Yatharth Hospital & Trauma Care Services Limited (NSE: YATHARTH) Q4 2025 Earnings Call dated May. 27, 2025
Corporate Participants:
Unidentified Speaker
Yatharth Tyagi — Whole Time Director
Pankaj Prabhakar — Chief Financial Officer
Analysts:
Unidentified Participant
Aashita Jain — Analyst
Ritika Khandelwal — Analyst
Akshit Mehta — Analyst
Pawan Bhatia — Analyst
Devarsh Shah — Analyst
Sumit Gupta — Analyst
Umakant Sharma — Analyst
Anuj Kashyap — Analyst
Vicky Bhagwani — Analyst
Anandi — Analyst
Pratik Bora — Analyst
Kunal Tokas — Analyst
Vijay Chauhan — Analyst
Yash Poddar — Analyst
Saurabh Dhole — Analyst
Presentation:
operator
It Sam Sa It It Sam it. Ladies and gentlemen, good day and welcome to Yadad Hospital Q4 and FY25 earnings call hosted by Nirvama Wealth Management Limited. 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 the conference call, please signal an operator by pressing on your touchstone phone. Please note that this conference is being recorded. Let me draw your attention to the fact that on this call discussions will include certain forward looking statements which are predictions, projections or other estimates about the future events.
These estimates reflect management’s current expectations about the future performance of the company. Please note that these estimates involve several risks and uncertainties that could cause our actual results to differ materially from what is expressed or implied. I now hand the conference over to Ms. Ashita Jain from Nuvama Wealth Management. Thank you. And over to you ma’ am.
Aashita Jain — Analyst
Thank you Azirath and good day everyone. On behalf of Nuvama Wealth Management, we welcome you all to Q4 and FY25 earnings conference call of Yathat Hospitals and Soma Care Services Limited. From the management side we have with us today Mr.
Yath Tyagi, Full Time Director, Mr. Amit Kumar Singh, Group Chief Executive Officer, Mr. Nitin Gupta, Chief Operating Officer and President Finance. Mr. Pankit Sarbhakar, Chief Financial Officer, Mr. Sonu Goel, Group Financial Controller. I now hand over the conference call to Mr. Yathar Tagi for his opening remarks. Over to you Yathar and thank you.
Yatharth Tyagi — Whole Time Director
Good morning and a very warm welcome to Yathat’s Hospitals and Trauma Care Services Limited earnings conference call for the quarter and year ended March 31, 2024. Joining me today are Mr. Amit Kumar Singh, Group CEO Mr. Pankaj Prabhakar Group CFO Mr. Nitin Gupta, Group COO and President Finance and Mr.
Sonu Goel Group Finance Controller. Our earnings presentation has been uploaded to the stock exchange and is also available on our website. We hope you have had a chance to review it. I am pleased to share a significant clinical milestone. Our NORD Extension Hospital became the first in the region to initiate CAR T cell therapy, a groundbreaking treatment for cancer patients. This achievement underscores our commitment to advanced care. We also successfully managed several other complex cases this quarter including a craniopharyngyma in a 3 year old child with a 52 by 53 by 51 MF cystic mass.
The case required a high risk peritoneal crinotomy resulting in near total tumor excision. In another case, we operated a large occipital glioma resection in a 45 year old Iraqi patient using neuronavigation technology to ensure maximal safe removal with no damage to brain tissues. In another high risk cardiac surgery involving mitral valve replacement, triscupid valve aneumuloplasty and ASV closure was performed on an international patient with multiple comorbidities including CKD and complex cardiac anatomy. These cases reflect our clinical depth and advanced infrastructure, positioning us among the top tertiary care providers in the region. I’m also delighted to report another quarter and year of robust performance.
Our revenue for the financial year grew over 30% year on year while our EBITDA increased by over 20% year on year. Notably, this year the company generated an operating cash flow of rupees 1,496 million with a cash conversion ratio of around 70%, reflecting a strong focus on translating profitability into cash generation. This performance is a testament to our relentless focus on operational excellence, strategic expansion and a commitment to strengthening our leadership in the Delhi NCI healthcare market and in North India. During the year we made significant strides in expanding our footprints with operationalization of a greater Faridabad facility in May 2025, adding 200 beds to our network.
I am pleased to inform that within just 10 months this facility contributed 436 million in revenues and accounted for 9% of of our total revenue in quarter four, underlining its strong potential furthering our expansion. Two new hospitals, one each in New Delhi of around 300 beds and Faridabad of around 400 beds have been successfully registered and we have received possession of the site in this quarter. We expect both hospitals to be operationalized by next month, significantly enhancing our presence in Delhi NCR Our strategic investments in medical infrastructure and super specialty services continue to drive strong patient inflows and value growth across our network.
Further, the proportion of government business in our newer hospitals remains significantly lower than the group average, with Greater Faridabad hospital seeing only 20% of his business coming from government schemes. We expect this trend to continue with our upcoming hospitals in Faridabad and New Delhi, which are also anticipated to have a lower government mix. This shift will drive meaningful improvement in our revenue mix as well as RFOP for the whole group. We have intensified our focus on attracting medical value travel through strategic engagement with key government and private hospitals in in Nigeria, health camps and local doctors meeting in Uzbekistan and Kazakhstan.
Additionally, we have launched information and branding initiatives targeting the African Students Union. We are also setting up information centers in Uzbekistan, Mauritius, Tanzania and Kenya, and we are actively engaging in partnership discussions with the Ministries of Health in Iraq and Congo. These initiatives are expected not only to expand our medical value travel business by benefiting from the upcoming airport, but also to significantly contribute to improving RPOC in the coming years. On the ongoing income tax matter, I am pleased to highlight a major positive development involving all our shareholders. Our subsidy AKS Medical, which operates a non extension hospital, has recently deposited Rs.
12.38 million as additional tax in response to assessments by the income tax authorities related to previous years. Given that this facility accounts for nearly 40% of the group’s total revenue, this marks a substantial step forward forward in the resolution process. With this development, the assessment now remains pending largely for the parent entity. The resolution at ATS Medical involving a relatively insignificant financial liability reinforces our confidence in bringing this matter to a close soon with no material impact expected on the Group’s financials. Furthermore, in line with a commitment to the best corporate governance practices, we have received written consent from BDO India, a leading auditing firm, for the proposed appointment as statutory Auditor effective from financial year 2026.
