India’s DLF to foray into hospital space

MUMBAI (Reuters) – India’s top real-estate developer DLF will form a company with Global Health Ltd to launch a multi-speciality hospital, the two companies said on Thursday, in what is DLF’s foray into the country’s booming hospital sector.

Both Global Health, which runs the Medanta chain of hospitals, and DLF will own 50-50 equity in the new company and the hospital, with about 400 beds, will be located in the capital city of New Delhi.

India’s healthcare sector has global investors scouting the market, Reuters reported in June, with global consultancy PwC forecasting 12-14% annual growth for a private healthcare market currently worth around $48 billion.

DLF’s profit rose nearly 12% to 5.27 billion rupees ($64.3 million) in the April-June quarter.

(Reporting by Shilpa Jamkhandikar; Editing by Maju Samuel)