Fortis Healthcare Expands Delhi-NCR Footprint with New Sub-Lease Deal 🏥
Big news from the healthcare sector! Fortis Healthcare Limited is making a strategic move to bolster its presence in the bustling Delhi-NCR region. The company, through its wholly-owned subsidiary International Hospital Limited (IHL), has entered into a significant sub-lease agreement for a hospital facility in Gautam Buddha Nagar, Greater Noida.
This isn’t just any agreement; it’s a 15-year sub-lease with R.R. Lifesciences Pvt Ltd, set to become effective on September 1, 2025. Under this arrangement, IHL will take over the hospital’s land, building, and equipment. This also means IHL will be responsible for all revenues and expenses, paying a monthly rent of Rs. 2.40 Crore (plus applicable GST) to R.R. Lifesciences Pvt Ltd, with periodic escalations built in. Plus, a refundable security deposit of INR 60 crore will be provided by IHL.
What does this mean for Fortis? Well, it’s a smart play to expand its footprint in an attractive and high-demand catchment area like Delhi-NCR. The facility is already operational, which means IHL can hit the ground running, ensuring a quick ramp-up of services. This move also allows Fortis to leverage synergies with its existing facilities in the region, making operations more efficient.
Interestingly, Fortis (through another subsidiary, Fortis Hospitals Limited) was previously managing this very facility under an O&M contract since October 2022. This new sub-lease arrangement will terminate that older contract, streamlining operations directly under IHL. The agreement also ensures continuity, as IHL will employ or engage the erstwhile employees, contractors, and vendors of RRLPL who were working at the hospital.
For context, IHL reported a turnover of Rs. 4,692.00 Million, while R.R. Lifesciences Pvt Ltd had a turnover of Rs. 922.30 Million as of March 31, 2025. This sub-lease is a clear indicator of Fortis Healthcare’s commitment to strategic growth and strengthening its position in key markets. Keep an eye out as this new chapter unfolds for Fortis in Greater Noida! ✨
source: Corporate Announcement
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