This proposal will be presented to the Board in the upcoming AGM for necessary approvals. Meanwhile, Deloitte continues to serve as an internal auditor, supporting us in strengthening our financial systems and internal controls more I would also like to take a moment to appreciate the contributions of Mr. Neeraj Vinayak as he moves on to pursue a new career opportunity outside NCR and wish him continued success in his future endeavors. Looking ahead, we are pleased to share that a highly seasoned professional, the strong background in MNA strategy, investor relations and having previously worked with leading hospitals will be stepping into the role.
This transition underscores our continued commitment to strengthening our M and A initiative and deepening our investor engagement as we move forward. Yet hospitals is well positioned for sustained growth driven by a commitment to clinical excellence, strategic expansion and investment in advanced medical technologies. We remain focused on delivering long term value to our stakeholders. With that, I would now like to hand over the call to Mr. Pankaj Prabhakar, our CFO for a detailed financial update.
Pankaj Prabhakar — Chief Financial Officer
Thank you sir. Good morning everyone. I am pleased to report Jakarta Hospital has continued its strong growth trajectory, delivering robust results for both the quarter and the full year.
Let me first take you all through the results for the quarter. During the quarter the third hospitals achieved a revenue of Rupees 2,318 Million marking a substantial growth of 30% year over year driven by growth in our occupancy as well as arpo. Our Jhansi Orcha Hospital led the way with an impressive 53% year over year growth while Noida Extension posted 34% year over year increase in revenue, now contributing 7% and 36% to our top line respectively in patient volumes surged by 41% and outpatient volumes by 31% y o y during the quarter we have also made significant strides in advancing our tertiary and quarterly care services.
Earlier this year we introduced a new radiation pipeline at our Noida Extension Hospital and robotics across our Noida Extension, Greater Noida and Greater Faridabad Hospitals. These investments have significantly boosted our oncology revenue within oncology now contributing 18% to Noida extreme revenue and 10% to the group’s overall revenue or 1.61percent increase from last year. Our strategic investment in medical and infrastructure and specialty services continue to drive strong patient inflows and value growth across our hospital networks. In quarter four FY 2025 our group ARPO rose by 7% to rupees 31,441. Notably a Noida Extension facility reported the Highest ARPO at Rupees 38,806 reflecting an 11% YoY increase driven by approximately 70% contribution from Super Specialty Services.
Our greater Noida facility achieved an RPAP of Rupees thirty four thousand nine hundred and sixty up by sixteen percent Y O Y while our nearest US facility in Greater Florida was posted an RPOB of Rupees thirty thousand three hundred eighty four within its first year of operation. Reflecting our focus on high end healthcare solutions, EBITDA for the quarter rose by 23% YoY to rupees 570 million. EBITDA margin stood at 24.6% compared to 26.2% last year. The reduction in EBITDA margin for the quarter was on account of operational losses at our greater Faridabad unit which become operational in mid May.
Adjusting for Faridabad Hospital, our EBITDA margin would have been in the range of 26 to 27% this quarter. Overall our profit grow by 1% YoY at rupees 387 million, a relatively slower profit growth primarily on account of the increase in depreciation expense in the quarter in line with our ongoing expansion and investment in advanced medical equipment. Now the highlight for financial year 25. For the full year revenue grew by 31% to YoY to Rupees 8805 million in patient volume were up by 34% while outpatient volumes were up by 16% YoY in FY25. Our overall group occupancy also increased to 61% in FY25 compared to 54% in the same period last year.
Notably, our Noida extension and Gassy OCHA have shown impressive occupancy gain reaching 60% and 50% respectively. EBITDA for the financial year 25 stood at Rs. 2,202 Million, up 22% YoY with an EBITDA margin of 25%. Net profit for the period stood at Rupees 1,306 Million, up 14% YUI. Our balance sheet continues to remain strong with a net cash position of Rupees 5032 million, bolstered by the recent QIP. Our ROC for the year stood at 19%, impacted by operational losses at the greater Hyderabad facility and expanded capital base and acquisitions and investments in advanced technologies. However, we are confident that this is a temporary blip and once the new facilities ramp up, ROCE will return to the earlier level.
We remain optimistic about sustaining our growth momentum in both revenue and profitability. Our focus will continue to be an operational excellence, expanding our presence in North India and capitalizing on emerging opportunities in the health care sector. Thank you for your attention. I would now like to hand over the call to the moderator for question and answer session please.
Questions and Answers:
operator
Thank you very much sir. 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 1.
Participants are requested to use handsets while asking a question. They Ladies and gentlemen, we’ll wait for a moment while the question queue assembles. The first question is from the line of Hrithika from Perpetuity Ventures. Please go ahead.
Ritika Khandelwal
So I just wanted to know that how do you plan to save the beds in SAD in Delhi and due to the operationalization of the new hospital, what will be the impact on the ebitda?
Yatharth Tyagi
So both the second hospital of Khalidabad region and the new Delhi hospitals. You know we are planning to launch these hospitals before the end of next month.
So therefore operations should be coming up fully from the first day of quarter two. We feel that the Faridawad hospital will be which is a 400 bedded and Delhi is 300 bedded. So from day one more than 70% beds of both these hospitals would be operational and as and when the occupancy increases the beds can be utilized further. But we are quite confident that before the six months of Both these hospitals starting, we will be fully operationalizing 400 beds as well as 300 beds in the New Delhi hospital. As far as your second question on the impact on the ebitda, we do expect EBITDA losses in both of these hospitals for at least 12 to 15 months of getting operationalized.
If you see our Greater Fritavar Hospital, which started in this financial year, so after the full financial year we have reached a status there where in the latest month that hospital has become EBITDA break even. So I think with the similar trend going forward, we do expect the new registered hospitals to also be EBITDA break even somewhere after 12 to 15 months of operationalizing.
Ritika Khandelwal
Okay, thank you.
operator
Thank you. The next question is from the line of Upshit Mehta from Seven Rivers Holding. Please go ahead.
Akshit Mehta
Yeah, thank you sir, for the opportunity. You know, on your working capital, sir, it’s still quite high at the end of FY25.
What is the plan there?
operator
Sorry to interrupt. Mr. Akshayth, your voice is not audible. Could you move a bit closer to the phone?
Akshit Mehta
I think it should be better now.
operator
Yeah, please go ahead with your question.
Akshit Mehta
The question was I just wanted to understand what is the plan on, you know, reducing the receivable deal going forward and you know, buyer. So I. At the end of 525 as well. That’s my first question.
Yatharth Tyagi
Yeah. So, you know, our receivable days are higher on the higher side because our government business is also on the higher side compared to, you know, some of the listed peers also.
