Artemis Medicare Services Limited — Q3 FY26

Artemis Medicare Services Ltd Q3 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=dYoD7GocBFw Published: 3 months ago

0:01 1 second Ladies and gentlemen, good day and welcome to the Armus Medicare conference call for the 43 and 9 months FI26 results. 0:11 11 seconds As a reminder, all participant lines will be in the listen mode and there will be an opportunity for you to ask questions after the presentation concludes. 0:20 20 seconds Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchdown phone. 0:29 29 seconds I now hand the conference over to Miss Tipika Muraka from Choice Equity Broking. Thank you and over to you ma'am. 0:39 39 seconds Thank you. Good morning all. On behalf of the entire management, I thank all the participants present on the call and 0:46 46 seconds I wish you a warm welcome to the earnings conference call of Artimus Medicare Services Limited. 0:52 52 seconds To guide us through the results today, we have with us senior management team of Medicare presented by Dr. Dina Chakravati, managing director, Mr. 1:00 1 minute Sanjiv Kumar Kotari, CFO, Dr. Vishalora, chief business officer and Rudran, head. 1:08 1 minute, 8 seconds Before we begin, please note that this conference call may contain certain forward-looking statements about the company which are based on the beliefs, opinion and expectation of the company 1:16 1 minute, 16 seconds as on the date of this call. These statements are not a guarantee of future performance and involve certain risk and uncertaintities that are difficult to 1:24 1 minute, 24 seconds predict. So we'll begin the call with the opening speech by Dr. Deina Chakravati, managing director. After this we will open the floor for Q&A. So 1:32 1 minute, 32 seconds with that I will now hand over the call to Dr. Deina to share her opening remark. Over to you ma'am. Thank you. Thank you Deepika. 1:41 1 minute, 41 seconds Uh good morning uh ladies and gentlemen. 1:43 1 minute, 43 seconds We are pleased to share our financial operational performance for the quarter. 1:48 1 minute, 48 seconds Despite a challenging market environment, Artemis Medicare has managed to maintain a steady growth trajectory. This reflects the strength 1:56 1 minute, 56 seconds of our clinical capabilities, ongoing operational improvements and strategic capacity expansions. I will walk you 2:04 2 minutes, 4 seconds through the highlights of our financial performance, operational developments and key strategic initiatives for the quarter. 2:13 2 minutes, 13 seconds For the third quarter, our consolidated revenue from operations stood at INR 272 2:19 2 minutes, 19 seconds crores, reflecting a year-on-year growth of 17.2%. 2:25 2 minutes, 25 seconds This growth was primarily driven by strong performance across our core specialties and improved payer mix. Our 2:33 2 minutes, 33 seconds hospitals have recorded strong patient volumes and we have seen an a uh an increase in more complex high-v valueue 2:39 2 minutes, 39 seconds procedures. This is indicative of both the rising demand for specialized healthc care services and grow growing trust our patients place in hospitals. 2:52 2 minutes, 52 seconds Our EITA for the quarter was INR 52 cr with an EIA margin of 9.1% 2:59 2 minutes, 59 seconds marking a strong improvement compared to the previous year in absolute terms. 3:04 3 minutes, 4 seconds This reflects our focus on operational efficiencies and disciplined cost management. The growth in EITA was 3:12 3 minutes, 12 seconds largely driven by increased patient volumes, higher complexity procedures and improved revenue contribution from 3:21 3 minutes, 21 seconds our international patients. The positive performance across these factors helped us maintain strong numbers. 3:30 3 minutes, 30 seconds Profit after tax for the quarter was INR 22 cr reflecting a year-on-year growth of 7.9%. 3:39 3 minutes, 39 seconds This strong path growth demonstrates our ability to scale efficiently while maintaining financial discipline. For 9 3:49 3 minutes, 49 seconds months, FY26 consolidated revenues were INR 802 crores up 15.1% 3:58 3 minutes, 58 seconds year on year while EIT was at INR 159 crores with a margin of 19.8%. 4:07 4 minutes, 7 seconds Net profit 9 months FY26 was INR 73 crores compared to INR 59 crores in 9 months of FY25. 4:20 4 minutes, 20 seconds Turning to our operational highlights, our flagship facility in Gorram reported an occupancy rate of 62% during the uh 4:29 4 minutes, 29 seconds quarter reflecting continued strong demand and higher complexity in treatments particularly with high 4:37 4 minutes, 37 seconds margins. This compares favorably with the same period last year, highlighting our ability to efficiently manage 4:46 4 minutes, 46 seconds capacity even as demand for our services continues to rise. 4:51 4 minutes, 51 seconds Average revenue per bed for the quarter was INR 84,100, showing an increase of 10% from the same quarter last year. 5:02 5 minutes, 2 seconds This growth in our POB reflects an improved case mix with a higher proportion of complex and high value 5:10 5 minutes, 10 seconds procedures. The increase in our POB also mirrors the enhanced payer mix with a higher share of patients opting for 5:20 5 minutes, 20 seconds premium healthcare. Our international patients re revenue grew by 34.9% 5:27 5 minutes, 27 seconds contributing to 34% of our total revenues. 5:32 5 minutes, 32 seconds This growth is testament to our position as a leader in medical tourism segment. 5:38 5 minutes, 38 seconds We have seen increasing numbers of patients from overseas especially from countries in the Middle East, Africa, 5:46 5 minutes, 46 seconds CIS. Each year we add to the number and as we speak we are catering to 52 international countries for through 5:55 5 minutes, 55 seconds medical tourism. Our global BL brand recognition has also contributed to this growth. Additionally, we continued our 6:04 6 minutes, 4 seconds focus on expanding and enhancing our infrastructure. This aligns with our 6:11 6 minutes, 11 seconds long-term increase uh uh long-term goal to increase our capacity to 2,000 beds 6:17 6 minutes, 17 seconds plus in coming years which include state-of-the-art facilities that will further strengthen our service offerings 6:25 6 minutes, 25 seconds especially in the areas of cardiac care, oncology and organ transplant strategic initiatives and expansions. Um 6:35 6 minutes, 35 seconds we are looking at our commitment to geographic diversification. 6:40 6 minutes, 40 seconds We are on track with the commissioning of our new 300 bed super specialty hospital in Daipur which is expected to begin operations from April May 2026. 6:52 6 minutes, 52 seconds This facility will enhance our presence in central India and enable us to serve a growing patient base in this region. 7:01 7 minutes, 1 second Raipur is today becoming a hot bed for tertiary and quartinary care for all 7:08 7 minutes, 8 seconds healthcare providers in India. The our Rayur facility will be equipped with the latest medical technologies and will 7:17 7 minutes, 17 seconds offer a comprehensive range of specialized services. Furthermore, we are on track with our plans for the 650 7:26 7 minutes, 26 seconds plus bed super specialty hospital in South Delhi. This is a significant milestone in our strategy to expand our 7:34 7 minutes, 34 seconds footprint in key metropolitan areas and tap into growing demands for highquality healthcare services. 7:42 7 minutes, 42 seconds Uh hopefully we should be in a position to soon announce the South Delhi um facility the timelines of which has been 7:51 7 minutes, 51 seconds already announced in our board meeting yesterday. The binding uh MOU for this facility as you are aware has been 7:59 7 minutes, 59 seconds signed and uh we are expecting to sign the definitive management services 8:07 8 minutes, 7 seconds contract uh by the before the end of this financial year. 8:13 8 minutes, 13 seconds Our ongoing investment in digital and um in digital transformation continues to improve both patient care and operational efficiency. 8:22 8 minutes, 22 seconds This quarter we made significant improvement in implementing AI assisted triage systems uh across our facilities. 8:31 8 minutes, 31 seconds These systems are designed to enhance patient experience by reducing weight times and ensuring that patients recover 8:39 8 minutes, 39 seconds um receive prompt attention based on their severity of illness. This technology is already showing positive 8:46 8 minutes, 46 seconds results in improving patient flow and operational productivity. 