Apollo Hospitals embarks Rs 1,700 cr towards expansionApollo Hospitals has earmarked an amount of Rs 1,700 crore towards its on-going capital expenditure and expansion plans in Gurugram and Chennai.

It announced the acquisition of a hospital asset in Gurugram with a potential of 650 beds over seven lakh sq ft from Nayati Healthcare and Research NCR, for a consideration of around Rs 450 crore. The hospital spread across 5.63 acre of land marked the entry of the group in Haryana.

The routine capex, which is part of the cash flows every year, is approximately around Rs 300 crore, while the free cash flows would be around Rs 800 crore. The free cash flow is going to be using for deployment in new projects.

An amount of Rs 500 crore will be spent over the next two years to create a tertiary care hospital in OMR and another Rs 300 crore will be deployed towards a brownfield expansion in Bengaluru.

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