KIMS Hospitals Mahadevapura reaches EBITDA profit in Q2 FY27

Krishna Institute of Medical Sciences, operating as KIMS Hospitals, reported that its Mahadevapura Bengaluru hospital became earnings before interest, tax, depreciation and amortisation (EBITDA)-positive in Q2 FY27, generating Rs 5.21 crore on revenue of Rs 69.60 crore. Electronic City remained EBITDA-negative, reporting a Rs 10.60 crore loss on Rs 41.03 crore of revenue.

How did KIMS Hospitals Mahadevapura reach EBITDA positivity?

KIMS Hospitals Mahadevapura reached EBITDA profitability in Q2 FY27 after reporting EBITDA of Rs 5.21 crore, compared with an EBITDA loss of Rs 1.58 crore in Q1 FY27 and a loss of Rs 18.28 crore in Q2 FY26. Revenue rose to Rs 69.60 crore in Q2 FY27 from Rs 55.06 crore in Q1 FY27, following a smaller Rs 2.90 crore revenue base in Q2 FY26.

The presentation reports the move alongside a substantial revenue ramp, but does not disclose a Mahadevapura-specific margin target, cost programme, bed count, occupancy rate or patient-volume data. KIMS Hospitals labels Mahadevapura EBITDA-positive and states that the Bengaluru facility is accredited by the National Accreditation Board for Hospitals & Healthcare Providers (NABH).

Mahadevapura added Rs 14.54 crore of revenue between Q1 FY27 and Q2 FY27 and moved from a loss to positive EBITDA. Electronic City added a slightly larger Rs 15.13 crore of revenue over the same period, while its EBITDA loss narrowed by Rs 7.06 crore. The different outcomes show that the two Bengaluru hospitals were at different stages of their operating ramp during Q2 FY27.

Why did KIMS Hospitals Electronic City remain EBITDA-negative?

KIMS Hospitals Electronic City remained EBITDA-negative in Q2 FY27, reporting a Rs 10.60 crore loss despite generating Rs 41.03 crore of quarterly revenue. In Q1 FY27, its first other disclosed period in the presentation, the hospital recorded revenue of Rs 25.90 crore and an EBITDA loss of Rs 17.66 crore.

KIMS Hospitals does not state why Electronic City remained loss-making, nor does it provide a unit-level break-even timetable, fixed-cost base, occupancy rate or patient-volume measure. The disclosed data show that Q2 FY27 revenue rose sequentially by Rs 15.13 crore and the EBITDA loss reduced by Rs 7.06 crore. This differs from Mahadevapura, where a Rs 14.54 crore sequential revenue increase coincided with a move into EBITDA profitability.

Electronic City is NABH-accredited, and KIMS Hospitals says that its NABH and National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation audit was successfully completed. The hospital also reported more than 50 organ transplants and more than 110 robotic surgeries, including advanced orthopaedic cases. The presentation does not link these clinical activity measures to its Q2 FY27 EBITDA result.

How did the Bengaluru hospitals affect KIMS Hospitals Karnataka results?

KIMS Hospitals Karnataka reported Q2 FY27 revenue of Rs 110.60 crore and an EBITDA loss of Rs 5.40 crore, meaning the combined regional result remained negative despite Mahadevapura turning profitable. Karnataka comprises the Mahadevapura and Electronic City hospitals, according to the presentation, so the cluster result reflects the two units' different ramp-up outcomes.

The Karnataka result improved from Q1 FY27, when revenue was Rs 81.00 crore and EBITDA loss was Rs 19.20 crore. For H1 FY27, Karnataka reported revenue of Rs 191.60 crore and an EBITDA loss of Rs 24.60 crore, compared with H1 FY26 revenue of Rs 3.10 crore and an EBITDA loss of Rs 25.20 crore. Revenue expanded by Rs 188.50 crore year on year, while the half-year EBITDA loss reduced by Rs 0.60 crore.

Karnataka accounted for 7.5% of KIMS Hospitals group revenue in H1 FY27 but represented negative 4.7% of group EBITDA, according to the cluster profile. Telangana accounted for 72.0% of cluster EBITDA, followed by Andhra Pradesh at 21.4% and Maharashtra at 7.8%. The figures show that Karnataka's revenue contribution had grown while the cluster remained loss-making during the first half.

What operating indicators accompanied KIMS Hospitals Karnataka ramp-up?

KIMS Hospitals Karnataka had 800 beds of capacity and 340 operational beds in Q2 FY27, compared with 450 beds of capacity and 150 operational beds in Q2 FY26. Occupied beds increased to 125 from 10, taking occupancy to 36.8% from 6.7%. The presentation defines occupancy as occupied beds divided by operational beds.

Patient activity expanded alongside the addition of beds. Karnataka inpatient volume increased to 4,023 in Q2 FY27 from 160 in Q2 FY26, while outpatient volume rose to 63,698 from 2,503. Average revenue per occupied bed (ARPOB) increased to Rs 94,983 from Rs 51,640, and average revenue per patient (ARPP) rose to Rs 2,71,576 from Rs 1,67,480.

Karnataka's 36.8% occupancy in Q2 FY27 was below the group occupancy of 54.3%, while its ARPOB of Rs 94,983 was above the group figure of Rs 48,277. Average length of stay was 2.86 days in Karnataka, compared with 3.43 days for the group. These regional measures cover both Bengaluru hospitals and therefore do not identify the operating drivers of either Mahadevapura or Electronic City separately.

Conclusion

KIMS Hospitals' Q2 FY27 disclosure shows contrasting profitability outcomes within its Bengaluru expansion. Mahadevapura generated Rs 5.21 crore of EBITDA on Rs 69.60 crore of revenue, while Electronic City recorded a Rs 10.60 crore EBITDA loss on Rs 41.03 crore of revenue. The combined Karnataka cluster produced Rs 110.60 crore of revenue but remained EBITDA-negative by Rs 5.40 crore.

The unresolved matter is Electronic City's route to EBITDA break-even, as KIMS Hospitals discloses no unit-level timetable or target. Subsequent disclosures will show whether revenue growth continues after Electronic City's increase from Rs 25.90 crore in Q1 FY27 to Rs 41.03 crore in Q2 FY27, and whether Karnataka occupancy can build on its rise from 27.6% in Q1 FY27 to 36.8% in Q2 FY27.