Narayana Hrudayalaya Limited (NSE: NH | BSE: 539551) has announced, through its stock exchange filing dated April 5, 2025, that it has entered into a significant Operation and Management Agreement with M/s. Kammavari Sangham, a registered society under the Karnataka Societies Registration Act, 1960. This agreement will allow Narayana Hrudayalaya to operate, manage, and provide healthcare services in a proposed 110-bed hospital to be constructed in Bengaluru South.

Purpose of the Agreement

The primary purpose of the agreement is to enable Narayana Hrudayalaya to operate and manage the new hospital, once constructed, under its own brand and healthcare expertise. According to the disclosure, this project is aimed to commence operations during FY 2026–27.

M/s. Kammavari Sangham will construct the hospital infrastructure, while Narayana Hrudayalaya will handle operations, maintenance, and all healthcare delivery at the facility.

This move reflects Narayana Hrudayalaya’s continued focus on asset-light expansion through strategic long-term management tie-ups with infrastructure partners across the country.

Key Terms of the Agreement

Here are the essential details of the arrangement as per SEBI’s disclosure format:

The hospital will be fully managed by Narayana Hrudayalaya under the terms of this binding Operation & Management Agreement, with no exchange of shares or capital involved.

Relationship Between Parties

There is no promoter or group company relationship between Narayana Hrudayalaya and M/s. Kammavari Sangham. The transaction does not fall under related-party transactions, and there is no conflict of interest or board nominee appointment resulting from the agreement.

Narayana has also confirmed that the agreement has been executed at arm’s length, meaning both parties have negotiated independently and fairly.

Regulatory Compliance

The disclosure was made in compliance with:

• Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

• Para B of Part A of Schedule III

• SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023

• SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024

These circulars and regulations mandate transparency for material agreements that may have long-term impact on the business of listed entities.

Significance for Narayana Hrudayalaya

This move underlines Narayana’s expansion strategy of tapping tier-1 and tier-2 markets through O&M models rather than investing directly in real estate. It allows the company to focus on clinical operations and quality patient care, while partners manage capital-intensive infrastructure development.

The Bengaluru South location further strengthens Narayana’s footprint in Karnataka, where it already enjoys brand recognition and medical expertise across multiple specialties.

The upcoming hospital will potentially add 110 beds to Narayana’s operational portfolio, enhancing its ability to cater to patients in southern Bengaluru and surrounding regions.

Company Information

Narayana Hrudayalaya Limited

• CIN: L85110KA2000PLC027497

• BSE Scrip Codes: 539551 (Equity), 975516, 976418 (Debt)

• NSE Symbol: NH

• Corporate Office: Bengaluru, Karnataka

• Website: www.narayanahealth.org

• Email: investorrelations@narayanahealth.org

Contact Person:
Sridhar S.
Group Company Secretary, Legal & Compliance Officer

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