Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.
GPT Healthcare Ltd (NSE: GPTHEALTH) Q4 2026 Earnings Call dated May. 19, 2026
Corporate Participants:
Anurag Tantia — Executive Director
Analysts:
Sejal Bhattar — Analyst
Arpit Tapadia — Analyst
Unidentified Participant
Abhishek Maheshwari — Analyst
Sunil Jain — Analyst
Presentation:
Operator
Ladies and gentlemen, good day and welcome to GPT Healthcare Limited Q4FY26 earnings conference call. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on a Touchstone phone. Please note that this conference has been recorded. I now hand the conference over to Ms. Sejal Bhattar. Thank you.
And over to you ma’. Am.
Sejal Bhattar — Analyst
Thank you. Welcome to Q4 and FY26 earnings call of GPT Healthcare Limited. Today on this call we have with us Mr. Virab Tantia, Executive Director Mrs. Keerti Tantia, CFO Group CFO before we proceed the call, I would like to give a small disclaimer that this conference may contain certain forward looking statements which are based on beliefs, opinions and expectations of the company as on date. These statements are not guarantees of future performance and involve risks and uncertainties which are difficult to predict.
A detailed disclaimer has been given in the company’s investor presentation which is uploaded on the stock exchange. Now I would like to hand over the conference to Mr. Anirab Tantia for the opening remarks and thank you. And over to you sir.
Anurag Tantia — Executive Director
Thank you. Good morning everyone and thank you for joining us today for GPT Healthcare Limited’s Q4 and FY26 earnings call. I hope you all are keeping well. Let me begin with a brief overview of the healthcare industry and the structural trends that continue to support our long term growth strategy. India’s healthcare sector continues to witness strong structural growth. The sector continues to benefit from rising healthcare awareness, increasing incidence of chronic and lifestyle diseases, growing insurance penetration and improving affordability levels across the country.
At the same time, India continues to face a significant healthcare infrastructure gap as well. With hospital bed density remaining at approximately 1.3 beds per 1,000 people and well below global averages. This gap remains particularly pronounced in eastern and central India where access to quality tertiary healthcare infrastructure is still limited. Increasing preference for organized and technology led healthcare providers along with rising demand for advanced tertiary care services across cardiology, oncology, orthopedics and neurology continues to create a strong term opportunity for hospital operators with scalable platforms and and regional leadership positions.
We are also witnessing increased adoption of robotic assisted procedures, minimally invasive surgeries and advanced diagnostics and precision led treatment protocols across India’s healthcare ecosystem. As patients today are increasingly prioritizing better clinical outcomes, shorter recovery periods and technology enabled delivery. An increasing focus an increased focus on insurance penetration, national healthcare schemes and and healthcare infrastructure expansion are expected to create positive momentum for the healthcare industry in the medium to long term.
Against this backdrop, GPT healthcare remains well positioned, driven by its focused presence in undervalued Eastern markets, underserved Eastern markets, continued investments in advanced strategy healthcare including robotics, oncology, renal and cardiac sciences and a discipline expansion strategy. Let me walk you through our operational highlights for the year. During the year the RPOB increased from 37,000 to 39,200 while network occupancy stood at 55.9% up from 53% for the same period last year.
Excluding the newly commissioned riper facility, occupancy across all our mature hospitals showed consistent improvement supported by better realizations and higher contribution from specialized and high end tertiary procedures. The overall network Occupancy stood at 45.87%. However, excluding the Raipur hospital, the occupancy remained at a healthy 55.9%. Raipur Hospital occupancy was 12.35% for the FY and 14.26% for the quarter 4 FY26. Approximately 90% of our revenues continued to come from cash and insurance patients, reflecting the strength of our tertiary care positioning and a robust payer mix.
This overall performance was supported by steady progress across our hospital network starting with Solid Lake. The Solid Lake Hospital the hospital continued to deliver strong operation performance and remains a flagship tertiary and robotic surgery center. During the year it witnessed improvements in both occupancy and realizations driven by favorable specialty mix and increasing traction in complex tertiary procedures. The occupancy has moved from 58% of last year to 63% in this FY while maintaining a healthy length of stay of 3.06.
The RPOB of the hospital improved from 39,300 to 43,800 in Q4, showing significant improvement on a year on year basis. A key highlight continues to be its robotic surgery program with the hospital performing over 800 robotic surgeries during the year, further strengthening its position as a leading advanced tertiary surgical center within our network. Moving to ILS Dum Dum the hospital delivered significant turnaround following restructuring initiatives aimed at improving departmental mix and operational efficiency.