8:53 8 minutes, 53 seconds As a part of our commitment to sustainability, we received a platinum green building certification during this 9:00 9 minutes quarter. This certification entitles us a 15% increase in our F allowing us to 9:09 9 minutes, 9 seconds add 100 to 125 more beds to our uh gurug ground facility at no extra cost. This 9:16 9 minutes, 16 seconds expansion is uh is uh going to be going to be uh very important uh for further 9:25 9 minutes, 25 seconds enhancing our capacity in our flagship hospital. 9:31 9 minutes, 31 seconds Now looking ahead I would like to emphasize to all of you the uh this coming financial year is going to be a 9:39 9 minutes, 39 seconds very exciting time for all of us. We are looking to increase our bed capacity 9:46 9 minutes, 46 seconds from our existing 700 to 800 that we have today to 2,00 to 2,300 by 2029. 9:56 9 minutes, 56 seconds uh our um announced projects which are Rayur and Saudi Vimhance with 650 beds 10:02 10 minutes, 2 seconds are on track and uh we will come back to you with details of the capeex return of 10:10 10 minutes, 10 seconds investments so on and so forth. Having said that uh as you are aware from our 10:17 10 minutes, 17 seconds uh board meeting uh minutes the board yesterday has uh agreed to a fund raise 10:25 10 minutes, 25 seconds of 700 crores. Uh this 700 crores will be deployed uh to certain new hospitals 10:34 10 minutes, 34 seconds which are in our funnel and a part would also go for organic expansion of artis 10:41 10 minutes, 41 seconds gura and adding extra beds to our vimhance capacity. these details. We 10:47 10 minutes, 47 seconds will come back with the fund deployment um once uh we are in in the right uh right uh time and right stage to do so. 10:57 10 minutes, 57 seconds But all I can say is that u you know this is a momentous uh kind of a moment 11:04 11 minutes, 4 seconds for us whereus will move from 7800 beds to close to 2,300 beds uh by 2029. 11:14 11 minutes, 14 seconds Um so the board has okayed the plan and uh apart from the um announced projects 11:22 11 minutes, 22 seconds uh post uh around the time of fundraising we will come back to you with details of our new project u 11:29 11 minutes, 29 seconds projects. So with this I I open the floor for any questions regarding our 11:36 11 minutes, 36 seconds current results uh our future strategic plan. All I can assure you is that we 11:43 11 minutes, 43 seconds are um in a new phase of growth which you are going to see for the first time 11:49 11 minutes, 49 seconds uh which is beyond uh organic form healthcare. Um we being a quartinary 11:56 11 minutes, 56 seconds healthcare a JCI NABH accredited hospital uh this shift in our expansion 12:04 12 minutes, 4 seconds is going to create a big shift in the healthcare scenario of Delhi NCR is uh 12:12 12 minutes, 12 seconds and in the years to come. So with that I will uh open the floor uh to questions from all of you. 12:24 12 minutes, 24 seconds Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press 12:33 12 minutes, 33 seconds star and one on their touchstone telephone. 12:36 12 minutes, 36 seconds If you wish to withdraw yourself from the question queue, you may press star and two. Participants are requested to use handset while asking a question. 12:47 12 minutes, 47 seconds Ladies and gentlemen, we will wait for a moment while the question queue assembles. 13:07 13 minutes, 7 seconds The first question comes from the line of Himmanu Binani with Anand Rati. Please go ahead. Hello. Hello. 13:16 13 minutes, 16 seconds Hi. Hi ma'am. Thank you for taking my questions and congratulations for a decent set of like number in a seasonally 13:24 13 minutes, 24 seconds like lean quarter. So my my first question is largely on the cape side. So what we have seen in the recent past is 13:32 13 minutes, 32 seconds that the India Europe FDA is like largely done and now with the US statics 13:41 13 minutes, 41 seconds also which has like substantially reduced. 13:44 13 minutes, 44 seconds So how do we see the cost in terms of the equipments which you have been like 13:50 13 minutes, 50 seconds importing? So because the duties have like technically been reduced to mean now. So how do we see that cost savings basically for us going forward? 14:03 14 minutes, 3 seconds Yeah. So it is a very pertinent question Himmanshu and uh I I I mean we have to 14:10 14 minutes, 10 seconds see when does this actually come into effect to be very candid but uh having said that it's a great move for the 14:18 14 minutes, 18 seconds healthcare industry. Not only have the duties uh been reduced in the um medical equipments that we import which is going 14:26 14 minutes, 26 seconds to hugely uh help save our capeex cost duties have also been removed from some of the 17 14:36 14 minutes, 36 seconds costs uh life-saving cancer and other um you know imunological uh drugs which is 14:46 14 minutes, 46 seconds is widely used by the all hospitals. So it is a great news for all of us uh in 14:54 14 minutes, 54 seconds terms of you know containing the cost of healthcare which has been an ongoing exercise for all of us and uh with the 15:03 15 minutes, 3 seconds new shift in policy we are very gung-ho about uh uh this change 15:12 15 minutes, 12 seconds right and man with respect to the recent union budget also where the finance minister has really emphasized on the 15:21 15 minutes, 21 seconds medical value tourism basically in partnership with the private players. So any any thing which you guys hear 15:28 15 minutes, 28 seconds basically from the ministry. So any light on that would be like really helpful. 15:33 15 minutes, 33 seconds So that is something we are really playing to the gallery when it comes to medical value travel. As you are aware 15:41 15 minutes, 41 seconds 30 to 33% of our revenues are from international and let me tell you we choose this. It's not that we do not 15:50 15 minutes, 50 seconds have domestic patients to cover this but we uh choose to do that percentage of revenue through international because 15:57 15 minutes, 57 seconds they are high-end cases they are high profit cases. So we choose to do that and today as we speak we have over 50 16:04 16 minutes, 4 seconds countries from where patients are coming to us. Now with the government's support or and the PMO's initiative of treating 16:12 16 minutes, 12 seconds India and treat by India and with people uh like me being part of Siki and CI 16:20 16 minutes, 20 seconds which is uh moving this uh medical value travel to the next level you are going to constantly see a lot of inflow a lot 16:28 16 minutes, 28 seconds of change. Just to give you an example, we had proposed that for medical tourism, medical visas should used to be 16:37 16 minutes, 37 seconds more expensive than tourist visas. So we had told them that they they should be uh as cheap as tourist visa if not 16:45 16 minutes, 45 seconds cheaper. That thing has already been implemented. We had asked for a turnaround time of uh 7 to 10 days for a medical visa. That has happened today. 16:56 16 minutes, 56 seconds uh missions identified by us through FIK and CI are you know we are doing 17:03 17 minutes, 3 seconds continuous road shows uh to talk about our medical tourism uh piece in India. 17:09 17 minutes, 9 seconds If you look at there is a government managed alphabetically u named you know hospitals uh for 17:17 17 minutes, 17 seconds medical uh tourism where the basic qualification is you at least have to be 17:24 17 minutes, 24 seconds an NABH. So uh where you know where medical tourists can directly log in uh and then get in touch with uh the 17:32 17 minutes, 32 seconds respective hospitals a lot and lot of focus. So today Himmanu let me tell you we are seventh or eighth uh out of 10 in 17:42 17 minutes, 42 seconds terms of volumes in ter in terms of medical tourist and the PMO ministry of 17:49 17 minutes, 49 seconds commerce their thrust is to get us to the top three you know sooner than later 17:57 17 minutes, 57 seconds because they are seeing this as a lowhanging fruit uh and you know the technology the expertise available in 18:04 18 minutes, 4 seconds India is u you at par with United States. Uh they are handpicking hospitals who have that uh uh you know 18:13 18 minutes, 13 seconds wherewithal to provide that level of technology and promoting them uh through various missions. So this is a a great 18:21 18 minutes, 21 seconds moment for uh all of us uh in the MVT space. 18:27 18 minutes, 27 seconds You got it ma'am. Uh that was like really helpful ma'am. I have few more questions. I'll join back in the queue. Thank you. Sure. 18:36 18 minutes, 36 seconds Thank you. The next question comes from the line of Raman Ki with Sequent Investments. Please go ahead. 18:45 18 minutes, 45 seconds Uh hello ma'am. Can you hear me? Yes, very clear. 