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Conference Call Overview • Date: May 24, 2024 • Transcript available on the company's website and shared with BSE and NSE. • Key executives present: Rajit Mehta (MD and CEO), Ajay Agrawal (Deputy CEO and CFO). • Focus on forward-looking statements and company performance.
Financial Performance Highlights • Q4 FY24 Results: • Consolidated EBITDA loss of INR 34 crores (down from a gain of INR 12 crores the previous year). • Operational revenue increased by 32% to INR 22 crores. • Strong balance sheet with INR 435 crores in treasury assets and a net worth of INR 492 crores.
Business Updates • Real Estate: • 100% inventory sold in Dehradun, generating INR 680 crores. • Noida inventory sold out with 99% collection efficiency. • New projects in Gurugram and Bengaluru expected to launch in FY25.
• Antara Assisted Care: • 55% increase in net revenue to INR 25.1 crores. • Plans to expand care home capacity and introduce new health conditions under AGEasy brand. • 94% increase in net revenue for Antara Assisted Care in Q4 FY24.
• AGEasy Platform: • Generated INR 1.43 crores in revenue. • Aims to create an integrated care ecosystem for seniors.
Occupancy and Market Insights • Gurugram Care Home occupancy increased to 71%. • North market developing compared to established markets in the West and South. • Future capital raises may be considered as growth scales up.
Customer Satisfaction and Feedback • High customer satisfaction scores: • 93% for Care Homes • 95% for MedCare • 90% in Dehradun • 2,600 repeat customers in AGEasy with a 38% cross-sell rate in care homes.
Marketing and Growth Strategy • 7-8% of revenue allocated to marketing. • Upcoming launch of Bannerghatta Care Homes with a robust go-to-market strategy. • Targeted IRR for new projects above 20%.
Closing Remarks • Focus on expansion, investments in bed capacity, human capital, and marketing. • Plans to add approximately 600 beds in the coming year. • Vision to create 4,000 to 5,000 units, including 1,500-2,000 bed care homes and memory care homes.
Conference Call Overview • Date: February 8, 2024 • Transcript submitted to stock exchanges and available on the company website. • Key management personnel participated, including the Managing Director and CFOs. • Included forward-looking statements and a Q&A session.
Key Achievements and Updates • Antara Senior Care: Certified as a Great Place to Work. • Dehradun Residency: Fully sold out with high resident satisfaction. • Noida Project: On track for completion by March 2025. • New Projects: Progressing in Gurgaon, Bangalore, and Hyderabad.
Financial Performance • Consolidated Revenues: Decreased by 3% to Rs. 45 crores due to inventory issues. • Balance Sheet: Strong with Rs. 500 crores in treasury assets. • Customer Satisfaction: High across services, with notable satisfaction rates.
Customer Satisfaction Metrics • Care At Home: 94% satisfaction rate. • Medcare: 95% satisfaction rate. • AGEasy: 61% NPS score and 70% renewal rate.
Business Expansion Plans • Future Goals: Expand to 8-10 cities, aiming for 4,000-5,000 senior living units and 1,500-2,000 care home beds in 5-7 years. • Target Market: Focus on affluent households.
Growth Insights • Care At Home: 64% increase in patients served and 45% rise in revenue year-on-year. • Pricing Strategy: Align with market conditions and customer affordability. • Silver Economy: Expected growth with increasing government investment.
Competitive Edge • Integrated Care Ecosystem: Combines healthcare, real estate, hospitality, and insurance expertise. • Talent Acquisition: Onboarding skilled professionals to support growth.
Customer Retention and Acquisition • Care At Home Revenue: 50% from renewals; AGEasy has 1,200 repeat customers. • Projected Turnover: Rs. 750 to Rs. 850 crores by FY29 from senior living communities. • Acquisition Strategies: Digital marketing and referrals from healthcare professionals.
Closing Remarks • Management expressed confidence in growth strategy and customer satisfaction. • Plans for expansion and establishment of multiple communities across India.
