Jupiter Hospitals’ new facility in Dombivli to be operational by 2026

Jupiter Life Line Hospitals’ upcoming hospital in Dombivli, near Mumbai, is on track and expected to be operational by 2026, says CEO Ankit Thakker.

A second hospital in Pune is currently undergoing regulatory approvals, which the company expects to secure by October-December 2024 (Q3FY25).

Thakker expects work on this new Pune project to begin by the end of the current fiscal year or early next year.

For the Dombivli hospital, Jupiter has already invested around ₹120-125 crore in initial expenses and plans to spend an additional ₹200-250 crore in the first phase.

The company has over ₹300 crore in cash reserves, supplemented by internal earnings, which should comfortably cover the remaining investment for this project.

The hospital chain also expanded its existing facilities, adding 22 new beds to its Pune hospital in July-September 2024 (Q2FY25).

In Indore, the hospital achieved a 60% occupancy rate in the second quarter and is currently constructing 75-80 additional beds, expected to be ready by Q3 FY25.

Indore remains in its growth phase and anticipates significant contributions from this location once the additional beds are fully operational by year-end.

Jupiter Life Line Hospitals reported 20% year-on-year growth in second quarter revenue to ₹273 crore. Profit after tax grew 39% to ₹50 crore.

The company’s market capitalisation stands at approximately ₹9,670.33 crore, with its shares gaining nearly 48% over the past year. CNBCTV18