Aster DM Healthcare Unveils Rs 250 Crore Expansion in Bengaluru
Aster DM Healthcare, one of India's foremost integrated healthcare providers, has unveiled expansion plans for its Aster CMI Hospital, a prominent multispecialty facility in Bengaluru. The expansion will encompass an additional 300,000 square feet of infrastructure, effectively boosting bed capacity from 500 to 850 beds. This strategic move reinforces the company's commitment to Bengaluru, elevating its cumulative bed count across the city to 1602 beds and solidifying its position as a premier healthcare provider. The investment earmarked for this upgrade amounts to approximately Rs 250 crore, with the anticipated completion slated for FY2027.
Dr Azad Moopen, Founder Chairman, Aster DM Healthcare said, “The current Indian healthcare market looks highly promising, and our efforts will be to increase our footprint in the country dynamically. We are investing heavily in our people, innovation and infrastructure to differentiate ourselves and create long-term value for all our stakeholders. The expansion of Aster CMI Hospital thus solidifies our unwavering commitment to the Indian business. The overall India business EBITDA for Aster DM Healthcare has grown at the rate of 35% CAGR over the past 5 years, which is reflected in the performance of the EBITDA margin as well. We expect the strong performance to continue in the future, which will be supported by operational leverage on account of brownfield expansion and implementing various cost optimization measures”.
The company aims to increase its bed capacity by approximately 1700 beds by FY27, bringing the total number of beds in India to over 6600. This growth will be achieved through both organic and inorganic means, with a focus on becoming one of the top three integrated healthcare providers in India. Additionally, Aster plans to enhance its presence in various geographies by strengthening its network of labs and pharmacies.
The expansion strategy encompasses both brownfield and greenfield projects, such as the upcoming Aster Capital in Trivandrum and Aster MIMS Kasargod, along with augmenting bed capacity in existing hospitals. Additionally, the company is exploring opportunities in potential markets like Maharashtra and Uttar Pradesh. The capital allocated for this expansion totals approximately Rs 1000 crore.