If you look at it, however, this year, even with the similar days that we have last year, the company has, you know, been able to generate high cash. In fact, our OCF Beda conversion this year is around 68% in almost 70%. So the focus is on, you know, I mean, the money that is was struck last year, you know, that amount has now been majority recovered by the company. Yet the new amount has also gone into, you know, outstanding receivables which will also be, you know, received in the, in the coming quarters like we have for this whole year.
In fact, if you look at the H1 of this year, our days were close to 110 days. So it is only the H2 where the data have increased, which is a similar trend that we do observe. Sometimes quarter four is usually the receivables are less. However, you know, as we have shown for the full financial year, the company has recovered a huge amount of its receivables and we will continue to do that next year. As far as your question of in the long term how to reduce the total days we have, we feel when our newer hospitals get into, you know, full scale running where the government business is already quite less, that’s where you will actually see the difference in the receivable days.
So the greater Faridabad hospital has just 20% of government business. Also the New Delhi hospitals and the main Faridabad hospital, when that starts the government business will also be around 20% there. And that is the only solution for this long term, this receivable days to come down. However, we are quite happy with the receivable that you received for the whole year. And this is the trend that we will be continuing next year also.
Akshit Mehta
So can you follow up on that for the full year?
Yatharth Tyagi
Yeah, So I think our government business is close to 37% and remaining is the breakup is between the private insurance as well as the cash fish.
Akshit Mehta
Hello.
Yatharth Tyagi
So yeah, STPA contribute to around 67% of the overall business.
Akshit Mehta
Okay. And, and the split in cash and TPA here,
Yatharth Tyagi
our cash business around 35% and rents in the RTP business 32%. And the cash includes the international business also.
Akshit Mehta
Okay.
operator
Sorry to interrupt again. Mr. Akshayth. Your voice is not audible.
Akshit Mehta
Sorry. So I just wanted to ask. There was a pledge that was Created in Quarter 4, FY25. What is the reason for that pledge on the promoter holders?
Yatharth Tyagi
Yeah. So that pledge was nothing to do with the company. That pledge was done for the certain personal investment that the promoters made.
And it is only in the tune of 8% shares of the overall company were pledged. That was a settlement that happened between the cousin brothers of the promoters. Because a promoter, extended family member, Krishna Tyagi, who, who was holding those amount of, you know, equity had passed away. So her shares had to be transferred to her family members. And because of that settlement the pledge was done which was only 8%. So because the amount that you receive by pledging the pledge has to be 3.5x of that amount. That’s why it appears 8%. However, the amount that was raised was only in the tune of how 130 crore that was raised by pledging the shares.
And the promoters are quite confident that you know, within a year or so once the other properties get sold they would be also unpledging this amount.
Akshit Mehta
Okay sir, thank you. I’ll come back in with you.
operator
Thank you. The next question is from the line of Pawan Bhatia from Nuvama Belt. Please go ahead.
Pawan Bhatia
Hello sir. Congratulations on a good set of numbers. I just had a few questions. Firstly regarding the tax rate. So I think this year we saw 24% effective tax rate compared to 27% last year. And in Q4 I think we saw about 20%.
So I just want to understand what level can we see going forward?
Yatharth Tyagi
If you see last year we reported around 27% as effective tax rate and this year we are at around 24%. I’m talking for the year on year basis and this is the same trend we will continue for the near future. 24%.
Pawan Bhatia
Okay, okay, understood. And secondly, in terms of occupancy rate, I think our Noida facility we have seen a drop from 89% last year to 79% this year. But I think earlier you had mentioned that this is a move which you all have planned plan to do.
So just want to know that since RPAP has grown about 10% here but or the revenue has been flat. So what can we see going forward in terms of occupancy rate at the facility?
Yatharth Tyagi
Yeah, so you’re absolutely right. I think remember our earning calls of quarter one and quarter two. That time we had mentioned that, you know, we wanted to bit sanitize the, you know, payers of, you know, payments of Noida and that’s what the deliberate attempt we took to, you know, minimize the institutional business. So the result what you say, yes, this year you may see this as numbers are flat.
But the good side of it, if you see the, you know, arpob has increased but more than 10%. Right. So I think that operational efficiency has increased by doing so. And then similar kind of, you know, a thought process you would be having it even for existing hospital. Also we’ll try to be sanitize the social business. But yes, coming year next financials here, if you see that, you know the, this, whatever the steps which you have taken it that impact will start coming from, you know, this quarter or probably next quarter. So our specialty mix will be better.
Their revenue mix will also be more towards the superficiality mix. So we are very hopeful as far as whatever these steps which you have taken as far as Noda Hospital is concerned. So even the occupancy rate could see a increase from here occupancy it’s close to 80% which we believe is a good occupancy. I mean that’s a 4 or 5% we may see. So anything between 80 to 80% occupancy, it is a very good occupancy. If you go more than see one, I mean one quarter probably it was closer to 90% which we believe that’s difficult to manage.
So I think 85% is a fairly okay occupancy and I think we are okay with this.
Pawan Bhatia
Okay, just one last question. In terms of the RPOB, so I think we have seen about 13,200 this year in the terms of iPhone. So what trend do we look at going forward from here will be more or less similar.
Yatharth Tyagi
If you remember the earlier the dhasi were dhancy had reported a higher, you know, the RPOG because of the initially when we were not having the institutional business, initially we’re not having the PhD’s business. Cash business was more. Right.
But now if you see Jasi is doing a very good institutional business because that area has, you know, nature of business is more of the PSU than institutional. Right. So that is the reason we believe that. I think this is 13, 14,000. I think anything closer to 15,000 would be a good ARPO for a joint that was as per expected line.
Pawan Bhatia
Okay. Okay, understood. Thank you so much for your time. Thank you.
operator
Thank you. The next question is from the line of Devar Shah from Sunidi Securities. Please go ahead.
Devarsh Shah
Yeah, so like the voice wasn’t clear. So can you repeat the PMF for the financial year for the company out of 100,
Yatharth Tyagi
our 31% business is for the institutional business and that 63% is for the cash and TPA and out of 63, 35% for the cash and that’s 32% for the TP business.
Devarsh Shah
Okay, sir, thank you.
operator
Thank you. The next question is from the line of Sumit Gupta from Centrum. Please go ahead. Yes, you may go ahead.
Sumit Gupta
Thanks for the opportunity. So just want to ask on the working capital cycle, so it’s around 120 days. So going forward over the next two to three years, how do you see this panning out?
Yatharth Tyagi
As I mentioned with now the newer hospitals starting up, the greater Faridabad where the institutional business is just 20% and New Delhi Faridabad hospitals which are getting operationalized very soon, very similar government business expected.