It witnessed steady improvement in both occupancy and RPOB and achieved ultimately 71% occupancy during the last quarter of this fiscal. As a part of our strategy to strengthen tertiary care capabilities, we commenced the cardiac surgery program and and enhanced intervention capabilities with 3D imaging technology for complex neurology procedures as well. All this has been done with continued focus on bringing the length of stay down from 4.59 of last fiscal to 4.47 in this fiscal. These initiatives have significantly strengthened the hospital’s clinical positioning and supported its return to optimum occupancy levels.
At ILS Agarthalla, we continue to strengthen our leadership as the leading corporate tertiary care center in Tripura. We had already expanded our clinical offerings through comprehensive oncology care in the hospital, including PET scan and linear accelerator facilities. Now we have received the requisite approvals for conducting renal transplants in the state as well, and we are hopeful that this clinical service should come as a much needed offering in the region. Apart from the above, the hospital has also achieved several important clinical milestones including the successful dual chamber Legalus implantation and complex vascular stenting performed for the first time in Tripura.
Operationally, the hospital has grown by almost 18% compared to last year, with occupancy improving from 42% to 52% in Q4FY26 on a YoY basis, supported by increased patient flow across tertiary specialties and oncology services. At ILS Havra, we further strengthened our advanced tertiary care capabilities. The hospital had commenced robotic knee replacement surgeries which have seen an encouraging response. With the hospital Having done almost 100 robotic surgeries in just over a year. Its strategic location near the Havra station provides access to a large number of patients and an enhanced catchment area.
The occupancy levels improved from 39% to 47% in Q4 FY26 on a YoY basis, supported by improved specialty mix and a higher patient throughput. Both both occupancy and RPOB recorded healthy growth during the year coming to our newly commissioned Raipur Hospital. This facility has been ramping up steadily since its commissioning in May 25. Equipped with advanced medical infrastructure, it offers a wide variety of tertiary and critical care services. We have operationalized comprehensive oncology and chemotherapy facilities as well, which are seeing encouraging initial traction.
The hospital has successfully completed six regional transplants and has also received license for liver transplant services. The hospital has already reached approximately 14% occupancy, reflecting a strong early momentum. Lastly, the Jamshedpur project is progressing in line with the planned timelines. The upcoming 150 bed tertiary care hospital remains aligned with our strategy of expanding high quality healthcare infrastructure across underserved yet high potential markets in eastern India. Let me now move to our financial performance for FY26 during the year we delivered a stable and resilient operational performance while continuing to focus on strengthening our clinical capabilities, improving our operational efficiency and driving better asset utilization across the network.
Starting with quarter four FY26 our revenue from operations stood at 128 crores, a growth of 24% on a YoY basis. EBITDA for the quarter was 25 crores translating to a margin of 19.5%. Profit after tax was 14.7 crores with a PAT margin of 11.4%. Moving through the full year performance in FY26 our revenue from operations stood At 478.5 crores and EBITDA was 90.1 crores with a margin of 18.8%. Profit after tax came in at 42.2 crores translating to a BAT margin of 8.8%. Let me explain to you the impact of the recently commissioned Raipur facility on the overall numbers.
The FY26 EBITDA from the Raipur Hospital was minus 13.8 crores and the EBITDA from mature hospitals is 103.9 crores making the overall EBITDA rupees 90.1 crores. Similarly, the EBITDA margin excluding Raipur is 23.06% which is a 94 basis point improvement as against our overall EBITDA margin of of 22.1%. In FY25 however, the overall EBITDA margin including the Raipur hospital has come down to 18.84%. Further, the depreciation and finance cost has also increased by 12.8 crores towards the Rypur hospital.
This performance was supported by improving occupancies, higher patient throughput and a stronger specialty mix across all our facilities. The impact of the recently commissioned Raipur hospital was has already been stated above and with further gradual pickup at the hospital the overall numbers are going to improve. Overall, we remain focused on driving sustainable growth, improving margins and delivering consistent value to all our stakeholders. To conclude, FY26 has been a significant year for GPT healthcare.
We strengthened our clinical capabilities and expanded our geographic footprint, improved operational performance across key hospitals and continued progressing towards a long term vision of of becoming a thousand bedded hospital chain. Our strategy remains centered on affordable tertiary care and technology driven clinical excellence, disciplined capital allocation and expansion into underserved markets across eastern and central India. We remain confident that the long term fundamentals of India’s healthcare sector are highly favorable and GPT healthcare is well positioned to deliver sustainable growth with improving Operating leverage in the coming years.
