When we talk about the top healthcare companies in India, names like Fortis, Apollo, and Max often come to mind. However, there’s another name that’s shaping India’s healthcare since 2000—Narayana Hrudayalaya Ltd.
Founded by Dr. Devi Shetty, the first Narayana Heart Hospital opened in Kolkata. Today, Narayana Hrudayalaya Ltd. has grown into India’s sixth-largest healthcare provider by market cap.
As India works to improve its healthcare infrastructure, Narayana Hrudayalaya continues to set new standards in the healthcare sector.
Let’s explore the history of Narayana Hrudayalaya and see where it’s headed.
History of Narayana Hrudayalaya (Narayana Health)
The company’s incredible journey began in 2000 when Dr. Devi Prasad Shetty founded Narayana Hrudayalaya. The first hospital, Rabindranath Tagore International Institute of Cardiac Sciences, opened its doors in Kolkata.
This was followed by the second Narayana Hospital, which was named Narayana Health City in Bengaluru.
These initial steps marked the beginning of a compassionate mission of Narayana Hrudayalaya’s owner, Mr Shetty, to provide world-class healthcare.
As the years passed, Narayana Multispeciality Hospitals continued to expand.
In 2003, Dr. Shetty’s dedication was recognised when he was awarded the Padma Shri, the fourth-highest civilian award in India.
In 2008, the organisation launched new hospitals in Jamshedpur and Jaipur. This was followed by the first Narayana Heart Hospital/ Heart Centre in Dharwad.
Narayana reached a significant milestone in 2009 with the launch of the multi-specialty Mazumdar Shaw Medical Centre (MSMC) in Narayana Health City, Bangalore.
The journey continued in 2012 when Dr Shetty received the prestigious Padma Bhushan, the third-highest civilian award. His tireless contributions to medicine and healthcare were being recognised.
In 2014, Narayana Health made a series of strong business decisions. They acquired hospitals in Barasat and established the Westbank Hospitals and Health & Wellness Institute in Howrah. That same year, their first international hospital, Health City Cayman Islands, began operations.
Additionally, two new hospitals were launched in Bengaluru, and facilities were established in Raipur, Ahmedabad, Mysore, Shimoga, Durgapur, and Guwahati. The same year, Narayana Health City and Narayana Hospital, Jaipur, received esteemed JCI accreditations.
In 2016 Narayana Health was listed on the Bombay Stock Exchange.
In 2017, Narayana Hrudayalaya launched its first pediatric hospital in Mumbai, partnering with SRCC Children Trust.
Their goal was to cater specifically to children’s healthcare needs.
The Narayana Multispeciality initiated a partnership with the Dharamshila Cancer Foundation and Research in 2018.
The organisation expanded into Gurugram in 2019. Just a year later, in 2020, it launched the NH Care app.
This step was taken to ensure people could also take virtual consultations.
In 2022, the company acquired Sparsha Hospital in Bommasandra.
The year 2023 was remarkable in the history of Narayana Hrudayalaya Limited.
Narayana Health set a Guinness World Record for conducting the highest number of ECGs in a single day at a single venue.
Not only this, they achieved CAP accreditation for their laboratory services.
With this, Narayana Narayana Hrudayalaya became the first hospital in South India and the fourth in India to receive this honour.
The same year, they also earned International JCI Enterprise Accreditation.
By the end of June 2024, the Narayana Hrudayalaya’s revenue jumped by 9.46%, bringing in ₹86.41 crore. Both their hospitals in India and the Cayman Islands played a big role in boosting their revenue by 16.7% during the first half of the financial year.
Meanwhile, their reach kept expanding. Narayana Hrudayalaya has spread its network to 18 hospitals and 3 heart centres across India.
Through these achievements, Narayana Hrudayalaya’s story continues to grow.
Narayana Hrudayalaya | Leading the Way in Comprehensive Healthcare
Through the chain of Multispeciality Hospitals, Narayana One Health aims to address the diverse healthcare needs of individuals and families.
Millions have trusted it for over 23 years. Their NABL and JCI-accredited network includes 21 hospitals and numerous clinics throughout India. With a team of over 4,000 top doctors and more than 110 specialities, Narayana Health is committed to delivering healthcare excellence to every individual they serve.
Narayana Multispeciality Hospitals serve cardiac sciences, cancer care, orthopaedics, neurology, gastroenterology, and liver and kidney transplants. Patients can also access healthcare through phone consultations, home visits, clinics, and hospitals.
Narayana Hrudayalaya Products and Services
Narayana operates several hospitals that provide medical care across multiple specialities.
They also have specialised heart centres.
- There are multiple clinics and centres that offer general health check-ups and treatments.
- Narayana Multispeciality also offers specialised care in fields like oncology, neurology, orthopaedics, and more.
- The NH Care app simplifies the healthcare experience by enabling patients to book appointments and consult with doctors.
- Narayana One Health offers scientific assessments that provide personalised health insights and preventive measures.
Financial Performance Overview (Q1 FY25)
As of Q1 FY25, Narayana Hrudayalaya’s revenue was INR 13,410 million, this is a 4.8% rise from the previous quarter.
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)
The company’s earnings before key expenses were INR 3,274 million, which is 24.4% of its revenue. This shows that the company is keeping a good portion of its earnings after covering operating costs.
- PAT (Profit After Tax)
After all expenses, including taxes, the company made a profit of INR 2,015 million, which is 15% of its revenue.
- Total Borrowings
The company has loans amounting to INR 1,549 million, with a low debt-to-equity ratio of 0.05, showing the company is financially stable with little debt.
Overall, Narayana One Health showed strong financial performance in the first quarter of FY25.
FAQs| Narayana Hrudayalaya Ltd
Dr. Devi Shetty, a famous cardiac surgeon, founded Narayana Hrudayalaya in 2000.
Narayana Hrudayalaya is known for offering affordable heart care through innovative processes and cost-saving measures.
For the Q1FY25, Narayana Hrudayalaya’s revenue was INR 13,410 million.
Narayana Hospital is ranked 6th among the top healthcare companies in India by market cap.
Dr Devi Shetty is the founder and chairman of Narayana Health.
Narayana Hrudayalaya was founded in 2000 by Dr. Devi Shetty.
Narayana Health set a world record by performing 3,797 ECGs in a single day.
The legal name is Narayana Hrudayalaya Limited.
Source: Screener
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