Manipal Health Enterprises Limited has entered into a lease agreement with TIL Investments Private Limited for a parcel of land in Haryana. The lease, valid for 29 years and 11 months, is for the purpose of constructing, operating, managing, and maintaining a new hospital. This strategic move is expected to contribute to the company’s expansion plans and enhance its healthcare network.
Lease Agreement for Expansion
Manipal Health Enterprises Limited has announced the execution of a significant lease agreement with TIL Investments Private Limited. The agreement pertains to land situated in the revenue estate of Village Kherki Daula, Tehsil Manesar, District Gurugram, Haryana. This strategic acquisition of land rights is a crucial step towards the company’s ongoing expansion initiatives.
New Hospital Development
The primary purpose of this lease is to facilitate the construction, operation, management, and maintenance of a new hospital facility. The lease has been granted for an extensive period of 29 years and 11 months, indicating a long-term commitment to developing healthcare infrastructure in the region. The company has confirmed that no special rights, beyond customary lease obligations, have been conferred upon either party.
Disclosure Details
In accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this disclosure has been made. The detailed disclosure document, provided as Annexure-A, outlines the specifics of the agreement, including the names of the parties involved, the purpose of the lease, its duration, and confirms that the transaction does not fall within related party transactions.
Source: BSE
