Virinchi Commissions Additional 50 Beds At Banjara Hills Facility In Telangana
Virinchi Limited announces commissioning of additional 50 economy beds at Banjara Hills facility, Hyderabad, Telangana. With this, a total of 400 beds will be in operation at the Banjara Hills facility and the chain of hospitals will have 600 operational beds. The healthcare operations of the company over the past three quarters have jumped significantly with the revenue and EBITDA increasing by over 41% and 31% respectively as compared to first three quarters of last year, reporting total healthcare revenue of Rs.102.14 crores and EBITDA of Rs. 18.38 crores for the first three quarters of FY 2018-19.
The additional capacity beds was supported through internal accruals and debt from ECL Finance Limited (Edelweiss) as already declared to stock exchanges in our earlier communique dated 14th June 2018 and as part of the terms and conditions of the loan, the promoters have offered further Rs. 4 crores worth of shares of the company held by them as collateral security to the said debt.