Narayana Hrudayalaya‘s Cayman Islands healthcare operations generated 4.32 billion rupees (CI$40.5 million) in revenue during the second quarter of this year.
This represents a 78% increase from 2.42 billion rupees (CI$22.7 million) in the same period in 2024, the Indian healthcare conglomerate said in a press release on 14 November.
Quarter-on-quarter, the Cayman revenue grew 8.8% from the previous quarter, maintaining consistent growth momentum throughout the fiscal year.
The Cayman revenue surge helped drive the parent company to record quarterly results, with total group revenue reaching 16.4 billion rupees, up 20% year-on-year, according to financial results released to Indian stock exchanges.
Health City Cayman Islands contributed 26% of total group revenue in the quarter ending 30 September.
This was up from 18% in the same quarter of 2024, demonstrating the growing importance of the Caribbean operations to the overall business.
Dr Emmanuel Rupert, managing director and group chief executive officer, said: “Our hospital business in Cayman continues to deliver robust performance, with the insurance business showing strong growth, resulting in record revenues for the region.”
The strong Cayman performance contributed to Narayana Hrudayalaya achieving its highest-ever revenue and profitability at both India and group levels, with consolidated profit after tax rising 30% to 2.58 billion rupees (CI$24.15 million).
The group’s earnings before interest, taxes, depreciation and amortisation margin improved to 25.9% from 24.3% a year earlier, reflecting operational improvements across the network.
Narayana Hrudayalaya operates 18 hospitals and two heart centres across India with more than 5,550 operational beds, alongside its overseas presence in the Cayman Islands.
During the quarter, the group’s Indian facilities achieved several milestones, including completing more than 1,000 robotic surgeries at one facility and setting national benchmarks for robotic cardiac procedures.
The company received a prestigious award for clinical governance from the International Hospital Federation and American College of Healthcare Executives at their annual congress in Geneva.
As of 30 September, the group’s net debt to equity ratio stood at 0.06, with US$69 million of debt denominated in foreign currency, indicating a strong balance sheet position.
Health City Cayman Islands opened in 2014 with the support of the Cayman Islands government, offering tertiary care services including cardiac surgery, orthopaedics and oncology
The facility has positioned itself as a medical tourism destination for the Caribbean region and Latin America, offering complex procedures at competitive prices compared to US healthcare costs.