So you know, somewhere when those two hospitals start contributing. So I think, you know we do feel that in two to three years time these days should be reducing somewhere around 20, 25 days. And that’s the plan forward. However, you know, as earlier mentioned, we are quite happy with this year because the company has been able to recover a lot of amount that was stuck in receivables. So that equally important for us to also focus. Yes, receivable days will come down in the long run. But equivalently the company will be getting good cash flows from the amount that has been outstanding in the receivables.
Sumit Gupta
Okay. And on a like a like basis. So if you exclude these only substituting. So on a like olase basis, how are you today?
Yatharth Tyagi
Yeah, so I think we would expect the three new facilities probably in a year’s time would be having receivable days of close to around 60 to 80 to begin off with. And that’s how in the overall group level, even though their contribution will be lower in terms of the absolute volume but then overall the good level, how we would expect the refill list to also come down.
Sumit Gupta
Okay, and next question is on the paper.
So how much papers do you plan to invest over the next two to three years?
Yatharth Tyagi
So I think last year we have done a capex of close to 300, 310 crores. Similarly is the roadmap ahead for this year and the next year and you know, any other inorganic acquisitions would be a separate. So 300 crores would be done on the existing seven hospitals which includes the New Delhi and the Faridabad for this year. And if we look for any other inorganic acquisition or a greenfield land project, that would be a separate capex that the company would be doing.
Sumit Gupta
Okay. So basically capex for bed comes out easily comes out to 7 to 8 million for that if I’m not wrong. For the existing hospitals for the existing or for the acquisition that you are looking at, if there is any, it would be more than 1 crore.
Yatharth Tyagi
Yeah. Acquisition would be. Yeah. Somewhere around, you know, 80 lakhs to 1 crore x of land for the inorganic acquisition. You’re correct.
operator
Thank you. The next question is from the line of Umakant Sharma from Vanj Venture. Please go ahead.
Umakant Sharma
Yeah, hi. Thank you sir, for the opportunity, could you just touch a little bit on the how should we see the RPOB evolving given that we are adding new capacities and similarly as with the new existing capacity as well.
So how should we be seeing the rpobs for the current year as well as going ahead for 27 and similarly what should be the baseline which should be setting up for the margins for the current year as well as for the next year.
Yatharth Tyagi
So if you see you know, the we last year, the you know, RPAP growth, be it not extension hospital or even a, you know, greater Noda hospital, that’s more than 10%. Right. So I mean this would be an expected line. So as far as a new hospital concerned, as Jasas already mentioned that you know, where the the very first day we’re going to start with a very tertiary and quarterly nature of the business and also the institutional business would be significantly low.
So there you will see a very good guidance for rpob concern. I don’t want to give you any particular number, but yes, this will be much better than what probably as of now what we are having it and you see the trend is suggesting the same. I mean more than 10% we are growing. So you can even draw the inferences accordingly.
Umakant Sharma
So would it be fair to say it should be in the range of 30, 33,000 RPOB for the at least for the initial ramp up phase?
Yatharth Tyagi
Yeah, I think that yeah, that start with in fact, to be very honest would be a closer to what probably today we have, you know, Noda extensions and greater Noda.
So closer to 35,000 kind of line start with. Okay, perfect. Okay. And on the margin side, what should be the baseline we should be setting? Given that there’ll be a lot of incremental costs that will be getting added for the current as well as for 27. If you could just throw some color around that as well. I think overall margins we feel of what we have reported in quarter four, the overall margin should be somewhere around that for the whole financial year 26 and 27 individually maybe a 0.5 percentage up or down. But I think the Q4 margins would be a right estimate to take for the financial year going forward.
So you don’t think there could be further dilution even that next quarter is when lot of the capacities will be getting started. You don’t see further downtime. That’s why we said that, you know, quarter four was a bit lower than the full financial year for 25. That’s why we are picking quarter four as the right assumption. And yes we do expect the new facility to start. But also let’s not forget that our existing facilities will also be expanding in margins because there’s still occupancy ramp up that is still remaining in Greater Noida and Nordic Stone Hospital and also the Greater Faridawad Hospital will be a better positive from the coming quarters.
So that is why we feel they will also help in the sustaining the EBITDA margins that we have in quarter four.
Umakant Sharma
Got it, got it. And so one question on the occupancy side, normally in a typical new setup, when you, when you put up a new hospital, especially when you have acquired a hospital, what is the time that it takes from a year standpoint? How much time does it take typically for it to ramp up to a good level of occupancy.
Yatharth Tyagi
So technically if you see our Karidabad and Delhi hospital is innovate Greenfield Hospital. Right.
We are starting business from the scratch. Right. So it takes around 12 to 18 months. 12 to 18 months it will take for us you know to reach operational break event. Right. And then from there and then we’ll see. But. But sometimes it’s May early as well. But we don’t want to commit as such any this thing. But anything it’s Fairly jump in 12 to 18 months would be you know. Right. Assumptions to have reaching your operational break even.
Umakant Sharma
Okay so and what, what occupancy do we say that we are operating? About 30%.
Yatharth Tyagi
It’s a bit closer to anything closer to 35, 30% kind of occupancy which we may consider, you know will be but depends on you know size.
As you know for example is a much bigger hospital. Right. Whereas in Delhi is a 300 bed hospital, 400 bed. So there is a 1 or 2, 3% here and there. Depends on the you know specialty in which location you are and what you know the clinical mix you are starting with. So that varies. But 30% would be a fair exemption.
Umakant Sharma
Got it, got it. And just one last question from the one of the previous part of spelling. Right. Can you just throw some color around this Capex guidance which you have given. So you said that there’s going to be 300 crore of capex which will be incurring on the existing hospital plus there will be some acquisition and all of that.
So this 300 where you’ll be deploying it just throw some color on that.
Yatharth Tyagi
Yeah. So the breakup of 300 roughly, you know you can see that the Faridabad Hospital, the 400 bedded so around 100 crores would still be spent there for the medical equipment as well as construction. Because that is still an ongoing Capex. You know it has not started and we are in the final stage of now procuring the equipment. So that will technically lie for this financial year. So 100 crores will go into the 400 bed Faridabad Hospital. Around I would say 60 to around 55 crores will go to the New Delhi hospital medical equipments also.
That’s also the procurement is still ongoing there so close to around 150 in these two hospitals as far as medical equipments are concerned. And the remaining would also be spent certain amount on our existing five hospitals. That is the Nord extension greater Noida as well as the greater Faridawad Hospital and then the remaining CAPEX will also be spent on the brownfield expansion that we would be doing for other greater noorder NODD extension hospitals where we are adding 200 beds and 250 beds each. So that will also be there and that is how total of 300 crores amount you reach.
