Ninti Hospital — Financials

Financials · Delhi NCR Flagship

Ninti Hospital
Financial Model

Projected 10-year P&L, balance sheet, cash flow, working capital, and loan schedule for the Delhi NCR onco-focused super-specialty hospital (INR 219 Cr project cost, 30-month construction, COD Month 31).

Currency: INR Crore

Horizon: C1 (construction) → Y10

Y10 Projected Outcomes

RevenueINR 1,334 Cr

EBITDAINR 553 Cr · 41%

PATINR 394 Cr · 30%

Closing CashINR 1,961 Cr

Total Equity (Retained)INR 1,793 Cr

Debt / Equity0.12

Project Cost & Funding

Capital Stack

INR Crore	Amount	%
Project Cost Components
Leasehold Improvement	3.00	1.4%
Medical Equipments	150.00	68.5%
Other Fixed Assets (IT + Furniture)	7.00	3.2%
Pre-Operative Expenses	1.00	0.5%
Contingencies	8.00	3.7%
Operational Loss (gestation period)	48.00	21.9%
Working Capital Margin	2.00	0.9%
Total Project Cost	219.00	100%
Funding Sources
Promoter's Fund	0.15	0.07%
Long-Term Debt (6% p.a.)	218.85	99.93%
Total Funding	219.00	100%

Loan Disbursement Schedule

C1 (construction start): INR 33.80 Cr. C2 (mid-build): INR 67.60 Cr. C3 (pre-commissioning): INR 67.60 Cr. Y1 (post-commissioning opex/WC): INR 50.00 Cr. Total: INR 219.00 Cr. Long-term debt interest: 6% p.a. · Working capital interest: 8.50% p.a.

Income Statement

10-Year P&L Trajectory

INR Cr	Y1	Y2	Y3	Y4	Y5	Y6	Y7	Y8	Y9	Y10
Revenue	145	313	468	649	809	933	1,064	1,198	1,270	1,334
Consumables	36	77	112	152	186	210	234	258	254	260
Doctor Fees	29	61	89	120	146	163	181	198	203	207
Partner Sharing (Lease)	12	16	23	32	40	47	53	60	64	67
Total Direct Cost	77	153	224	305	372	420	468	515	521	534
Gross Contribution	68	160	243	344	437	513	596	683	750	800
Personnel Cost	41	54	66	73	82	92	101	110	119	126
General Admin	34	49	58	63	66	69	73	76	80	84
Selling & Marketing	26	32	33	33	34	35	35	36	37	37
Total Indirect Cost	100	135	156	169	182	196	209	223	236	248
EBITDA	(33)	25	87	175	255	318	387	461	514	553
Depreciation	37	29	22	17	13	11	8	7	5	4
Finance Cost	14	15	16	17	18	19	20	21	22	22
Profit Before Tax	(84)	(19)	49	140	223	288	358	433	487	526
Tax Expense	—	—	—	28	56	72	90	109	122	132
PAT	(84)	(19)	49	112	167	216	268	324	365	394
PAT Margin	-58%	-6%	10%	17%	21%	23%	25%	27%	29%	30%

Balance Sheet

Assets · Equity · Liabilities

INR Cr	C1	Y1	Y3	Y5	Y7	Y10
Shareholder's Funds
Equity Share Capital	0.15	0.15	0.15	0.15	0.15	0.15
Reserves & Surplus	—	(83.86)	(53.60)	225.49	709.46	1,792.87
Non-Current Liabilities
Long-Term Borrowings	169.00	219.00	219.00	219.00	219.00	219.00
Current Liabilities
Short-Term Borrowings	—	8.50	33.78	62.00	83.04	104.96
Trade Payables	—	8.00	16.90	23.81	28.49	31.80
Total Liabilities & Equity	169.15	151.79	216.24	530.45	1,040.15	2,148.77
Assets
Property, Plant & Equipment	169.00	131.63	81.12	50.59	31.74	15.84
Trade Receivables	—	9.06	29.22	50.55	66.50	83.37
Inventory	—	3.02	9.35	15.50	19.51	21.68
Other Current Assets	—	7.25	23.38	40.44	53.20	66.69
Cash & Cash Equivalents	0.15	0.83	73.17	373.38	869.20	1,961.18
Total Assets	169.15	151.79	216.24	530.45	1,040.15	2,148.77

