The Peerless Group is looking at a turnover of Rs. 1,000 crore over the next two fiscals banking on its healthcare services to spearhead the company’s growth in the coming years.
“We are coming up with the SK Roy Institute of Institute of Oncology Services for cancer treatment along with organ transplant. There are other plans as well,” said Partha Sarathi Bhattacharya, chairman Peerless Group and former chairman of Coal India.
The new cancer institute will be housed within the existing Peerless Hospital complex in east Calcutta.
“In the last two and half years all our subsidiary companies have made profit and a large share is from the hospital sector.”
The company also has plans to acquire more hospitals in and around the city to expand its footprint in the healthcare sector.
Talking to the media after the 91st annual general meeting of Peerless Group held on Wednesday, the managing director Jayanta Roy said with the completion of the cancer hospital, the in-patient strength of the hospital will see a substantial increase.
“We expect to launch the cancer hospital by April 2026, taking our total bed strength to 670 from the existing 500. The Peerless Hospital currently has around 45 outpatients department. Once the SRIOS is completed, the number of functional out-patients department will reach more than double the current figure. The new facility will also have eight operation theatres.
Apart from healthcare, the Peerless group also has footprints in the hospitality, real estate, housing, investment, restaurants and security services among others.
“Till now all our business units were operating in a disparate manner. We have launched an integrated website which will offer all our services to the customer depending on their need for the day,” said Supriyo Sinha, director business transformation and corporate strategy.
Sinha said apart from Calcutta, Peerless also runs a business hotel in Hyderabad and a leisure hotel in Port Blair.
“Any services offered by our companies will be available on PeerlessOne, designed with the needs of the customer in mind. From booking an OPD appointment to a room in a hotel or an evening out, everything will be just a few clicks away,” said Sinha.
The group which had seen an 11 per cent decline in profit before tax (from 2014-19) till about two years ago, now has seen 18 per growth in PBT. Between the years 2014-19, the group revenue grew by four per cent. Since 2022-23, the group revenue has grown by 16 per cent. The Peerless group has seen an additional Rs. 100 crore revenue growth every year since 2022-23. The group also recorded PBT growth since 2022-23 by Rs. 100 crore.
