• Prayagraj PPP project: The company secured a public-private partnership mandate to develop a 550-bed multi-super specialty hospital in Prayagraj for ₹200 crore, supported by a ₹76.52 crore government concession. The facility is expected to commission by January 2029, targeting ₹75 crore in FY30 revenue and scaling to ₹250 crore with 18% to 20% EBITDA margins by year three.
• Bed capacity expansion: Total operational capacity is targeted to expand from 3,610 beds to 4,740 beds this calendar year, further scaling to 5,740 beds in FY28 and approximately 6,300 beds by January 2029.
• Funding and liquidity: The expansion is funded via internal accruals at a low capital expenditure of ₹35 lakh to ₹36 lakh per bed. Long-term debt stands at approximately ₹25 crore against ₹400 crore in unencumbered fixed deposits and current account balances, with headroom for equity dilution from an 82.9% promoter holding.
• Uttar Pradesh expansion: Capital allocation is dedicated solely to healthcare, with regional capacity in Uttar Pradesh expanding to 1,260 beds across Agra, Gorakhpur, and Prayagraj to address significant demand-supply gaps.