With that, I conclude my opening remarks and request the moderator to open the floor for questions. Thank you.
Questions and Answers:
Operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press char and one on the Touchstone telephone. If you wish to remove yourself from the question queue, you may press char and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we’ll wait for a moment while the question queue assembles. The first question is from the line of Deepak Ajmera from Ige India. Please go ahead.
Arpit Tapadia
Yeah, hi. Thank you for the opportunity. My question is for Raipur Hospital. We have been able to mark 15% kind of occupation and I think 1, 1.5 years has been there since commencement. So how soon we can see the occupancy going up to the desired levels?
Anurag Tantia
Thank you for your question. I would just like to give you some data. We had commissioned the hospital in middle of May 2025. So it has just been around 10 and a half months of operations of this hospital and we are already at around 3 and a half crores of revenue at an occupancy of around 15%. As you said, we expect optimum occupancy levels to be reached by quarter three of this year. A hospital generally takes almost 24 to 36 months to break even on a monthly basis. We are hopeful that by quarter three of this financial year we should be breaking even on a monthly basis at an operational level.
Arpit Tapadia
Okay. And do we expect similar kind of ramp up from our upcoming Jamshed for facility which is now about to come?
Anurag Tantia
Generally that has been the trend we have set historically and we hope to replicate that in Jamshedpur as well.
Unidentified Participant
Okay.
Arpit Tapadia
And since last two, three years, overall utilization of our, let’s say entire set of portfolio has not been very, very high. So what has been the reason in Japan in that regard?
Anurag Tantia
So the optimum occupancy levels for any hospital is around 70%. If you look at our numbers, Salt Lake Hospital and Dum Dum Hospital are around the 70% mark. Dum Dum went through a restructuring exercise but now we’ve come back to the 70% mark in that hospital. Agarthala is steadily moving towards the number and Havra also is increasing its utilization every quarter. We are hopeful these two hospitals also have the capacity and should move towards that mark very soon.
Arpit Tapadia
Okay, thank you very much.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of DIA from Sapphire Capital. Please go ahead.
Anurag Tantia
Yes, please go ahead.
Unidentified Participant
So how many beds are we targeting to add in this year?
Anurag Tantia
So this year we are targeting to add around 150 beds through our Jamshedpur hospital which is expected to be commissioned by quarter four of FY27.
Unidentified Participant
Okay. So and can you guide us on the RPOP growth that we should see in FY27?
Anurag Tantia
We expect the RPOP to grow by around 8% through a mix of tariff increase as well as specialty optimization.
Unidentified Participant
And also the CAPEX per bed that we’ll have for this year,
Anurag Tantia
The CAPEX per bed for the Jamshedpur hospital would be around 70 lakhs per bed. That is very similar to the CAPEX we’ve incurred in Raipur as well.
Unidentified Participant
Okay, so and Raipur break even, we are expecting the Q3, right?
Anurag Tantia
Yes. That would be on a monthly basis.
Unidentified Participant
Okay. So thank you.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of Dikshit Doshi from Whitestone Financial Advisors Private limited. Please go ahead.
Unidentified Participant
Yeah, thanks for the opportunity. So just a question. On a Raipur hospital. So you mentioned that by Q on a monthly basis we should break even. So on a full year basis will it be around break even or slightly loss for this year as well?
Anurag Tantia
On a full. Thank you for your question. On a full year basis we will be at a slight loss which will be almost very, very close to break even next year. We expect it to be fully positive.
Unidentified Participant
Okay. And, and when we say it will be slight loss for the full year, we are expecting what, 20, 25%. What kind of OCC you are expecting for this year?
Anurag Tantia
We, we expect to close this year at around 30% occupancy
Unidentified Participant
For a full year basis.
Anurag Tantia
Yes.
Unidentified Participant
Okay. Okay. And okay. And regarding the mature hospital, so this year if I see on an annualized basis, Dum Dum was slightly flat. Other other hospital have grown double digit on a full year basis revenue. So what kind of growth we expect overall for the mature hospitals?
Anurag Tantia
So Dum Dum went through a restructuring exercise which was strategically done to improve our departmental mix. And if you see overall our occupancy level in Dum Dum has improved almost 70% in quarter of FY27. Quarter four of FY27. So there has been a significant improvement in the Dum Dum operating metrics as well. We expect it to grow at around 10% mark. And overall we expect the company to do 15% increase on a YOY basis.
Unidentified Participant
15% top line including the ripo, right? Overall,
Anurag Tantia
Yes.
