4 crore for FY13.

 

Apollo Hospitals currently has a network of 8,420 beds across 51 hospitals, 1,503 pharmacies, 92 primary care and diagnostic clinics and 100 telemedicine units across 10 countries.