Manipal Health Secures INR 816 Cr Long-Term Hospital Lease, Strengthening Bangalore Expansion
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Backed by Temasek and TPG, Manipal Health continues to expand through a combination of acquisitions, facility upgrades, and strategic real estate investments.
Manipal Health has expanded its presence in Bangalore by signing a long-term lease for a large multi-speciality hospital property in Yelahanka.
The agreement, valued at approximately INR 816 Cr over its tenure, adds nearly 2.45 lakh sq ft of hospital space, continuing expansion across major healthcare markets.
The lease commenced on November 1, 2025, and runs for 29 years and 11 months. The property owners are listed as JKC Varma and others.
Under the terms of the agreement, Manipal Health will pay an initial monthly rent of INR 1.27 Cr, equivalent to roughly INR 52 per sq ft per month. The company has also deposited INR 7.64 Cr as security.
The lease includes a structured escalation mechanism, with rent increasing by 10 per cent in the sixth year and by 15 per cent every three years thereafter. Based on these terms, the total lease commitment over the full duration is estimated at around INR 816 Cr.
The Yelahanka lease follows several recent expansion initiatives by Manipal Health. Earlier this year, Manipal Health acquired a hospital property in Mumbai’s Andheri locality for INR 495 Cr, following a previous acquisition at the same site valued at INR 415 Cr.
The healthcare network has also broadened its national footprint through acquisitions, including AMRI Hospitals in 2023 and Medica in 2024.
Backed by Temasek and TPG, Manipal Health continues to expand through a combination of acquisitions, facility upgrades, and strategic real estate investments.
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