By: IPP Bureau
Last updated : February 26, 2024 11:12 am
The board gave in-principle approval for expansion of company's footprint in Lucknow
The Board of Directors of Max Healthcare Institute Limited, at their meeting held today i.e. February 24, 2024, have approved the acquisition of land parcel allotted through e-auction admeasuring ~ 21,946 Sq. meter, on freehold basis, located in Lucknow, Uttar Pradesh (Land Parcel) for an amount of ~ Rs. 167 Crore (including stamp duty), upon successful bid by the company.
The board gave in-principle approval for expansion of company's footprint in Lucknow, Uttar Pradesh. The aforesaid Land Parcel has potential to develop ~ 500 bedded Hospital with a built-up area of ~ 8 (eight) lakh sq. feet.
Currently, Max Healthcare Network Hospitals are operating at a very high-capacity utilization and the Capacity Utilization for Q-3, FY 24 was > 73%. The purchase of land parcel is proposed to be funded from internal accruals.