JUPITER LIFE LINE HOSP L

Operates a chain of multi-specialty hospitals across western and central India — Thane, Pune, Indore and the newly commissioned Dombivli — earning ₹1,499.8 crore in FY26 (+15.2% YoY). The Dombivli greenfield (500-bed capacity with 300 beds currently fitted out across 750,000 sq ft) opened in February 2026 two months ahead of schedule, and a 400-bed quaternary-care hospital is being set up on a one-lakh-sq-ft site in BKC Mumbai, with further projects in the pipeline at Pune South, Mira Road and Thane, taking the long-term bed-count target to roughly 3,000. Revenue is driven by inpatient and outpatient volumes — 10.8 lakh volumes in FY26, with Average Revenue Per Occupied Bed at ₹67,700 and Average Length of Stay of 3.87 days; insurance payers contributed 55.4% of FY26 revenue and government schemes 1%. The model is asset-heavy and expansion-driven: FY26 capex was deployed across Dombivli, BKC land, Pune and Mira Road, with gross debt at ~₹500 crore against cash of ~₹545 crore, leaving the balance sheet net cash positive. Other operating expenses (40.9% of revenue) and employee costs (17.1%) are the largest cost lines, followed by depreciation at 5.8%. A subsidiary has separately acquired Sulcus Private Limited to set up an IV fluids and pharmaceutical manufacturing facility near Ujjain with ₹35–40 crore of further investment planned. AR · MarketPing reader · 2026-08-02

Revenue streams, as the annual report describes them. Hospital services — insurance payers, Hospital services — self-pay and corporate patients, Hospital services — government schemes. Asset-heavy, owned-infrastructure multi-specialty hospital chain in active greenfield expansion.

Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)