Paras Healthcare Ltd IPO

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Bidding open, closes 23 Oct 2026

Subscription rate
Category	Subscribed
Qualified Institutional Buyers	0x
Non-Institutional Investor	0.08x
Retail Individual Investor	0.69x
Total	0.15x

Updated 21 Oct 2026, 05:31 pm IST

*All values are in ₹ crore

One of the Largest Healthcare Providers in North India, Bihar and Jharkhand with a First Mover Advantage and a Well-Recognized Brand.
Strong Focus on Tertiary and Quaternary Care with High Contribution from CONGOR Specialties.
Capital-Efficient and Flexible Operating Model with Disciplined Expansion.
Delivering High-Quality Clinical Care Through Renowned Clinicians, Supported with Modern Equipment.
Digital Technology Enabling Clinical Effectiveness, Patient Experience and Operational Efficiencies.
Doctor-Led Professional Management Team with Proven Execution Capabilities.

Established hospital network: Paras Healthcare operated eight hospitals with an aggregate bed capacity of 2,211 beds across five states and one Union Territory as of June 30, 2026. It had 1,084 doctors and 1,937 nurses across its network.
Focus on high-acuity specialities: Cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and sports injury, and renal sciences (CONGOR) contributed 74.70% of FY26 revenue.
Growth potential: Revenue from emerging hospitals rose to ₹282.65 crore in FY26 from ₹214.22 crore in FY25. New hospital occupancy also improved to 33.8% from 11.3%. The company plans to expand in Gurugram and Ludhiana, targeting 3,011 beds by March 2028.

Geographical concentration: Five of the eight hospitals contributed 66.07% of FY26 revenue from operations. Any adverse development affecting these hospitals or their regions could affect financial performance.
Dependence on key specialities: CONGOR specialities accounted for 74.70% of FY26 revenue. A decline in demand for these services could materially affect revenue and profitability.
Expansion and utilisation risks: New hospitals remained at an early stage of ramp-up, with occupancy at 33.80% in FY26. Planned expansion requires capital expenditure, and delays or slower-than-expected patient growth could affect returns.

Particulars	FY2026	FY2025	FY2024
Revenue from operations (₹ Cr)	1,605.95	1,294.06	1,129.04
Total income (₹ Cr)	1,628.78	1,314.21	1,151.02
EBITDA (₹ Cr)	335.58	156.46	154.41
EBITDA margin (%)	20.60	11.91	13.42
Profit/(loss) after tax (₹ Cr)	43.83	(57.98)	(15.33)
Diluted EPS (₹)	4.34	(5.94)	(1.57)
Return on Equity (%)	12.98	-18.73	8.32
Return on Capital Employed (%)	10.76	2.71	5.86
Debt to Equity ratio	3.53	4.39	2.73

Hospital category	FY2026 revenue (₹ Cr)	FY2025 revenue (₹ Cr)	FY2026 occupancy (%)	FY2025 occupancy (%)
Mature hospitals	1,179.50	1,010.69	73.27%	66.09%
Emerging hospitals	282.65	214.22	57.83%	48.94%
New hospitals	143.81	69.16	33.80%	11.30%
Total	1,605.95	1,294.06	—	—

Speciality	FY2026	FY2025	FY2024
Cardiac sciences (%)	12.78	11.72	13.24
Oncology sciences (%)	21.63	19.86	18.90
Neuro sciences (%)	13.03	15.13	15.14
Gastro sciences (%)	8.30	6.46	5.11
Orthopaedics and sports injury (%)	10.75	10.69	12.30
Renal sciences (%)	8.21	8.06	7.65
Total CONGOR specialities (%)	74.70	71.92	72.34

Company	Diluted EPS (₹)	P/E (x)
Paras Healthcare	4.34	N.A.
Aster DM Quality Care	7.52	91.89
Apollo Hospitals Enterprise	134.94	59.36
Fortis Healthcare	13.80	55.43
Global Health	20.66	64.46
Jupiter Lifeline Hospitals	5.92	42.92
Krishna Institute of Medical Sciences	6.03	116.41
Manipal Health Enterprises	7.67	87.00
Max Healthcare Institute	14.76	62.10
Narayana Hrudayalaya	39.67	43.41
Yatharth Hospital and Trauma Care Services	18.20	55.16