Artemis Medicare Expands Raipur Stone Clinic with 300+ Beds

Key Takeaways from Artemis Medicare Expansion:

• Artemis Medicare partners with Raipur Stone Clinic to develop a new hospital in Raipur, Chhattisgarh, adding over 300 beds to its network. 
• Raipur Stone Clinic will build the hospital, while Artemis will invest Rs 110 crore in medical equipment and capital expenses.
• The hospital will be managed jointly under a 15-year agreement, with revenue and costs shared between both parties.
• This partnership supports Artemis Medicare’s strategy to expand its healthcare services and cater to the growing demand for quality healthcare across India.

The partnership will be carried out under a Long Term Operations & Management and Medical Services Agreement, aimed at jointly managing a new hospital in Raipur, Chhattisgarh.

Currently, the Company operates a total of 842 beds across its facilities, including a 700+ bed super speciality hospital in the Delhi NCR region, which is accredited by both JCI and NABH. The Company also runs a joint venture with Philips under the Artemis Cardiac Care brand. 

The new hospital in Raipur will be developed by Raipur Stone Clinic, which will be responsible for building the infrastructure. The Company, on the other hand, will invest approximately Rs 110 crore in medical equipment and related capital expenses. The hospital is expected to be completed in about one year and will add more than 300 beds to the Artemis Hospital Group once operational.

The operations of the hospital will be managed jointly on a revenue and cost-sharing basis, with both parties working together to deliver medical services. The initial agreement is set for 15 years, with an option for a further 15-year extension at the Company's discretion.

The expansion is aligned with the Company’s strategy to grow its presence in key locations and meet the increasing demand for quality healthcare services across India. The partnership with Raipur Stone Clinic marks a significant step in the Company's efforts to strengthen its footprint and provide world-class healthcare to a broader population.

About Artemis Medicare Services Limited:

Artemis Hospital, established in 2007, is Gurgaon’s first JCI and NABH accredited multispecialty healthcare facility, spread across 9 acres with over 550 beds. Renowned for its state-of-the-art infrastructure and research-driven medical practices, Artemis offers a comprehensive range of inpatient and outpatient services. The hospital combines cutting-edge technology with the expertise of top doctors, ensuring world-class care in a patient-centric environment. Known for its advanced medical and surgical interventions, Artemis has become one of India’s most trusted healthcare providers, delivering quality, affordable healthcare while prioritising patient comfort and well-being.

Key Takeaways from the Acquisition

• Prestige Group buys 22,135 sq. meters of land in Mira Bhayandar, Mumbai, to build residencies near the Western Express Highway.
• The company will deliver approximately one million sq. ft. of residential carpet area in this development, with a strategic thrust on growth in key metropolitan markets.
• With this investment of approximately ₹291.58 crore, Prestige Group is looking to create a long-term value through high-quality urban home building.

The acquired land would be developed into a residential project covering nearly 1 million sq. ft carpet area. This acquisition pursues the vision and strategy of the Prestige Group to develop transformative living spaces that cater to the needs of modern urban residents and add long-term value to communities and stakeholders.

Speaking on the acquisition, Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, commented, “We are thrilled to announce the expansion of our presence in Mumbai with the acquisition of this land parcel together with all rights. This development, with a projected 1 million square feet of carpet area, underscores our commitment to strengthening our footprint in the Mumbai region and meeting the evolving demands of modern urban living. This strategic addition will further our vision of creating transformative spaces that deliver long-term value to our communities and stakeholders.”

About Prestige Group

Prestige Group is one of the top realty firms in India with a legacy of more than three decades and experience in all the residential, office, retail, hospitality, and property management segments. They have already completed 302 projects and have a total developable area of 193 million sq, spread over more than 13 major locations in India. with over five decades of architectural excellence ft. as of September 2024. Prestige Group, known for quality and innovation, enjoys CRISIL DA1+ and ICRA A+ ratings, testifying to its high standing in the industry and commitment to excellence.

