Apollo Hospitals to add 2,300 beds in 8 places

CHENNAI: Apollo Hospitals consolidated revenues grew by 14% YoY to Rs 4,847 cr. The healthcare services revenues surged 12% YoY, to Rs 2,547 cr. The healthcare major is on track to add 2,300 beds across eight locations, that will entail an investment of Rs 3,400 crore over the next three financial years.

Revenues of Apollo HealthCo went up 17% YoY to Rs 1,945 cr; GMV of Apollo 247 at Rs 726 crore, a 16% QoQ growth. Apollo Diagnostics revenues went past Rs 120 cr in a quarter, seeing a growth of 19% YoY. It is at run rate of Rs 500 cr annually.

Consolidated EBITDA before 24/7 Operating Cost and ESOP charge stood at Rs. 825 cr; 11% YoY growth while Apollo HealthCo is on track for cash break even in Q4 FY24. The consolidated PAT for healthcare services at Rs 314 cr saw a 11% YoY growth while the consolidated PAT (including Apollo HealthCo and AHLL) stood at Rs 233 cr, 14% YoY growth. The company announced a 250-bed new hospital in Pune (expandable to 425 beds in 2 years) at an overall cost of Rs 675 cr. This hospital is expected to be commissioned by Q1 FY25.

It has also expanded footprint in eastern India with the acquisition of a 225-bed hospital in Kolkata, which can be scaled to 325 beds. As on September 30, 2023, Apollo Hospitals had 7,765 operating beds across the network (excluding AHLL & managed beds), out of which 5,051 is occupied beds. The overall occupancy for hospitals was at 68% vs 62% in the trailing quarter, aided by a robust increase in patient flows across hospitals.

Dr Prathap C Reddy, chairman, Apollo Hospitals Group said, “For more than forty years, Apollo has spearheaded a healthcare revolution in India, leading the charge in delivering quality healthcare services throughout the nation. We are happy to have announced our new hospitals at Pune and Kolkata, and we are forging ahead with our plans to add 2,300 high-quality beds in key geographies over the next three years.”