New Delhi [India], August 26: Park Medi World Limited (NSE: PARKHOSPS; BSE: 544645): Park Medi World Limited is pleased to announce that it has been awarded a mandate under the Public–Private Partnership (PPP) model by Prayagraj Municipal Corporation, Uttar Pradesh to develop and operate a 550-bed multi-super speciality hospital in Prayagraj, Uttar Pradesh. Under the concession, Park Group will construct the facility over a two-year period from the appointed date and operate it under a long-term lease of 45 years, marking a significant step in the Group’s expansion across Uttar Pradesh.
The Project
The hospital will be developed on a 3.22-acre site allotted by the Municipal Corporation, with an option to secure an additional 2.47 acres from the fifth year following the Commercial Operations Date (COD) — providing built-in headroom for future expansion. Park Group will invest approximately INR 200 Crore towards construction of the 550-bed facility, which is targeted for completion within two years of the appointed date.
The site is strategically located directly behind Arail Ghat — a section of which is reserved for VIP darshan — in one of the most densely populated parts of Prayagraj. Arail Ghat lies approximately 3 kilometers from the Sangam Ghat by road, or around 0.5 kilometres by boat, placing the facility within close reach of one of the country’s most significant pilgrimage destinations and its substantial resident and visiting population. Upon completion, it will be the largest private healthcare facilities in the city.
A salient feature of the concession is the State Government’s support towards the build: INR 76.52 Crore will be reimbursed by the Municipal Corporation of Prayagraj towards hospital construction — de-risking approximately 38% of the capital outlay and reflecting the State’s commitment to strengthening healthcare infrastructure in the region. In consideration for the concession, Park Group will pay an annual concession fee of INR 18.10 Crore with annual escalation of 3%.
Why Uttar Pradesh
Uttar Pradesh is India’s largest state by population and among its most densely populated, yet it remains one of the most under-served in healthcare infrastructure, with hospital beds per 1,000 population materially below both the national average and the WHO benchmark of 3 beds per 1,000.
This structural deficit, set against rising incomes and deepening insurance penetration, makes the State one of the most attractive long-term healthcare markets in the country. Prayagraj — one of Uttar Pradesh’s largest urban centres and a major administrative, educational and cultural hub serving a vast surrounding catchment — is a natural anchor for the Group’s growing presence in the State.
Building Critical Mass in Uttar Pradesh
The Prayagraj project forms the third pillar of Park Group’s Uttar Pradesh strategy. Together with its 360-bed hospital at Agra and its upcoming 400-bed facility at Gorakhpur, Park Group’s total capacity in Uttar Pradesh will reach a critical mass of 1,260 beds on completion — positioning the Group as one of the leading private healthcare providers in the State and reinforcing its long-term commitment to expanding access to high-quality tertiary care across North India.
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 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.”
About Park Group
Park Group is North India’s 2nd largest hospital chain, currently operating 17 hospitals with a combined capacity of ~4,300 beds as on date. Together with this proposed 550-bed PPP facility at Prayagraj, the Group is in the process of integrating 5 additional hospitals and expanding capacity at 3 existing units. These are in various stages of execution and will add ~2,000 beds to our network. With these, Park Group’s total capacity is expected to reach ~6,300 beds, underscoring its commitment to leadership and growth in healthcare delivery.
The Group has established a strong presence across 15 key cities including Delhi, Gurgaon, Faridabad, Panipat, Karnal, Sonipat, Ambala, Mohali, Patiala, Bathinda, Behror, Jaipur, Agra, Panchkula and Rudrapur, and is expanding into Zirakpur (Punjab), Gorakhpur and Prayagraj (Uttar Pradesh) and Rohtak (Haryana). Built on a commitment to accessible, high-quality healthcare, Park Group offers a comprehensive range of clinical services — spanning super-specialities such as cardiology, neurology, oncology, orthopaedics, gastroenterology, critical care, nephrology, organ transplants, and women & child health. Each facility is equipped with modern medical infrastructure, advanced diagnostics, 24×7 emergency support, and multi-disciplinary teams delivering evidence based care. Through continuous expansion and strategic investments, Park Group is strengthening its mission to build a dependable, technology-enabled healthcare ecosystem that serves both metropolitan and regional communities across North India.