Park Medi World Secures PPP Mandate for 550-Bed Hospital in Prayagraj, Plans INR 200 Cr Investment

With its ongoing expansion pipeline, including the Prayagraj project, the group's total capacity is expected to grow to approximately 6,300 beds.

Park Medi World has secured a PPP mandate from the Prayagraj Municipal Corporation to build and operate a 550-bed multi-super-speciality hospital in Uttar Pradesh, marking a significant expansion of its healthcare infrastructure footprint.

The hospital chain has planned an investment of approximately INR 200 Cr for the project.

Park Medi World will construct the new hospital over a period of two years from the appointed date and operate it under a 45-year lease.

The facility will be developed on a 3.22-acre site allotted by the Municipal Corporation behind Arail Ghat in Prayagraj.

“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.” - Dr. Ankit Gupta, Managing Director, Park Medi World

He added that the partnership will allow the company to provide high-quality and affordable tertiary care to the region, while the State's construction support and long-term concession reflect the company's focus on disciplined, capital-efficient growth and partnerships with the government to strengthen healthcare infrastructure across North India.

Park Medi World also has the option to acquire an additional 2.47 acres from the fifth year after commercial operations begin, providing room for future expansion.

Moreover, the Municipal Corporation of Prayagraj will reimburse INR 76.52 Cr towards construction, covering approximately 38% of the planned capital outlay.

The project is expected to be financed through the company's internal accruals.

Alongside its existing 360-bed hospital in Agra and an upcoming 400-bed facility in Gorakhpur, Park Medi World expects its capacity in the state to reach 1,260 beds once these projects are completed.

Park Group currently operates 17 hospitals with a combined capacity of around 4,300 beds across 15 cities.

With its ongoing expansion pipeline, including the Prayagraj project, the group's total capacity is expected to grow to approximately 6,300 beds.

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