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Shalby jumps on bagging 30-year lease for Asha Parekh Hospital

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Shalby rose 3.54% to Rs 295.10 after the company secured a 30-year lease to operate the Asha Parekh Hospital in Santacruz, Mumbai.
The company announced that the Charity Commissioner of Mumbai has approved its application, submitted last November, to lease the immovable property of Asha Parekh Hospital, also known as Smt Bhikhubai Chandulal Jalundwala General Hospital (BCJ).
Shalby plans to construct a new hospital with over 175 beds at the Santacruz location. The company will now proceed with executing the lease agreement and obtaining necessary approvals for the construction project.
Shalby is the largest chain of multi-specialty hospitals in Western and Central India. It operates under three main verticals, namely, hospital business, Shalby Orthopedics Centre of Excellence (SOCE) franchise and implant business.
Shalby's consolidated net profit declined 20.29% to Rs 16.60 crore in Q1 FY25 as against Rs 20.82 crore in Q1 FY24. Revenue from operations jumped 18.43% YoY to Rs 278.89 crore in Q1 FY25.
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First Published: Jul 11 2024 | 3:33 PM IST

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