Spice Global To Try Luck In Hospital & Realty Sectors

After developing an image in the Indian mobile business, Spice Global plans to try its luck in the realty and hospital sectors as well. To begin with, Spice Global will develop a multi-specialty hospital in Saket as their first venture.

Realty and hospital sectors are the most booming sectors in India. Seeing this booming nature, Spice Global has decided to enter into these sectors and give a try on its luck in these sectors.

Spice Global, led by Mr. Bhupendra Kumar Modi, will develop a super specialty hospital at Saket in New Delhi. The 1000- bedded super specialty hospital, Saket City Hospital, is expected to be completed by 2014.

Spice Global will also develop a residential project in close proximity to the hospital. However the residential project is meant for the “assistant living.” Commenting on their entry into the hospital sector, Mr. Modi said that the group will develop many super specialty hospitals across India.

He added that the group has already purchased land parcels in Mumbai and Punjab with this purpose. He said that the firm has plans to enter into the realty sector.  Sources close to him revealed that their entry into the realty sector will not take place in the current year as Spice Global has decided to concentrate only on the hospital sector in the year 2013.

Saket City Hospital will be completed with an investment amounting to Rs.1400 Cr which the company will manage to find from its internal turnover. Around Rs.250 Cr has already been invested by the group for the construction of its first phase.

The first phase, consisting 230 beds, will be completed by June 2013 with a fund of Rs.400. The group has already invested nearly Rs.250 Cr and the rest of amount will be funded from the internal turnovers of the company.

Mr. Modi said that once the brand is established with the Saket City Hospital, they will develop hospitals across India. Spice Global plans to concentrate on Metros and especially Mumbai. They have acquired land parcels in the city.

Though the company has plans to enter into Mobile health care business, Mr. Modi said that this is not so practical in India due to the weak connectivity. The firm has successfully established mobile health-care facilities in Singapore.

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