Narayana Hrudayalaya Limited (NH) is one of India’s leading providers of affordable, high-quality healthcare services. With a network of over 40 hospitals and 5,500+ operational beds across India and the Cayman Islands, the company specialises in cardiology, oncology, neurology, and multi-speciality care. Known for its cost-efficient model and strong clinical outcomes, NH has delivered consistent profit growth over the past five years. However, recent financials show a sharp slowdown in earnings momentum. This article provides a fact-based outlook on its share price target for each year from 2026 through 2030.
Narayana Hrudayalaya: Company Overview
- Incorporated: 2000; listed in 2016
- Core Business: Operates multi-speciality and super-speciality hospitals offering cardiac, cancer, renal, neuro, and orthopaedic care
- Geographic Reach:
- India: 18 owned/operated hospitals, 2 heart centres, 20+ clinics
- Cayman Islands: 2 hospitals serving international patients
- Key Strengths:
- High bed utilisation and surgeon productivity
- Asset-light expansion via management contracts
- Strong brand in tier-2/3 cities
- Ownership: Promoter-controlled with 63.27% stake, held by founder Dr Devi Shetty and family
Narayana Hrudayalaya: Key Financial Snapshot
| Metric | Value |
|---|---|
| Market Capitalization | ₹37,945.71 Cr |
| Current Share Price | ₹1,854 (as of Feb 2026) |
| P/E (TTM) | 82.32 |
| P/B (TTM) | 15.84 |
| Book Value (TTM) | ₹117.20 |
| EPS (TTM) | ₹22.56 |
| ROE | 21.42% |
| ROCE | 20.40% |
| Dividend Yield | 0.24% |
| Sales Growth (TTM) | 9.93% |
| Profit Growth (TTM) | 1.56% |
| Cash Reserves | ₹385.88 Cr |
| Debt | ₹1,475.89 Cr |
| Face Value | ₹10 |
Narayana Hrudayalaya Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹1,950 – ₹2,200 |
| 2027 | ₹2,100 – ₹2,450 |
| 2028 | ₹2,250 – ₹2,700 |
| 2029 | ₹2,400 – ₹3,000 |
| 2030 | ₹2,550 – ₹3,300 |
Targets assume gradual margin recovery, controlled capex, and improved profitability from newer facilities.
Narayana Hrudayalaya Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹1,950 | ₹2,200 |
- High P/E (82x) leaves little room for error
- Q4 FY26 performance will be critical to restore earnings momentum
- Risk: Low profit growth despite revenue expansion caps near-term upside
Narayana Hrudayalaya Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹2,100 | ₹2,450 |
- Expected benefit from stabilised operations in the new Bengaluru facility
- Potential inclusion in healthcare-focused ETFs could boost liquidity
- Dividend consistency (0.24% yield, ~20% payout) offers minimal support
Narayana Hrudayalaya Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹2,250 | ₹2,700 |
- By 2028, newer hospitals should reach optimal occupancy (>70%)
- Valuation may stabilise if P/B moderates from the current 15.8x
- Execution risk: High debt (₹1,476 Cr) increases interest burden
Narayana Hrudayalaya Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹2,400 | ₹3,000 |
- Long-term tailwinds from India’s rising healthcare spending (currently <4% of GDP)
- Focus on medical tourism and insurance tie-ups could drive revenue diversification
- ROCE above 20% supports premium valuation—if sustained
Narayana Hrudayalaya Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹2,550 | ₹3,300 |
- If NH sustains 20%+ ROCE and returns to double-digit profit growth, ₹3,200+ is achievable
- However, targets beyond ₹3,500 require significant margin expansion—not currently visible
- Strategic value as a scalable healthcare platform adds long-term optionality
Narayana Hrudayalaya: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters | 63.27% |
| Public (Retail) | 17.72% |
| Foreign Institutions (FII) | 11.10% |
| Domestic Institutions (DII) | 7.91% |
| Others | 0% |
Promoter holding remains stable with no pledging reported, indicating strong alignment with long-term value creation.
Narayana Hrudayalaya: Strengths vs Risks
Strengths
- Scalable, asset-light hospital model
- Strong clinical reputation in complex surgeries
- High ROCE (20.4%) in a capital-intensive sector
- Consistent top-line growth (10%+ sales CAGR)
Risks
- Extremely high P/E (82x) and P/B (15.8x)—among highest in healthcare
- Profit growth stalled at 1.6% despite a revenue rise
- Debt at ₹1,476 Cr (vs ₹386 Cr cash) increases financial risk
- Minimal dividend yield (0.24%) offers no income cushion
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate to High |
| Time Horizon | Long-term (5+ years) |
| Volatility | Moderate |
| Dividend/Income | Very low (0.24% yield) |
| Ideal Investor | Thematic investor betting on India’s healthcare consumption story, comfortable with high valuation and execution risk |
FAQs
A: A realistic range is ₹1,950 to ₹2,200, assuming partial earnings recovery and stable operations.
A: Credible estimates suggest ₹2,550 to ₹3,300 by 2030, contingent on margin improvement and hospital ramp-up success.
A: Reliable forecasts beyond 2030 are not possible. Such long-term projections are speculative and not based on verifiable data.
A: The company is controlled by Dr Devi Shetty and family, who hold 63.27% through promoter entities.
A: Yes, but minimally. It has a consistent dividend history with a current yield of 0.24% and a payout ratio of ~20%.
A: The stock corrected due to stalled profit growth (1.6%), high valuation (P/E > 80), and concerns over rising debt and new hospital losses.
A: No. It carries ₹1,475.89 crore in debt, though this supports strategic expansion in high-growth markets.
Final Verdict
Narayana Hrudayalaya remains a high-quality healthcare provider with a unique cost-efficient model and strong brand equity. However, its current valuation is stretched, and profit conversion has weakened significantly. Our 2026–2030 price targets (₹1,950–₹3,300) reflect cautious optimism—rewarding mission-driven scale but capping upside due to valuation and leverage risks. Best suited for long-term investors with conviction in India’s healthcare revolution.
Disclaimer: This article is for educational purposes only. It is not investment advice. Please consult a SEBI-registered advisor before making any investment decision.
Sources
- Screener.in – Narayana Hrudayalaya Ltd (Consolidated Financials)
- Finology.in – Company Essentials
- BSE India – Shareholding Pattern (Q3 FY2026)
- Narayana Hrudayalaya Annual Report FY2025
- Investor Presentation – Q3 FY2026 Results
Hi, I’m Raj Mittal, a stock market content writer focused on company analysis, share price trends, and fundamental research. I create simple, research-based insights to help investors make smarter market decisions.
