While matured hospitals (41% of sales) and pharmacy business (40%) are expected to see steady growth with gradual margin expansion, we expect higher growth and Ebitda margin expansion from new hospitals (~33% of bed capacity
In the past (5 years ago), the company had put similar deal team but failed to accelerate the momentum due to focus led by deal advisory team which could not build its focus on the services and capabilities of the company.
We increase our target FY21e multiple for India business to 6x from 5.5x to upgrade the valuation to historical mean level in midst of the down-cycle. Revise TP to Rs 444 (Rs 422 earlier) based on 6x/5x FY21 domestic/internat
Under-construction projects to add Rs 4.6 bn to rentals over next 12-15 months. 2.5 msf of Cyber Park to commence in FY20 (96% is already pre-leased at Rs 119 psf p.m.) and 1.7 msf of Chennai IT SEZ (~60% is pre-leased at Rs
Despite weak near-term consumer sentiment, the management remains confident of achieving 7-9% SSSG (same-store sales growth) for FY20 due to— Western fast food continuing to grow at robust 14-15% in value terms, while India
Investing for next growth cycle: Expects filing of bevacizumab in the US and the EU by end FY20 and approvals by FY22, Development of Insulin Aspart for EU and US, and developing a basket of biosimilars/NCEs in partnership an