Unidentified Participant
Okay. Okay. That’s it from my side. Thank you. Thank you.
Operator
Thank you. The next question is from the line of Vidisha from CR Kothari and Sons. Please go ahead.
Unidentified Participant
What kind of occupancy do we expect for the Raipur Hospital in SR27?
Anurag Tantia
In FY27, we expect to close the year at around 30% occupancy levels at the Raipur Hospital.
Unidentified Participant
Okay, thanks for Jamshed, sir. Also, do we expect similar kind of occupancy levels as the dipod? Like in the range of 10 to 15, 14 in the first year of operation?
Anurag Tantia
Yes, the ramp up of a hospital is very similar. And we expect the Jamshedpur hospital to follow a similar trend line as well.
Unidentified Participant
Okay. And what kind of RPAP do we expect in the Jamshedpur Hospital?
Anurag Tantia
The RPOB would be in the mid 35,000. 35,000 rupees mark.
Unidentified Participant
Okay. Is there any revenue guidance for FY27 28?
Anurag Tantia
We expect a 15% increase in the overall revenue for FY27 28. For 2627.
Unidentified Participant
That’s it from my end. Thank you. All the best.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of Srihand from Devate Investments. Please go ahead.
Unidentified Participant
Hello.
Anurag Tantia
Yes, please go ahead.
Unidentified Participant
Am I audible?
Anurag Tantia
Yes, please.
Unidentified Participant
Yes, sir. So can you throw some light on your occupancy in Salt Lake and Dum Dum hospitals in the next year? And where do you see it, you know, maturing?
Anurag Tantia
So the Salt Lake Hospital in this year has already reached a significantly higher occupancy, around 68%. We expect occupancy to move towards the 70 to 73% mark for this FYI. Dum Dum 2 has moved from almost the mid 60s to 70% occupancy in Q4 of this FY. We expect the occupancy level at Dum Dum also to move towards the 72% mark in this FY. And both these hospitals would be at an optimum occupancy of around that much.
Unidentified Participant
Okay, thank you. Thank you so much.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of Abhishek Maheshwari from Sky Ridge Fund Managers llp. Please go ahead.
Abhishek Maheshwari
Yeah, thank you for taking my questions and congratulations on good numbers. Just few things. Very happy to see that Agartala has ramped up in occupancies. So can we expect going forward Agartala right Now it’s at 50 to 53%. Can it touch 60%? Is the Bangladesh situation stable now?
Anurag Tantia
So the Bangladesh situation is improving as we speak. There has been a significant change in the outlook of Bangladesh and we are seeing increased visa request letters coming from the country. We expect the occupancy level to move up and we are hopeful that by early next year we should be hitting the 60% mark.
Abhishek Maheshwari
Very good to hear that. And second question regarding the Bengal elections. Any footfalls were impacted during the elections or was it covered due to difference post election? There
Anurag Tantia
Was. There was a slight bit of impact in the last quarter of FY26 but it was nothing very significant.
Abhishek Maheshwari
Okay, so no impact during Q1 this year?
Anurag Tantia
In Q1 in April there was an impact. But in last FY there was very little impact.
Abhishek Maheshwari
Okay, got it. Thank you for that. I’ll get back to you.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of Aditya Cheda from Incred Asset Management. Please go ahead.
Unidentified Participant
Yeah. Hi. The occupancy in Raipur has been flat sequentially. So if you can attribute reasons for the same and since we are already at 14 and a half or thereabouts, your view on how you see the ramp up in Naipur if there are any reasons which are attributable to the slower ramp up or is it in line with your expectations? And I have a bookkeeping questions with respect to the cash flow. We can see a loan transaction into Body Corporate if you can quantify the nature of that transaction.
Anurag Tantia
Thank you so much. So Raipur has performed as per our expectations this year. We had expected to close around the 15% occupancy and we have seen significant ramp up throughout the year to this level. We expect this year to double that and go to a 30% occupancy by the end of the year. The performance could have been much better but there has been a delay in the insurance impanelements which was expected Also insurance impartments generally take around 15 months for any new hospital. And with insurance becoming such a predominant factor in the running of any hospital, they are critical to the success of the hospital.
We expect the impediments to be complete in the next quarter. Post which we will see a significant improvement in the numbers as well. With regards to the loan to the corporate body, that is an investment which was done to to company with preset coupon. This will be over in this financial itself.
Unidentified Participant
Right. So just wanted to clarify. In terms of the group assets that we have there is no overlap in terms of management bandwidth and investments. We don’t know. Absolutely not.
