Seven Hills setting up Rs 430-crore hospital

Visakhapatnam-based Seven Hills Hospitals Group is spreading its wings to the Mumbai market.

The 15-year-old group, which currently runs a 250-bedded hospital at Visakhapatnam, is setting up a 1,000-bedded multi-specialty hospital, including a 200-bedded intensive care unit, in Mumbai at an investment of about Rs 430 crore.

"We have already started the construction work of the Mumbai hospital. Financial tie-ups with banks have been completed recently and the multi-specialty hospital will be ready in two years," Jitendra Das Maganti, chairman and managing director of Seven Hills Group, told Business Standard.

Jitendra Das said that the Municipal Corporation of Greater Mumbai (MCGM) had allotted 17 acres of prime land at Andheri East on a 60-year lease for setting up the hospital.

"MCGM had invited international bids to allot 17 acres of land which is 1.5 km from the international airport. According to the agreement entered into with MCGM, we have to earmark 200 beds for the corporation's needs and collect the fee from patients as per the rules set by MCGM for that 200 beds," he added.

According to Jitendra Das, Seven Hills will construct the 1,000-bedded hospital on 10 lakh sq ft, staff and nurses quarters on 3 lakh sq ft and an old-age home called 'Our Place' on 4 lakh sq ft.

"Apart from the multi-specialty hospital, we will also construct around 300 two and three-bedroom quarters for doctors and nurses on the hospital premises. Besides, we plan to construct 500 modern air-conditioned rooms at 'Our Place' with facilities like round-the-clock medical care, bar, gym, indoor games and a mini-cinema theatre-cum-conference hall," he said.

Seven Hills will take up allied activities like nursing school, medical technicians courses and diploma in National Board's postgraduate medical courses at this premises, he added

Jitendra Das said that of the total project cost, promoters will contribute about Rs 100 crore as equity while the remaining amount will be borrowed from financial institutions.

"We have plans to promote this as a medical tourism project. For this, we are planning to set up a special wing to attract foreigners for both medical treatment and tourism in India," he said.