Thakral Corporation Ltd has completed the acquisition of an additional 81.6% stake in TIL Investments Private Limited, increasing its ownership in the Gurugram mixed-use healthcare-led development to 95.3%. The acquisition, valued at S$93.9m, was finalised through a combination of S$50m in cash and the issuance of 24,217,108 new shares at S$1.8128 each.
The project, located on a 21-acre site in New Gurugram, is set to begin its execution phase, anchored by a hospital and wellness centre. These will be followed by residential and commercial components developed through revenue-sharing partnerships. The remaining 4.7% of TIL is held by Platinum Healthcare.
Inderbethal Singh Thakral, CEO and Executive Director of Thakral, expressed enthusiasm for the project, stating, “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.”
The development is strategically positioned in Gurugram, a key office hub within Delhi NCR, known for its luxury housing market and proximity to major infrastructure. The phased development model aims to limit Thakral’s exposure to development and operational risks whilst ensuring revenue from the land.
This acquisition strengthens Thakral’s strategic control over the site, which has a development potential of over 2.5 million square feet, and aligns with the company’s broader investment strategy in India, a market projected to see significant economic growth in the coming years.