Umakant Sharma
Got it, got it. And any color on the acquisition front? Are we evaluating something or on the Greenfield side? Any thoughts for the current year?
Yatharth Tyagi
We would be looking to add at least one facility for this financial year. I think, you know, in the coming quarters hopefully we should be able to give more clarity on that.
Umakant Sharma
Okay, sure. Thank you so much.
operator
Thank you. The next question is from the line of Anuj Kashyap from A3 Capital. Please go ahead.
Anuj Kashyap
Hello. Yes, hello.
operator
Go ahead please.
Yatharth Tyagi
Yeah, yeah, go ahead please.
Anuj Kashyap
I wanted to know that what is the margin differential between our international patients and the domestic patients? Is there any differential?
Yatharth Tyagi
So you know, typically if you see an institutional business and insurance business and international business and cash business, there is, there is a, you know, work on a various percentage institution, they’re going international business will give you probably 1.3x kind of right.
Whereas you know, if it’s 100 rupees, if you take as in a cash business, EPA insurance business will be a probably 90% of it. The institutional business will be a closure to 60 to 65% of it. So this is how it goes.
Anuj Kashyap
And sir, add on to this one question is like sir, in NCR there are a lot of MNCs and there are a lot of institutions. So is there any strategy from our side to capture that market like the wellness stuff which the institutions are focusing on like companies and all.
Yatharth Tyagi
So I think, yeah, I think that for every hospitals, if you see there is a, there is a very separate, you know, institutional business when they talk about just not only the government is about the corporate and psu.
So there are a whole lot of the corporate and PSU existing in this region. And of course we have a separate team who are already working with and most of them would be on our, you know, already been paneled and some of them would be ongoing. So it’s ongoing activity and we have a separate team, a very aggressive team who are working on it.
Anuj Kashyap
What I want to know is that from the past experience as a team, what we have experienced is which is if we have to focus on the capex side, which is beneficial for us, Greenfield or brownfield expansion as your past experience
Yatharth Tyagi
we have, you know, have today, you know, if you see we have always worked on a mixed philosophy.
Yet we started out from Greenfield, the greater Noida Nord Extension, Norda610 have been greenfield expansions. And then going forward we have acquired hospitals. When the company grew we were able to raise capital. We were able to acquire greater fees. Our hospital now Delhi in the Fraser Hospital. So we have seen a mix of greenfield acquisition and now brownfield. Obviously we are expanding the extension and grid nodder. We have had a good fair mix that we are working alongside three Saudis. But one thing that we are clear on is that so far we have always owned 100% equity including the land and the buildings with us and there has been no hospital on O and M lease model.
So I think so far that has been our strength and that is also somewhat helped in our margins as well that having no cost for O and M to share. So I think that has been a strong reason for good margin visibility also. So that’s what we have so far believed in. But as far as Brownfield, Green Tree and Cushion is concerned, we have been doing a mix of the philosophy there. Just a little one more. So we are different. The two sectors are totally different. But the asset light will not work, will not be more beneficial for our balance sheet.
See, I think so far we have, you know, we feel that for us the location and the asset is very important. And you know, sometimes what we can get by, you know, creating a whole infrastructure or by acquiring certain assets which are available 100% equities are not always available for ONM model. And technically also if you look so far even the acquisitions we have done have been sort of hospitals which are non operational. So we have started them afresh from the scratch. We have not acquired assets which are running, you know, so we feel because we do not want to compromise on the quality of the asset, geographic location, infrastructure, minimum size of beds is very important to us and we don’t mind acquiring those assays and starting afresh as a clean slate.
And in fact that has worked for us both the greater Farindabad facility as well as the Jhansi OSHA hospitals but non operational for some time before we acquired it. Similarly how the Delhi hospital model Town hospital was non operational used to function a year ago. So I think because of these factors we are okay with acquiring assets rather than, you know, trying to get them on lease.
Anuj Kashyap
And so last one, is there any like you told you’re looking for the expansion. So sir, how strategically, geographically we can add some different geography to our books so that the, so that we, our Portfolio as a group become balanced.
Are you looking for a geographical differential in this?
Yatharth Tyagi
So we don’t want to go much out of our geography, areas that we are currently present in, you know, so we feel Delhi, ncr, North India, market of up, you know, Haryana, probably nearby states like Punjab, Rajasthan, Bihar, these are strong areas. So this is where we want to be in the coming years. We don’t want to come to southwest. We want to be in the areas where we have strong presence. In fact, if you look, there are hospitals. We have more than one hospital within the same city now.
We have two hospitals in Faridabad, one in Faridabad and in Noida we have three hospitals. So we believe in being the biggest player in the cities and the region where we operate. And that really gives us a much more brand visibility rather than going to areas which are 5,000 km away where we started off from. So at least for the next three to four years, we want to solidify our presence. And, you know, these are the areas which we understand very well today. To attract doctors in NCR is not an issue for us because we have created a brand here.
If we go to other geographies across India, it will take us some time to develop this brand equity yet. So that’s why for the next at least three to four years, we are very clear we want to be in North India, the region we will understand and we feel it’s the easiest growth for us because this shows potential still remaining in the areas where we operate. We will be leveraging that potential as well as the brand.
Anuj Kashyap
Thank you, sir. Best of luck for the future. Thank you.
operator
Thank you. The next question is from the line of Vicky Vagwani from Guardian Capital Partners.
Please go ahead.
Vicky Bhagwani
Hello sir. Thank you for the opportunity. So my first question was on decrease even, it has declined quarter on quarter from 169 million to 129 million.
Yatharth Tyagi
So yeah, basically depreciation declined quarter on quarter. Main reason is because of the defer tax. So there’s a defer tax effect has been created for this quarter to the tune to rupees 3 SR. That leads to the decline in the overall number in current tax.
Vicky Bhagwani
Okay. And sir, what would be the quarterly run rate going forward as we operationalize other hospitals for taxes? Depreciation. Yeah, quarterly depreciation from next quarter.
The amount quarter on quarter will be same what you reported in Q4 excluding the 2 new assets.
Yatharth Tyagi
So this is for the 5 assets as of now. So for all the 5 hospitals, the deposition, what, what we have reported on quarter four will be the same next from next quarter onwards.
Vicky Bhagwani
Okay, thank you so much. So can you please repeat the update on income tax about the subsidiary? And also you highlighted that there is ongoing case about steering company. Please if you can give the details on the scene.
Yatharth Tyagi
Yeah, so what I mentioned earlier in my commentary was, you know we see a huge development in the ongoing income tax matter.
