Shalby Hospitals in Rs 450cr spread

The tax holidays offered in the Union Budget for the healthcare sector has prompted Ahmedabad-based Shalby Hospitals to check into various newer destinations for setting up multi-speciality hospitals. Shalby has chalked out plans to add about 1,500 beds in the next five years for an estimated investment of Rs 450 crore.

"As per the tax holidays offered in various tier 2 cities of India, we aim to enter Mehsana first followed by Nadiad and Surat. These will be 150-200 bed hospitals," said Vikram Shah, chairman of Shalby Hospitals.

Shalby has set up a 200-bed multi-speciality hospital on the SG Highway with a built-up area of 1,80,000 sft.

The company aims to fund its expansion plans through debt. It has been registering a compound annual growth rate of 60 per cent. Shalby has invested close to Rs 100 crore in its facility on the SG Highway.

The hospital group has started its OPD service in East Africa and is now looking at Dubai and the UK.

"We have chalked out our growth plans and as of now do not intend to dilute our equity," he added.