Max India Limited Conference Call Summary (November 2, 2023)
Conference Call Overview • Date: November 2, 2023 • Event: Investors & Analysts Conference Call • Previous Event: Held on October 27, 2023 • Key Executives: Rajit Mehta (Managing Director) and financial officers • Transcript Availability: Accessible on the company's website
Company Performance Highlights • Residential Segment: • Doon nearly sold out with 183 apartments handed over • High resident satisfaction scores • Construction Updates: • Progress on three towers in Noida • Projects in Gurgaon and Bengaluru in negotiation stages • Antara Assisted Care Services: • 68 operational beds in Gurgaon • Plans for additional beds in Bangalore and Chennai • Care at Home Service: • Served 12,000 lives focusing on critical care and physiotherapy
Financial Performance • Q2 FY '24 Revenues: INR 55 crores (up from INR 46 crores in Q1, down 10% year-on-year) • EBITDA: Improved to INR 1.5 crores • Net Worth: INR 529 crores • Revenue Growth: • 33% increase in Antara Assisted Care • 27% rise in Care at Home • AGEasy Platform: Launched in August with promising traction
Expansion Plans • Target Cities: Noida, Gurugram, Bengaluru, Hyderabad • Community Developments: • Condominium-style high-rises for seniors • Focus on emergency medical care and memory support • Future Goals: Establish 8 to 10 communities with around 5,000 units
Customer Engagement and Satisfaction • Patient Services: Over 15,000 served through Antara Assisted Care • Medical Equipment: Approximately 800 SKUs available • Customer Satisfaction: 94% positive feedback rate, 70% renewal rate
Q&A Session Insights • Care Home Business: • No new beds added this quarter; target of 360 beds by March 2024 • AGEasy Platform: Expected loss of INR 30 crores in FY '24 due to marketing costs • Pricing Strategy: Adapting based on market demand and location • Intergenerational Project: Launching in Gurgaon based on local demand
Future Outlook • Expansion Strategy: Focus on high-margin services and sustainable growth • Capital Allocation: INR 200 crores for senior living communities, INR 300 crores for Antara Assisted Care • IRR Target: 20% for the Noida project, affected by COVID-related delays • Commitment: Building an integrated care ecosystem for seniors and achieving growth targets
Conference Call Overview • Date: August 11, 2023 • Purpose: Discuss unaudited financial results for Q1 FY24 • Compliance: Transcript submitted in accordance with SEBI regulations • Participants: Key executives including CEO, CFOs, and heads of investor relations
Key Highlights from the Call • Expansion Plans • Planning three new residential communities in Dehradun, Noida, Gurugram, and Bangalore • Expanding Care Home services in Bangalore and NCR to reach 360 beds by FY24
• Financial Performance • Revenues flat at Rs. 46 crores due to limited inventory • Consolidated EBITDA loss of Rs. 7 crores • Cumulative sales collections up 17% year-over-year • Significant revenue growth in Antara Assisted Care (30%), Care at Home (43%), and MedCare (71%)
• Integrated Care Ecosystem • Focus on creating 8 to 10 communities for approximately 10,000 residents • Unique combination of healthcare, hospitality, and real estate services
Community Development Insights • Dehradun Community • Debt-free with strong sales and a 90% resident satisfaction score • 50% of sales from referrals
• Noida Community • Launched in 2020, sold out with a 50% price increase • Awaiting approvals for Phase-2
• Future Plans • Expansion into Gurugram and Bangalore, with potential for other cities • Antara Assisted Care has served 14,000 patients
Q&A Session Highlights • Net Cash Position • Approximately Rs. 263 crores in cash and cash equivalents
• Revenue Outlook • Current flat revenues due to sold inventory; expected growth from new projects
• Memory Care Services • Acknowledgment of stigma around dementia; optimism for changing perceptions
• Project Updates • Noida Phase-2 awaiting RERA information; construction has commenced
• Care at Home Segment • Improved employee engagement leading to reduced attrition rates
Legal and Operational Updates • Fire Incident • Ongoing legal matter with a charge sheet filed; company named as a victim
