GPT Healthcare: Expanding Beds, Boosting Growth and Margins

Ashwin Thakker

— 2 min read
  • Full-Year FY26 Revenue Growth: Expected 15%+ (Ex-Raipur core hospitals ~10%).
  • Target EBITDA Margin: Mature assets targeting 22.5%-23% EBITDA margin.
  • Raipur Hospital Outlook: Anticipated EBITDA breakeven in 12-15 months; Q1 FY26 loss of INR 4.5 crores, full-year loss expected around INR 8 crores.
  • Bed Capacity Goal: Targeting 1,000 beds within the next 2-2.5 years (currently 719 beds).
  • Key Occupancy Targets (by March FY26/year-end): Raipur 20%, Agartala 60%, Dum Dum/Salt Lake 65%, Howrah 50%.

GPT Healthcare Limited has outlined a clear path for future expansion and profitability based on its Q1 FY26 earnings call. With revenue growing 9.5% to INR 107 crores for the quarter, the company is strategically focusing on both increasing bed capacity and optimizing existing operations across Eastern India. This forward-looking guidance provides insight into the company's commitment to sustained growth, operational efficiency, and enhancing its healthcare services in underserved regions.

Strategic Expansion Driving Future Growth

GPT Healthcare is actively pursuing its vision of becoming a 1,000-bed hospital chain within the next 2 to 2.5 years. A significant recent achievement is the commissioning of a 158-bed facility in Raipur. Despite incurring initial losses of approximately INR 4.5 crores in Q1 FY26, this new hospital is projected to achieve EBITDA breakeven within 12-15 months, a timeline the company considers “quite good” for a new geography. The expansion strategy includes an asset-light model, as demonstrated by the upcoming 150-bed Jamshedpur hospital, expected to be commissioned by the end of calendar year 2026. This build-to-suit rental model, with an investment outlay of around INR 60 crores, supports the overall full-year revenue growth target of over 15% for FY26.

Optimizing Operations and Margin Enhancement

Alongside expansion, GPT Healthcare remains committed to enhancing the operational and financial performance of its existing hospitals. The company expects its mature hospitals to maintain strong EBITDA margins of 22.5% to 23%. Occupancy rates are a key focus, with Agartala hospital aiming for 60% by March FY26, and both Salt Lake and Dum Dum hospitals targeting 65% by year-end. Dum Dum is undergoing a strategic shift to reduce its over-reliance on kidney transplants, diversifying its case mix to other specialties. This move is expected to stabilize and improve occupancy in the coming quarters. Furthermore, the introduction of new specialized services, such as radiation oncology in Agartala and robotic knee surgeries in Howrah, is designed to enhance patient outcomes and improve overall efficiency.

GPT Healthcare’s guidance reflects a pragmatic strategy focused on controlled growth and operational excellence. By expanding its bed capacity through an asset-light approach and continuously optimizing the performance of its existing facilities, the company aims to sustain its financial targets. These efforts reinforce GPT Healthcare's dedication to providing quality healthcare services, improving patient access, and achieving its long-term strategic goals across Eastern India.

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