Anurag Tantia
Absolutely not. This is a completely independent company with absolutely no related party transactions across any of the Intergroup companies.
Unidentified Participant
Got it right. And since we will be breaking even at Raipur and I’m assuming there would be some losses in Jamshedpur by the end of FY27, the EBITDA growth expectations for FY27 should be lower than the revenue growth. Is that the case or earlier? We were hoping that with improved occupancy across the matured units we should see some ramp up. So your outlook on how do you see the ebitda growth for FY27?
Anurag Tantia
The EBITDA for this FY will be growing because as you correctly said, there will be an improved contribution from the other hospitals. So the impact of Jamshedpur shall be nullified and we expect the EBITDA to move by around hundred basis points.
Unidentified Participant
Right. Thanks. I’ll join.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of Parth Kotak from Plus 91 Asset Management. Please go ahead.
Unidentified Participant
Hi Anuk. Sir. Congratulations for a good set of numbers. Sir, you mentioned the capex number for Jamshedpur Hospital. If you could break that down in the capex that we see for FY27 and 28 as I’m expecting some of it would have been during this year, that would be helpful.
Anurag Tantia
Thank you. Thank you for the remark on the results for the Jamshedpur hospital. A large portion of the capex was done by the developer till now. It is only now that the CapEx cycle for us starts and we expect the majority, almost 90% of the CapEx requirement to be deployed in this financial year as well. Whatever will be left will be on account of creditors. Because we commission, we are looking at commissioning the hospital in this fy. So whatever will be left for next year will only be on account of creditors to the extent of around 10% of the CapEx cost.
Unidentified Participant
Got it, sir. And are growth plans post Jamshedpur? Sir, I’m assuming Ranchi is off the table. Are we looking at adding any further assets post Jamshedpur?
Anurag Tantia
We are constantly evaluating opportunities across the eastern market. These are both Greenfield and acquisition opportunities. We are hopeful of concluding something soon to add to our overall portfolio.
Unidentified Participant
Great, sir. Lastly, on Raipur sir, if you could help me with the EBITDA loss that we would have incurred for the hospital in Q4. And you did mention to reach breakeven by Q3 of this year. The percentage breakeven in terms of occupancy would be about 25%.
Anurag Tantia
We expect the hospital to break even around the 25% mark. You’re right. And we incurred an EBITDA loss of around 3 crores for the last quarter.
Unidentified Participant
That’s helpful sir. Thank you. That’s all from my side.
Anurag Tantia
Thank
Operator
You. Thank you. The next question is from the line of Aditya Goel from Redwood Capital. Please go ahead.
Unidentified Participant
Hello. Good morning sir. First of all congrats on the result. So I just want to talk more about the riper hospital, the market. So Raipur has seen meaningful capacity addition in terms of local players coming in. A few of the listed players are also coming in. So I just wanted to understand like RIPUR and Chattisar like do they have the absorption capacity for new bets to come without occupancies getting derailed across the board? And when you think about your own ramp up, do you see the growth primarily coming from capturing share from existing players or the thesis is that more that market is under penetrated and growth will be able to accommodate new supply.
Anurag Tantia
So thank you for the question. You’re right. There is significant expansion potential in Raipur. There are players coming in but the market and the adjacent territories is very large with a very large underserved catchment population. There’s just around 1.15 beds per thousand population. There is no still a lot of bed requirement in that state. And we are significantly or we are strategically placed with regards to the timelines. Our hospital Having commissioned an FY26, we have an advantage over the newer incumbents as well.
We have a good clinical team and a good technology mix. So we are hopeful that there should not be any problem with regards to the occupancy ramp up. Whatever we do, there will be significant growth opportunities for others as well.
Unidentified Participant
Okay, so the like there is enough demand for quality healthcare and like all the players will grow.
Anurag Tantia
Yes, got
Unidentified Participant
It. My next question is regarding the artwork for the hospital. Like see if you look at triple hospital it’s RPOC is lying with your mature West Bengal hospitals. So I just wanted to understand like what’s the current specialty mix there and what’s the payer mix looking like at that hospital.
Anurag Tantia
So at this point as I mentioned earlier we are still going through the impanement process with other insurance companies and other PSUs. So that is why the RPOB is slightly higher. With the impanement complete and corporates coming on board, the RPOB might reduce a bit by around 4 or 5%. That being said, we have very good mix with regards to our specialty contributions. A bulk of revenues are distributed across major tertiary care specialities including cardiology, neurology, GI surgery. So it is a good mix which is contributing to the overall higher RPOP with predominantly most of the patients being cash patients at this point.
