Jupiter Life Line Hospitals Ltd acquires land in Bibvewadi, Pune on lease

Jupiter Life Line Hospitals Ltd has acquired land in Bibvewadi, Pune, with an area of ~11,500 Sq. Meter, on a leased basis. The period for lease is 10 years with an annual lease rental of Rs.9.27 Crores. Further, the company will have the option to purchase the land after three years. The land is leased for setting up a hospital.

The Board has approved a limit of not more than 500 Crores of Capital Expenditure for the proposed project.

Over the course of 3 - 4 years, 500 beds are proposed to be added on the hospital to be built on this land. This proposed hospital will serve the neighboring community of South Pune region, which is currently underserved.

The Company along with its subsidiary has an existing total bed capacity of 961 beds as on 31st December, 2023. The Company's occupancy was 63.2 % of its capacity as on 31st December, 2023.

Shares of Jupiter Life Line Hospitals Limited was last trading in BSE at Rs. 1466.50 as compared to the previous close of Rs. 1439.25. The total number of shares traded during the day was 3847 in over 977 trades.

The stock hit an intraday high of Rs. 1496.25 and intraday low of 1433.00. The net turnover during the day was Rs. 5665021.00.

Source : Equity Bulls

Keywords

JupiterLifeLineHospitals INE682M01012 LandAcquisition LEase Bibvewadi Pune