Down Town Hospital Ltd
Guwahati's 300-bed NABH-accredited tertiary hospital — the North East's first corporate hospital (1989), ₹91 Cr revenue and ₹5.8 Cr profit in FY25, debt-light with a ₹1 dividend, now building a Courtyard by Marriott hotel next door.
Market cap
₹113.47 Cr
0.30 Cr shares
P/E ratio
19.46
Sector average 40
Book value
₹210.38
P/B 1.78
1-year return
+0.00%
52w ₹170 – ₹375
Currently 100% of the way through its 52-week range.
Indicative price history
1Y change
+116.00% ₹174 → ₹375
52-week band in this window: ₹173.61 – ₹375.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Audited FY25: revenue ₹90.70 Cr, PAT ₹5.83 Cr, EPS ₹19, net worth ₹63.65 Cr, ₹1 dividend; 625 employees.
- 300-bed NABH tertiary hospital, the North East's first corporate hospital (1989); first kidney and liver transplants in the region.
- Dr N. N. Dutta holds 68.58%; 30.26 lakh shares of ₹10; sweat equity issued at ₹173.61 in Sep 2024.
- ₹122.73 Cr Courtyard by Marriott hotel project with a ₹73.80 Cr HDFC loan — the company's first borrowing in years.
About Down Town Hospital
Down Town Hospital Limited runs the 300-bed multi-super-speciality tertiary-care hospital on G. S. Road, Dispur, Guwahati. Incorporated on 31 January 1986 (CIN U85110AS1986PLC002477, RoC Guwahati) and commissioned on 15 February 1989 by surgeon Dr Narendra Nath Dutta, it was the North East's first corporate hospital and the first in the region to be accredited by NABH; its laboratory was the first hospital lab in the region with NABL accreditation. The hospital performed the region's first kidney transplant and its first successful liver transplant, and offers neurosurgery, cardiothoracic surgery, cath-lab cardiology, orthopaedics and joint replacement, nephrology and dialysis, oncology, ENT, radiology and critical care, with 625 employees (280 men, 345 women) at March 2025.
Audited FY25 (year to 31 March 2025, 39th annual report adopted at the AGM of 24 September 2025): revenue from operations ₹90.70 Cr (FY24 ₹86.15 Cr), total income ₹91.43 Cr, profit before tax ₹8.60 Cr (₹8.83 Cr) and profit after tax ₹5.83 Cr (₹6.16 Cr); the directors said margins were under pressure from higher overheads. Earnings per share were ₹19 and the board again recommended a ₹1 dividend on the ₹10 share. Net worth was ₹63.65 Cr (share capital ₹3.03 Cr plus reserves ₹60.63 Cr), trade receivables ₹16.27 Cr, cash ₹6.94 Cr and operating cash flow ₹7.71 Cr (₹14.70 Cr in FY24, which had a large working-capital release). Earlier years: PAT ₹5.37 Cr in FY23 on revenue of about ₹79 Cr.
Capital and ownership: 30,25,900 equity shares of ₹10 (paid-up ₹3.03 Cr) after 25,900 sweat-equity shares were allotted on 16 September 2024 to Dr Dutta at ₹173.61 (premium ₹163.61); authorised capital was raised from ₹5 Cr to ₹10 Cr during FY25. Dr Narendra Nath Dutta holds 68.58% and Bandana Dutta 3.60%; 3A Financial Services Ltd holds 5.03%; Assam Industrial Development Corporation has a nominee director, Sabita Tamuli. The Dutta family also controls the Down Town Charity Trust (CARE BBB, Stable; promoted by the company), which runs Assam Down Town University at Panikhaiti, and the group's nursing school dates from 1993.
The big new commitment is a hotel: the company has begun a Courtyard by Marriott project at Beltola, Guwahati, costed at ₹122.73 Cr, for which HDFC Bank has sanctioned a ₹73.80 Cr term loan secured on the DT Tower property on G. S. Road and personally guaranteed by five directors; ₹6.97 Cr had been drawn by March 2025 and capital work-in-progress rose to ₹10.79 Cr. FY25 also saw new radiology, orthopaedic, ENT and cath-lab equipment and a 128-slice cardiac CT scanner about to be installed. The hospital company was debt-free until this project; the loan is roughly 1.2 times current net worth once fully drawn.
