The results seem to be inline with expectations. NH had a great result but HCG more or less met expectations in their results as well.
They have indicated that they are concentrating on improving efficiencies and increase RoCE; and they seem to be delivering on that:
- Matured centers, RoCE improved by 570 bps over last FY
- Emerging centers, it improved by 390 bps.
One thing which is not ideal is ARPOB in emerging centers have fallen by 12%. However, the management did mention in the last earnings call that they are focusing on increasing occupancy first (even at lower Arpobs). Once the occupancy is at a steady level, they will work towards increasing arpobs.
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