Goyal said, “Hospital business achieved 19% revenue growth compared to last year, and consolidated growth was 17.5%. We are in the growth phase and expect this momentum to continue.”

Occupancy Set to Improve
Asked about occupancy, currently at 67%, Goyal said, “We acquired new assets and started a mental health business, Adayu. These will take time to ramp up. We expect to reach 70% occupancy in about a year.”Margin Expansion on Track
On EBITDA margins, Goyal noted, “Fortis has been improving margins over the last four years. Brownfield expansions and ramp-up of existing facilities will further improve margins. Some underperforming hospitals, like Escorts and CG Road in Bangalore, are now contributing positively. Manesar facility has breakeven EBITDA and is adding to margins.”

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On medium-term margins, he added, “Hospital EBITDA is around 22%, diagnostics 23–24%. We expect hospital margins to reach 24–25%. Diagnostics have shown 8.3% revenue growth, and there is further room for improvement.”
Bangalore Expansion
Regarding the Bangalore plan to expand from 900 to 1,500 beds, Goyal said, “We acquired People Tree hospital and adjacent land. First, we will align the hospital with Fortis standards, then build an onco block. All Bangalore hospitals are doing 20%+ EBITDA margin, and we expect faster growth in this market.”
Revenue Growth Drivers
On top-line growth of 19.4%, he explained, “About 4% comes from acquisitions, another 10% from brownfield expansions, and the rest from ramp-up and high-end care like oncology. Price increases account for only 2–2.5% of growth.”
Future Growth Outlook
Asked about strategic growth, Goyal said, “It’s difficult to give exact guidance, but we expect similar growth going forward. Brownfield expansions will kick in fully next year. Our flagship FMRI hospital’s new block will start contributing to revenue and EBITDA, as it is already operating near 80% occupancy.”

With growth across hospitals and diagnostics, margin improvements, and strategic expansion, Fortis Healthcare appears well-positioned to maintain strong momentum in the coming quarters.