Rate and sources (9 Oct 2026): listed here at ₹375, the UnlistedZone indicative price you asked for, in lots of 100 under ISIN INE06NN01012; other dealers quote lower — wwipl ₹170 (52-week ₹125–170) and Altius ₹260 sell / ₹303 buy — and the September 2024 sweat-equity issue was priced at ₹173.61. At ₹375 the company is worth about ₹113 Cr, 19.5 times FY25 earnings and 1.8 times book, with a 0.3% dividend yield. All figures on this page are from the audited FY25 annual report (downloadable in Deals & documents) except FY23 balance-sheet lines, which are estimates; the company and UnlistedZone sites were blocked from this sandbox.
Where the revenue comes from
- Hospital services — IPD, OT, ICU, procedures72%
Room rent, operation theatre, procedure, consultant and nursing charges (audited break-up: sale of services ₹64.24 Cr)
- Pharmacy & consumables20%
Sale of traded pharmacy goods (audited: ₹17.10 Cr) and finished goods
- Diagnostics & other operating income8%
Lab, imaging and other operating revenue (audited: ₹7.63 Cr)
Products & services
Tertiary clinical services
Cardiology and cath lab, cardiothoracic and neurosurgery, nephrology, dialysis and transplants, oncology, orthopaedics and joint replacement, ENT, critical care, emergency.
Diagnostics
NABL-accredited laboratory, CT (128-slice cardiac scanner being installed), MRI, X-ray, ultrasound, echo and endoscopy.
Pharmacy & consumables
In-house pharmacy for inpatients and outpatients (₹17 Cr of traded sales in FY25).
Courtyard by Marriott, Beltola (under construction)
Hotel project costed at ₹122.73 Cr on the group's G. S. Road land, financed by HDFC Bank.
What works
- • Established franchise: 300-bed NABH hospital with 36 years of operation, the region's first corporate hospital and first for kidney and liver transplants, in a state with limited private tertiary capacity.
- • Consistently profitable and cash-generative: PAT ₹5.4–6.2 Cr a year since FY23, net worth ₹63.65 Cr, no borrowings until FY25 and a dividend paid every year.
- • Cheap on book and earnings at the lower dealer quotes, and even at ₹375 only about 1.8 times book; the land and DT Tower property on G. S. Road sit at historical cost.
- • Group ecosystem — Assam Down Town University, nursing and allied-health colleges — supplies staff and referrals and gives the brand reach across the North East.
What to watch
- • Hotel diversification: a ₹122.73 Cr Courtyard by Marriott project financed mostly by a ₹73.80 Cr HDFC loan takes a debt-free hospital into a capital-heavy, unrelated business worth more than its entire net worth.
- • Thin growth and squeezed margins: revenue rose only 5% in FY25 and profit fell 5% as overheads climbed; competition from Narayana, GNRC, Apollo Excelcare and Nemcare in Guwahati is rising.
- • Price dispersion: UnlistedZone ₹375 versus wwipl ₹170 and Altius ₹260–303, and the promoter's own sweat-equity issue at ₹173.61 in September 2024 — the float is tiny (about 28% outside the family) and quotes are negotiable.
- • Key-person and governance concentration: Dr N. N. Dutta (68.6%) chairs the company, the charity trust and the university; six of eight directors are family members, and five directors guarantee the hotel loan.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Down Town HospitalThis page | ₹375.00 | ₹113.47 Cr | 19.46 | 1.78 | +7.08% |
| VPS Lakeshore | ₹102.00 | ₹1,020 Cr | 26.15 | 2.49 | +3.62% |
| Royal Care Hospital | ₹150.96 | ₹754.8 Cr | 31.45 | 4.39 | +18.32% |
| Ganga Care | ₹320.00 | ₹379.62 Cr | 25.32 | 3.55 | +14.71% |
Latest reported year: FY25 ending 31 Mar 2025.