Cash Flow

Operating · Investing · Financing

INR Cr	C1	Y1	Y2	Y3	Y5	Y7	Y10
Operating Activities
PAT	—	(83.86)	(18.71)	48.97	166.84	268.42	394.35
+ Depreciation	—	37.37	28.51	22.00	13.41	8.31	4.12
± Working Capital Changes	—	(11.33)	(17.16)	(16.56)	(17.69)	(14.36)	(6.75)
Net Cash from Operations	—	(57.82)	(7.36)	54.42	162.56	262.38	391.72
Investing Activities
Fixed Assets	(169.00)	—	—	—	—	—	—
Financing Activities
Promoter Contribution	0.15	—	—	—	—	—	—
Long-Term Loan	169.00	50.00	—	—	—	—	—
Short-Term Borrowings (net)	—	8.50	12.87	12.42	13.26	10.77	5.06
Net Cash Flow	0.15	0.68	5.51	66.83	175.82	273.15	396.78
Closing Cash Balance	0.15	0.83	6.34	73.17	373.38	869.20	1,961.18

Working Capital

Asset/Liability Cycle

INR Cr	Y1	Y2	Y3	Y5	Y7	Y10
Current Assets
Trade Receivables	9.06	19.57	29.22	50.55	66.50	83.37
Inventory	3.02	6.39	9.35	15.50	19.51	21.68
Other Current Assets	7.25	15.65	23.38	40.44	53.20	66.69
Total Current Assets	19.33	41.62	61.95	106.48	139.21	171.74
Current Liabilities
Trade Payables	8.00	13.13	16.90	23.81	28.49	31.80
Net Current Assets	11.33	28.49	45.05	82.67	110.72	139.94
Margin (25%)	2.83	7.12	11.26	20.67	27.68	34.99
Working Capital Loan	8.50	21.37	33.78	62.00	83.04	104.96
Interest on Working Capital	0.72	1.82	2.87	5.27	7.06	8.92

Return Profile

Investor Snapshot

Total Project CostINR 219 Cr

Long-Term DebtINR 218.85 Cr @ 6%

Construction / COD30 months / Month 31

Y3 EBITDA Positive Run-rateINR 87 Cr

Y4 First Positive PATINR 112 Cr

Y10 RevenueINR 1,334 Cr

Y10 EBITDA / EBITDA MarginINR 553 Cr · 41%

Y10 PAT / PAT MarginINR 394 Cr · 30%

Y10 Closing CashINR 1,961 Cr

Y10 Reserves & SurplusINR 1,793 Cr

Equity Value Creation

On a promoter equity contribution of INR 0.15 Cr, the Y10 retained earnings trajectory builds to INR 1,793 Cr of reserves. The debt-funded project model transforms a ~INR 219 Cr capital deployment into a ~INR 2,148 Cr asset base and INR 1,961 Cr in cash over the 10-year horizon — contingent on achieving the occupancy and ARPOB ramp targets laid out in the Business Plan.

Full due-diligence package

Monthly build schedule, equipment procurement plan, clinician onboarding pipeline, and sensitivity analyses available on request.

← Executive Summary Business Plan

Disclaimer · Confidential Financial Model

Projected Financials · Forward-Looking

All financial figures are projected and forward-looking, based on management assumptions regarding occupancy ramp, ARPOB, cost structure, and macro conditions. Actual results may differ materially. Investment involves risk of loss of principal.

Ninti Hospital · www.nintihospital.com · info@nintihospital.com