Hiranandani Constructions, promoted by Niranjan Hiranandani, is planning to set up a chain of hospitals in the country. The total investment in these projects could be around Rs 500 crore. The company plans to become a major healthcare player in the next five years, sources said. The real estate major is planning to set up new hospitals at its upcoming townships in Chennai, Pune, Nasik, Panvel and Kolkata among others.
The hospitals, all with over a 100-bed capacity, will be called Hiranandani Hospitals. According to market sources, the Hiranandanis are planning to take on corporate hospital chains like Wockhardt, Apollo and Fortis. However, the company’s MD, Niranjan Hiranandani, said they are still outing whether to set up corporate hospitals or to position them as charitable ones. “Our idea is to set up five hospitals at our townships in the next five years,” Hiranandani said. The company has also tied up with Fortis group, according to the deal, Hiranandani will build hospitals for the group. Fortis, to mark its entry in Mumbai, took over the group’s hospital in Vashi a few months ago. Dr L H Hiranandani hospital, set up by the group at Hiranandani’s Powai township, is currently undergoing expansion, to double its capacity from the existing 135 beds to over 230 beds. The expansion will involve investments between Rs 75- 100 crore, sources said.
The Hiranandanis also have a hospital in Thane. Hiranandani said the company would fund the hospitals with internal accruals and debt. “If we decide to make the chain corporate, we can also look at capital markets,” he said. Hiranandani also said the company was planning to launch its Haiko supermarkets at upcoming townships. “All these amenities were initially planned as value-adds. But now they constitute an integral part of our expansion plans,” he said. Hiranandani has two townships in Powai and Thane, and is building townships in Panvel, in Mumbai. Many of the healthcare majors in the country have chalked out expansion plans for their hospital chains.
