Spice Global, under the leadership of Bhupendra Kumar Modi, is making significant strides into the thriving hospital and real estate industries within India. The company has unveiled plans for the establishment of Saket City Hospital, which will serve as their inaugural super specialty hospital located in Saket.
This state-of-the-art facility will offer 1,000 beds and is on track for completion in 2014, with a substantial investment pegged at ₹1,400 crore.
Chairman Modi revealed that the group has already committed ₹250 crore towards the initial phase of this project. Set to conclude in June 2013, the first phase will feature 230 beds and an estimated investment of ₹400 crore.
The funds for this phase are planned to be sourced from the group's internal turnover, indicating a self-sufficient financial strategy.
Spice Global’s ambition doesn’t stop at just one hospital; they're keen on establishing multiple hospitals across the nation. Following the launch of their first facility, they have intentions to expand their footprint by developing additional multi-specialty hospitals. The group has already acquired land parcels in Punjab and Mumbai, marking the next step in their expansion efforts.
Previously, Spice Global had undertaken efforts to refurbish an older hospital in Saket, transforming it into what we now know as Saket City Hospital, which will boast advanced healthcare amenities.
In addition, Spice Global is venturing into residential developments adjacent to the hospital, although Mr. Modi indicated that the focus for 2013 will predominantly be on healthcare initiatives, with real estate projects expected in the future.
The Singapore-based conglomerate is also exploring innovative solutions, such as introducing mobile healthcare facilities tailored for the Indian market. Modi emphasized the critical issue of connectivity in the region, citing the success of their mobile healthcare offerings in Singapore. They are optimistic about launching a similar service in India within the next year.