18:50 18 minutes, 50 seconds Yeah. Uh uh uh excuse me if I'm wrong but I'm fairly new to the company. I just want to understand what's the capex 18:59 18 minutes, 59 seconds for the 300 beds in dryurore and can you provide any funding details with respect to it like how much is that how much is equity? 19:09 19 minutes, 9 seconds Yeah. So uh our sorry you said how much is the capex and what was the second part of the question and uh the capeex uh funding split like how much is that how much is uh equity? 19:21 19 minutes, 21 seconds So uh I this one is uh our capeex for Raipur uh is all done and it is at 100 19:30 19 minutes, 30 seconds crores for 300 beds. As you're aware the land and build it's a partnership actually not a partnership it's a 19:37 19 minutes, 37 seconds long-term rental deal where the P&L is with us and the land and the hospital is 19:44 19 minutes, 44 seconds built by um the our partners for which they will get a fixed rental and u the 19:52 19 minutes, 52 seconds capex is 100 crores which is a mix of approval and uh and the ISC fund which 19:59 19 minutes, 59 seconds is lying with us. So 100 acrovals for 100 crores for 300 beds. I think it's a 20:06 20 minutes, 6 seconds um it's it's a good number in terms of cost per bed and we are looking at high kind of efficiency and margins uh 20:15 20 minutes, 15 seconds in this center and uh my assumption is you will be able to operate this in the first quarter of uh uh FR27. 20:26 20 minutes, 26 seconds So initially for the full year uh how much uh average revenue per bet are you expecting and how are you planning to 20:33 20 minutes, 33 seconds ramp up this over the period of next 2 3 years? 20:37 20 minutes, 37 seconds So we are expecting an a r of 30 to 35 thousand to uh start start uh which is a 20:45 20 minutes, 45 seconds very doable revenue and uh let me just in order to fill you in tell you that ripur does not have the level of quartinary care that we are bringing in. 20:56 20 minutes, 56 seconds uh having said that there are hospitals like care narina and others I mean I'm just naming a few because you would be aware of it but the type of 21:04 21 minutes, 4 seconds infrastructure the type of uh services that we are providing will be the first of its kind and from 30 to 35 we will be ramping up to 40 45 50 55 as we move on. 21:17 21 minutes, 17 seconds So that's the plan and uh we are tracked yes to start in the first quarter of uh the uh next financial year. 21:27 21 minutes, 27 seconds Understood ma'am. And uh uh my second question is with respect to the fund raise plan you mentioned that you are planning to raise 700 crores. How much 21:35 21 minutes, 35 seconds of this will be uh out of this will be uh raised by the promoter group like how much are the promoter planning to infuse 21:44 21 minutes, 44 seconds into the company? Promoter doesn't RDRA decide promoter doesn't plan to infuse anything. It would be in a form of QIP. 21:51 21 minutes, 51 seconds So QIP nothing of warrants or sort of thing. It would be a mix of either QIP QIP or preferential preferentials. 22:00 22 minutes Okay. Understood ma'am. Uh and my last question is uh you mentioned that your international patient revenue uh revenue 22:08 22 minutes, 8 seconds grew by 34.9% for the quarter. Can I have the volume figures for the quarter with respect to international patients? 22:17 22 minutes, 17 seconds So you could you you could volume volume is 89 cr 22:24 22 minutes, 24 seconds 89 cr. And how much was the growth in terms of volume? 22:30 22 minutes, 30 seconds In terms of volume on year basis it is 35% growth. 22:34 22 minutes, 34 seconds 35% volume growth and 35% revenue growth. Yeah. Yeah. Yes. 22:40 22 minutes, 40 seconds Understood. Thank you. You can get in touch with our CFO and Rudra for further details on these numbers because 22:47 22 minutes, 47 seconds sometimes these numbers are not readily available with me as I'm speaking. Yeah. 22:52 22 minutes, 52 seconds Sure. Sure. Ma'am, thank you. Thank you so much. Yeah. 22:59 22 minutes, 59 seconds The next question comes from the line of Sanscar with Capital. Please go ahead. Hello. 23:08 23 minutes, 8 seconds Hello. Morning. Good morning. So I have a few questions. 23:13 23 minutes, 13 seconds First regarding the Raur facility last quarter uh it was a timeline that we would get started by March 2026 and now 23:23 23 minutes, 23 seconds we are uh saying April May. I understand it's only a couple of months but I wanted to understand if there is any 23:30 23 minutes, 30 seconds structural reason behind the delay and can we expect any further delay? 23:34 23 minutes, 34 seconds Actually it was end of March, beginning of April. Now we are saying end of April, beginning of May. It's a one month here and there and the basic 23:43 23 minutes, 43 seconds reason is some of the equipment installation like for instance you know we we had a pet scanner of which we had to get in and it took a little bit 23:51 23 minutes, 51 seconds longer than expected. So for us the project is on time the compliance is all there. The certificates are all done. So 23:59 23 minutes, 59 seconds what we were saying end of March, beginning of April is now end of April, beginning of May. 24:05 24 minutes, 5 seconds Understood. But uh there can be no further delay from that. Uh no like that. 24:10 24 minutes, 10 seconds No, there won't be there won't be there won't be. In fact, I don't know whether uh uh I think you we have not sent but 24:17 24 minutes, 17 seconds we have uh we have the pictures of the uh site which I think you would have seen uh on uh on the presentation uh on 24:27 24 minutes, 27 seconds the current site. So we are we actually done and today in fact before taking the call I took a confirmation from our 24:34 24 minutes, 34 seconds partner Dr. Agarwal and he said that you know it probably would be sooner than later. That's what he has confirmed. 24:41 24 minutes, 41 seconds Yeah. 24:43 24 minutes, 43 seconds Understood. Uh second on the fund raise part uh uh I understand that you're saying uh you said that you would share 24:51 24 minutes, 51 seconds core details later but if you can just give a broad perspective of like 24:57 24 minutes, 57 seconds how will we utilizing the the funds and uh uh like how much 25:05 25 minutes, 5 seconds Yeah, I'll give you a very macro macro view on this and the later uh once we have more handle on it uh RDRA and 25:14 25 minutes, 14 seconds Sanjie will tell you the details. So 700 crores through a uh mixture of QIP and press uh and uh uh is what we are going 25:22 25 minutes, 22 seconds to raise and uh a large part of this uh fund is going for our inorganic 25:29 25 minutes, 29 seconds expansion. So first is if you had looked at the ones which are announced vimhance was announced for 400 beds. So to then 25:38 25 minutes, 38 seconds now we have seen the vimhance can go up to 650 to 700 beds. So the part of the fund will go for that additional fund uh 25:46 25 minutes, 46 seconds additional beds and then there are couple of uh very good green and brown 25:53 25 minutes, 53 seconds field projects in the pipeline and uh this fund would then go to kind of um uh you know fund those new projects. 26:04 26 minutes, 4 seconds uh the uh organic growth in the hospital maybe another additional 200 or maybe 300 beds uh for which we have either 26:12 26 minutes, 12 seconds either got the F or we are in a position to buy the F uh we could be using our internal approval and debts for the 26:19 26 minutes, 19 seconds same. So what I'm trying to say is 700 crores will predominantly go for u new 26:26 26 minutes, 26 seconds projects. A part a part part of it could could possibly be used for u our organic 26:33 26 minutes, 33 seconds growth but that we will see how uh the new projects pan out over a period of time. 26:41 26 minutes, 41 seconds So by new project you mean the Saud Delhi one uh that is the only in the I'm saying there are there's a Saudi one which is announced which is the Vimhance 26:49 26 minutes, 49 seconds the Raipur one which is already announced but as we speak we have in our funnel a brown field and a green field 26:58 26 minutes, 58 seconds which is very strong and we will we are uh in the process of uh looking at it. 27:04 27 minutes, 4 seconds Uh so the 700 crores will go towards these two additional projects which we are uh kind of uh trying to finalize. 27:15 27 minutes, 15 seconds No understood. I understood that there are two projects on South Delhi and raur but what what you are saying that you are have additional projects in your 27:23 27 minutes, 23 seconds funnel around green field. So those are in addition to the south delian raur is that understanding correct or that that's right. So if you if you if 27:32 27 minutes, 32 seconds you if you are uh uh Sanscar if um if you uh understand what we are trying to say is today we are around 750 beds. We 27:41 27 minutes, 41 seconds are looking to grow to 2,100 to 2,300 beds by 2029. Right? 