Thakral Increases Stake in Gurugram Healthcare Project

Singapore, May 29 (PTI) Singapore-listed Thakral Corporation Limited has completed the acquisition of an additional 81.6-per cent stake in TIL Investments Private Limited for SGD 93.9 million, bringing its total ownership in the 21-acre Gurugram mixed-use healthcare-led development to 95.3 per cent.

The acquisition, completed through Thakral's wholly-owned subsidiary, Paramount Investments Pte Limited (PIPL), follows shareholders' approval at the Extraordinary General Meeting held on April 30. It was announced on Thursday.

The increased ownership gives Thakral full strategic control over the 21-acre site with development potential of more than 2.5 million sq. ft in New Gurugram, one of India's leading real estate markets. Gurugram is the primary office hub within Delhi-NCR, accounting for 62 per cent of total office leasing in the region, and is a preferred destination for multinational and Fortune 500 companies.

The city has an active luxury-housing market, with strong interest from national developers, and has witnessed 29 per cent CAGR price growth in the residential market from 2023 to 2025. The site is well connected to the Indira Gandhi International (IGI) Airport as well as other major infrastructure nodes, and is in the vicinity of other upcoming premium residential developments and infrastructure projects.


The site will be developed in phases, beginning with a hospital and wellness centre. The hospital is planned to be operated by an experienced healthcare partner, with Thakral participating as landowner and rental income to be based on a share of revenue.

Thakral said it will not be responsible for running clinical operations. The residential component will be delivered with a third-party developer responsible for execution and sales, again on a revenue-sharing basis. The model limits the group's exposure to development and operational risk while retaining its share of revenue from the underlying land.

The wellness centre is designed to complement the hospital and serve residents and working professionals in the wider Gurugram catchment where this healthcare facility is located, which is close to many of the newer residential clusters. Together, the hospital and wellness centre will anchor the site, with subsequent residential and commercial phases drawing on the catchment built around them.

Thakral CEO and Executive Director Inderbethal Singh Thakral said: "We are excited to play a meaningful role in Gurugram's next phase of development, with a deliberate, multi-pronged approach across hospitals, wellness, residential and commercial uses on a single 21-acre site. India will become a strong growth engine in addition to our lifestyle business, Japan properties and existing investment portfolio, positioning Thakral for multi-year growth."