Bajaj Group, an Indian conglomerate, is reportedly preparing to enter the healthcare industry by establishing a chain of hospitals.
This is claimed to be the company’s first significant diversification since patriarch Rahul Bajaj’s death in February 2022.
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As per a Business Standard report, Nirav Bajaj, who currently oversees corporate strategy at the steel manufacturer Mukand, is expected to lead the healthcare venture.
Although investment details into the new healthcare venture are still being finalised, Bajaj Group plans to inject funds in stages, contingent upon the venture’s achievements.
The healthcare business has already established an office in Lower Parel, Mumbai.
However, it remains unclear whether the Bajaj family office will directly invest in the venture or if the group’s companies will provide the necessary capital.
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By GlobalDataFounded by Jamnalal Bajaj, the group has a diverse portfolio, which includes Bajaj Holdings and Investments, Bajaj Auto, Mukand Industries, Hercules Hoists, Bajaj Finserv, and Bajaj Electricals.
The hospital sector in India is experiencing growth, with leading private hospital chains planning significant expansions for fiscal year (FY) 2025, following a rise in average revenue per occupied bed (ARPOB) in FY 2024, Business Standard noted.
This further indicates a growing demand for healthcare services across the country.
In March, the Bajaj Group pledged approximately Rs50bn ($596m) to social impact initiatives over the next five years, focusing on skill development under the banner ‘Bajaj Beyond’.
This initiative aims to benefit more than 20 million young people by equipping them with skills to seize employment and entrepreneurial opportunities in India’s burgeoning economy, the report added.
Over the past decade, the Bajaj Group has contributed nearly Rs40bn to various CSR [corporate social responsibility] initiatives, with an emphasis on healthcare, skilling and education, livelihood, water conservation, and other developmental areas.