Unidentified Participant
Okay, so the mix is like dominant by cardio and higher specialty mix.
Anurag Tantia
Correct.
Unidentified Participant
So one more question, like is there any issues that you are facing in terms of attrition with new hospitals coming in, specially in terms of clinical and paramedical staff and how, what’s the strategy if you are facing some attrition to retain these staff?
Anurag Tantia
So with every new incumbent there is bound to be a risk of attrition. But we are fairly confident of our metrics and our foundation. We have a good set of clinical team and a good paramedical team as well. There might be some attrition with regards to the nursing fraternity which generally happens across the country. But apart from that we are very confident with our team.
Unidentified Participant
Got it. One last question, like you are doubling your occupancy in the hospital. So just wanted to understand like what are the few things that you’re doing in terms of you are new in the market. So like what are the market strategies in terms of marketing scams etc. So if you can highlight that like what’s the strategy to go from doubling the. Doubling the occupancy.
Anurag Tantia
Sure. So the hospital is situated strategically in the heart of the city. We’ve come up with a absolutely new infrastructure combined with high end medical technology including a 3 Tesla MRI. We are, we are doing some very unique things in this hospital including cardiac electrophysiology which very few people across the region are doing. Perhaps we are the only one doing it. Apart from that we have already started renal transplants in that hospital. We expect to commission liver transplant also very soon.
We’ve got the license and we are awaiting the first few patients under workup. So there is a lot of advantage with regards to functioning from a clinical delivery perspective which will keep us in good stead throughout the lifespan of this hospital and that acts as a big marketing medium by itself.
Unidentified Participant
Got it. Thank you so much and all the best.
Anurag Tantia
Thank you. Thank you.
Operator
Thank you. The next question is from the line of Sunil Jain from Nirmal Bank Securities. Please go ahead.
Sunil Jain
Yeah, thanks for taking my question and congrats on good number. Sir, my question relate to Damdam and Havra. We had seen good improvement in occupancy in both the hospitals. So are these occupancy which has improved are sustainable and can next year we can expect similar occupancy for what we had seen in Q4.
Anurag Tantia
Thank you for your question. So yes, both the hospitals are on a sustainable growth path. Dum dum. As we said, we’ve significantly restrategize and optimize our delivery mix. We’ve come back to our previous occupancy levels of 70% and we expect this to grow down the line as well. However, with the change in specialty mix, with the addition of new technology and consultants, we’ve significantly improved our overall productivity in that hospital and we expect this to improve even more. In this fy.
We expect the occupancy numbers to go up as well at a good growth rate year.
Sunil Jain
So last quarter in Havada we had seen over 47%. So we can expect similar or better than this occupancy level.
Anurag Tantia
We expect the occupancy to move towards the 60% by Q1 of next year. So this year we expect to close around the late 50s.
Sunil Jain
Okay, great, great. That is good. And second thing about the Agartala hospital we we had seen bit improvement in here rpop. So similar RPOP still as we see compared to other are a bit lower. So can we expect now since the occupancy has also come over 50% so that can also start improving from here.
Anurag Tantia
Agartala is in an area where obviously patient affordability is a challenge. So we’ve intentionally discounted the rpob, kept the rates lower in that hospital. We expect the RPOB to increase on a yoy basis by around 7 to 8%. But that will not match up to the RPOB of our Calcutta units or other locations. We will keep it at a intentionally keep it lower compared to the other hospitals.
Sunil Jain
Okay, great sir, thank you very much and all the best for next year.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of Dhruv Maheshwari from Perpetuity Vendas. Please go ahead.
Unidentified Participant
Good morning sir. Am I audible?
Anurag Tantia
Yes, please go ahead.
Unidentified Participant
Yes sir. So basically wanted to ask regarding the upcoming strategies for the occupancy increasing the Salt Lake Hospital and if you could just reshare the occupancy guidance for the same.
Anurag Tantia
Thank you for your question. So the Salt Lake hospital has significantly. We’ve significantly reduced the length of stay of that hospital from almost late three to now just about three. So that has opened up additional beds in that hospital which we are filling up through increased productivity in that hospital. With that occupancy has already moved from around 65 to almost 69% in this hospital. And we expect it to move towards the 72% mark by the end of the year. There have been significant contributions from across a lot of departments.
We’ve recently Started advanced GI surgeries in this hospital as well, which is complementing our already dominant position as a robotic surgery center. So that should further improve the overall occupancy and rpob levels of this hospital. Apart from that, there is a significant focus on strengthening our critical care offerings in this hospital which will also aid the overall productivity numbers here.
