Aster DM Healthcare eyes 25% of total revenues from India operations

Aster DM Healthcare is eyeing 25 per cent of its total revenues from India operations in the next 3-5 years as it undertakes a slew of initiatives to scale up its business in the country, a top company official said.

The Dubai-headquartered firm operates 13 hospitals and eight clinics in India.

Aster DM Healthcare posted Rs 7,963 crore in revenue from operations for the fiscal year 2019. Around 85 per cent of this was from GCC countries and around 15 per cent from India operations.

"Our aim is to go to 25 per cent of our business coming from India in three to five years. At present around 85 per cent of our business comes from GCC region," Aster DM Healthcare Chairman and MD Azad Moopen told PTI.

For this, the company plans to increase the capacity utilisation of its facilities in India from the current 60 per cent to up to 75 per cent which is optimum. It will make significant improvements in the revenues, he added.

"Another important factor would be that we already have 1,000 capacity beds in our hospitals which are not operationalised yet. Making them operational will have significant increase in our top line," Moopen said.

Apart from this, the company already has announced plans to open two hospitals in Bengaluru, which together will add around 1,000 beds. Besides, the upcoming hospital in Chennai will add another 500 beds, he added.

In addition to this, the company is also entering into the diagnostics segment in India.

"We plan to launch the diagnostics services in India in the middle of January 2020. The diagnostics laboratory business is huge in India and currently there are only a few organised players in the segment," Moopen said.

Commenting on the future road map of the company he said, he would like to step back from an executive role and would focus on CSR and strategic initiatives and let his daughter Alisha Moopen take up the executive responsibilities going forward.

"I am transferring the responsibilities to her one by one. We are giving her three years to perform and prove her capabilities. I would however continue to be in the board," he added.

Aster DM Healthcare is a leading healthcare services provider across GCC (Gulf Cooperation Council) countries with businesses in hospitals, clinics and pharmacy verticals.

The company said it is the third largest player in the healthcare segment in India by market capitalisation.