HCG plans roughly 1,000 beds by FY30, 60% via brownfield

HCG plans roughly 1,000 additional operational beds by FY30, with 60% expected through brownfield expansion, taking its stated operational-bed base from 2,734 on 31 March 2026 to about 3,680 by FY30. The programme carries disclosed bed capital expenditure of about Rs 550 crore across FY27 to FY30, excluding maintenance capital expenditure.

How will HCG add roughly 1,000 beds by FY30?

HCG plans 188 bed additions in FY27, about 520 across FY28 and FY29, and about 230 in FY30. Those disclosed additions total about 938 beds, while the stated operational-bed path rises by about 946 beds, from 2,734 on 31 March 2026 to about 3,680 in FY30. HCG describes the overall programme as 1,000 beds by FY30, indicating that the headline is rounded.

HCG defines operational beds as revenue-generating, non-census beds. This differs from the 2,465 consolidated census beds reported in Q2FY27 and from total bed capacity of 3,322. The FY30 objective of about 3,680 therefore refers to revenue-generating operational beds rather than all installed capacity across the network.

What proportion of HCG’s expansion is brownfield?

HCG expects 60% of its roughly 1,000-bed programme to come from brownfield expansion at existing facilities. Its schedule identifies 96 brownfield beds in FY27, about 340 across FY28 and FY29, and about 130 in FY30, or about 566 beds in total. Greenfield projects account for 92 beds in FY27, about 180 in FY28 and FY29, and about 100 in FY30.

The FY28 and FY29 period contains the largest identified brownfield block, at about 340 beds, compared with about 180 greenfield beds. HCG names Suchirayu, Jaipur, Nagpur and HCC Ahmedabad among centres receiving additional beds, and separately identifies brownfield additions at Cuttack and Vizag. In FY30, about 130 brownfield beds are planned to be ramped in phases across about seven existing facilities.

The greenfield component includes two projects in FY28 and FY29 and one project in FY30. HCG also lists a 92-bed North Bangalore greenfield project in FY27, alongside the North Bengaluru Hospital becoming operational in May 2026. The plan thus combines capacity ramp-up at existing hospitals with construction at three future greenfield projects.

How much is HCG budgeting for its bed programme?

HCG has allocated about Rs 550 crore of bed capital expenditure from FY27 through FY30. The company lists about Rs 150 crore for FY27, about Rs 300 crore across FY28 and FY29, and about Rs 100 crore for FY30. The largest allocation coincides with the period carrying about 520 planned additions and two greenfield projects.

The disclosed bed capital expenditure excludes maintenance capital expenditure, so it is not a measure of HCG’s total future capital spending. HCG says its completed rights issue strengthened the balance sheet and financial flexibility, but these pages do not identify how the Rs 550 crore programme will be split among rights-issue proceeds, internally generated cash or borrowings.

HCG’s September 2026 balance sheet reported borrowings of Rs 468.62 crore in non-current liabilities and Rs 273.75 crore in current liabilities, compared with Rs 599.19 crore and Rs 311.22 crore respectively in March 2026. Cash and cash equivalents were Rs 120.18 crore in September 2026, down from Rs 536.05 crore in March 2026.

What capacity has HCG operationalized in FY27?

HCG says it operationalized 146 beds in H1FY27: 56 at North Bangalore, 26 at Ranchi, 20 in Kenya, 19 at Borivali, eight at Nashik, five each at Hubli and Nagpur, and seven at Kolkata. The H1FY27 total represents most of the 188 additions scheduled for FY27, although the presentation does not state whether all 146 beds are included in that annual plan.

HCG’s strategic-progress update says the North Bengaluru Hospital added more than 120 beds in May 2026 and commissioned a magnetic resonance linear accelerator, or MR-LINAC. The bed roadmap, however, lists 92 North Bangalore greenfield beds in FY27. The presentation uses both labels and figures but does not explain the relationship between the 120-plus capacity update and the 92-bed roadmap entry.

Consolidated operational beds increased to 2,880 in Q2FY27 from 2,855 in Q1FY27, while total bed capacity rose to 3,322 from 3,304. Over the same period, in-patient volume increased to 82,405 from 78,914, and average revenue per patient, or ARPP, rose to Rs 88,805 from Rs 85,943.

How does HCG connect expansion with its wider priorities?

HCG connects its bed plan with four priorities: optimising the existing network, improving network efficiency, investing in growth and enhancing patient experience. Its growth agenda specifically includes brownfield expansion across key hospitals, strengthening its presence in existing markets and entering identified markets that fit its expansion framework. The scheduled 566 brownfield beds place existing hospitals at the centre of the capacity plan.

The company also cites cost optimisation, operating leverage and asset-light adjacencies such as day care and diagnostics under network efficiency. In H1FY27, operating earnings before interest, tax, depreciation and amortisation, or EBITDA, increased 11.9% year on year to Rs 256.3 crore, while operating EBITDA margin declined 44 basis points to 18.2% from 18.6% in H1FY26.

HCG frames its capital allocation as return-focused and disciplined, but the presentation does not disclose a financial return target for the FY30 bed programme. It does identify plans to improve case mix, scale international business and upgrade infrastructure, while the capacity roadmap also provides for five additional linear accelerators by FY30, taking the total from 38 on 31 March 2026 to about 43.

Conclusion

HCG’s FY30 roadmap relies principally on brownfield expansion, with about 566 of the 938 specifically scheduled beds assigned to existing facilities and about 372 to greenfield projects. The planned rise from 2,734 operational beds at 31 March 2026 to about 3,680 by FY30 supports the company’s rounded target of roughly 1,000 additional beds, backed by about Rs 550 crore of disclosed expansion capital expenditure.

The next disclosed milestones are completion of the balance of 188 FY27 additions, two greenfield projects in FY28 and FY29, and one further greenfield project in FY30. HCG also plans to ramp about 130 FY30 brownfield beds across about seven facilities, while the presentation leaves unresolved how the 120-plus-bed North Bengaluru update aligns with the 92-bed North Bangalore FY27 roadmap item.