Unidentified Participant
Okay. Sure. Okay, sir. Thank you.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of Somil Shah from Paris Investments. Please go ahead.
Unidentified Participant
Hi sir. Good morning and congrats on a very good set of number. So when you are saying that our overall RPAP will be increasing by 7 to 8% and our Raipur facility also breaking even by Q3 of this year. But we are guiding for the 100 basis points increase in EBITDA. So are we not conservative in our guidance?
Anurag Tantia
I think 100 basis points increase after set off of the initial loss of Raipur is not conservative. We don’t expect the full year of Raipur to be positive. We expect it to just about break even. So it is not a conservative number. It is in line with our functioning and overall increase in volume and profitability.
Unidentified Participant
Okay. Okay. So overall we are guiding for a 20% EBITDA margin, right?
Anurag Tantia
Correct. It would be around 20.2%.
Unidentified Participant
Okay. Okay. And and with respect to RIPUR facility, I think you mentioned to the previous participant that we are targeting around 30% occupancy level. So that is for Q4 of this year or for a full year basis using 30%.
Anurag Tantia
No, that will be for Q4. By the end of the year we expect to read 30% occupancy.
Unidentified Participant
Okay. Okay. That’s it from my sir. Thank you and all the best.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of Dikshit Doshi from Whitestone Financial Advisors. Please go ahead.
Unidentified Participant
Yeah, thanks for the opportunity. Again for first question is regarding the four mature hospital. Is there a capacity to expand bed in these four hospitals?
Anurag Tantia
Across the older hospitals at this point there is no real estate available to expand beds. Especially in the Calcutta hospitals. In Agarthala Hospital, once we reach the optimum occupancy for around 70%, we are in a position to add beds. There is vacant land in the complex where we can add beds.
Unidentified Participant
Okay, how much any thought out of the 205 beds are there already? So how much we can increase?
Anurag Tantia
So as I said, once we reach optimum occupancy levels of around 70%, we are in a position to add beds which would be around 100 beds can be added in that hospital.
Unidentified Participant
Okay. 100 bed can be. Okay. And my second question is regarding the. So recently we have seen the change in government in West Bengal. And now we expect, you know, a significant enrollment for the Ayushman Bharat as well. So if you can throw some light, can that impact our ARPU or IN or it can help whichever way possible.
Anurag Tantia
The change in government is a very welcome move in the state. We have seen there’s a lot of positive momentum which should aid the overall development of the state. That being said earlier also there was a replica scheme called Sastrasathi which was functional in the state and which is going to be replaced by Ayushman Bharat. So we do not expect a lot of change with regards to the number of scheme patients we cater to. So therefore the impact on the RPAP also should not be anything notable.
Unidentified Participant
Okay. Okay. And just one clarification. In two, three times in the con call you mentioned the Salt Lake capacity is. We have reached around occupancy of 68, 67% and expect to cross 70%. But in the presentation it is mentioned 62.4% for Salt Flake.
Anurag Tantia
Let me check and get back to you on that. Yeah,
Unidentified Participant
Sure. Okay. Thank you. That’s it for my. Thank you.
Operator
The next question from the line of Vidisha from Crotarian Sons. Please go ahead.
Unidentified Participant
Sir, could you share the F597 expectation for occupancies and RUP across all your hospitals individually?
Anurag Tantia
Sure. So FY27 at the Salt Lake Hospital we expect to maintain around the 70% occupancy mark. Ratala should be moving towards the 58% mark. Dum Dum should be also maintaining around the 72 to 73% mark. While Havra should be again moving towards the late 50s. Raipur should be ending the year with around 30% occupancy. RPAP numbers would be similar to what we have had this year. There would be approximately 7 to 8% growth on the RPOB on account of tariff change as well as product of product department optimization.
Unidentified Participant
Regarding your Lamdam hospital, the occupancy has been down. You mentioned that it’s due to restructuring change. Could you please elaborate what is happening there?
Anurag Tantia
So the Damnam hospital has gone through a restructuring exercise From a specialty mix perspective. We decentralized the specialty focus and we’ve included a lot more specialties in the functioning of this hospital. We recently commissioned cardiac surgeries in the hospital and just in a quarter We’ve done almost 30 cardiac surgeries in that hospital. We are also doing increased number of interventional radiology, interventional neurology procedures in that hospital as well. So by de risking the hospital from one particular specialty, we’ve been able to optimize the overall functioning.
We expect the occupancy to be increasing around the 70 to 72% mark in that hospital. We’ve grown from almost 65% to 70% occupancy in Q4.
