Rainbow Hospitals eyes 12% FY24 revenue growth, stronger FY25 on new bed additions
Chairman and Managing Director (CMD) Ramesh Kancharla said the hospital chain adds 150-200 beds every year.
Hyderabad Rainbow Children’s Medicare, also known as Rainbow Hospitals, expects to end the financial year 2024 (FY24) with a revenue growth of 12% .However, in the next financial year, the new bed additions will aid stronger growth, according to Chairman and Managing Director (CMD)
Ramesh Kancharla
The largest paediatric hospital chain recently reported steady third quarter FY24 numbers, with a 10% growth in revenue and a 14% improvement in average revenue per operating bed on a year-on-year (YoY) basis.
Discussing the expansion plans for additional beds, Kancharla stated, “Year on year, we keep adding beds at about 150-200. In the current financial year, we expect to add about 280 beds.”
He further elaborated on the expected impact of the new beds on occupancies, noting that with the bed additions, the occupancies are likely to be around 55% on an annualised basis for matured as well as new hospitals. "Matured hospitals can be expected to be 60% plus, and the new hospitals would be about 40% plus,” he said.
On inorganic growth, he said, “We continue to look around, evaluate those things. Hopefully, we will give some news in the next couple of quarters.”
The hospital chain operates across six cities, managing a total of 17 hospitals. It currently has a market capitalisation of ₹12,424.31 crore.
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election: Re-elections at a Ajmer booth after presiding officer misplaces register of voters
May 2, 2024 4:54 PM
Rahul will be forced to take out 'Congress Dhoondho Yatra' after June 4: Amit Shah in Bareilly
May 2, 2024 4:36 PM