Q1 2025 Max India Ltd Earnings Call Transcript
Key Points
- Max India Ltd (BOM:543223) reported significant progress across all business verticals in Q1 FY25.
- The company has added 136 new beds to its Antara Assisted Care services, increasing operational capacity to about 200 beds.
- Operational revenue from the Dehradun community increased by 17% over the corresponding last quarter, with a cash surplus of about INR120 crore as of June '24.
- The Noida Phase 1 project has achieved a 99% collection efficiency, indicating high-quality customer acquisition.
- The company has launched new products for respiratory rehab, expanding its product offerings for senior care.
- The RERA application for Noida Phase 2 was rejected, causing a temporary setback and potential delays in project launch.
- Consolidated EBITDA loss increased to INR21.5 crore in Q1 FY25 from INR16 crore in Q4 FY24 due to no inventory to sell in the residences vertical.
- The Bangalore care home is still in the early stages, with only 30 show-arounds and no confirmed move-ins yet.
- Employee expenses have increased due to annual increments and new geography launches, impacting overall costs.
- The company is still awaiting RERA approval for the Gurugram project, which could affect timelines and project execution.
Ladies and gentlemen, good day and welcome to the Max India Limited Q1 FY25 earnings conference call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call.
These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions) Please note that this conference is being recorded.
And now have the conference over to Mr. Rajit Mehta, Managing Director and CEO. Thank you and over to you, sir.
Thank you. Namaste, and good evening to all of you. First of all, greetings on the eve of the 77th Independence Day of our country, may India prosper even more. A hearty welcome to you on behalf of Max India Limited to our Q1 FY25 earnings call.
For the benefit of some of you who are joining the call for the first time, I have with me my colleague, Ajay Agrawal, who's the
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