The company had 4,750 operational beds, including operations and management (O&M) contracts, as of March 2025. It aims for 20% additional capacity, which is 900-1,000 beds by FY26 and another 1,000 by FY27.
In February 2025, Fortis Healthcare’s wholly owned subsidiary, Fortis Hospotel, acquired Shrimann Superspecialty Hospital in Jalandhar, which had 220 beds. The company has received an occupancy certificate (OC) for 150 beds in Noida, which will be operational soon. A 200-bed facility will be opened in Manesar, a 220-bed expansion in Fortis Memorial Research Institute and another 140-bed facility in BG Road, for which OC is expected.
In the March 2025 quarter, revenue grew 12.4% year-on-year to Rs2,007.2 crore, driven by strong momentum in the hospital business, which constituted 85% of the revenue. The hospital segment recorded 14% YoY revenue growth, supported by a 5.5% increase in occupancy rates and an 8.4% rise in the average revenue per occupied bed (ARPOB) while the performance of the diagnostics division remained subdued amid a rebranding exercise.
Consolidated EBITDA margin improved by 40 basis points year-on-year to 21.7%. However, the net profit fell by 26.1% to Rs 188 crore due to a one-off impairment charge of Rs 53.6 crore.
The diagnostics segment, which was rebranded to Agilus from SRL two years ago, remains a work in progress with just 3% year-on-year increase in revenue in the March quarter. Fortis expects a stronger performance from FY26, given that the exercise of brand transitioning and costs related to it are now behind. It expects double-digit revenue growth for the division with a 23-25% margin in a couple of years.BNP Paribas has maintained ‘Outperform’ on Fortis, raising the hospital segment’s EBITDA estimate by 3% for FY26-28. JM Financial expects Fortis to show the strongest ARPOB growth, driven by brownfield expansions and increased metro presence. “With the on-going efforts to improve the profitability of underperforming units, combined with significant brownfield expansion, the company is poised to achieve over 15% topline growth over the next three years, along with 200-300 bps margin (improvement)”, JM Financial said in a report.
