Park Medi World Ltd(PARKHOSPS)

NSE: PARKHOSPSBSE: 544645

₹ 215.5-1.01%refreshed 23 Oct, 03:52 pm ISTMarket cap: ₹ 9,308 crWebsite: www.parkhospital.inUpdated: 24 Oct 2026

About

Park Medi World Ltd runs multi-super-speciality hospitals in North India under the 'Park Hospital' brand. Its FY26 annual report describes a network of 17 hospitals and 4,290 beds in 15 cities across six states, making it North India's second-largest hospital chain by bed capacity and the largest private chain in Haryana and the Tricity area. Revenue was Rs 1,679.36 crore in FY26. About 78% of revenue came from government and institutional payors as of Q4 FY26.^[1][2]

Network and bed capacity

Operational beds stood at 3,960 as of 30 June 2026 (+32% YoY), up from 3,610 beds at 31 March 2026 and 3,000 at the start of FY26.^[3]
As of 31 March 2026, total bed capacity was 3,610 beds, of which 3,410 were operational, including 956 ICU beds.^[1]
The FY26 annual report describes 17 hospitals and 4,290 beds across 15 cities in six states.^[1]
The network has about 100 operating theatres, 17 cath labs, 17 CT scanners, 19 MRI machines and 125 dialysis machines (FY26 annual report).^[1]
FY26 added 610 beds: 250 in Bathinda (commissioned July 2025) and 360 in Agra (commissioned February 2026).^[4]
Planned additions in calendar 2026 total 1,490 beds (Agra 360, Bhatinda 250, Panchkula 350, Narela 200, Palam Vihar 100, Zirakpur 150, Rudrapur 330), against a CY2025 base of 3,250 beds.^[3]
The company owns the land, buildings and equipment at most of its hospitals. It says this avoids rental expense of 6 - 7% of revenues.^[1]

Specialities and services

The service portfolio covers over 30 specialities, including oncology, neurology, cardiology and renal sciences.^[1]
The top six super-specialities made up 56.9% of revenue in FY2026, up from 49.2% in FY2023.^[1]
High-end specialties made up about 62% of revenue in Q1 FY27, up from about 57% a year earlier. Neurology was about 14.5%, cardiology about 12% and oncology about 9-10%.^[3]
The robotic surgery programme has five systems, including two Da Vinci 5th Generation Xi robots.^[1]
In FY26 the network performed over 150 robotic kidney transplants, about 4,700 high-end PTCA procedures and about 2,600 robot-assisted knee and hip replacements.^[4]
Oncology's share of revenue rose from about 5% to about 6.5% in FY26, and from 6% to 8% in Q4 FY26.^[4]

Key operating metrics

Full-year FY26 ARPOB was ₹28,005 and average length of stay was 6.28 days, the highest ARPOB and lowest stay on record.^[1]
ARPOB was ₹30,444 in Q1 FY27, up from ₹27,221 in Q1 FY26 (+12% YoY).^[3]
ALOS was 5.9 days in Q1 FY27, down from 6.4 days in Q1 FY26.^[3]
Network occupancy was 56% in Q1 FY27 vs 68% in Q1 FY26, as 960 ramping beds entered the base. Full-year FY26 occupancy was 64.1%.^[3]
Most mature hospitals run at occupancy above 70% (FY26 annual report).^[1]
The network served more than 8.73 lakh patients in FY2025-26, its highest ever.^[1]
Inpatient volume was 26,304 in Q1 FY27 (+16% YoY) and outpatient volume was 2,23,446 (+17% YoY).^[3]

Payor mix and patients

Government and institutional payors provided about 78% of revenue as of Q4 FY26.^[1]
Government payors (CGHS, ECHS and allied central schemes) accounted for 77% of revenue in Q1 FY27, and non-government payors for 23%.^[3]
A CGHS rate increase of 12-15% took effect in October 2025 and partly reached Q1 FY27 results. The full effect is expected from Q2 FY27.^[3]
Management aims to move the payor mix to 70% government and 30% non-government within 12-15 months of Q1 FY27.^[3]
International patients provide about 3%-4% of revenue (FY26 annual report).^[1]

People and medical education

The FY26 workforce was 6,423 employees, including 1,168 doctors and 2,215 nursing professionals.^[1]
The company has 63 DNB seats across specialties for medical education.^[1]
Four more hospitals are targeted for NABL lab accreditation in FY27, which would bring the network to 13 accredited labs.^[3]

Expansion and capex

Narela (200 beds, Delhi), the Palam Vihar extension (+100 beds) and Zirakpur (150 beds) are targeted for November-December 2026, taking the network to 4,740 beds by the end of FY27.^[3]
About 1,000 beds are planned for FY28 (Gorakhpur 400, Ambala +200, Mohali +150, Rohtak 250), which would take capacity to 5,740 beds by March 2028.^[3]
Capex and acquisition spend over FY27 and FY28 is guided at ₹767 crores for 2,130 beds, a blended ₹36 lakhs per bed.^[3]
Average capex is about ₹3.5 mn per bed, compared with an industry benchmark of ₹9.5 - 10 mn (FY26 annual report).^[1]
The long-term aim is to grow from about 5,460 to more than 10,000 beds between FY28 and FY33 and to expand beyond the current 16 North India districts.^[4]

Recent developments

Shares were listed on NSE and BSE from 17 December 2025, after the IPO.^[1]
On 25 May 2026 the company agreed to buy The Medicity Hospital, Rudrapur (330 beds, Uttarakhand) for about ₹177 crores in cash. It was commissioned on 2 August 2026, adding Uttarakhand to the network.^[3]
On 3 August 2026 the company agreed to buy Mehar Hospital, Zirakpur (150 beds) for about ₹107 crores in cash, taking the Tricity cluster to about 1,000 beds.^[3]
Promoter holding of 82.9% must fall to at least 75% by December 2028 through equity dilution. The method has not yet been decided.^[3]
Term debt, excluding leases, was ₹25.6 crores at 30 June 2026, down from ₹450 crores at the start of FY26.^[3]
Debtor days fell from 161 in FY25 to 129 in FY26.^[4]

Market Cap

₹9,308 Cr

High / Low

₹305 / 138

Stock P/E

38.1

Price / Book

4.9

Book Value

₹47

EPS

₹6.0

No. of Shares

43.19 Cr

ROCE

16.8%

ROE

12.8%

OPM

24.2%

Debt / Equity

0.11

Sales

₹1,679 Cr

Net Profit

₹274 Cr

Promoter holding

82.9%

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