Kathmandu: Norvic International Hospital and Medical College, which is currently preparing for its Initial Public Offering (IPO), has reported a robust turnover of Rs 2.044 billion during the first nine months of the last fiscal year.
This follows a consistent upward trend in the hospital’s financial performance, with annual revenues reaching Rs 2.263 billion in 2025, compared to Rs 2.033 billion in 2024 and Rs 1.94 billion in 2023. The 11 percent growth recorded in 2025 was largely driven by a significant increase in patient flow across both outpatient and inpatient services.
The hospital has experienced a steady rise in healthcare seekers, with the total number of patients growing at an average annual rate of 14 percent. The Outpatient Department (OPD) saw its patient count surge from 94,230 in 2021 to 160,351 in 2025, with a further 8.9 percent increase recorded in the first nine months of the following year. Similarly, the Inpatient Department (IPD) served 8,500 patients in 2025, maintaining a growth rate of 4.6 percent into the next fiscal period. This surge in patient volume has directly contributed to the hospital’s positive revenue trajectory.
Financially, the institution has demonstrated improved operational efficiency, maintaining a 27 percent operating margin in 2025, up from 19 percent in 2022. This improved profitability has significantly bolstered internal cash generation, which rose by 77 percent to reach Rs 419 million in 2025, and further increased to Rs 471 million by the end of the recent nine-month period.
The hospital’s capital structure has also strengthened through a substantial equity investment of Rs 194.4 million in 2025, which improved its net worth and reduced its gearing ratio from 1.25 to 1.17. Additionally, the hospital demonstrated strong liquidity by prepaying Rs 131 million in debt and significantly improving its interest coverage ratio.
To meet growing demand, Norvic is currently fast-tracking a major capacity expansion project to increase its bed count from 116 to 275. Although the project’s estimated cost has risen to Rs 3.322 billion, approximately 58 percent of the investment has already been completed, and the expansion is now in its final stages. The hospital anticipates that the new facilities will begin commercial operations by 2027. To fund this growth, the hospital has secured Rs 1.87 billion in credit and has assigned credit ratings for a total of Rs 2.79 billion in long-term and short-term loan facilities.
Established in 1993 and converted into a public company in 2021, Norvic continues to be a leading multi-speciality healthcare provider in Nepal. Managed by the Chaudhary Group, the hospital is owned by BLC Global Holding and BLC Holding Pvt. Ltd., with Basant Kumar Chaudhary serving as the group’s lead. Under the leadership of Chairman Rajendra Bahadur Singh, the hospital is strategically positioning itself for its upcoming public listing while maintaining high standards of medical excellence and expanding its clinical footprint.
Comment Here