Shares of Park Medi World gained over 3% on Tuesday after the company announced the expansion of its Gurugram hospital and outlined an investment plan of around Rs 500 crore over FY27 and FY28 to expand its network to nearly 5,600 operational beds by the end of FY28.
At 3:16 pm, the stock was trading 3.3% higher at Rs 299.25, taking the company's market capitalisation to about Rs 12,949 crore.
In an exchange filing, the company said its wholly owned subsidiary, Umkal Health Care, has approved the expansion of its existing 225-bed Park Hospital in Palam Vihar, Gurugram, by adding 100 new beds. The new facility, Park Hospital Platinum, is being developed with an investment of Rs 25 crore and is expected to be commissioned in November 2026.
Speaking to CNBC-TV18, Sudesh Sharma, Chief Financial Officer of Park Medi World, said, "We would end up this calendar year by commissioning nearly 1,600 beds of capacity, both organic and inorganic combined. This hospital will significantly advance our agenda in the critical micro market of Palam Vihar."
The Gurugram expansion forms part of the company's broader growth strategy. Park Medi World plans to add 150 beds at its Mohali hospital by September 2027, another 200 beds at its Ambala facility by October 2027, and commission a new 250-bed greenfield hospital in Rohtak in January 2028.
The company is also preparing to operationalise a 200-bed hospital in Narela, Delhi, acquired through the insolvency process, later this year. In addition, a 400-bed asset-light hospital in Gorakhpur is expected to become operational around May-June 2027.
Management expects occupancy to moderate to around 62-63% in FY27 from 64% in FY26 as new hospitals ramp up operations.
The Palam Vihar expansion is expected to contribute around Rs 20 crore in revenue during FY27, reflecting about four months of operations. From FY28 onwards, the facility is projected to generate nearly Rs 5.5 crore in monthly revenue while maintaining EBITDA margins of around 26-27%, in line with the rest of the network.