Norvic Hospital Turnover Growth Hits Rs 1.33 billion
16th February 2026, Kathmandu
Norvic International Hospital and Medical College Limited has reached a new financial milestone by reporting a turnover of 1.33 billion rupees during the first six months of the current fiscal year 2082/83. This achievement reflects a robust growth rate of approximately 20 percent compared to the same period in the previous year. For a healthcare institution that has been a staple of the Thapathali area in Kathmandu since 1993, this surge in business highlights the increasing demand for high quality private medical services in Nepal. The hospitals ability to maintain such a strong upward trajectory is a testament to its long term strategic planning and its recent transition into a public limited company, which has enhanced its corporate governance and financial transparency.
Norvic Hospital Turnover Growth
The historical turnover figures for Norvic provide a clear picture of its steady expansion. The hospital recorded a turnover of 1.78 billion rupees in 2022, which grew to 1.91 billion in 2023, and reached 1.99 billion in 2024. By the end of the previous fiscal year, the total turnover had climbed to 2.22 billion rupees. With the current half year figure already standing at 1.33 billion, the hospital is well on its way to potentially exceeding 2.6 billion rupees by the end of the current fiscal year. This growth is driven not just by an increase in patient volume but also by the hospitals focus on high margin specialized services, including cardiology, gastroenterology, and in vitro fertilization.
To sustain this momentum, Norvic is currently undertaking one of the most ambitious expansion projects in the Nepalese private healthcare sector. The hospital is in the process of increasing its licensed bed capacity from its original 200 beds to a total of 300 beds. As part of this expansion, construction is currently underway for an additional 159 beds, with the project reported to be over 50 percent complete. The management has targeted the end of the current fiscal year for the commercial operation of these new facilities. This massive infrastructure upgrade, estimated to cost over 3.6 billion rupees, includes the addition of ultra modern modular operating suites and advanced diagnostic equipment. By significantly increasing its inpatient capacity, the hospital aims to reduce patient waiting times and accommodate a larger volume of specialized surgical procedures.
The strategic importance of this capacity expansion cannot be overstated. In the healthcare industry, the number of available beds is a primary determinant of a facility’s revenue potential. By moving toward a 300 bed capacity, Norvic is positioning itself to capture a larger share of the growing middle class market in Nepal, which increasingly seeks out international standard medical care locally rather than traveling abroad. The hospitals partnership with Indias Medanta Medicity for technology transfer and medical expertise further enhances its clinical credibility, making it a preferred destination for complex cardiac and neurological interventions.
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Beyond the physical infrastructure, the hospital is also making significant moves in the capital market. Following the distribution of a 40 percent bonus share from the profits of the previous year, Norvic has appointed Laxmi Sunrise Capital as the issue and sales manager for its upcoming initial public offering. The hospital plans to issue 20 percent of its issued capital, approximately 2.5 million shares, to the general public. This move will make Norvic the first major private hospital in Nepal to be listed on the Nepal Stock Exchange. The proceeds from this public offering are earmarked for funding the ongoing expansion and for retiring high interest debt, which will ultimately improve the hospitals net profit margins and shareholder returns.
Credit rating agencies have recognized the hospitals strengthening financial profile. ICRA Nepal recently assigned an issuer rating of BBB to Norvic International Hospital and Medical College, indicating a moderate level of safety in meeting financial obligations. This rating takes into account the hospitals strong brand image, experienced management team led by Chairman Basanta Kumar Chaudhary and Managing Director Megha Chaudhary, and its diversified revenue streams. While the large scale of the current debt funded expansion project presents some short term implementation risks, the hospitals consistent cash accruals and high patient retention rates provide a solid foundation for debt servicing.
The broader outlook for the private healthcare sector in Nepal remains favorable. As public health infrastructure continues to face challenges in meeting the needs of a growing urban population, private institutions like Norvic are filling the gap. The rising prevalence of lifestyle related diseases and an aging population are expected to drive sustained demand for specialized medical services. Furthermore, the potential for medical tourism, particularly from neighboring regions, offers an additional avenue for future growth.
In conclusion, the first half results for Norvic International Hospital in the fiscal year 2082/83 signal a period of transformative growth. A 20 percent increase in turnover, combined with the nearing completion of a major capacity expansion and a landmark initial public offering, positions the hospital at the forefront of the Nepalese healthcare industry. As the hospital transitions into a 300 bed super specialty facility, its focus on clinical excellence and financial discipline will be the key drivers of its continued success. Stakeholders and market observers will be watching closely as the hospital completes its infrastructure projects and makes its debut on the national stock exchange later this year.
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