14 March 2024 — According to Kites Senior Care, the money would help it expand into three more cities in Southern India and strengthen its position in areas like Bengaluru, Hyderabad, and Chennai. According to Rajagopal, a cofounder of the firm, the development and growth plan calls for a total expenditure of Rs 65 crore, of which Pai would contribute Rs 45 crore, and the founders will contribute the rest of Rs 20 crore.
Speaking about the business’s income forecasts, Rajagopal said that the firm anticipates a four-fold increase in revenue to around Rs 175 crore after the complete implementation of the investment and the achievement of 80 to 85% occupancy in its 1098 beds.
Approximately The Bengaluru-based firm has also said that it plans to use the freshly collected funds to increase its bed capacity—which is now 340—to over 1,000 during the next six quarters. Additionally, it wants to finish the pilot extension of its tech platform, “senior shield,” by using Titan Fastrack’s wearable technology.
Conclusion
The market for senior care is estimated to be worth over $20 billion and is expanding at a pace of more than 10% a year. The senior business is still in its infancy, according to the firm, even though India’s senior population is expected to treble by 2050 and account for one-fifth of the country’s overall population.
