FY26 Baseline KPIs (YTD Jan 2026 actuals · FY26 full-year estimates)
+23% YoY
Revenue
₹500 Cr
FY26E | ₹381 Cr YTD (10M)
FY29 target: ₹780 Cr
+34% YoY
EBITDA
₹95 Cr
19.0% margin | FY26E
FY29 target: ₹187 Cr (24%)
+7% YoY
ARPOB / day
₹49K
Blended | IP: ₹35,188
FY29 target: ₹70K (+43%)
+11pp YoY
Occupancy
63%
572 operating beds
FY29 target: 70% / 700 beds
+20% YoY
IP Discharges
25,283
FY26E | 18,476 YTD (10M)
FY29 target: 32,500
Complex Care Mix
36%
Core transformation lever
FY29 target: 62% (+26pp)
Financial Trajectory (FY22 actuals → FY29 targets)
Revenue & EBITDA (INR Crore)
Historical actuals + transformation plan projections — shaded region = projected
EBITDA Margin %
Target: 24% by FY29 via case mix shift
Key Operational Metrics
ARPOB Trajectory (INR/day)
From ₹33.4K (FY22) → ₹70K (FY29)
Complex Care Mix (%)
Target: 62% by FY29 — the core transformation lever
Occupancy & Bed Expansion
Beds: 572 → 700 | Occupancy: 63% → 70%
3-Year Phase Milestones
Phase 1 — Scope & Transform
FY27Revenue
₹575 Cr
EBITDA
₹115 Cr
Complex Mix
42%
ARPOB
₹54K
- LINAC commissioned & AERB approved
- 5–6 senior oncologists recruited
- 620 beds operational
- AI-based EMR deployed
- Molecular diagnostics lab repurposed
- Capex: INR 150 Cr deployed
Phase 2 — Scale-Up
FY28Revenue
₹675 Cr
EBITDA
₹149 Cr
Complex Mix
52%
ARPOB
₹62K
- Multiple LINACs operational
- SBRT & SRS capabilities live
- Genetics & Rare Disease Centre functional
- 650 beds operational
- Delhi site under construction (M7–18)
- Capex: INR 100 Cr deployed
Phase 3 — Market Leadership
FY29Revenue
₹780 Cr
EBITDA
₹187 Cr
Complex Mix
62%
ARPOB
₹70K
- 700 beds at 70% occupancy
- 200+ BMTs per year
- Delhi Qutub Centre open (Q1 FY29)
- 24% EBITDA margin achieved
- NRI & international referrals: ₹35 Cr
- Capex: INR 50 Cr deployed
Capital Deployment Plan — INR 300 Cr (FY27–FY29)
Total Capex
₹300 Cr
Equity
₹100 Cr
Debt
₹200 Cr
- Radiation Oncology (2 LINACs)₹70 Cr23%
- Oncology Infrastructure & Beds₹65 Cr22%
- Working Capital & Physician Ramp₹50 Cr17%
- Imaging & Diagnostics (PET-CT)₹35 Cr12%
- BMT & Transplant Expansion₹35 Cr12%
- Genetics & Rare Disease Lab₹25 Cr8%
- IT & Digital (AI EMR)₹20 Cr7%
Capital yield (FY29 incremental EBITDA / invested): 31% ·
Incremental EBITDA FY29 vs FY26: ₹92 Cr
Revenue Bridge: FY26 → FY29 (INR Crore)
Growth decomposition by stream
Key Risks
● HIGH
Execution Speed
Parallel workstreams across infra, recruitment & regulatory. Needs dedicated PMO + weekly steering committee.
● HIGH
Physician Recruitment
5–6 senior oncologists in 18 months vs. typical 24–36 month cycle. Premium comp + international search needed.
● MEDIUM
ARPOB Ramp
₹49K → ₹70K requires 43% improvement. Depends on case mix shift, not just pricing.
● MEDIUM
Construction Delays
Delhi monsoon & approval timelines could slip Q1 FY29 target. 9% contingency budgeted (₹13 Cr).
● LOW
Govt Scheme Dilution
ECHS / Ayushman volumes could pressure blended ARPOB. Mitigation: volume caps, premium pay focus.