You know the assessment for the aks, which is the Nordic Station Hospital which contributes to, you know that subsidy contributes to 40% to the parent Yathaat company. The assessment has there, you know, has resulted in a requirement for the company to deposit an additional tax of rupees 12.38 million. So we feel it is as per, you know, stance and expectation that it will be a very insignificant financial liability for the, for the company. And you know this is the main subsidy, 40% to contributing the other subsidies. That is a Ram Raja as well as the greater freedom of hospitals are very small contributors to the revenue.
Greater Hyderabad is just 40 crores would be around 60 crores. So now the matter will be for the patent company at heart which operates in Noida as well as the great Noda hospital. So we are quite confident also that going forward this two specific two hospitals will also be resolved and ultimately you know, hoping to close complete income tax matter before the end of this financial year.
Vicky Bhagwani
Thank you so much.
operator
Thank you. The next question is from the line of Anandi from Case Now Wealth Private Limited. Please go ahead.
Yatharth Tyagi
Yeah, hello, yes, it’s World Peace.
Anandi
Yes, numbers. I just want to know what would be the segment revenue breakup in terms of geographical standpoint for the next financial year.
Yatharth Tyagi
So I think you know, we expect, you know how we look at is hospital wise. So you know, the total growth that the Noida region has shown, which includes the Noida hospital, Great Noida Nod extension will still continue at a similar trend because there’s still a lot of occupancy ramp up that is yet to be seen in Nord Extension, Greater Noida and in fact Noda Banten also that we spoke about earlier is increasing in rpop.
So we expect a similar trend of growth there. As far as the Fridavad region is concerned now two hospitals will be working there. So earlier only Gita Faridaad was there. But now the main Faridaad hospital, which will also have cancer treatment, which is a much bigger hospital will start. So the Faridabad contribution of what it was for this financial year of FY25 will in fact actually double if I talk about in the financial year 26 because two hospitals starting there. And also the Greater Faridabad, you know, ramping up the numbers after the full financial year of working.
And as far as Delhi is concerned, it’s a new territory. In fact, in the sense that it is the first hospital we are starting there in the region of Model Town, which is in North Delhi. So you know, probably what the numbers that we have seen in Greater Faridabad for the first financial year could be the numbers that we can see coming up from the Delhi region. So this is roughly the overall analysis that we see, geography wise.
Anandi
Sorry, can you just repeat on the Delhi portion please?
Yatharth Tyagi
Yeah. So Delhi Hospital, we do expect a similar performance of what our Greater Faridabad Hospital has shown in the first financial year.
So I think the numbers coming from the Delhi geographies would be something similar to what a Greater Faridawad has shown for this year.
Anandi
Okay. Okay, thank you.
operator
Thank you, ladies and gentlemen. In order to ensure that the management is able to address questions from all participants in the conference, please limit your questions to two per participant. The next question is from the line of Pratik Bora from Share India. Please go ahead.
Pratik Bora
Hello, can you. Can you hear me? Hello, can you
Yatharth Tyagi
please go ahead? Sir, yes sir, please go ahead.
Pratik Bora
Yeah, sir, I missed the earlier minutes of the call. So can you just guide me about the. What impacted the EBITDA margin on yesterday? It has been 29 to 25. So can you give me some light on that?
Yatharth Tyagi
We were mentioning that somewhere the better margins that we have shown in quarter four should be the right basis for the financial years moving forward. Maybe 0.5% up and down, but something similar to what the EBITDA margin in quarter four are.
Pratik Bora
Okay, sir, one more question was that right now we are having an working capital of 120 increased by 17 days. So can you give me a. That reference to how. What is it doing better
Yatharth Tyagi
as the newer hospitals get operationalized? That is the Noida, the Faridabad Hospital and also the Greater Faridabad, you know, contribution increases for. Because it was just its first year of working there, we just see government business contribution coming to only around 20%. And that will be the real value addition that will be coming on our working days as well as working capital and debtor days. So I think in the long run it is expected to go down for sure. However, what’s important is that we continue to get the receivables each year.
And this year we have seen a good amount of cash flow coming in the company because of the receivables that we have able to recover. So that’s equally important for us going forward also. But yes, we do expect the working capital and receivable days to come down in the long run.
Pratik Bora
Any expected working capital days for the next one year?
Yatharth Tyagi
I think in the long run, after two to three years, we should be closer to the days of equity for the overall company. And yet in the newer hospitals it would be much less. Any future guidance on top line basis for the next initial year FY2.6 I think we will continue to do well.
That’s all we can say. I mean the company has shown, you know, growth of 30% yearly y o Y for last few years now in fact. So not just FY25, but even before that we have continued this growth momentum and we are quite confident in the future also we would like to continue this momentum going forward.
Pratik Bora
So by evaluating the valuation, we can expect the same number, same percentage of growth. Correct.
Yatharth Tyagi
I mean, hopefully that is the way forward. This is what company has done in the past. Maybe.
Pratik Bora
Hello.
operator
Looks like we have the management line disconnected.
We’ll wait for a moment while we reconnect the management line. Sam, we have the management lines reconnected. Mr. Pratik, you can go ahead with your question.
Yatharth Tyagi
Yes,
Pratik Bora
yes. I was asking about the numbers that we are expecting for the future of next one year.
Yatharth Tyagi
We feel the numbers that we’ve delivered in the past year on year should be a sustainable number even for the coming few financial years ahead.
Pratik Bora
Okay, so can you just throw some light on the results? So doubled for this year from 3-24-25. So what we see for the next one to two years overall.
So we are growth.
Yatharth Tyagi
So basically reserve has been doubled because there was a additional profitability which has been arrived in this year by 1305 trillion. Along with that we have done that. There was a security premium which has been there of 6,145 million. And there are certain expenditure related to the expenditure which has been done on the issue expenditure which was being diluted. Hence these are kind of thing for which we have arrived. The kind of a reserve and surplus which has grown to 1591 million.
Pratik Bora
So we will continue this or we will have a segment just because of qip.
Yatharth Tyagi
No, no, no, no. This was the one time which has been done with the QIP. And when the share has been loaded there was a security premium which has been done in the December 2024 which has add to the reserve of 6,145 million. Additionally in this year particularly correct.
Pratik Bora
Thank you, sir.
operator
Thank you. The Next question is from the line of Kunal Dokas from fvc. Please go ahead.
Kunal Tokas
Hello Mahdable.
Yatharth Tyagi
Yes, you are.
Kunal Tokas
Okay, two quick questions. First is you have laid out the capacity growth plan but what is your preference in terms of what would the specialty mix look like after these capacities come online?
