Aster DM soars on plans to invest Rs 500 crore in Tamil Nadu

Aster DM Healthcare jumped 4.74% to Rs 188.95 after the company announced the signing of a memorandum of understanding (MoU) with the Government of Tamil Nadu, India to set up healthcare facilities in the State.

The MoU proposed an investment of Rs 500 crore in hospitals, pharmacies and laboratories in the State. This will help provide quality healthcare at affordable cost to the people of Tamil Nadu and generate employment for more than 3500 people.

Currently, Aster has 14 hospitals, 9 clinics and 66 labs & patient experience centres in India, with an approximate investment of Rs 3000 crore.

With 5 hospitals in Kerala including Aster Medcity, the flagship hospital of the group, the investment in Tamil Nadu will further solidify its presence in the South. Apart from Kerala, Aster has healthcare facilities spread across Karnataka, Maharashtra, Andhra Pradesh and Telengana.

Aster DM Healthcare is one of the largest private healthcare service providers operating in GCC and in India.

The company's consolidated net profit rose 60.51% to Rs 148.34 crore on an 18.94% increase in sales to Rs 2,649.56 crore in Q3 FY22 over Q3 FY21.

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