27:48 27 minutes, 48 seconds So from 700 beds which is our Gorga facility we might move on to uh 950 or 27:57 27 minutes, 57 seconds thousand beds here. Okay. And we are adding 200 more beds uh uh in our Vimhance facility which was initially 28:06 28 minutes, 6 seconds supposed to be 450 which is going up to 650 beds. Now the balance beds to move 28:13 28 minutes, 13 seconds up to 2,100 to 2,300 is a combination of green and brownfield projects which we 28:20 28 minutes, 20 seconds are looking at and uh that the fund raise is going to fund this balance to 28:28 28 minutes, 28 seconds give you a macro picture. Uh we will come up with further details once we are u closer to finalization which should happen sooner than later. 28:40 28 minutes, 40 seconds Understood. And uh can you share details around how much capex per bed will do we estimate for the Saudi or will that you 28:50 28 minutes, 50 seconds share that later? Saudi Delhi once uh by uh the before the end of this financial year we are going to be u signing our uh 29:00 29 minutes management contract and uh you know uh to give you a give you a ballpark figure 29:07 29 minutes, 7 seconds but details will come back later cost per bed would be in the range of 75 to 80 lakhs per bed which is actually a 29:15 29 minutes, 15 seconds steal today in South Delhi where cost of beds is northward of 1.75 5 to2 crores. 29:24 29 minutes, 24 seconds Understood. Uh that is because uh uh including that we are constructing the building uh from ground up. Uh 29:32 29 minutes, 32 seconds yes. Yes. Yes. Because the land land is uh is a is a trust land and it's uh you know so you don't have to pay for that 29:41 29 minutes, 41 seconds land. you're paying for the basically paying a rental uh to the trust or not really a rental a revenue share to the trust as we move forward. 29:52 29 minutes, 52 seconds Understood. And this uh additional green field and brown field that you are mentioning on top of the current pipeline when can you share the details 30:00 30 minutes of those like uh we should be able to share the details in the f first quarter of 2026 30:09 30 minutes, 9 seconds end of first quarter 2026 sorry 2020 end of financial end of first quarter of 30:17 30 minutes, 17 seconds 2027 means end of first quarter next year by June June June 2026. By June 2026. 30:27 30 minutes, 27 seconds By June 2026. 30:28 30 minutes, 28 seconds By June of this year. Yeah. By June of this year. Because hopefully by then our uh fund raise activity should be nearing 30:35 30 minutes, 35 seconds to a close and all those disclosures will be made around that time. 30:43 30 minutes, 43 seconds Got it. And uh this fund raise can we expect from the same uh current institution only or uh uh like there's no charity on this? 30:54 30 minutes, 54 seconds We're very different institutional player and uh um it's a QIP. There's going to be proper 31:03 31 minutes, 3 seconds road shows and uh we are and Artimus Yeah. Yeah. Well, I'm sorry. I 31:11 31 minutes, 11 seconds probably didn't get your question. And I'm being corrected by my finance team. Sorry, what did you ask? 31:16 31 minutes, 16 seconds No, no. I'm asking that whether the current investor is only participating again or like is it No, no, no. No, no, no, no, no, no. 31:24 31 minutes, 24 seconds Sanskrat just to give you a brief this is a 700 crores that we are expecting. 31:28 31 minutes, 28 seconds So for a QIP of 700 crores at least five investors has to be there above 250 crores there has to be five five 31:38 31 minutes, 38 seconds investors in institutional investors. So the base would be over and above this. 31:44 31 minutes, 44 seconds Okay, understood. Got it. Uh so uh I have a few uh uh just couple of last questions around the operational side. 31:55 31 minutes, 55 seconds So uh you uh in the last quarter I remember you said that we are expected to reach the occupancy of 70% in the 32:02 32 minutes, 2 seconds current uh facility. So uh any timelines on that when would that happen? 32:09 32 minutes, 9 seconds So yes here I will highlight two things that uh yes we are at 62 63 by the end of uh uh this financial year or the 32:18 32 minutes, 18 seconds beginning of the next financial year we should we should be hovering around 68 70% is one thing so you are going to see 32:25 32 minutes, 25 seconds a lot of cost dissipation uh some of you might and I want to clarify that if you some of you have that question in mind that while our 32:34 32 minutes, 34 seconds revenue topline has moved very significantly the margin margins could have been better and I'm I'm fully aware and we are looking at that because today 32:43 32 minutes, 43 seconds let me tell you we have a lot of cost which is sitting on with us which includes u the number one is the cost of 32:51 32 minutes, 51 seconds the new towers and because you see the overall occupancy is 62% and we will be touching around 68 to 70% by the end of 33:00 33 minutes this financial year. So that cost is going to spread out. The second is um you know a lot of uh uh some of the cost 33:08 33 minutes, 8 seconds of our new facility which is in Raipur is also sitting with us currently. Uh the people who are uh getting the 33:15 33 minutes, 15 seconds project off the ground is also sitting with us. So that will kind of ease out once the Raipur starts by uh uh you know 33:24 33 minutes, 24 seconds uh end of April beginning of May. That is the second piece. The third is we have started some very high-end 33:31 33 minutes, 31 seconds coordinary departments like heart lung transplants uh then uh high-end robotics and so on. So that's an expensive 33:40 33 minutes, 40 seconds manpower grow manpower cost which we which we are seeing a good response and uh the numbers of these cases are going 33:49 33 minutes, 49 seconds to ramp up in the months to come and again efficiencies in the cost are going to uh come in from there. So um this is 33:57 33 minutes, 57 seconds even if you do not have a question or if you have a question in your mind and you're not asking it's something uh as a at a management level I and my team have 34:05 34 minutes, 5 seconds looked at and uh we know that this is going to show much better margins and much better um you know uh ebitas as we 34:15 34 minutes, 15 seconds move forward. So this is just a comment from my side because this is something we know and it's sitting with us and it's going to ease out as we uh move ahead. Yes. 34:25 34 minutes, 25 seconds So, so in a way you are saying going forward can we expect both occupancy improvement as well as margin improvement or uh 34:33 34 minutes, 33 seconds 100% both that that that's the whole whole uh idea. Absolutely. 34:42 34 minutes, 42 seconds Understood. Uh lastly on the our government payer makes uh just wanted to understand are we taking any efforts to 34:51 34 minutes, 51 seconds uh like uh bring it down or like uh or do we expect to maintain that? 34:56 34 minutes, 56 seconds Yeah, we we are we are we're making an effort to bring it down and we are making a very strong effort to bring it 35:03 35 minutes, 3 seconds down and uh definitely not to increase it the percentage. So you are going to see u uh maybe in our next uh next 35:12 35 minutes, 12 seconds quarter results improvement in our ebitas. So we are ready to kind of let go of some of the very low ticket 35:21 35 minutes, 21 seconds government business. Uh we have taken a decision and uh you will see the impact in the next quarter. 35:30 35 minutes, 30 seconds Understood. And uh again just on the occupancy part uh if you can add what are the key reasons behind like a bit 35:38 35 minutes, 38 seconds lower occupancy like any uh are the beds uh uh not are we holding on the bed? 35:44 35 minutes, 44 seconds No no the the low occupancies because we have been constantly opening you know what we did was for tower two and for 35:52 35 minutes, 52 seconds tower three the whole tower the both the towers were ready but the floors we kept opening over a period of time. So what 36:00 36 minutes is happening is uh as we increase the number of beds so the percentage occupancy is hovering around. So once 36:08 36 minutes, 8 seconds now we have opened all the beds and now we are hoping the occupancy to move up from 62% to the next level and we are confident it will happen. 36:18 36 minutes, 18 seconds So are there any current beds still in pipeline that are remaining open or have we like as you can see operational 544. 