Manipal Health Enterprises has signed a 30-year lease with Thakral Corporation’s Indian subsidiary to develop and operate a multi-specialty hospital in Gurugram, with the first phase planned to have up to 500 beds. The project will be built on approximately 3.5 acres and is expected to strengthen healthcare infrastructure in the Delhi-NCR market.
The agreement between Manipal and TIL Investments will allow the hospital company to construct, operate, manage and maintain the facility. Manipal disclosed the arrangement in a regulatory filing, which said the land parcel is well connected to Indira Gandhi International Airport and other major infrastructure nodes. The site is also located near upcoming residential developments and infrastructure projects.
The company did not disclose the project’s investment figure. However, an estimate based on earlier comments by Manipal Health Enterprises Chief Executive Officer Dilip Jose places the likely investment at approximately ₹750 crore. Jose had previously said that a greenfield hospital of around 250 beds typically requires ₹380-390 crore, excluding land and building costs. He had also estimated spending on medical equipment, technology, information technology and interiors at around ₹1.5 crore per bed.
The Gurugram project is planned as more than a standalone hospital. Manipal’s board has proposed an integrated health and wellness ecosystem anchored by the facility, with complementary hospitality and retail offerings. The filing did not provide a detailed development schedule or specify when construction or operations would begin.
The location reflects the way healthcare capacity is increasingly being tied to the expansion of residential and infrastructure corridors in the National Capital Region. The company said the Gurugram facility would serve the city’s growing healthcare needs and strengthen Manipal Hospitals’ presence in Delhi-NCR. The proposed hospital’s proximity to the airport and other infrastructure nodes is also expected to support access to the facility from across the region, although the company has not announced detailed transport or access plans.
“Delhi NCR is an important market for Manipal Hospitals. The proposed hospital in Gurugram will enable us to strengthen our presence in the region and serve its growing healthcare needs,” Jose said.
Manipal Health Enterprises currently operates 12,600 beds across 49 hospitals in India and runs three facilities in the Delhi-NCR region. Jose has previously said the company remains open to acquisitions beyond organic expansion and is evaluating opportunities in Kerala, Hyderabad, Delhi-NCR and Visakhapatnam.
The announcement was made after market hours. Manipal Health Enterprises’ shares rose 3.58 per cent on Wednesday to close at ₹667.70 apiece on the BSE. The company has not yet announced the hospital’s construction timetable, opening date or the final investment amount.
