Financial Performance for Q1 FY27

Consolidated Results:

  • Revenue from operations: ₹287.32 crores, representing a year-on-year growth of 12.7%.
  • EBITDA: ₹61.82 crores with an EBITDA margin of 21.5%.
  • Profit After Tax (PAT): ₹31.44 crores, showing a year-on-year growth of 48.3%.

Standalone Gurgaon Performance:

  • Revenue showed a top-line growth of 15.4% year-on-year.

Operational Highlights

Gurgaon Flagship Hospital:

  • Occupancy for the quarter was 65.7%.
  • Average Revenue Per Occupied Bed (ARPOB) increased to ₹85,690.
  • Growth was supported by sustained demand across key specialties: cardiology, oncology, neurosciences, and orthopedics.
  • Improvement was driven by better case mix and higher contribution from complex procedures.

New Facility - Artemis Shanti Hospital, Raipur:

  • Commenced operations during Q1 FY27 as a 300-bed multi-specialty tertiary care hospital.
  • Soft launch began with OPD services starting July 9, 2026.
  • Operating theaters and cath labs became operational on July 27, 2026.
  • Total capex for Raipur: ₹120 crores, with 80% already spent.
  • PET-CT installation is underway, and radiotherapy unit is expected by end of August 2026.
  • Expected break-even timeline: 15-18 months with approximately ₹20 crores of overall operating loss.
  • Insurance empanelment expected in 8-10 weeks; interim cashless arrangements are in place.

Expansion Plans

Tower IV Expansion - Gurgaon:

  • Planned 200+ bed expansion within the same campus.
  • Will focus on advanced tertiary and quaternary pediatric care and advanced gynecological/obstetrics services.
  • Capex per bed: ₹55 lakhs including additional parking facilities.
  • Total project cost: approximately ₹120 crores.
  • Timeline: 18-22 months for full operationalization.
  • Expected to contribute to margin improvement beyond current 21%.

Overall Capacity Roadmap:

  • Current operational beds: 700 in Gurgaon.
  • With Tower IV and other announced projects (Raipur, South Delhi facilities), total bed capacity target: 2,000 operational beds by 2029-2030.

Funding and Capital Structure

QIP Approval:

  • Shareholders approved an enabling resolution for a proposed ₹700 crores QIP.
  • Funds intended for brownfield acquisitions preferably with close to EBITDA break-even or positive EBITDAs.
  • Timeline for QIP: 6-8 months pending asset finalization.
  • Management emphasized minimizing dilution and maximizing return on investment.

Capex Plan:

  • Total planned capex for next three years (FY27-FY29): ₹800 crores.
  • Breakdown:
  • Raipur: ₹120 crores
  • VIMHANS: ₹350-360 crores (excluding deposit portion)
  • Tower IV: ₹120 crores
  • Multi-level parking: ₹70-80 crores
  • Replacement capex: ₹100-120 crores
  • Additional deposit of ₹250 crores for VIMHANS, of which ₹130 crores already paid.

International Business

  • International patient mix: 27% of total business in Q1 despite West Asian war impact.
  • No single regional dependency with patients from Middle East, Africa, CIS, and other markets.
  • Target for Q2:接近 30% international patient mix.

Management Commentary and Guidance

  • Gurgaon margin guidance: Expected to reach 23-24% over next 2-3 years.
  • Occupancy expected to reach 70% by Q2 FY27.
  • Raipur break-even expected in 15-18 months with ₹20 crores operating loss.
  • Tower IV expected to break even in 8-10 months and reach 50% occupancy in first 6 months.
  • Long-term revenue potential: ₹2,000 crores from Gurgaon facility alone at 85% census with 4-5% ARPOB growth.

Other Business Units

  • Daffodils and Artemis Lite centers serving as hub-and-spoke model.
  • Strategy includes potential consolidation of smaller centers for operational efficiency.
  • Focus remains on tertiary and quaternary healthcare as core growth engine.