GPT Healthcare Ltd(GPTHEALTH)

NSE: GPTHEALTHBSE: 544131

₹ 130-2.69%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,067 crWebsite: www.ilshospitals.comUpdated: 24 Oct 2026

About

GPT Healthcare Ltd operates a network of private tertiary and quaternary care hospitals in Eastern India under the ILS Hospitals brand, with five operational units across Kolkata, Agartala and Raipur. The company reported FY26 revenue of ₹472.55 Cr and is expanding toward a 1,000-bed network. Its hospitals focus on high-acuity specialties including cardiology, oncology, neurosciences and robotic surgery, serving a payor mix that is approximately 90% cash and insurance.^[1][2][3]

Hospital network and bed count

ILS Hospital Salt Lake (Kolkata): flagship tertiary care unit; occupancy 62.4% in Q1 FY27, up from ~60% a year earlier; ARPOB ₹45,282 in Q1 FY27.^[2]
ILS Hospital Dum Dum (Kolkata): occupancy 65.4% in Q1 FY27, up from ~60% in Q1 FY26; ARPOB ₹43,041 in Q1 FY27; peaked at 71.22% in Q4 FY26 after cardiac surgery launch.^[2][3]
ILS Hospital Howrah: occupancy 45.2% in Q1 FY27, up 16% YoY; revenue grew 31% YoY in Q1 FY27 on robotic orthopaedics and nephrology/cardiology referrals.^[2]
ILS Hospital Agartala: occupancy 45.3% in Q1 FY27; ARPOB ₹41,573, up ~70% YoY, driven by higher-end tertiary mix and Bangladesh medical-tourism inflows.^[2]
ILS Hospital Raipur: newly commissioned unit ramping up; occupancy 17.4% in Q1 FY27, up from 7% in Q1 FY26; attained NABH accreditation within 13 months of opening.^[2]

Key operating metrics

Network ARPOB: ₹42,350 in Q1 FY27; ₹39,243 for mature hospitals in FY26 vs ₹37,180 in FY25.^[2][3]
Network bed occupancy: 45.5% overall and 58.07% for mature hospitals (excluding Raipur) in Q1 FY27; 45.87% overall and 55.90% for mature hospitals in FY26.^[2][3]
Average length of stay: 3.35 days in Q1 FY27, improved from 3.50 days for FY26 and 3.48 days for 9MFY26.^[2][3][4]
Payor mix: approximately 90% of revenues from cash and insurance patients in Q1 FY27 and FY26; management has explicitly declined to pursue Ayushman Bharat volumes in Kolkata units.^[2][3]

Specialty and clinical services

Salt Lake performed over 800 robotic surgeries in FY26, positioning it as the network's leading advanced tertiary surgical centre.^[3]
Dum Dum launched cardiac surgery; 200 cardiothoracic procedures completed in the first five months as of Q1 FY27; high-end neurosciences also being added.^[2]
Howrah added MAKO robotic knee replacement programme; growing nephrology and cardiology referral volumes as of Q1 FY27.^[2]
Agartala launched comprehensive cancer care including PET scan and LINAC radiation oncology, making it the only integrated oncology unit in Tripura as of Q3 FY26.^[4]
Raipur added oncology, cardiology, renal transplant and liver transplant services; completed its first liver transplant as of Q1 FY27.^[2]

Mature vs ramping hospital split

Mature hospitals (Salt Lake, Dum Dum, Howrah, Agartala) delivered EBITDA of ₹103.9 Cr at a 23.06% margin in FY26.^[3]
Raipur contributed negative EBITDA of ₹13.8 Cr in FY26, pulling the consolidated EBITDA margin to 18.84% vs 23.06% for mature units; additional depreciation and finance cost of ₹12.8 Cr also flowed from Raipur capex.^[3]
Raipur EBITDA loss held at -₹3 Cr in Q1 FY27, narrowing from -₹2.5 Cr per quarter in Q3 FY26; management expects EBITDA breakeven by Q3 FY27 at approximately 25% occupancy.^[2][4][3]

Expansion and capex

Jamshedpur: 155-bed tertiary care hospital under construction with total capex of ₹75 Cr; commissioning targeted in late Q4 FY27 with a possible slip to early Q1 FY28 if regulatory approvals are delayed.^[2]
Incremental debt of approximately ₹25 Cr expected to be drawn in FY27 to partly fund Jamshedpur capex.^[2]
Initial ARPOB at Jamshedpur expected in the ₹38,000 - 40,000 range, gradually converging toward the Kolkata-level ₹42,000 - 43,000.^[2]
Agartala has vacant land available to add up to ~100 beds once occupancy reaches ~70%.^[3]
Network targeted to scale to 1,000+ beds within two years through Jamshedpur plus a seventh hospital; a seventh site is under evaluation in Eastern India cities including Cuttack, Ranchi, Patna, Varanasi and Prayagraj.^[2][3]

Customers and geographic reach

Agartala draws medical-tourism patients from Bangladesh; this contribution fell from ~10% to ~3% of Agartala revenues in FY26 following geopolitical disruption but is recovering as visa requests increase.^[3]
Raipur insurance empanelments delayed to approximately Q1 FY27 (typical 15-month process for new hospitals), constraining early volumes to predominantly cash-paying patients.^[3]
Management is evaluating Tier II cities in Uttar Pradesh, Assam, Odisha and select Tier I Eastern India locations for the seventh hospital.^[3][4]

Recent developments

Raipur received NABH accreditation within 13 months of commissioning and completed its first liver transplant as of Q1 FY27.^[2]
Howrah launched the MAKO robotic knee replacement programme; revenue grew 31% YoY in Q1 FY27.^[2]
Dum Dum restructuring completed a cardiothoracic surgery launch; 200 cardiac surgeries performed in five months as of Q1 FY27, with occupancy recovering to 65.4%.^[2]
Salt Lake ARPOB reached ₹43,862 in Q4 FY26 and ₹45,282 in Q1 FY27, with the robotic surgery programme surpassing 800 cumulative procedures in FY26.^[3][2]

Market Cap

₹1,067 Cr

High / Low

₹175 / 114

Stock P/E

22.6

Price / Book

4.0

Book Value

₹33

EPS

₹5.2

No. of Shares

8.21 Cr

ROCE

19.9%

ROE

16.3%

OPM

13.2%

Debt / Equity

0.06

Sales

₹473 Cr

Net Profit

₹42 Cr

Promoter holding

65.6%

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