Manipal Health Acquires Hospital Property in Mumbai’s Andheri for INR 495 Cr

With the completion of the latest phase, the total transaction value has reached approximately INR 908 crore.

Leading hospital chain Manipal Health Enterprises, backed by Teamasek and TPG, has acquired the Khubchandani Hospital property in Andheri for INR 495 crore.

The acquisition includes a 7,521 sq m land parcel alongside an existing hospital structure spread across a built-up area of 20,663.80 sq m.

The latest move is aimed at expanding its footprint in the western suburb of Mumbai.

As per reports, the latest transaction forms part of the second phase of a larger deal involving the hospital property and operational healthcare infrastructure in Mumbai.

The primary hospital land parcel, comprising most of the 10,590 sq m area, along with the main hospital building, had already been acquired by Manipal Health in an earlier transaction registered in 2024 for INR 413 crore.

With the completion of the latest phase, the total transaction value has reached approximately INR 908 crore.

The newly executed 2026 deed formally transfers the remaining portions left out in the earlier deal, including an additional 752.77 sq m plot that was not included earlier, Block B hospital floors from the service floor to the 9th floor, and all balance Floor Space Index (FSI), Transferable Development Rights (TDR), and future development potential linked to the hospital land.

Reports indicated that the transaction was registered recently and involved stamp duty payments as part of the deal process.

Following this acquisition, Manipal holds the ownership of the land, the hospital infrastructure, and all future redevelopment potential attached to the property.

This acquisition forms part of its broader initiative to expand its presence in major cities.

Last year, the healthcare chain acquired Pune-based Sahyadri Hospitals from Ontario Teachers' Pension Plan Board in a transaction estimated at INR 6,200–6,400 crore, according to a regulatory filing.

The deal added Sahyadri’s established network of 11 hospitals to Manipal’s portfolio across key regional cities such as Pune, Nashik, Ahilya Nagar (formerly Ahmednagar), and Karad, strengthening its presence in Western India.

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