36:28 36 minutes, 28 seconds So we so sorry sorry we didn't get it. 36:36 36 minutes, 36 seconds So all of them are open uh on 31st of December and that's what you're asking right maybe I didn't get the question correct that all 36:44 36 minutes, 44 seconds I mean by yeah like a census bed is 600 and operational bed 544 and total bed 36:52 36 minutes, 52 seconds capacity is 700. So I'm just wanted to understand if there is a would we be increasing any number of operational beds or are we at full capacity? 37:01 37 minutes, 1 second No no no no when once we reach uh 70% consistently for 3 to 4 months then we might increase uh 100 to 200 more beds 37:10 37 minutes, 10 seconds uh which is already available with us because we have got a 15% extra F that I mentioned in my speech. 37:20 37 minutes, 20 seconds Mr. I would request Yeah. Thank you. Yeah. Yes. 37:27 37 minutes, 27 seconds The next question comes from the line of Sumat Gupta with Antique Stock Broking. Please go ahead. Hello. 37:35 37 minutes, 35 seconds Morning. Hello Sumit. Yes. Hello. Yes. Can you hear me? 37:45 37 minutes, 45 seconds Hello. I'm Hello. Hello. Hello. 37:52 37 minutes, 52 seconds Hello. Oh, I think there is a connectivity. Can you hear me, Sumit? Hello. 38:00 38 minutes Uh yes, we can hear you. Please go ahead. Yeah. Uh so now uh three questions. 38:06 38 minutes, 6 seconds First is on the hospital side. So with this uh government impetus on uh like improving the medical tourism in the 38:13 38 minutes, 13 seconds country and second with the CGHS tri side uh which was done like in previous quarters. So how much 38:22 38 minutes, 22 seconds ARP do you expect over the next one to two years? 38:27 38 minutes, 27 seconds Sorry. So we are going to maintain the increase in the AROP trend the way we have managed four to 6% year on year is 38:36 38 minutes, 36 seconds something we are because we are uh not only increasing our medical value travel but we are also changing our services 38:44 38 minutes, 44 seconds mix adding new services which are more high-end. So we look at you know in that range what we have been delivering so 38:52 38 minutes, 52 seconds far we look in the same range on a year-on-year basis. 38:57 38 minutes, 57 seconds Okay. Because this quarter it was around 10% and if you see 9 months it was around 8%. So and with the strong 39:05 39 minutes, 5 seconds no I I would say for a long-term sustainance 6% yearon year is doable and anything more than that we will try and surprise you with. Yeah. 39:15 39 minutes, 15 seconds Okay. Okay. And uh I think uh one more question on defodals and cardiac care like we have seen subdued performance in both the segments largely in uh defodil. 39:25 39 minutes, 25 seconds So what is the main reason which is going for defod and cardicare? 39:29 39 minutes, 29 seconds No. So one is basically the there are two reasons. One is uh I mean the the centers are doing well. the losses are 39:37 39 minutes, 37 seconds almost gone and uh uh but the problem is uh you know we were these centers were primarily 39:45 39 minutes, 45 seconds uh created to provide health care at a 20 to 25% cheaper than the main hospital 39:52 39 minutes, 52 seconds but you know uh the mindset of people in some of these regions they still prefer to come to a hospital so these guys continue to come to us but having said 40:02 40 minutes, 2 seconds that so while uh we will continue with this model but on a slower perform on a slower uh push and our push has been 40:11 40 minutes, 11 seconds mainly for now like uh now you see the tertiary and the quartinary care uh hospitals uh that we have spoken about. 40:20 40 minutes, 20 seconds Oh, so so let's say for card do you plan to increase it more or or do you plan it to basically gain more traction with keeping the existing center count same? 40:30 40 minutes, 30 seconds Sorry I I missed your question. Hello. 40:33 40 minutes, 33 seconds Yeah. Yeah. Yeah. With respect to cardiac care, do you plan to add more more centers or you plan to improve the realization because 40:42 40 minutes, 42 seconds no currently we are only trying to increase the realization we're trying to change the patient mix. We're trying to get more cash and TPA. So we will that's 40:52 40 minutes, 52 seconds our primary focus and not adding centers because uh you know these cardiac care a lot of empanel patients were coming. So 40:59 40 minutes, 59 seconds my first uh uh thing is to change the mix to more of TPA and cash before we start adding new centers. 41:08 41 minutes, 8 seconds People's concern is that it these centers should act as a hub to the main hospital, right? And largely uh like the bank brand recall should improve. 41:17 41 minutes, 17 seconds However, this particular segment is not is not performing well even after closing the center and gaining traction. 41:24 41 minutes, 24 seconds So no actually s that hub and spoke concept is become because if you see most of these centers are you know this was like 41:32 41 minutes, 32 seconds a stand like uh some of our competitors have a diagnostic standalone business similarly cardiac care business some of 41:40 41 minutes, 40 seconds our competitors have cancer care a standalone business. So these were not basically a hub and spoke model because 41:47 41 minutes, 47 seconds single specialties uh you know apart from sending for a cardiac surgery which is also by and large rare and secondly 41:54 41 minutes, 54 seconds if you see the locations of our cardiac care uh it was basically in tier 2 and tier three cities to cater to the needs 42:02 42 minutes, 2 seconds of you know heart issues which is not available there. So we were yes definitely some awareness definitely 42:11 42 minutes, 11 seconds some um referrals coming from these places but they were not designed to be a only a hubb and spoke mo model but 42:20 42 minutes, 20 seconds they were designed to become a separate business model like uh single specialty separate business model like you know a 42:28 42 minutes, 28 seconds lot of our competitors have in different areas. So but what we were we were looking at is the patient mix patient mix of more empanel than cash and tpa. 42:38 42 minutes, 38 seconds So what only those people are wanting to come to a standalone the rest prefer to probably go to a hospital. So we are 42:45 42 minutes, 45 seconds trying to change that and we're trying to change that the payer mix before we uh add to the number of centers. 42:54 42 minutes, 54 seconds Okay. And what is the core reason for defiles and like not gaining traction because like like this quarter it was around 37% decline on a basis and even 43:02 43 minutes, 2 seconds 33% decline on quarterly basis. So so how should we see this business model? 43:07 43 minutes, 7 seconds No. So the daffodils see what we have done is as a as a business decision not 37% less the what had happened is in the 43:16 43 minutes, 16 seconds daffodil gura we have incorporated it in our new tower as a standalone daffodil 43:22 43 minutes, 22 seconds but it comes in the uh uh standalone gura numbers because uh so if you look 43:31 43 minutes, 31 seconds at daffodils which were happening earlier so this is being reflected in the gura piece because uh duplication we 43:39 43 minutes, 39 seconds we realized and people still wanting to come to the hospitals. So we pulled it in and we so the numbers have not decreased but what you are seeing it is 43:48 43 minutes, 48 seconds in gau not in the uh uh daffodil and uh light numbers. 43:54 43 minutes, 54 seconds Understood. Understood. So what will be the lip for growth or this center? Sorry. Sorry. What will be the life for growth? 44:02 44 minutes, 2 seconds I couldn't get it. What will be the What is the organic growth? Settlement organic organic growth 44:10 44 minutes, 10 seconds yeah for daffodil if if it were not for the daffodil species you are asking correct so jaur we have closed sumit so rest rest rest rest rest rest rest rest 44:18 44 minutes, 18 seconds rest rest rest rest rest rest rest rest rest rest rest rest rest rest rest rest 44:18 44 minutes, 18 seconds rest rest rest rest rest rest rest rest 44:18 44 minutes, 18 seconds rest rest rest rest rest rest rest rest rest rest rest rest rest we have clubbed it over here so if you if you have to see from the from the east of Kalash which is the one daffodils to the other 44:26 44 minutes, 26 seconds what was from the previous year it would be close to a 12% hike uh on a Y basis 44:33 44 minutes, 33 seconds understood understood and lastly on the margin part for defod only. So we were expecting just this one question just one question. Uh so basically on the 44:41 44 minutes, 41 seconds break even part for depals you expecting it to get break even in second last how like uh shall we expect this to break 44:48 44 minutes, 48 seconds even for Q or or is it expected to go to 27? 