Unidentified Participant
That’s it for mine. Thank you.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of Deepak Ajmera from IG India. Please go ahead. Mr. Deepak, your line has been unmuted. Please go ahead with your question.
Arpit Tapadia
Hi, I’m audible?
Anurag Tantia
Yes, please.
Arpit Tapadia
Yeah, so I want to know about our patient mix. Likewise between cdhs, Ayushman, Cash, insurance.
Anurag Tantia
So we work more on a cash and insurance business. We have almost 90% of our revenues coming from cash and insurance patients only. Our corporate and scheme patients combined are giving us around 10% revenues of which corporate might be around 5% and 5% would be scheme patients of Ayushman, Bharat, etc.
Arpit Tapadia
Okay, and how could the bifurcation look like between cash and insurance?
Anurag Tantia
It is almost a 50, 50 split between the two. Hello, I’m Arugul.
Arpit Tapadia
I’m Ardavan.
Anurag Tantia
Yes, I said it is a 50, 50 split between cash and insurance.
Arpit Tapadia
Okay. And how much proportion of our Agartala patients are coming from let’s say Bangladesh?
Anurag Tantia
The Bangladesh hospital, the Bangladesh Bangladesh would contribute around 10% of our volumes in Agarthala earlier. At this point it is down to around 3%. We expect it to move to again towards the 10% mark. Hopefully soon once the process eases out a little more.
Arpit Tapadia
Okay, thank you.
Anurag Tantia
Thank you.
Operator
Thank you. The next question is from the line of NK from tcgamc. Please go ahead.
Unidentified Participant
Hi sir. Thanks for the opportunity. What I want to understand is for every single hospital, could you specify let’s say the top two specialties which are contributing at this point? And in similar vein, you know, in FY27, which are the specialties that you need to add to each of these hospitals.
Anurag Tantia
Thank you for your question. So the specialty mix differs as per different hospitals. For example, in Nagartalla at this point, cardiology and critical care are dominant specialties. In that hospital down the line we expect oncology to ramp up and become a dominant specialty as well. In Sol Lake, GI surgery and gastroenterology are the dominant specialties. We expect the same to continue with the focus on high end gi Surgeries which we are doing, we expect GI surgery volumes to increase as well.
At Dum dum, nephrology and critical care are dominant specialities. We expect cardiology and neurology to significantly ramp up in this hospital, including pulmonology in Havra. At this point, orthopedic and laparoscopic surgeries are pretty common are dominant. We expect cardiology also to be added to the fray and that becoming a dominant specialty in Raipur. Cardiology and GI surgery are the top two specialties. We expect expect renal sciences and neurology also to end up joining and contributing evenly in that mix.
Unidentified Participant
And just a clarification because I think I missed it. You mentioned your
Anurag Tantia
Voice is breaking. Hello?
Unidentified Participant
Hello? Am I audible?
Anurag Tantia
Yeah.
Unidentified Participant
Okay. The question is in. Albert, you mentioned the contribution from Bangladesh. 10% pre crisis.
Anurag Tantia
Bangladesh would earlier contribute around 10% of our revenues for this FY. It has been around 3%. We are seeing an increased visa request coming in from Bangladesh and we are hopeful that it should move towards the 10% mark soon.
Unidentified Participant
Right. And any thoughts around MMA or do you want to pursue more a Greenfield kind of an operation?
Anurag Tantia
No, we are constantly evaluating suitable M and A opportunities in this part of the country. This part of the country being underserved from a corporate healthcare point of view, M and A opportunities are also. We have to be very choosy in selecting good real estate assets. So we are evaluating opportunities once the suitable one does come in. We would take it
Unidentified Participant
Any size that you want to sort of limit yourself to.
Anurag Tantia
There is no limitation with regards to the overall bed strength. But from a hospital perspective, we look at hospitals around the 150 to 200 bed mark.
Unidentified Participant
Thank you so much, sir, and all the best.
Anurag Tantia
Thank you. Thank you.
Operator
Thank you, ladies and gentlemen. We’ll take that as the last question for the day and I now hand the conference over to the management for closing comments.
Anurag Tantia
Thank you everyone for your questions, which I hope we have suitably addressed. In case you have any further queries, please get in touch with us. Thank you for your continued support and trust in our company’s vision and capabilities. Together we look forward to achieving new milestones and creating lasting value. Thank you and have a good day ahead.
Operator
Thank you on behalf of GPT Healthcare limited that concludes this conference. Thank you for joining us and you may now disconnect your lines.