Guidance ledger · Q4 FY26

Aster DM Healthcare ASTERDM

4 revisions on record · 1 lowered · 2 raised — the strikethrough is what management used to say

directional guidance only · held across quarters

Holding view → · latest concall · The pulse

↑ raised Combined group bed target Q1 FY26 → Q4 FY26

~~14,000 beds in 2-3 years (Q1FY26)~~ → 15,000+ beds (4,445 pipeline beds added to 10,620 current)

“includes 4,445 additional beds, which will take our total capacity beyond”

↑ raised Aster standalone bed expansion capex Q1 FY26 → Q4 FY26

~~INR 2,500 crores for 2,600 beds~~ → INR 2,700 crores for ~2,500 beds over 4 years

“we plan to add ~2,500 beds at the cost of INR 2700 crores .”

→ narrowed Post-merger EBITDA margin target Q2 FY26 → Q4 FY26

~~24-25% in 2-3 years (Q2FY26)~~ → 24-25% in 2-3 years (maintained through Q4FY26)

“we are looking for a 24%-25% margin with a sizable expansion and capacity volumes as well as top line as we move forward.”

↓ lowered Sarjapur greenfield commissioning timeline Q2 FY26 → Q3 FY26

~~H2 FY27~~ → beginning of FY28 (delayed by 1-2 quarters)

“Sarjapur road hospital, right? So, what has happened is that it took us some time to get the drawing approvals and all and construction has just started, basically the interiors and everything. So , it should come mostly in the Feb-end of FY27, that's where we moved it to the beginning of FY28.”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.