44:53 44 minutes, 53 seconds Sorry no question again. Sorry break even only break even uh by the end of this financial year the next year. 45:03 45 minutes, 3 seconds Okay. support you are expecting. Yeah. 45:06 45 minutes, 6 seconds Okay. Cool. Thank you ma'am. All the best. Thank you. 45:12 45 minutes, 12 seconds The next question comes from the line of J Prakash Toshniwal with LIC mutual funds. Please go ahead. 45:19 45 minutes, 19 seconds Hi. Uh hi ma'am. Good morning. Just one thing to understand uh on the on the fund raise part to understand. So two things. 45:30 45 minutes, 30 seconds One is this would lead to considering the current IFC uh NCDS which will conver get converted in equity that and this one will lead to a higher dilution. 45:41 45 minutes, 41 seconds So in that scenario so the the CCD has been uh already converted and today uh our chairman is 45:49 45 minutes, 49 seconds at 58% uh 58.3% uh shareholding after conversion and even after the fund raise 45:58 45 minutes, 58 seconds we going to maintain his majority is that is what we have done and we'll come back to you with the details. So he will 46:05 46 minutes, 5 seconds be uh up of 50% uh even the post fund raise. So that we are going to be 100% 46:13 46 minutes, 13 seconds maintaining his majority in the whole piece. 46:17 46 minutes, 17 seconds Interesting. And secondly when when we have now reasonable amount of cash flows let's say potential 200 cr cash flows 46:24 46 minutes, 24 seconds every year for the next two three years considering this 700 cr plus this amount this becomes a very large amount. Do we 46:31 46 minutes, 31 seconds need actually uh this amount this kind of amount fund uh to raise uh to to actually dilute the 46:40 46 minutes, 40 seconds so J Praash what you're going to see is of course we have a lot of headroom for debt also in the next 5 to seven years 46:47 46 minutes, 47 seconds you will see an close to an investment of 1,800 to 1900 cr you know so part of it will be through the fund raise 46:55 46 minutes, 55 seconds balance will be through internal approvals and through debt you know And uh also because some of the projects we 47:03 47 minutes, 3 seconds are looking at um like you know in Delhi these are uh basically uh um trust lands. So these trust lands they need a 47:12 47 minutes, 12 seconds deposit before we start and we cannot use a debt for uh the deposits right. So that is the reason um we are looking at 47:20 47 minutes, 20 seconds uh equity of course uh debt is part of it and our internal approvals. Okay, just last question from my side when we 47:29 47 minutes, 29 seconds start doing like the south for south Delhi project which you are doing on a trust land. Yeah. Uh how much time it takes from let's say to to execute the things and get the things running? 47:40 47 minutes, 40 seconds 2 and 1/2 years is what we are looking at. So we are saying 2029 is when 47:48 47 minutes, 48 seconds moves from today's 700 beds to almost 2,100 to 2,300 beds all projects included. 47:56 47 minutes, 56 seconds Okay. So anytime when we have we have announced we have announced to we'll come back to show our to tell you 48:05 48 minutes, 5 seconds about our fund deployment uh because there is a funnel and we are in the process of finalizing that. So to give 48:12 48 minutes, 12 seconds you a ballpark by 2029 we'll move to 2,000 plus beds as per our commitment to our shareholders from a 700 750 beds today. 48:23 48 minutes, 23 seconds Okay. So when we are raising this fund let's say 700 in next one year there would be drag on equity at least for the next two three years so to say. 48:32 48 minutes, 32 seconds Yes. 48:33 48 minutes, 33 seconds Okay. Perfect. Thanks ma'am. All the best. 48:38 48 minutes, 38 seconds Thank you ladies and gentlemen. You are requested to limit your questions to two per participant as there are several 48:46 48 minutes, 46 seconds people waiting for their turn. The next question comes from the line of Adesh Gosseria with Spark Capital. Please go ahead. 48:56 48 minutes, 56 seconds Hello. 48:56 48 minutes, 56 seconds Hello. Yeah. Yeah. Hi ma'am. Am I audible? Hi. Yes, you are. 49:01 49 minutes, 1 second Uh thank you so much for the opportunity. I had a couple of questions. So first one on continuing with the previous uh participants uh uh question regarding the operational bits. 49:12 49 minutes, 12 seconds So right now we are operating around 544 bit since uh last uh two two three quarters right. So and we have a census 49:21 49 minutes, 21 seconds of 600 and capacity of 700. So are we uh looking how are we looking at it like inching up around what let's say 10 20 49:29 49 minutes, 29 seconds 30 beds each year or this we are planning to keep stable and when uh we expand our uh facility at that time the 49:37 49 minutes, 37 seconds operation beds will go up how are we looking at it so what we are looking at is pertinent question Adish we are looking at a 70% 49:46 49 minutes, 46 seconds constant occupancy for a quarter before we uh move the 545 or a 600 or 700 to 49:53 49 minutes, 53 seconds next level again it'll be in this ratio of uh IPD beds non-ensored beds and this so we we would like to add another 200 50:00 50 minutes to 300 beds in a phased manner taking the bed strength overall the 700 to 1,000 and increasing the inatients 50:10 50 minutes, 10 seconds increasing the non-ensored and and you know the overall kind of beds once we reach a constant uh occupancy of 70% for 50:20 50 minutes, 20 seconds a quarter so this is for the organic growth And the inorganic we have told you two hospitals already been announced 50:26 50 minutes, 26 seconds on track. The first one end of April beginning of May should be operational 2026. The second one we'll come back to 50:35 50 minutes, 35 seconds you hopefully before the end not hopefully definitely before the end of this financial year. the South Delhi 50:42 50 minutes, 42 seconds facility which will become operational in 2029 and a couple of more green and brownfield projects which are in the 50:49 50 minutes, 49 seconds pipeline uh for which we have uh requested the fundra 50:58 50 minutes, 58 seconds so when we say around 800 to 900 beds so those are like operational bits or that 51:04 51 minutes, 4 seconds will be the census bits that we operational bets Okay. Okay. Got it. Uh and the next part 51:13 51 minutes, 13 seconds uh that we are looking at the current fund raise and you are talking the funnel that we have regarding the opportunities. So we are concentrating 51:21 51 minutes, 21 seconds in the northern part of our country or we are planning to you know go towards western and southern part or anything uh 51:28 51 minutes, 28 seconds if you can share some light on the uh Delhi NCR Delhi NCR. 51:34 51 minutes, 34 seconds Okay. We'll continue to focus on Delhi NCR region. 51:37 51 minutes, 37 seconds That's right. Yes. And uh okay so but and uh previously in the conversation 51:44 51 minutes, 44 seconds that we had uh the in we had uh guided for around a peak debt of around 350 to 51:51 51 minutes, 51 seconds 400 odd crores but now this uh new fund raising is coming up. So is there any change in that or like the debt level 51:58 51 minutes, 58 seconds will be reduced or it will be further reduced. The maximum debt we will be at any point will be less than 300 250 to 280. 52:10 52 minutes, 10 seconds Okay. So the debt will on the books will be coming down to 250 to 280 levels. 52:15 52 minutes, 15 seconds Okay. That's too and the employee cost that we have seen going higher in this quarter. So should this be the sustainable like this will be something 52:23 52 minutes, 23 seconds that will be I think I I don't know whether you heard me or not. Employee cost this is there's been 52:31 52 minutes, 31 seconds a peak this is going to be now maintained because we are act because what is going to have the percentage to the top line the top line is going to 52:38 52 minutes, 38 seconds increase because we are at 62% we are going to look at 68 to 70% occupancy and we are also going to look at spreading 52:46 52 minutes, 46 seconds of the cost and some of the cost which is housed with us for the Raipur facility is then going to start getting allocated to Raipur because all the 52:55 52 minutes, 55 seconds project team the operations team are already in place but today the cost is being reflected uh in our manpower cost. 53:03 53 minutes, 3 seconds Okay. Okay. Got it. So, but this will be the peak level that we will see around what 40% there will be an annual appraisal impact of you know four to 5%. 53:14 53 minutes, 14 seconds That's uh that's understood. 53:16 53 minutes, 16 seconds But uh the peak that you have seen is not going to this is like a one time uh and then things are going to ease out. 53:23 53 minutes, 23 seconds Yeah. 53:25 53 minutes, 25 seconds Okay. Got it. Uh I do have a get back in the queue and wait for my chance. Thank you so much. 53:34 53 minutes, 34 seconds Thank you. Thank you. 53:36 53 minutes, 36 seconds Thank you. The next question comes from the line of Yogen Jwani with Mthal Analytics. Please go ahead. 