Apollo Hospitals Enterprise

“You will see an improvement in the established as well as looking at new hospitals, of course, because they will achieve; we have one which is in Hyderabad, which is already at EBITDA breakeven. The other three will break even by the end of the year.”

“I think the prime most thing that we should always remember in this business is that we strongly believe with time this business would move into a higher single-digit number. In next three to four years, we can expect this to move in that range.”

“We are reasonably confident that we will continue to grow at least at this base level.”

“All of this put together have 1,400 beds, 1,395 census beds, which will all have to get operationalized now. We will commission it slowly, but all blocks are ready, and as the demand grows, we will keep opening it up.”

“So yes, we are sticking to what we have said. If you look at the next 12 months, Gurugram will be actually launched in the coming quarter, first point.”

“Then you have some time gap before we launch some of the others, which will all come mostly in 2030 and 2031, rather.”

“With that, if you look at it, we would have launched all the seven hospitals which we have said between 2026 and 2027 that we have to launch, right, which is Pune, Kolkata, Hyderabad, Delhi, Sarjapur, and Gurugram.”

“Beyond that, as you look at FY28 and '29, Jubilee Hills expansion is there on, already working on full fledge. Secunderabad, there is an existing hospital which we are expanding. There is a hospital in Bangalore and Mysore which is expanding, and Indore.”

“Within this, healthcare services business reported revenues of INR 3,900 crore, delivering a strong growth of 23% year-on-year. Established hospitals' revenues grew by 19% to INR 3,765 crore, and New hospitals contributed INR 135 crore during the quarter.”

“CONGO-T revenues grew 22% year-on-year. These specialties constituted 61% of inpatient revenues, reinforcing the strength of our clinical offering across complex care.”

“Moving to Apollo HealthCo, the business supported revenues of INR 3,286 crore, a 23% year-on-year growth. EBITDA grew by 75% to INR 193 crore.”

“An important milestone this quarter was 24/7 turning cash positive, with digital cash profit at INR 1 crore compared to a loss of INR 39 crore in the corresponding quarter last year.”

“Apollo HealthCo reported a PAT of INR 118 crore during Q2 FY27, compared to INR 73 crore in the corresponding quarter last year, demonstrating continuous improvement in profitability.”

“Inpatient volumes overall saw a growth of 14% year-on-year, and occupancy at 73%.”

“International patient revenues grew by 37% year-on-year. Our international patient business is gaining significant momentum, increasingly with patients from across the world choosing India for advanced clinical capabilities, quality of care, and affordability.”

“So yes, we have seen a good rebound coming from Bangladesh.”

“Apart from neighbouring countries, Africa has been one area that we have been focusing on significantly. We have information centers now in many geographies like Tanzania, Kenya, etc.”

“We have seen this, the overall growth has been 35%-36% this quarter on IPS, and we are hoping to continue to see the momentum build up as we move forward as well.”

“Consolidated EBITDA stood at INR 1,191 crore, registering a growth of 29% year-on-year, with margins improving to 15.6% from 14.9% in quarter two last year.”

“Within healthcare services, EBITDA increased 20% year-on-year to INR 937 crore and margins at 24%. However, established hospitals delivered an EBITDA of INR 971 crore, reflecting 22% year-on-year growth, with margins improving by 61 basis points to 25.8% compared to the same period last year.”

“New hospitals reported an EBITDA loss of INR 35 crore, reflecting the ongoing ramp-up of recently commissioned capacity and the hiring of new doctors.”

“EBITDA margins improved 14.3% from 9.5% quarter two last year. AHLL reported a PAT of INR 26 crore compared to a loss of INR 4 crore in Q2 FY26.”

“intent is to be on par with the offline pharmacy to begin with. And then once, the objective is not just to look at it as pure digital business, but as an omni business with much more synergies between the two groups, the margin structure should start looking up. Give us around two more quarters before this starts playing out.”

“We believe the transaction is an important step towards a scaled integrated healthcare platform and unlocking long-term value for the shareholders. We expect the demerger to be completed in quarter four of FY27.”

“Yes. We are on time on the schedule of activities as planned. We expect to complete it and then announce it in the last quarter of 2027, as stated earlier.”

“There is also a bonus which was paid to the employees this year that resulted into a little bit of dip in the percentile, and apart from the fact that there are one-time scheme and integration-related expenses.”

“So, you would expect certain more expenses to come in into Q3 and Q4, and that is just one reason we thought that it would be rightful to say that we should be hitting a number INR 1,500 plus crore for this year.”

“We are not growing at that speed. In fact, we are consolidating. Given the new consultation paper that IRDAI has put out, some of the economics of this business will be undergoing a very radical change.”

“We are awaiting the revised MRPs and then analyze the impact. There will be some impact, but we will be quantifying it going forward once it is effective from November 9.”

“I think the product pricing was a proxy for the service earlier, but we hope to move to service pricing, and we continue to stay in touch with the Government. The Government has represented its case very strongly in the Supreme Court, and I think that this engagement will continue.”

“On a consolidated basis, revenues grew by 23% year-on-year to INR 7,615 crore during Q2 FY27.”

“Insurance and self-pay continue to form the core of our payer mix, together contributing 82% of inpatient revenues.”

“With all three businesses reporting healthy growth and improved profitability, consolidated PAT increased by 32% year-on-year to INR 630 crore during Q2 FY27.”

“For the first half of FY27, consolidated revenues stood at INR 14,547 crore, growing 22% year-on-year. EBITDA increased by 29% to INR 2,268 crore. Consolidated PAT grew by 33% to INR 1,211 crore.”

“Our focus remains on sustaining growth in healthcare services, scaling our digital and retail platforms profitably, and progressing our expansion program with disciplined capital allocation.”