India's DLF to foray into hospital space

Global Health

10/08/2023 16:56

MUMBAI, Aug 10 (Reuters) - India's top real-estate
developer DLF  DLF.NS  will form a company with Global Health
Ltd  GLOH.NS  to launch a multi-speciality hospital, the two
companies said on Thursday, in what is DLF's foray into the
country's booming hospital sector.
    Both Global Health, which runs the Medanta chain of
hospitals, and DLF will own 50-50 equity in the new company and
the hospital, with about 400 beds, will be located in the
capital city of New Delhi.
    India's healthcare sector has global investors scouting the
market, Reuters reported in June, with global consultancy PwC
forecasting 12-14% annual growth for a private healthcare market
currently worth around $48 billion.
    DLF's profit rose nearly 12% to 5.27 billion rupees ($64.3
million) in the April-June quarter. 

 (Reporting by Shilpa Jamkhandikar; Editing by Maju Samuel)
 ((shilpa.jamkhandikar@thomsonreuters.com;))