53:44 53 minutes, 44 seconds Hello Yog. Thanks for the opportunity. 53:47 53 minutes, 47 seconds Yeah. Uh thanks for the opportunity ma'am. Uh most of the questions have been answered. just one uh clarification or you know more insights on the uh gur 53:55 53 minutes, 55 seconds facility you mentioned that the F has been received for 15% and there's another F that we look to purchase of 54:03 54 minutes, 3 seconds 2.15 so uh any broad timelines that you have in mind I know you said 70% once we reach occupancy but a broader timeline 54:12 54 minutes, 12 seconds by when do you think such numbers would be achieved and uh what kind of capex will this uh require any broad number 54:20 54 minutes, 20 seconds wall figure that you can share you know for the Gau facility to go up to 1,000 beds again we'll be adding like 54:27 54 minutes, 27 seconds hundreds or maybe you know depending on the need so we will be an year year and a half for us to go to 1,000 beds kix is 54:36 54 minutes, 36 seconds going to be very minimal like how you saw the kix here because most of the uh you know the things are already bought so I would say in the range of hard to 54:45 54 minutes, 45 seconds predict one year down the line but around 65 70 60 65 lakhs for bed is what I would say. 54:53 54 minutes, 53 seconds Got it ma'am. And ma'am on the riers side uh once we start the facility in April May by when do we expect to see break even in this? 55:03 55 minutes, 3 seconds Yeah. 18 to 24 months. 55:07 55 minutes, 7 seconds Okay. Yeah. Thank you. That's it for myself. All the best. 55:13 55 minutes, 13 seconds Thank you. The next question comes from the line of Vant Maker with ICIC securities. Please go ahead. 55:20 55 minutes, 20 seconds Hello, I'm audible. Hello, Vant. Hello. Yes, Vant, you are. 55:25 55 minutes, 25 seconds Thank you for the opportunity. Um, I'm fairly new to the company and I just have one question. Um, can the management uh please bifurcate 55:33 55 minutes, 33 seconds the international uh patient revenue in terms of broader geographic area if that's possible 55:43 55 minutes, 43 seconds from where these main patients are coming is what you're talking about. So they're basically from the UAE, 55:51 55 minutes, 51 seconds uh Africa, they come from CIS, uh they are now coming in from Scandinavia, Canada and of course multiple other small countries scattered all over. 56:04 56 minutes, 4 seconds Uh and just to follow up on this, uh does this change u on a periodic basis this pattern or uh it's broadly the same? 56:12 56 minutes, 12 seconds No. What happens is these numbers increase and we keep adding new countries so that we we are not uh dependent on one region or one country. 56:21 56 minutes, 21 seconds So the numbers keep increasing but every year we take a make an act active effort to open at least two if not three new countries uh to the list. 56:33 56 minutes, 33 seconds Okay, got it. Thank you so much. Thank you. 56:38 56 minutes, 38 seconds The next question comes from the line of Ritika Kandelwal with Perpetual Ventures. Please go ahead. Hello Rita. 56:46 56 minutes, 46 seconds Hi. 56:47 56 minutes, 47 seconds Hi. Can you also give us an update on the other that you have launched like J 56:54 56 minutes, 54 seconds and what kind of investments you are going will be making in these areas. 57:01 57 minutes, 1 second So basically these are facilities they're not much. So we have started heart lung transplants. We have start we have relaunched 57:09 57 minutes, 9 seconds uh high-end robotic surgeries and we have done geriatrics. So in uh investment is nothing really except the 57:17 57 minutes, 17 seconds cost of doctors here and which is what you see in the manpower cost. So because uh this was the ex uh you know as we 57:25 57 minutes, 25 seconds were increasing our beds and towers and infrastructure. So that is included in that cost only. But uh what is uh uh 57:34 57 minutes, 34 seconds today striking out is the cost of manpower in this. But if you look at it, ticket size of a heart lung transplant 57:42 57 minutes, 42 seconds goes anywhere between 35 to 55 lakhs for domestic and more for international. So just to give you an idea and geriatric 57:50 57 minutes, 50 seconds packages are packages which are sold in the range of 5 to 7 lakhs an annual package. So basically what we are trying 57:59 57 minutes, 59 seconds to say is these are low investment high profitability departments which over a period of time 58:07 58 minutes, 7 seconds it doesn't happen overnight but over a period of time uh shows results and uh initially you will see only the cost of 58:15 58 minutes, 15 seconds manpower but there is not too much of investment like robotics we already have the Davinci robot we have couple of 58:23 58 minutes, 23 seconds other robots but we launched high-end robotic surgeries or you know people who are trained in that. So if you look at 58:31 58 minutes, 31 seconds it and you can talk separately to our uh to Rudra you will see the jump in our robotic surgeries you know once once we 58:39 58 minutes, 39 seconds have launched this and for the effect to come you'll have to give us a you know few quarters to see uh how this is impacting our P&Ls. 58:51 58 minutes, 51 seconds Thank you. 58:53 58 minutes, 53 seconds Yeah. So to answer your question simply the investment is only the manpower cost nothing else. 59:03 59 minutes, 3 seconds Thank you. The next question comes from the line of Hanil Badia with a call. Please go ahead. 59:11 59 minutes, 11 seconds Thank you for the opportunity ma'am. Hi ma'am. Thank you for the opportunity and congratulations to our team. Ma'am just some quick question ma'am. the uh the 59:19 59 minutes, 19 seconds investments that we've been doing on the heart and lung transplant and the geriatrics part how scalable can the revenues be and how is the heart and lung transplant with the kins actually 59:27 59 minutes, 27 seconds going on in terms of volumes for patient and how big can this be because kins is actually in the south and I think so north is where we actually plan to take 59:35 59 minutes, 35 seconds most of you know uh h very important today's it's not just volumes so we have done 59:42 59 minutes, 42 seconds the first uh two transplants and people have gone back happy we have done it within almost two months of starting the program. We have a long waiting list of 59:51 59 minutes, 51 seconds patient wanting it. But you know it is a it has to be a cad donation and we're working very actively for people to donate who are brain dead. Not just in 59:59 59 minutes, 59 seconds our country but in North India we are starting we're doing a program but very importantly you'll have to understand it also adds to the capability of a 1:00:08 1 hour, 8 seconds hospital in terms of what they provide the expertise. You know today hospitals are not just about uh uh you know having 1:00:16 1 hour, 16 seconds beds or top and bottom line which is of course very very important but a long-term sustainability of hospitals 1:00:24 1 hour, 24 seconds will also rely on your capabilities especially with medical value travel becoming a key player from the PMO as as 1:00:32 1 hour, 32 seconds a soft power coming into our country. So you know whom do people choose to go into? I can promise you there are only a 1:00:41 1 hour, 41 seconds handful of hospitals who do medical value travel and this is based on the capabilities that you know you sign 1:00:48 1 hour, 48 seconds contracts with their governments what all you do so on and so forth. So while it will definitely add to the numbers 1:00:54 1 hour, 54 seconds and volumes what it will also do is uh give you a positioning statement that you know you are capable of doing you 1:01:02 1 hour, 1 minute, 2 seconds know delivering the last mile to every patient. 1:01:06 1 hour, 1 minute, 6 seconds Okay. Now I'm also on the cardiac centers part. We did plan to buy Philips a residual steak. Uh so any progress there? Have we bought it or u the stocks are still in progress? 