The company has purchased 752.77 square metres of land along with a hospital facility comprising a built-up area of 20,663.80 square metres. The acquisition was executed in multiple stages as part of a structured deal initiated in 2024 and completed through a final deed registered on May 6, 2026.
As per the transaction structure, Manipal Health Enterprises acquired the land for ₹8 crore, while the hospital infrastructure, including the service floor and the fourth to eighth floors, was purchased for ₹453 crore. The ninth floor alone was acquired for ₹34 crore, reflecting the segmented nature of the asset transfer.
Earlier in 2024, a major portion of the transaction had already been executed, wherein the primary hospital land measuring approximately 10,590 square metres and the main hospital building were transferred to Manipal. In that phase, the company had paid ₹413 crore, bringing the cumulative value of the entire deal to ₹908 crore.
However, the transaction faced delays after the sellers failed to fulfil certain contractual obligations, preventing timely completion of the asset transfer. The latest 2026 deed has now finalized the process, ensuring the remaining portions of the property have been fully transferred to Manipal Health Enterprises.
The sellers involved in the transaction include Khubchandani Hospitals Private Limited, Khubchandani Properties and Investment Private Limited, and Perfect Realty Private Limited.
In addition to the physical assets, Manipal Health Enterprises has also acquired the entire remaining development rights associated with the hospital land, including floor space index and transferable development rights, strengthening its long-term expansion potential at the site.
The transaction was officially registered on May 6, 2026, with the company paying ₹29.22 crore as stamp duty for the registration process. Queries sent via email to Manipal Health Enterprises did not receive any response.
This acquisition comes shortly after the company, which is backed by Temasek, filed its draft red herring prospectus with the Securities and Exchange Board of India in March for an initial public offering aiming to raise ₹8,000 crore. The proposed IPO also includes an offer-for-sale component involving approximately 4.32 crore shares.
The deal underscores Manipal Health Enterprises’ aggressive expansion strategy in India’s metro healthcare infrastructure market, reinforcing its presence in one of Mumbai’s key medical hubs.
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