KIMS shares rise after acquiring 13.24% stake in Kondapur Healthcare

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Shares of Krishna Institute of Medical Sciences (KIMS) traded nearly 2% higher on the NSE on September 12, a day after it made a Rs 20-crore investment by further acquiring an equity stake of 13.24% in Kondapur Healthcare Limited.

The Hyderabad-based KIMS said in a regulatory filing that its stake in Kondapur Healthcare now stands at 19.86%. Kondapur Healthcare is yet to commence its operations.

The investment is in line with KIMS’s expansion plans. The company is looking to expand its footprint in Karnataka, Maharashtra, Tamil Nadu, and Odisha.

Analysts at Edelweiss have a positive outlook on KIMS and expect the company’s revenue to grow 25% in the next three years. They said that the company’s expansion plans and focus on operational efficiency will drive growth.

For the quarter ended June 2023, KIMS reported a net profit of Rs 133.3 crore, up 13% from the same period last year. The company’s revenue grew 11% to Rs 666.5 crore.

KIMS is a multi-specialty hospital chain with presence across Telangana, Maharashtra, and Andhra Pradesh. The company has a total bed capacity of 3,975.


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