1:01:16 1 hour, 1 minute, 16 seconds Yeah, we are uh no so the offer is there from Phillips and uh we are debating the pros and cons of it and uh we'll come 1:01:24 1 hour, 1 minute, 24 seconds back to you once we have a clear decision. Ideally uh you know my view is currently that you know why pay an extra 1:01:33 1 hour, 1 minute, 33 seconds and you know so we are just looking at it uh what will it imply on a long-term 1:01:41 1 hour, 1 minute, 41 seconds game but uh and we will come back to you with uh more details on this ma'am lastly on the hospitals on the O 1:01:49 1 hour, 1 minute, 49 seconds andM hospital side we have an ONM contract in Mauritius so we also have had plans to expand into another facility that the same hospital had set 1:01:57 1 hour, 1 minute, 57 seconds up. So any progress there and any more ON&M hospitals in pipeline either in international geography or we already said by May the Caval 1:02:06 1 hour, 2 minutes, 6 seconds Hospital in Maicius we have already signed it should get get operational but that you know we get a a fee for our brand and fee for our support. So we do 1:02:15 1 hour, 2 minutes, 15 seconds not run the P&L there unlike the P we run the entire P&L like we'll be running for Vimhands and Rayur that's a difference the whole P&L is with us for 1:02:24 1 hour, 2 minutes, 24 seconds Maicius we are paid our loyalty uh monthly loyalty for our um name and uh our expertise that we 1:02:34 1 hour, 2 minutes, 34 seconds provide actually I meant here just a royalty coming to us. Okay. 1:02:39 1 hour, 2 minutes, 39 seconds M ma'am actually what I meant here was we get a lot of international references here and we can get the patient without have to paying any uh fee or any 1:02:47 1 hour, 2 minutes, 47 seconds commission to the agent. So that must have seen that we have that we have already you know we we have one of the 1:02:54 1 hour, 2 minutes, 54 seconds exclusivity I think we and Apollo are the only ones who have the exclusivity with ministry of health of Mauritius for 1:03:01 1 hour, 3 minutes, 1 second uh treating their patients abroad and uh uh we get a lot of patients from the ministry and we are also as we speak we 1:03:09 1 hour, 3 minutes, 9 seconds have started our own uh information center and second opinion centers in our own hospitals there for those cases uh 1:03:16 1 hour, 3 minutes, 16 seconds which cannot be done in our local hospitals in Maicius they come to us for treatment here so that's an ongoing thing 1:03:24 1 hour, 3 minutes, 24 seconds okay thank you thanks a lot ma'am and wish all the best thank you thank you the next question comes from the line of 1:03:33 1 hour, 3 minutes, 33 seconds Raman KV with sequin investments please go ahead uh thank you for the uh thank you ma'am 1:03:40 1 hour, 3 minutes, 40 seconds for the followup I just want to understand uh Sorry, your voice is breaking. 1:03:52 1 hour, 3 minutes, 52 seconds Background disturbance from your end. Uh, can you hear me now? Hello. Uh, can you please use your handset? 1:04:00 1 hour, 4 minutes Yes. One minute. Yeah. 1:04:03 1 hour, 4 minutes, 3 seconds Uh, hello sir. Can you hear me? Hello ma'am. Can you hear me? 1:04:08 1 hour, 4 minutes, 8 seconds Yeah. So I just want to understand uh future plans with respect to the uh uh 1:04:15 1 hour, 4 minutes, 15 seconds the new hospitals you said uh with respect to the group hospital we have 15% F approval which you in the 1:04:25 1 hour, 4 minutes, 25 seconds presentation mentioned can do 100 you can expand more 100 beds what will be the capex cost for these and uh one is 1:04:33 1 hour, 4 minutes, 33 seconds on that aspect and if you can provide some more details on the South Delhi hospital 1:04:40 1 hour, 4 minutes, 40 seconds uh if possible like you plan to have 600 plus beds in South Delhi. So can you just 1:04:49 1 hour, 4 minutes, 49 seconds cost for this 100 125 beds is going to be you know in the range of 40 to 50 lakhs because the plinth is already made 1:04:56 1 hour, 4 minutes, 56 seconds we just have to you know add this uh floors and the beds. So uh not more than that and for the Saudi hospital that's a very 1:05:05 1 hour, 5 minutes, 5 seconds exciting story for us. We are looking to start construction uh by end of April, beginning of May that is the next financial year. We are looking at two 1:05:14 1 hour, 5 minutes, 14 seconds and a half years to finish the construction. It is a state-of-the-art coordinary care hospital with uh 650 1:05:21 1 hour, 5 minutes, 21 seconds beds in two phases starting with 400 going then 450 and then going on to 200 more. uh a facility which we'll have 1:05:30 1 hour, 5 minutes, 30 seconds from you know this all kinds of transplants uh then um your heart and lung surgeries oncology radiotherapy pet 1:05:39 1 hour, 5 minutes, 39 seconds CT and everything that you can think of in a cinary care hospital and uh it will have some of the country's best 1:05:47 1 hour, 5 minutes, 47 seconds specialists working here and uh it will be a hospital very uh high on medtech uh 1:05:55 1 hour, 5 minutes, 55 seconds very very much AI enabled in areas years. So you know which will add to the efficiency. So and it is going to be 1:06:05 1 hour, 6 minutes, 5 seconds jewell in the crown for us is something I can tell you. 1:06:10 1 hour, 6 minutes, 10 seconds And what's the uh approximated for this uh South Delhi expansion? 1:06:18 1 hour, 6 minutes, 18 seconds So we'll come back to you with details once we sign but in the range of 70 75 lakhs per bed is what we're looking at. 1:06:25 1 hour, 6 minutes, 25 seconds Understood. Thank you. Thank you. 1:06:30 1 hour, 6 minutes, 30 seconds Thank you. Ladies and gentlemen, this will be our last question. It's from the line of Ades Goelia with Spark Capital. 1:06:38 1 hour, 6 minutes, 38 seconds Please go ahead. Hello. 1:06:42 1 hour, 6 minutes, 42 seconds Uh thank you for the opportunity. Uh yeah, thank you for the followup again. 1:06:46 1 hour, 6 minutes, 46 seconds Uh uh just continuing on the previous participants question first. Uh when you said that the South Delhi facility we 1:06:54 1 hour, 6 minutes, 54 seconds are coming up with 650 beds. So when you say 400, 450 and then 650. So that you're talking about operationalizing 1:07:01 1 hour, 7 minutes, 1 second the beds, right? Or the capacity will be coming up itself in first let's say 400 then there going to be two towers. One will 1:07:09 1 hour, 7 minutes, 9 seconds have 450 and the other will have 200 beds. The towers will be ready at the same time. Operationalization not 400 actually 450 and then 200. 1:07:18 1 hour, 7 minutes, 18 seconds That's that's how the plan is. 1:07:21 1 hour, 7 minutes, 21 seconds So in FI29 we will see the operational beds at 450. Yes. 1:07:28 1 hour, 7 minutes, 28 seconds Okay. And any idea on the AROP that we will be seeing over there like will it be lower? 1:07:34 1 hour, 7 minutes, 34 seconds No. So you know ARPOP predictions we are not uh giving right now. We are not giving a guidance but you can look at 1:07:42 1 hour, 7 minutes, 42 seconds our current AROBS here which is one of the finest in Delhi NCR. uh we will have a similar mix of domestic and international and high-end patients and 1:07:51 1 hour, 7 minutes, 51 seconds uh we will be you know in sync if not better than all our competitors around. 1:07:56 1 hour, 7 minutes, 56 seconds So the two two big hospitals around not really around but uh in that area will be Apollo hospital in the Bris and Max 1:08:04 1 hour, 8 minutes, 4 seconds hospital sake. So this hospital is also going to break uh many many years of 1:08:12 1 hour, 8 minutes, 12 seconds monopoly by just two brands because it is positioned in a manner which is you know kind of right where they are. Yeah. 1:08:22 1 hour, 8 minutes, 22 seconds Okay, that's really great to hear. And just the last question on the Raur facility the same thing that uh on the just on the operational beds if you can 1:08:31 1 hour, 8 minutes, 31 seconds clarify from the 300 in the first year like in FI27 how much how many beds will be operationalized? 1:08:37 1 hour, 8 minutes, 37 seconds So we are we are starting uh uh to start with 200 250 uh uh so we are starting with 200 and uh 1:08:47 1 hour, 8 minutes, 47 seconds 200 beds and going on to 300 beds in an in a year year and a half time. 1:08:52 1 hour, 8 minutes, 52 seconds Okay. Okay. Oh, great. That's uh Yeah, that's it from my man. Thank you so much, sir. Thank you. 1:09:02 1 hour, 9 minutes, 2 seconds Thank you. Ladies and gentlemen, that was the last question for today. I now hand the conference over to Mr. Rudra Achara for closing comments. 1:09:13 1 hour, 9 minutes, 13 seconds Hi all, I would like to thank everyone for joining this call. I hope that we have been able to respond to all your queries and questions adequately. For 1:09:22 1 hour, 9 minutes, 22 seconds any further information, we would like like you to be please in touch with me and the investor relations uh team. Stay 1:09:30 1 hour, 9 minutes, 30 seconds safe, stay healthy and thank you once again for joining us. Thank you. 1:09:37 1 hour, 9 minutes, 37 seconds Thank you on behalf of Arthamus Medicare and Choiceuki Broking. That concludes this conference. Thank you for joining 1:09:45 1 hour, 9 minutes, 45 seconds us and you may now disconnect your lines.