Key Takeaways from the Merger

• The company has sanctioned the merger of Paperboat Apps, Nazara mentioned. Kiddopia's early learning products have thus gotten a place under Nazara's roof in order to optimise synergies and strengthen the market position.
• Nazara reported healthy financials with ₹569 crore in revenue, EBITDA ₹50.1 crore, and PAT ₹41.7 crore from continuing operations.
• Nazara raised ₹900 crore through a preferential equity issue, enhanced its portfolio with strategic investments in Pokerbaazi, Absolute Sports (Sportskeeda), and esports community platform Stan.

Commenting on the merger, Nazara Technologies Founder and Managing Director, Nitish Mittersain, stated, “The merger of Paperboat Apps with Nazara is a pivotal step in our mission to lead the gamified early learning space with Kiddopia. This step also supports our focus on integrating core gaming operations to enhance cash flow flexibility, which we can leverage for further growth, both organic and inorganic."

In H1 FY25, Nazara reported impressive financials with revenues of ₹569.0 crore, an EBITDA of ₹50.1 crore, and a PAT of ₹41.7 crore from continued operations. The company is dedicated to sustainable and profitable growth through strategic mergers and acquisitions. Nazara in the quarter Q2 FY25 raised successfully a sum of ₹ 900 crore from a preferential equity issue by prominent investors, deepened their holding in the skill-based gaming platform, Pokerbaazi scaled up their stakes in Absolute Sports (Sportskeeda) and acquired minority stakes in the fast-growing platform, Stan.

About Nazara Technologies Limited

Nazara Technologies is India’s only listed gaming and esports company with majority ownership in multiple gaming and sports brands across India, the US, and other global markets. In esports, Nazara owns NODWIN Gaming and Sportskeeda/Pro Football Network, along with popular gaming IPs like Kiddopia and World Cricket Championship. Nazara also operates Datawrkz, an ad tech company, providing monetisation solutions to its brands and clients. Nazara continues to lead with a robust portfolio in interactive gaming, esports, and early learning platforms.

About Paperboat Apps

Paperboat Apps is the company behind Kiddopia. It offers a gamified learning platform that is engaging for young children and encompasses a vast number of educational activities that help children build essential skills with fun and interactiveness. Kiddopia thus establishes itself as a leader in early childhood education.

Key Takeaways from Crown Lifters Orders:

• Crown Lifters has ordered two 260 MT crawler cranes, with deliveries scheduled for November 2024 and January 2025.
• The first crane is already contracted for Larsen & Toubro’s Hydrocarbon division, while the second unit is in final discussions with multiple clients.
• The total cost for the two cranes is Rs 11.575 crore, bringing the company’s crane capital expenditure for FY 2024 to Rs 54.575 crore.
• The purchase responds to increasing demand for heavy construction equipment in sectors like cement, steel, solar, refinery, ports, airports, and metro projects.

The first crane has already been contracted for use with Larsen & Toubro, Hydrocarbon division, while the second unit is currently under final discussions with multiple clients.

The total cost for these two cranes is estimated at Rs 11.575 crore, bringing the company’s total crane capital expenditure for the current financial year to Rs 54.575 crore. This purchase comes in response to a growing demand for heavy construction equipment across sectors such as cement, steel, solar, refinery, ports, airports, and metro projects. 

The company continues to expand its fleet in line with the increasing need for rental heavy machinery, particularly in the post-monsoon period.

About Crown Lifters Limited:

Crown Lifters Limited, established in 1984 by Shri Kamruddin V Jaria, is a leading equipment rental company based in Mumbai, India. Specialising in the hire of construction machinery, the company has grown significantly over the years, offering cranes ranging from 75 MT to 800 MT. Under the leadership of Karim K. Jaria, Chairman & Managing Director since 2007, and Nizar N. Rajwani, CFO & Executive Director, Crown Lifters has expanded its fleet and operations. The company serves major sectors including infrastructure, energy, and cement, and is listed on the National Stock Exchange. Crown Lifters is committed to providing cutting-edge technology and exceptional service to its clients.