Date: November 04, 2026

Operational / Strategic Disclosures

Land Lease Agreement Details:

  • Manipal Health Enterprises Limited has entered into a long-term land lease arrangement with Thakral Corporation Ltd through its Indian subsidiary TIL Investments Pvt Ltd
  • The lease covers approximately 3.5 acres of land situated in Gurugram, Delhi National Capital Region (Delhi NCR)
  • Lease term: Initial period of approximately 30 years
  • Purpose: Development and operation of a multi-specialty hospital

Development Plan:

  • The multi-specialty hospital will be developed in phases
  • First phase expected to have capacity of up to 500 beds
  • The land site is well connected to Indira Gandhi International Airport and other major infrastructure nodes
  • Location is situated near upcoming residential developments and infrastructure projects

Strategic Rationale:

  • For Thakral Group: Marks their foray into healthcare-focused real estate and provides opportunity to participate in India's healthcare sector growth
  • For Manipal Hospitals: Strengthens presence in Delhi NCR, which is described as an important growth market
  • Thakral Group proposes to develop an integrated health and wellness ecosystem anchored by the flagship hospital, complemented by hospitality and retail offerings
  • The development aligns with Thakral's strategy to address the region's expanding healthcare and wellness demand

Management Comments:

  • Mr. Inderbethal Singh Thakral, CEO and Executive Director of Thakral: "We are pleased to collaborate with Manipal Hospitals, one of India's leading hospital groups. This arrangement provides our Group an opportunity to participate in the growth of India's healthcare sector and marks our foray into healthcare-focused real estate."
  • Mr. Dilip Jose, Chief Executive Officer (CEO) of Manipal Hospitals: "Delhi NCR is an important market for Manipal Hospitals. The proposed hospital in Gurugram will enable us to strengthen our presence in the region and serve its growing healthcare needs. We are pleased to collaborate with the Thakral Group and look forward to bringing Manipal Hospitals' clinical expertise and patient-centric model of care to this location."

Company Background Information

About Thakral Corporation Ltd:

  • Listed on SGX Mainboard since December 1995
  • Core business comprises growing investment portfolio in Australia, Japan, Singapore, India and London
  • Australian investments include development and management of over-50s lifestyle resorts under ASX-listed GemLife Communities Group
  • Japanese investment portfolio consists of landmark commercial buildings in Osaka
  • In India, developing mixed-use healthcare-led real estate project in Gurugram, Delhi NCR
  • Also manages and markets beauty, fragrance and lifestyle brands in Asia
  • Distributor of Nespresso products in India through boutiques, online channels, and hospitality/corporate sales
  • Authorized distributor of DJI drones, accessories and audio-visual equipment in 7 South Asian countries
  • Expanding presence in agriculture and enterprise drones in India through local manufacturing under "Make in India" initiative
  • Makes strategic investments in innovation ventures that complement existing business relationships

About Manipal Hospitals:

  • One of India's leading integrated healthcare providers serving approximately 8 million patients annually
  • Pan-India footprint of 50 hospitals with over 13,400 licensed beds across 14 States & Union Territories
  • India's largest multispecialty hospital network by bed capacity
  • Employes 11,000+ doctors and over 25,000 total employees
  • NABH accredited, with several hospitals also accredited by NABL
  • Recognized for excellence in nursing and emergency care