Yatharth Tyagi
So you know, so far we have always maintained a good specialty mix.
You know, we are a super specialty hospital. We do not specifically focus on a single specialty. We like to have leading clinicians and high end treatment across all the specialties. But you know, as the transition we have seen in the last few years and the current trend is our super specialties are growing much faster. In fact, the specialties like oncology has increased a lot. And departments like high end neurosurgery, cardiac surgery, these are departments which are increasing and basic general specialties like internal medicine, pediatrics, guided by these are reducing in terms of share of PI.
So going forward also with these new hospitals we would be doing a high end super specialty work and expecting our super specialty contribution to be somewhere around, you know, 60 to 70% in each hospital and probably around 30% would be from the general specialties.
Kunal Tokas
Okay, got it. And second question was you mentioned this in passing earlier that your brand helps you get doctors easily. But for the capacity expansion plans that the industry as a whole has and that you have, do you think talent availability can be a challenge for the industry or for you?
Yatharth Tyagi
See, that is why you know, I earlier mentioned that we like to be in the areas where we already have a, you know, good brand presence.
So you know, when we go into Delhi we, you know, are located. Our previous hospitals are already Noida and greater Faridabad. So there are a lot of doctors even today that come to us from Delhi and a lot of doctors known our brand there. So it’s easier for us to attract star doctors in that region. Similarly for the Faridabad hospital because already we have a hospital in greater Faridabad today. You know, a lot of doctors in Faridabad wants to join us. And in fact in both of these hospitals, Faridabad and the new Delhi hospitals that are opening up, we have already onboarded certain leading specialists and that process is constantly going on right now.
So because we are going in the areas where we understand the market and NCR is not shortage of doctors there, there’s still a lot of doctors that are available in tier one cities. If we try to go to tier three cities, let’s say that in the past from my experience in Jhansi Ocha Hospital, it did Take us time there to onboard super specialist doctors. But in our NCR hospital it is not a challenge for us.
Kunal Tokas
Thank you sir and have a good day.
operator
Thank you. The next question is from the line of Vijay Chauhan from rhpms. Please go ahead.
Vijay Chauhan
Yeah, so I, I would like to understand when do we take the price hike and what is the range for the annual price hike that we take.
Yatharth Tyagi
So typically, you know, that depends on where we are entering into it. So we look at that, we study the market and generally if you, if I tell you that year on year we see the price but it’s not that, you know, on a blanket this side. So we try to look at some speciality, we try to look at some of the, you know, procedures wise.
So every year there are some corrections happens. Right. And, and also on top of it every two years there is a corrections from the dips and insurance pricing. Right. So this is a typically which you see but like when we set up a new hospital coming in or Delhi, we try to look at the, you know, existing market there in a computer what all the pricing and accordingly we’ll put our pricing strategy. So typically year on year you may see and when does it happen? Typically any particular quarter like financial year. Typically financial year, but in between also it’s required that some corrections can happen.
But that too you’ll get advantage of in a cash patients because inference you can always, you know, you can do at one, you can’t do in between.
Vijay Chauhan
Okay, okay. And what is the seasonality in terms of quarter? Like which are the stronger ones and which are the weaker ones for the hospitality space? Can you just throw some light?
Yatharth Tyagi
Yeah. So northern India has a seasonality impact, you know, but seasonality is like, you know, it has an impact on disease mix, you know, that’s a clinical mix because if you see a Q1 and Q4, you may see a, you know, good, good strong quarter.
Right. In terms of the revenue or something. But in terms of the volume, you may see, you know, Q3 is a good volume because of whether or dengue and other things comes. Right. So this has an impact. But you know, when you come to the likes of Q3 you tend to get a, you know, good number of super speciality cases, particularly cardiac and neuro. Right. It has a. Seasonal variations are there but it changes with the, you know, quantitative and quantitative both as well.
Vijay Chauhan
Okay, that makes sense. Okay, thank you.
operator
Thank you. The next question is from the line of Akasha from Asian Wealth. Please go ahead. Okay, thank you. The next question is from the line of Yashpodar from Behanch Ventures. Please go ahead.
Yash Poddar
Yeah, hi, can you hear me? Yeah. So I have two questions on the business front. So the first question is with regards to that going forward as we have already seen a shift in revenue mix from the general internal medicine side towards the specialty segments which has already come into play. So futuristically going ahead, how much does that change the total cost structure and the fund application and in turn how will that affect the capex amount per bed? Does that significantly inch up that amount because of higher capexes in specialty equipments or specialty expansions as such? Or does it keep the cost of operation, the freedom?
Yatharth Tyagi
So you know, the answer cannot be like a 11 answer. So if you look at it, if it’s an existing hospital, right where we are, you know, having operations for the last couple of years where all the super specialities will be there, right. So we don’t require much of, you know, the additional expenditure on it because you’ve already spent on equipment and you’ve already onboarded those supercilious doctors, right? But yes, if you want to start any super speciality high end treatment like a transplant and you know, encore or something, it has a cost in terms of the equipment and infrastructure or a doctor said as well.
So but for the new hospital, let’s say Hyderabad and Delhi, we want to start very first day, absolutely, you know, very high end treatment procedures, you know, quarterly care. So we would like to have a cancer, we would like to have a transplant program there. So there that it totally depends on what type of, you know, the clinical mix you want to, you know, start with that particular facility. So this has this thing and then we solve, you know, Taylor Med. So it’s also see I think it would be right to take it on a year on year basis.
Ultimately the capex and operational efficiencies do not have to start from literally the first quarter when the hospital gets start because it also takes time to get even after operating, you know, to get licenses as far as, you know, let’s say transplant program is concerned and you know, oncology also takes time. The machines usually. So let’s say in our Pridabad hospital the oncology machines will not be there from first quarter. They will be there somewhere around quarter three because it takes time for the machine even after order to come to India. So overall, the whole year, yes, the operational cost spread is there but it still is done quarter on quarter for the company.
So you know, the whole loss doesn’t come straight away from Quarter one. And by the time you wrap up to these specialty treatments, specialty machines, basic hospital working also starts. So ultimately that’s how the overall year end is the right way to look for the first year operating of a hospital rather than looking the first year from quarter to quarter basis.
Yash Poddar
Okay, okay, that’s helpful. And the second question that I have is can you shed some light on the doctors attrition rates within the company? And also you mentioned that because of our current band, you know, we’ve been pulling doctors in from for the specialty segment.
So how does that entanglement look like for the new specialties that we are now which are now contributing important parts of our revenue base and what are some of the ways that we are doing these impanelements and also the attrition numbers for the doctors?
