NSEPress Release21h ago · 21 Sept 2026, 07:06 pm
Press Release
Rays of Belief Limited · MOMSBELIEF
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Rays of Belief Limited has acquired 100% of City Pro Group Inc., a New York-based pediatric healthcare services provider, to strengthen its presence in the U.S. pediatric developmental-care market.
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Governance Concern1/10
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Full Announcement
Rays of Belief Limited has informed the Exchange regarding a press release dated September 21, 2026, titled "Press release- Rays of Belief Ltd (Mom s Belief) Expands U.S. Developmental Care Platform with Acquisition of City Pro Group"".
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Rays of Belief Limited
Date: 21.09.2026
To, To,
The Manager The Manager – Listing Department
Listing Department National Stock Exchange of India Limited
BSE Limited Exchange Plaza, C-1, Block G Bandra Kurla
Phiroze Jeejeebhoy Towers Complex, Bandra (E) Mumbai – 400051
Dalal Street, Mumbai – 400001.
Sub: Press release-“Rays of Belief Ltd (Mom’s Belief) Expands U.S. Developmental Care
Platform with Acquisition of City Pro Group”.
Dear Sir/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, please find enclosed herewith a Press Release dated September 21, 2026, titled “Rays of Belief
Ltd (Mom’s Belief) Expands U.S. Developmental Care Platform with Acquisition of City Pro Group.
The Press Release is enclosed for your information and dissemination on the Stock Exchange website.
Kindly take the above information on record.
Thanking you,
Yours faithfully,
For Rays of Belief Limited
(Formerly known as Rays of Belief Private Limited)
Mayank Bhargava
Company Secretary
ICSI Mem. No. A53418
Rays of Belief Limited
(Formerly known as Rays of Belief Private Limited)
Corp office - 18/1, T Block, Near DLF City Club, DLF Phase III, Sector 24, Gurugram 122001,INDIA
Tel: 0124-4075498; Email: contact@momsbelief.com
Regd. Office – J-1919, Basement, Chittranjan Park, New Delhi – 110 019;
CIN: U85110DL2017PLC322623
Rays of Belief Ltd (Mom’s Belief) Expands U.S. Developmental
Care Platform with Acquisition of City Pro Group
Acquisition strengthens U.S. presence and creates a two-way India–U.S. capability exchange
Gurugram | September 21, 2026: Rays of Belief Limited, operating primarily under the Mom’s Belief
brand, has completed the acquisition of 100% of City Pro Group Inc. (CPG) through its wholly owned
subsidiary, Mom’s Belief US Inc. CPG has become a step-down wholly owned subsidiary of Rays of
Belief Limited, effective September 18, 2026.
Key Transaction Highlights
• 100% acquisition of City Pro Group Inc., a New York-based pediatric healthcare services provider.
• Established in 1995, CPG brings nearly three decades of experience in pediatric Early Intervention
and special education.
• US$11.43 million (~₹97.27 Cr) revenue in FY25, with operations across New York.
• CPG operates across Bronx, Brooklyn, Manhattan and Long Island (Plainview).
• The acquisition strengthens Mom’s Belief’s presence in the U.S. pediatric developmental-care
market.
Strategic Significance
• Rays of Belief Ltd. (Mom’s Belief) reported FY26 consolidated revenue of ₹81.66 Cr, while City Pro
Group reported FY25 revenue of US$11.43 Mn (~₹97.27 Cr). The acquisition brings together two
established revenue-generating platforms, significantly enhancing the Group’s scale and
positioning it for a meaningful increase in consolidated revenue as the businesses are integrated.
• Expands Mom’s Belief’s U.S. operating footprint through an established local platform.
• Adds Early Intervention and special education capabilities to the Group’s international
healthcare platform.
• Creates a structured platform for cross-border knowledge sharing between India and the U.S.
• Provides an opportunity to strengthen the Group’s 136-centre Indian network through relevant
clinical and operating practices.
• Creates a potential pathway for selected Mom’s Belief programmes to be evaluated for the U.S.
market.
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What City Pro Group Brings to Mom’s Belief
• Established Early Intervention platform with capabilities across evaluations, service coordination,
special education and therapeutic interventions.
• Multidisciplinary clinical expertise spanning speech and language therapy, occupational therapy,
physical therapy and behavioural services.
• Clinical supervision and provider training capabilities developed within New York’s structured Early
Intervention ecosystem.
• Strong family-engagement practices, including parent training, workshops and practical support
for caregivers.
• Established community relationships across hospitals, physicians, schools, daycare and
preschool programmes and other community organisations.
India–U.S. Capability Exchange
The acquisition is designed to create a two-way exchange of clinical and operating capabilities
between CPG in New York and Mom’s Belief’s 136-centre network in India.
CPG → India
• Clinical supervision frameworks
• Provider training and professional development
• Multidisciplinary care coordination
• Family-engagement practices
• Service coordination and clinical documentation
• Community referral development
• Technology-enabled operating workflows
Mom’s Belief → U.S.
• Evaluation of selected India-developed operating models
• Potential introduction of the Family Support Program in New York
• Family-focused support models designed to provide greater continuity beyond direct intervention
• Any adoption or introduction of these practices will remain subject to applicable clinical, regulatory
and operating requirements.
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Management Commentary
Mr. Nitin Bindlish, Managing Director, Rays of Belief Limited – Mom’s Belief, said: “City Pro Group gives
us an established operating platform inside the New York Early Intervention ecosystem, experienced
clinical teams, community relationships and practices developed over many years.
India remains at the heart of our growth plans, while this acquisition provides an opportunity to
accelerate organisational learning through international capabilities. We intend to evaluate relevant
elements of CPG’s clinical supervision, professional development, family engagement, service
coordination and community partnerships across our 136 centres in India.
Equally important, this is not intended to be a one-way transfer. We will also evaluate selected Mom’s
Belief offerings, including our Family Support Program, for the U.S. market, subject to local clinical and
regulatory requirements.”
About Rays of Belief Ltd (Mom’s Belief)
Rays of Belief Limited operates primarily under the Mom’s Belief brand and provides personalised
intervention programmes for children with neurodevelopmental needs. Its multidisciplinary services
include Early Intervention, occupational therapy, speech and language intervention, behavioural
support, special education, parent guidance and family-support programmes.
Mom’s Belief operates 136 centres across India and is developing a broader developmental-care
ecosystem combining clinical services, family participation, professional development, technology
and structured care delivery.
In FY26, the company achieved ₹81.66 Cr in Revenue, ₹4.96 Cr in Net Profit, and ₹3.21 EPS.
About City Pro Group
City Pro Group Inc. (CPG) was founded in 1995 and is headquartered in New York, USA. The company
provides pediatric Early Intervention and school-based special education services through its
operations in the Bronx, Brooklyn, Manhattan and Long Island (Plainview). CPG is an approved New York
State Department of Health Early Intervention Program provider and a New York State Medicaid-
enrolled provider.
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Disclaimer
This document contains forward-looking statements, which are not historical facts and are subject to
risks and uncertainties such as government actions, local developments, and technological risks. The
Company is not responsible for any actions taken based on these statements and does not commit to
publicly updating them to reflect future events or circumstances.
Corporate Communication Advisors
ORIM CONNECT
+(91) 82085 63201
letsconnect@orim.in
www.orim.in/orim-connect/
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