Females are no more seen as houseworkers only as there are several examples which show they have earned their positions and the top corporates of the world. From Kiran Mazumdar-Shaw of Biocon to Indra Nooyi, the list can go on and on. Today, we are sharing one such story of 4 sisters who are leading India’s biggest Hospital group Apollo Hospitals Enterprise Ltd.
About a decade ago, Suneeta Reddy and her three sisters took over most executive functions at Apollo from their father. The company was experiencing downfall during those days but the sisters were confident about their strategies which paid off successfully.
86 year old Pratap Reddy is still the chairman of Apollo group with two daughters Preeta Reddy and Shobna Reddy holding the vice-chairman position, Sangeeta and Suneeta as Executive Directors of the company.
So, what strategies changed fortunes for Apollo Group:
Firstly, they started studying the demand for hospitals in different cities and were surprised to see that not many groups are targeting small cities. This made them spread hospitals from metropolises to second-tier cities, where patients were getting richer. But Apollo’s stock tumbled as the sisters’ investments weighed on profits.
Also, they felt the need for premium services to the patients. Others groups joined them in this initiative which turned the health sector into a bigger opportunity than ever. This rose the profit margin from 6 percent to 20 percent for the new hospitals.
The rise of Apollo in share market
The prices of Apollo shares have increased over 30 percent after June 2018. Analysts believe that the share price is expected to rise more. What started from a single hospital in 1983 after Reddy’s father Prathap saw a patient dying because a cutting-edge treatment wasn’t available in India has now reached the total brand value of Rs 2 Billion Dollars having annual revenue of 1 Billion Dollar.
