Kovai is at 2x of revenue . recently a pvt hospital was traded at 200 crore valuation and 4x sales valuation. Even on /bed Kovai is cheaper . The other one was Artemis which has now 1.5 sales. I do see rerating opportunity on basis of rather than expanding geographically vs not doing mindless expansion. the biggest positive is the medical collage and i believe completing 1st batch there would be one good trigger.
hospital stocks are in trend. almost all pharma fund has exposure of 15-20% in hospital stocks . Kovai is one of bargain available at present.
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