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What is the story about?
Manish Mattoo, Executive Director and CEO of cancer-focused healthcare service provider HealthCare Global Enterprises, said the second wave of growth is being driven by mid-tier centres approaching or crossing the ₹10–15 crore monthly revenue mark, including hospitals in Mumbai, Nagpur, Nashik, Vizag, Kolkata, and Ranchi.
The company plans to add approximately 200 beds over the next 24 months through brownfield and greenfield projects.
Internationally, Kenya has emerged as a standout. Average revenue per patient in Kenya is double the India average, Mattoo said, and the East Africa business grew 39% for the full year and 71% in the most recent quarter. "Kenya is going to be a big market for us," he said, naming it alongside Mumbai, Ahmedabad, Bangalore, Vizag, Kolkata, and Ranchi as hubs expected to grow at an above-average pace.
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HealthCare Global Enterprises Ltd is sticking to its 15% revenue growth guidance for the financial year 2026-27 (FY27) even as the first quarter absorbs pressure from the ongoing West Asia conflict and the deliberate exit from low-margin international business, he said.
Mattoo outlined several levers for margin expansion that go beyond price increases. Clinician productivity is rising at maturing centres, and operating leverage is beginning to come through across the network. The company is also investing in clinical research, genomics, proteomics, and newer treatment technologies — including MR-Linac — at its recently opened North Bangalore facility.
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Payer mix is another key driver: HCG has already recorded 100 basis points of improvement in payer mix over the last two quarters and is targeting double that improvement in FY27.
The new North Bengaluru hospital, which opened recently, will account for roughly 3% of total revenues by year-end — limiting the near-term margin drag — but Mattoo said scale-up will accelerate from FY28 onward. The Bengaluru flagship, by contrast, already contributes 16–17% of total revenues and remains the company's largest single centre, with Ahmedabad as the next-largest hub.
For the full interview, watch the accompanying video
On the portfolio side, HCG has agreed to divest its non-core fertility brand, Milann, for approximately ₹37 crore. Mattoo said the business had been running at reduced scale and was not positioned to grow meaningfully within the company's oncology-focused structure. The proceeds, combined with a recent rights issue, will be channelled into the bed-addition programme.
HCG posted revenue of ₹585.1 crore in the January-March 2026 quarter of the financial year 2025-26 (FY26), up 18% year on year. The company's shares carry a market capitalisation of ₹9,748.69 crore and have gained more than 8% over the past year.
Catch all the latest updates from the stock market here
The company plans to add approximately 200 beds over the next 24 months through brownfield and greenfield projects.
Internationally, Kenya has emerged as a standout. Average revenue per patient in Kenya is double the India average, Mattoo said, and the East Africa business grew 39% for the full year and 71% in the most recent quarter. "Kenya is going to be a big market for us," he said, naming it alongside Mumbai, Ahmedabad, Bangalore, Vizag, Kolkata, and Ranchi as hubs expected to grow at an above-average pace.
Also Read | ixigo bets on AI, hotel expansion as flights become its largest business segment
HealthCare Global Enterprises Ltd is sticking to its 15% revenue growth guidance for the financial year 2026-27 (FY27) even as the first quarter absorbs pressure from the ongoing West Asia conflict and the deliberate exit from low-margin international business, he said.
Mattoo outlined several levers for margin expansion that go beyond price increases. Clinician productivity is rising at maturing centres, and operating leverage is beginning to come through across the network. The company is also investing in clinical research, genomics, proteomics, and newer treatment technologies — including MR-Linac — at its recently opened North Bangalore facility.
Also Read | Embassy Developments targets ₹6,000 crore FY27 pre-sales amid strong housing demand
Payer mix is another key driver: HCG has already recorded 100 basis points of improvement in payer mix over the last two quarters and is targeting double that improvement in FY27.
The new North Bengaluru hospital, which opened recently, will account for roughly 3% of total revenues by year-end — limiting the near-term margin drag — but Mattoo said scale-up will accelerate from FY28 onward. The Bengaluru flagship, by contrast, already contributes 16–17% of total revenues and remains the company's largest single centre, with Ahmedabad as the next-largest hub.
For the full interview, watch the accompanying video
On the portfolio side, HCG has agreed to divest its non-core fertility brand, Milann, for approximately ₹37 crore. Mattoo said the business had been running at reduced scale and was not positioned to grow meaningfully within the company's oncology-focused structure. The proceeds, combined with a recent rights issue, will be channelled into the bed-addition programme.
HCG posted revenue of ₹585.1 crore in the January-March 2026 quarter of the financial year 2025-26 (FY26), up 18% year on year. The company's shares carry a market capitalisation of ₹9,748.69 crore and have gained more than 8% over the past year.
Catch all the latest updates from the stock market here
