Antara Senior Care to invest Rs 500 crore to expand capacity fourfold

The company plans to ramp up its care home bed capacity to 2,000 beds and develop 10–12 new senior living communities.

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Antara Senior Care, a wholly owned subsidiary of Analjit Singh’s Max India, plans to invest Rs 500 crore over the next few years to significantly expand its footprint in India’s burgeoning senior care market, the company’s top executive told Moneycontrol.

The company, which currently operates across senior living and assisted care verticals, is targeting a fourfold increase in its care home bed capacity—from 500 to 2,000 beds—and the development of 10–12 new senior living communities.

The Funding

The expansion will be funded through a mix of internal accruals and external capital. Max India recently launched a Rs 125 crore rights issue to support Antara’s growth, with a follow-on fundraise of Rs 125–150 crore expected within the next 3–4 months.

“We’ve already invested Rs 400–500 crore to build the current platform,” said Rajit Mehta, MD and CEO of Antara Senior Care, in an interview. “The rights issue will help us fund the next phase of growth, and we’re also open to raising capital at the subsidiary level.”

Antara operates two core businesses: Residences for Seniors, which includes thoughtfully designed communities in Dehradun and Noida, and Assisted Care Services, which offers care homes, home-based care, and a growing e-commerce platform for senior wellness products under the AGEasy brand.

The company currently manages around 300 operational beds across Gurugram, Bengaluru, and Noida, with another 200 expected by August 2025 in Chennai and Bengaluru, bringing the total to around 500 beds. This includes facilities for assisted living, transition care, and memory care.

It is also expanding its product vertical, which now includes over 300 stock-keeping units, or SKUs, ranging from mobility aids to chronic care solutions. The AGEasy platform, launched in August 2023, has seen rapid traction and is expected to be a key growth driver.

Antara revenues stood at Rs 195 crore in FY24, with an EBITDA loss of Rs 34 crore. For nine months ended December 31, Antara had revenue of Rs 119 crore and a net loss of Rs 94.3 crore. It has a consolidated net worth of Rs 400 crore as of December 2024.

The Growth Strategy

Antara’s growth strategy is capital-light, relying on partnerships with landowners and developers rather than acquiring land outright. “We prefer to work with developers who have land. We design, construct, and operate the communities, but we don’t block capital in land,” Mehta said.

The company is also seeing strong demand for senior living post-COVID, with its Gurugram project selling 270 out of 292 units within months of launch. A second phase in Gurugram and a new project in Chandigarh are already in the pipeline.
Antara’s integrated model—combining real estate, healthcare, and lifestyle services—is positioning it as a leader in India’s nascent but fast-growing senior care sector. With India’s senior population projected to reach 350 million by 2050, the company is betting on a demographic shift and changing consumer attitudes to drive long-term growth.

The senior living industry in India is still evolving and maturing compared to more developed markets. However, there is a growing awareness of the need for specialised senior care services, and both domestic and international companies are investing in the sector.

“Antara has now become a complete integrated care ecosystem for seniors,” Mehta said. “So whatever seniors need, depending on their age or medical condition, we’ll be able to provide,” he added.