Yatharth Tyagi
Yeah. So firstly, as far as impairment of doctors are concerned, if you look across, our number of doctors across the group have rapidly increased even within the same specialties that we were having earlier. We are having multiple doctors within the same specialty. So it’s not just the newer specialties the new doctors are being, but we’re constantly, you know, engaging with leading doctors of this region of outside NCR also who are joining us in existing specialties also.
So in fact today with these two hospitals getting operationalized, our total doctor count could even touch upwards of, you know, around 800 numbers of 800 doctors. That includes consultants, senior consultants, junior consultants, overall doctor numbers. If I talk about, and you know, accretion has really, you know, come in control for our group. If I talk about three years ago, it used to be much higher but that was because of certain programs that we were not having as far as the educational institutions within the hospitals are concerned. So dnb, as soon as we started, DNB students who are coming to us now, you do not require to hire many junior doctors.
And that is where the attrition is highest because now we get junior doctors from the DND students who join us, remain at least for three years and then pass out with a postgraduate equivalent degree. So that is where attrition has come down a lot. If I talk about, you know, in super specialty and senior doctors, our attrition is not even 20%. And you know, as far as junior doctors are concerned, it has really come down after the start of DND program. In fact, the one place where attrition is still a challenge for lot of hospitals in north India is the nursing attrition.
Nursing attrition is very high compared to even south India. North India and Delhi have this Problem much more. So that is what even today we are trying to take lot of steps as far as doctor retention, nursing retentions are concerned. One of our hospitals, that is a greater hospital will very soon be starting nursing courses where GNM and courses of nursing, BSc nursing students can come and get nursing degree and then we can place them directly place them into our hospitals. There are a lot of steps that we’re constantly taking. And today because we have accreditations like jcie, it is much easier for us to attract these doctors, these nurses because ultimately quality of our hospital does help to attract these talent when it comes to it.
Yash Poddar
Got it. Thanks. Thanks for answering the questions.
operator
Thank you. The next question is from the line of Akshat Mehta from Seven Rivers Holding. Please go ahead.
Akshit Mehta
Yes, sir. So I just had one question. I just wanted to understand. Have we started anything on the brownfield expansions that we were going to do and what is the exact date, you know, is a that they will be operationalized? Is there any update on that?
Yatharth Tyagi
Yeah, so Greater Noda Hospital, the brownfield expansion, the basement working has started. You know there. That is the, you know, the whole architecture plans has been approved, all the compliance work is going on.
And as far as NORD extension is concerned, you know, we are in final stages of finalizing the whole architectural drawing of the brownfield expansion addition of the flows are concerned. So we are quite confident that, you know, within a timeline of 1.5 years from today, we should be having these capacity to use greater order will be much faster because it is a step further ahead.
Akshit Mehta
Okay, thank you sir.
operator
Thank you. The next question is from the line of Saurabh Dhole from two Weekend Investment Advisors. Please go ahead.
Saurabh Dhole
Yeah, thank you so much for giving me the opportunity. I just had one question. The expansion that you did in Jhansi Ocha, the rpobs there are obviously distinctly lower than the rest of the hospitals. So going forward, and especially given the fact that you obviously have a plan of adding some hospitals, at least one hospital with an engineer. Does it mean that you will not go out of New Delhi? And perhaps Jhansi Oja was a lesson that, you know, you should not be venturing out into such areas where R COB acceleration can be a challenge.
Yatharth Tyagi
I think it is nothing specific to Jhansi Orchard only, but in general we feel it is better to stay in tier one cities to at least stay in NCR region.
If not NCR then you know, even there are big cities across UP like Lucknow, you know Kanpur and you know Rajasthan, like Jaipur you know, Punjab has some really good cities that are coming up with the health care market is quite attractive. So I think we feel that this is where we would like to be in the years going forward. And it’s not that, you know, we learned anything different from Jasi. It was as per expectations we expect the hospital to perform on what it is expecting. If you look at it, the investment we have done, we are quite happy with the return that we are getting from Jhansi.
Look at the ROC and the ROE numbers that that hospital has. Yes, the RPOP is not very high. So the scale in terms of contribution to the hospital’s revenue per month or to the whole group is less. But in terms of the amount that we pay to get that property, it is breakeven within our expected timeline. We are generating profits from there. So we are happy with the way the bus is running there as far as going forward. We do feel that the market of NCR and big cities in the nearest states are much attractive and we can make a much bigger impact to the group if we expand in those areas.
So if you look at the roce of perhaps Jhansi Hospital, you know, the rpobs are nowhere close to what the other hospitals are generating. So the kicker on the ROCE comes from what is it the lower initial capital that you put out to buy that hospital or is there any other metric there? Yeah, yeah, the lower capital that was initially done to buy that hospital.
Saurabh Dhole
Okay. And does it also mean that you will not be adding, you know, all sorts of other specialties that you have in the other hospitals at Jansiorcha or will it be at par?
Yatharth Tyagi
No, I mean we are doing almost all major specialties that we have in NCR except oncology and transplant program.
Because see, if you look at transplant program like liver, kidney and bone marrow transplant, majority of the patients who come for the treatment are international patients. So we feel in SIA there’s much scope for those international patients to come. And as far as also oncology is concerned, we feel that it is much better to have those in this region rather than in a place like Jatiosha. But in other hospitals going forward that we will be acquiring, we would be doing all specialties including cancer as well as the transplant program. Just to add one. Just to add what says if you ignore the numbers, see, Jhansi hospital adds lots of goodwill to our brand.
If you look at that existing numbers in a jasi, we are doing a very good supercility work. Neurosurgery, orthopedic, urosurgery is doing a fantastic number. Yes the ARPO is low because we know that you know the kind of Even if you won’t get a insurance rate what you are getting in Delhi NCR right Then their institutional business are much more but it adds lots of value goodwill around around 200, 250 kilometers that that area. Right. And that we also getting us so many supercellularity cases you know from those reasons coming directly to Noda greater Noda side.
So that’s the advantage we have got it.
Saurabh Dhole
That’s very clear. Thank you so much.
operator
Thank you ladies and gentlemen. Due to time constraints that was the last question. I now hand the conference over to the management for closing comments.
Yatharth Tyagi
Thank you everybody for your questions and we hope we were able to take most of the questions and answer. On the whole management of the Hubs customs behalf I thank you. Thank you to the moderator and Nuvama wealth for organizing this earnings call. Thank you.
operator
Thank you so much on behalf of Nuvama Wealth Management limited that concludes this conference.
Thank you for joining us and you may now disconnect your lines.