CALCULATE YOUR SIP RETURNS

Narayana Hrudayalaya Partners with Sunglow Realties for New 200-Bed Hospital in Bengaluru

Written by: Team Angel OneUpdated on: Jan 28, 2025, 3:09 PM IST
Narayana Hrudayalaya signs MoU with Sunglow Realties to lease a 200-bed hospital in Bengaluru, set to commence operations in 3.5 years.
Narayana Hrudayalaya Partners with Sunglow Realties for New 200-Bed Hospital in Bengaluru
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

In a significant development, Narayana Hrudayalaya Limited (NH) has entered into a Memorandum of Understanding (MoU) with Sunglow Realties Pvt. Ltd. (BCM Group) to construct and lease a hospital building in Bengaluru. This partnership is poised to enhance NH’s healthcare infrastructure in the central Bengaluru region with a 200-bed facility.

Share Price Move

NH’s share price traded lower at ₹1,265.20, down by 2.01% on the NSE as of 2:51 PM on January 28, 2025. The stock recorded an intraday high of ₹1,301.45 after opening at ₹1,297.35. So far, in January (as of January 28), the stock has declined by 0.56%.

Key Details of the MoU

  1. Purpose of the Agreement
    The agreement focuses on setting up a hospital infrastructure to be managed by Narayana Hrudayalaya. Sunglow Realties will undertake the construction of the facility and lease it to NH on a long-term basis.
  2. Hospital Capacity and Timeline
    The proposed hospital will have a capacity of 200 beds and is expected to be operational in approximately 3.5 years.
  3. Parties Involved
    • Narayana Hrudayalaya Limited: A prominent healthcare provider in India.
    • Sunglow Realties Pvt. Ltd. (BCM Group): The entity responsible for constructing the hospital building, with its headquarters in Indore, Madhya Pradesh.

Significant Terms of the Agreement

  • Sunglow Realties will lease the hospital building to NH under the binding terms outlined in the MoU.
  • The agreement includes customary payment terms and representations, ensuring a robust framework for long-term collaboration.

Additional Highlights

  • The MoU does not involve any shareholding or related-party transactions.
  • There are no conflicts of interest or board nominee requirements arising from this agreement.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 28, 2025, 3:09 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

Know More

We're Live on WhatsApp! Join our channel for market insights & updates

Open Free Demat Account!

Join our 2.5 Cr+ happy customers

+91
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy ₹0 Account Opening Charges

Get the link to download the App

Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Join our 2.5 Cr+ happy customers