Lotus Eye Care Hospital to set up 3 units by Oct

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Lotus Eye Care Hospital to set up 3 units by Oct

In an interview with CNBC-TV18, Selva K Sundaramurthy, MD, Lotus Eye Care Hospital, spoke about the latest happenings in his company and sector.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Lotus Eye Care Hospital reports Rs 4.70 crore turnover for quarter ended Jun 2010 ALSO READ See latest News about Lotus Eye Care See previous management interviews See what other Experts & Brokerages are saying about Lotus Eye Care Lotus Eye Care BSE | NSE 31/05/12 Are Mutual Funds betting on Lotus Eye Care?

In an interview with CNBC-TV18, Selva K Sundaramurthy, MD, Lotus Eye Care Hospital , spoke about the latest happenings in his company and sector.

Here is a verbatim transcript of the exclusive interview with Selva K Sundaramurthy on CNBC-TV18. Also watch the accompanying video.

Q: I know you have denied in the past, but there has been consistent buzz still that you have had some dialogue with Religare to sell off Lotus Care. Can you confirm this?

A: It is absolutely false.

Q: So you have not had discussions with any parties at all to sell part or whole stake in Lotus Care?

A: None of them.

Q: You have indicated some capex plans though in terms of bringing the capacity up in your hospitals and you have a very comfortable position in terms of promoter holding. Would you not look to divest part of your stake in order to raise some capital and do that?

A: We do have capital in hand and we are expanding our service activities. We are setting up three more units, which will be coming to function probably in a couple of months time. So, we already have four units functioning and we will be adding another three units shortly, by October.

Q: What kind of capex cost could that involve and what kind of capital do you have in hand at this point?

A: We are not going for our own building and land, but we are going for rented premises in all the three units which are going to come up. The two facilities; one the additional centre in Salem and one near Coimbatore, Mettupalayam near Ooty both are outpatient facilities. Our board of directors have recommended setup full-fledged unit in Cochin in Kerala. So, the outlay for these expenses would be from our resources and also we have the money in hand.

Q: Once all these facilities come into play from Coimbatore and Salem, what would be your total bed capacity and what kind of an annual revenue run rate would you have then?

A: For the year 2009-10, for the Q1, our overall operational growth was around 20%, whereas the overall growth was of 9%. So, we are doing okay.