Acquisition Details

  • Rays of Belief Limited, through its wholly owned subsidiary Mom's Belief US Inc., has acquired 100% of City Pro Group Inc. (CPG)
  • CPG has become a step-down wholly owned subsidiary of Rays of Belief Limited
  • Effective date of acquisition: September 18, 2026
  • Transaction value: Not disclosed in the filing

Company Financials

  • Rays of Belief Limited FY26 consolidated revenue: ₹81.66 Crore
  • Rays of Belief Limited FY26 net profit: ₹4.96 Crore
  • Rays of Belief Limited FY26 EPS: ₹3.21
  • City Pro Group Inc. FY25 revenue: US$11.43 million (~₹97.27 Crore)

Target Company Profile

  • City Pro Group Inc. is a New York-based pediatric healthcare services provider
  • Established in 1995 (29 years of experience)
  • Operations across Bronx, Brooklyn, Manhattan, and Long Island (Plainview)
  • Services include pediatric Early Intervention and special education
  • Approved New York State Department of Health Early Intervention Program provider
  • New York State Medicaid-enrolled provider

Strategic Rationale

  • Strengthens Mom's Belief's presence in the U.S. pediatric developmental-care market
  • Creates two-way India-U.S. capability exchange between CPG and Mom's Belief's 136-centre network in India
  • Adds Early Intervention and special education capabilities to the Group's international healthcare platform
  • Provides established clinical supervision frameworks and provider training capabilities
  • Enhances family-engagement practices and community relationships

Operational Impact

  • CPG brings multidisciplinary clinical expertise spanning speech and language therapy, occupational therapy, physical therapy, and behavioral services
  • Acquisition creates platform for cross-border knowledge sharing
  • Potential evaluation of Mom's Belief's Family Support Program for the U.S. market
  • Opportunity to strengthen Indian network through relevant clinical and operating practices from CPG

Management Commentary

Mr. Nitin Bindlish, Managing Director, stated: "City Pro Group gives us an established operating platform inside the New York Early Intervention ecosystem, experienced clinical teams, community relationships and practices developed over many years. We intend to evaluate relevant elements of CPG's clinical supervision, professional development, family engagement, service coordination and community partnerships across our 136 centres in India."

Corporate Structure

  • Rays of Belief Limited (formerly Rays of Belief Private Limited)
  • Corporate Office: 18/1, T Block, Near DLF City Club, DLF Phase III, Sector 24, Gurugram 122001