Facility targeted for completion within two years; Uttar

Pradesh healthcare capacity to expand through Park Group’s strategic

investments

Prayagraj, 13 Oct (HS): Park Medi World Limited (NSE:

PARKHOSPS; BSE: 544645) has been awarded a mandate under the Public–Private

Partnership (PPP) model by Prayagraj Municipal Corporation to develop and

operate a 550-bed multi-super-speciality hospital in Prayagraj, Uttar Pradesh.

The project entails an investment of approximately Rs. 200 crore by Park Group

towards construction, with completion targeted within two years from the

appointed date.

The hospital will be developed on a 3.22-acre site allotted

by the Municipal Corporation and operated under a long-term concession of 45

years. The project aims to strengthen access to advanced healthcare services

for residents of Prayagraj and neighbouring regions, while expanding Park

Group’s presence in Uttar Pradesh.

Under the concession agreement, Rs. 76.52 crore will be

reimbursed by the Municipal Corporation towards hospital construction. Park

Group will pay an annual concession fee of Rs. 18.10 crore, subject to an

annual escalation of 3%. The project also provides an option to secure an

additional 2.47 acres from the fifth year following the Commercial Operations

Date, allowing potential scope for future expansion.

Strategically located behind Arail Ghat, approximately three

kilometres by road from Sangam Ghat, the proposed hospital is expected to cater

to the healthcare needs of the local population and visitors to the region. The

facility will contribute to expanding healthcare infrastructure in Prayagraj, a

major administrative, educational and cultural centre in Uttar Pradesh.

Commenting on the development, Dr. Ankit Gupta, Managing

Director, Park Medi World Limited, said, “Being selected by the Government of

Uttar Pradesh to develop this 550-bed hospital in Prayagraj under the PPP

framework is both a privilege and a responsibility. Uttar Pradesh is India's

largest and among its most under-served healthcare markets, and this

partnership allows us to bring high-quality, affordable tertiary care to a

region that needs it. With the State's support towards construction and a

long-term concession, this project reflects our commitment to disciplined,

capital-efficient growth and to partnering with the government in strengthening

the healthcare ecosystem across North India. We are proud to contribute to

Uttar Pradesh's healthcare infrastructure and look forward to serving the

people of Prayagraj and the wider region.”

The Prayagraj project is an important part of Park Group’s

expansion strategy in Uttar Pradesh. Alongside its existing 360-bed hospital in

Agra and upcoming 400-bed facility in Gorakhpur, the proposed hospital will

expand the Group’s planned healthcare capacity in the state to 1,310 beds upon

completion. The expansion reflects the Group’s focus on strengthening its

presence in North India and improving access to specialised healthcare

services.

Park Medi World Limited operates under the Park Group brand,

which operated 17 hospitals with a combined capacity of approximately 4,300

beds as of August 2026. The Group continues to expand its network through

hospital integrations and capacity additions, with clinical services spanning

cardiology, neurology, oncology, orthopaedics, gastroenterology, critical care,

nephrology, organ transplants, and women and child health.

Hindusthan Samachar / Abhishek Awasthi