Corporate News
Home >> Markets >> Equity >> News >> Corporate News Detailed News
Virinchi commences Phase 2 of healthcare expansion at its Banjara Hills facility
(18:29, 14 Jun 2018)
Virinchi has completed two years of operations since launch of Phase 1 of the 600 bed flagship facility at Banjara Hills by the end of May 2018. The healthcare operations over the past two years in the flagship hospital have stabilized reporting total healthcare revenue of Rs.101 crores and EBITDA of Rs. 20 crores across 550 operating beds (350 at Banjara Hills & 200 in two smaller facilities).

The company has now started project work for Phase 2 of the healthcare expansion at Banjara Hills facility to service economy patients to maximize from the new initiatives of GOI viz., Ayushman Bharat etc. and also start full-fledged Oncology department.

Phase 2 of healthcare expansion would consist of 150 economy and 100 Oncology beds, costing around Rs. 70 to 80 crores. The capital works on 50 economy beds has been underway since last two quarters with internal accruals. The Radiation Oncology involving bunkers to house Linear accelerators will require 12-14 months for completion.

Phase 2 is planned to be supported through internal accruals, supplier credit and institutional debt. ECL Finance Limited (Edelweiss) is supporting Virinchi by offering Rs. 35 crore debt, which will be taken up in tranches based on the needs of the company. This includes taking over existing debt from other institution to the extent of around Rs.11 crores. As part of the terms and conditions of the loan, the promoters have offered their personal guarantee and also Rs. 15 crores worth of sharesof the company held by them as collateral.

With completion of Phase 2, all of the planned 800 beds of the Banjara Hills facility will be operational, providing patient services in over 40 clinical departments.

Powered by Capital Market - Live News

Adani Ports & Special Economic Zone Ltd     395.75   Up   1.25 (0.32%)   Asian Paints Ltd     1,397.45   Up   7.85 (0.56%)   Axis Bank Ltd     669.95   Down   -6.70 (-0.99%)   Bajaj Auto Ltd     2,716.00   Down   -13.65 (-0.50%)   Bajaj Finance Ltd     2,533.50   Down   -2.40 (-0.09%)   Bajaj Finserv Ltd     6,277.00   Down   -82.00 (-1.29%)   Bharat Petroleum Corporation Ltd     353.30   Down   -1.90 (-0.53%)   Bharti Airtel Ltd     311.95   Down   -20.10 (-6.05%)   Bharti Infratel Ltd     280.15   Down   -0.30 (-0.11%)   Cipla Ltd     511.15   Up   1.55 (0.30%)   Coal India Ltd     230.10   Down   -1.95 (-0.84%)   Dr Reddys Laboratories Ltd     2,610.80   Down   -8.35 (-0.32%)   Eicher Motors Ltd     20,319.85   Down   -50.10 (-0.25%)   GAIL (India) Ltd     323.45   Down   -8.95 (-2.69%)   Grasim Industries Ltd     827.95   Down   -0.15 (-0.02%)   HCL Technologies Ltd     962.70   Up   8.00 (0.84%)   HDFC Bank Ltd     2,122.70   Down   -9.60 (-0.45%)   Hero Honda Motors Ltd     2,907.40   Up   3.80 (0.13%)   Hindalco Industries Ltd     206.60   Up   0.60 (0.29%)   Hindustan Petroleum Corporation Ltd     240.60   Down   -3.60 (-1.47%)   Hindustan Unilever Ltd     1,748.00   Down   -3.50 (-0.20%)   Housing Development Finance Corporation Ltd     2,001.20   Down   -3.35 (-0.17%)   ICICI Bank Ltd     373.95   Down   -0.65 (-0.17%)   Indiabulls Housing Finance Ltd     817.80   Up   1.05 (0.13%)   Indian Oil Corporation Ltd     137.65   Down   0.00 (0.00%)   IndusInd Bank Ltd     1,524.05   Up   1.05 (0.07%)   Infosys Technologies Ltd     730.10   Down   -3.25 (-0.44%)   ITC Ltd     292.45   Down   -1.50 (-0.51%)   JSW Steel Ltd     289.55   Up   0.55 (0.19%)   Kotak Mahindra Bank Ltd     1,233.70   Up   13.75 (1.13%)   Larsen & Toubro Ltd     1,336.50   Down   -9.55 (-0.71%)   Mahindra & Mahindra Ltd     735.05   Up   0.40 (0.05%)   Maruti Suzuki India Ltd     7,347.40   Up   11.15 (0.15%)   NIFTY (S&P CNX)     10,879.05   Down   -26.15 (-0.24%)   NTPC Ltd     145.20   Up   0.30 (0.21%)   Oil & Natural Gas Corpn Ltd     146.50   Up   1.50 (1.03%)   Power Grid Corporation of India Ltd     195.40   Up   1.50 (0.77%)   Reliance Industries Ltd     1,146.90   Up   12.45 (1.10%)   State Bank of India     298.05   Up   0.65 (0.22%)   Sun Pharmaceuticals Industries Ltd     382.65   Down   -43.90 (-10.29%)   Tata Consultancy Services Ltd     1,885.40   Down   -8.90 (-0.47%)   Tata Motors Ltd     184.00   Down   -0.90 (-0.49%)   Tata Steel Ltd     472.15   Down   -1.00 (-0.21%)   Tech Mahindra Ltd     708.40   Up   2.85 (0.40%)   Titan Company Ltd     959.15   Down   -2.40 (-0.25%)   UltraTech Cement Ltd     3,827.00   Down   -19.45 (-0.51%)   UPL Ltd     765.25   Down   -3.80 (-0.49%)   Vedanta Ltd     198.30   Up   0.85 (0.43%)   Wipro Ltd     340.55   Up   5.15 (1.54%)   Yes Bank Ltd     200.20   Down   -1.30 (-0.65%)   Zee Entertainment Enterprises Ltd     439.80   Down   -1.10 (-0.25%)      NSE Data  -  www.nseindia.com (5 minutes delayed) syndicated by www.cmots.com