Aster DM arm inks lease agreement with Aparna Constructions & Estates

Aster DM Healthcare said that its wholly owned subsidiary, Sri Sainatha Multispecialty Hospitals has entered into lease agreement with Aparna Constructions and Estates for setting up new Aster Woman and Children Hospital in Hyderabad.

The company will invest around Rs 220 crore and it has proposed capacity addition of 275-300-bed in 2 phases. The lease term is 30 years, starting from the commencement date of rent payments.

The company said that establishing a new Women & Child hospital in Hyderabad offers a strategic opportunity to address the growing healthcare needs of a rapidly expanding population, driven by urbanization and an increasing middle class with greater disposable income.

The proposed project is situated in a catchment area with a predominantly young migrant population, which further increases the demand for comprehensive womens and childrens healthcare services. With limited options for full-fledged Women & Child hospitals offering high-end super-specialty services, this project is well-positioned to serve an essential market need while capitalizing on the city's robust infrastructure and medical tourism potential.

Aster DM Healthcare is primarily involved in the operations of healthcare facilities, retail pharmacies, and providing consultancy in areas relating to healthcare.

The companys consolidated net profit jumped 81.29% to Rs 81 crore in Q1 FY25 as compared with Rs 44.68 crore in Q1 FY24. Revenue from operations jumped 19.1% YoY to Rs 1001.87 crore during the quarter.

Shares of Aster DM Healthcare rose 0.30% to Rs 422.70 on the BSE.

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