• Operational Shift • Transitioning to fully managed care homes; discontinuation of Jasola care home
• Intergenerational Community Project • 33% of space dedicated to senior living; expected annual revenue of Rs. 20 crores from Dehradun project
Closing Remarks • Commitment to creating an integrated ecosystem for seniors • Gratitude expressed for stakeholder support
Conference Call Overview • Date: June 1, 2023 • Focus: Transcript of Investors & Analysts Conference Call held on May 26, 2023 • Key Executives: Rajit Mehta (Managing Director), Ajay Agrawal (CFO) • Content: Discussion of audited financial results for FY ending March 31, 2023
Financial Performance Highlights • Revenue Growth: 16% increase to INR 213 crores for FY '23 • EBITDA Improvement: From a loss to INR 12 crores • Sales Performance: • 25% rise in collections in Dehradun • Noida Phase 1 sold out, generating INR 252 crores • Antara Assisted Care Services: 42% revenue growth to INR 16.1 crores
Operational Updates • Care Homes: • Over 150 beds in NCR, plans for expansion • High occupancy rates despite a recent incident affecting one care home • Residential Real Estate: • 91 units sold in Noida, generating INR 170 crores • RERA applications filed for Noida Phase 2
Strategic Initiatives • Healthcare Partnerships: Expanding collaborations and launching a virtual store for medical equipment • Customer Acquisition: Focus on partnerships with hospitals, digital marketing, and engaging residential welfare associations (RWAs)
Future Plans • Intergenerational Project: Launch in Gurugram targeting Q4 FY '24 • Senior Residences: Aim for 8-10 communities across India, totaling 4,000-5,000 units • Care at Home Segment: Focus on high-margin services and leveraging care homes for customer base
Lease and Financial Projections • Lease Terms: Typically nine years with renewal options • Expected Collections: INR 550 crores from Noida Phase I, with INR 80-90 crores expected in FY '24 • Price Expectations: Noida Phase II anticipated launch at INR 12,500 to INR 13,000 per square foot
Closing Remarks • Commitment to creating an integrated ecosystem for seniors • Emphasis on enhancing services and products for senior care • Gratitude expressed to participants for their support and interest
Conference Call Overview • Date: February 2, 2023 • Transcript submitted on February 8, 2023 • Key Executives: Rajit Mehta (Managing Director), Sandeep Pathak (CFO) • Focus: Unaudited financial results for Q3 and nine months ending December 31, 2022 • Disclaimer: Potential transcription errors and forward-looking statements
Key Highlights • Condolences for Incident: Acknowledgment of a tragic fire at Antara Assisted Care facility, commitment to safety and support for affected families.
• Financial Performance: • 9-month revenue increased by 6% to INR 153 crores. • Q3 revenue increased by 8% to INR 46 crores. • EBITDA surged sevenfold to INR 6.5 crores. • Significant growth in Residences segment, especially in Dehradun and Noida.
• Antara Assisted Care Growth: • 34% revenue increase; Care Homes revenue doubled. • High resident satisfaction scores (above 93%) and renewal rates (over 70%). • Plans for expansion into southern and western India.
Strategic Focus • Care at Home Segment: • 35% revenue growth; focus on high-margin services (critical care, physiotherapy, diagnostics). • Expansion into new geographies planned.
• Expansion Plans: • Aim to establish 8-10 senior living communities and 2,000 beds in the next five years. • Advanced discussions for new projects in Gurgaon, Bangalore, and Pune.
• Care Home Business: • Targeting a two-year breakeven period for new facilities. • Expected revenues of INR 3-5 crores per unit.
Operational Updates • Greater Kailash Care Home: Currently not operating but expected to reach breakeven soon. • Medical Equipment Business: Modest turnover with growth potential through e-commerce. • Impact of GST Notification: No impact on operations; no subscription models offered.
Conclusion • Commitment to high growth, profitability, and scaling operations across four verticals. • Strong liquidity to support future growth. • Gratitude expressed for stakeholder engagement during the call.