August 26, 2026: Park Medi World Limited has secured a mandate under the Public-Private Partnership (PPP) model from Prayagraj Municipal Corporation, Uttar Pradesh, to develop and operate a 550-bed multi-super-speciality hospital in Prayagraj.
Author: Aadarsh Patel | EQMint
Under the concession, Park Group will construct the hospital over a period of 2 years from the appointed date and operate the facility under a 45-year long-term lease. The project involves an investment of approximately ₹200 crore.
550-Bed Hospital to Come Up in Prayagraj
The proposed hospital will be developed on a 3.22-acre site allotted by the Prayagraj Municipal Corporation.
The company also has an option to secure an additional 2.47 acres from the fifth year after the Commercial Operations Date (COD), providing scope for future expansion.
Located directly behind Arail Ghat, the project will be around 3 km by road from Sangam Ghat, according to the company’s announcement. Park Medi World said the facility is expected to become the largest private healthcare facility in Prayagraj once completed.
₹200 Crore Investment, ₹76.52 Crore Government Support
One of the key financial aspects of the project is the contribution from the Uttar Pradesh government.
Park Group will invest approximately ₹200 crore toward construction, while ₹76.52 crore will be reimbursed by the Prayagraj Municipal Corporation toward hospital construction.
According to the company, this concession reduces the effective capital burden by around 38% of the planned construction investment.
Park Group will pay an annual concession fee of ₹18.10 crore, with the fee subject to a 3% annual escalation.
Key Project Details
| Particular | Details |
|---|---|
| Company | Park Medi World Limited |
| Project | 550-bed multi-super-speciality hospital |
| Location | Prayagraj, Uttar Pradesh |
| Model | Public-Private Partnership |
| Investment | Approx. ₹200 crore |
| Government concession | ₹76.52 crore |
| Construction period | 2 years |
| Lease period | 45 years |
| Annual concession fee | ₹18.10 crore |
| Annual escalation | 3% |
| Initial land | 3.22 acres |
| Additional land option | 2.47 acres |
| NSE Symbol | PARKHOSPS |
| BSE Scrip Code | 544645 |
Park Medi World to Expand Its Uttar Pradesh Footprint
The Prayagraj project is the third major pillar of Park Group’s Uttar Pradesh strategy.
The company already has a 360-bed hospital in Agra and an upcoming 400-bed facility in Gorakhpur. Once these projects are completed along with the Prayagraj hospital, Park Group’s total capacity in Uttar Pradesh is expected to reach 1,260 beds.
The expansion gives Park Medi World a larger presence in one of India’s most populous states, where the company points to a significant gap in healthcare infrastructure.
Park Group Currently Operates Around 4,300 Beds
According to the company’s press release, Park Group is currently operating 17 hospitals with a combined capacity of around 4,300 beds.
The group is also integrating 5 additional hospitals and expanding capacity at 3 existing units. These projects are expected to add around 2,000 beds, taking the group’s total capacity to approximately 6,300 beds once completed.
Park Group currently has a presence across 15 cities, including Delhi, Gurugram, Faridabad, Panipat, Karnal, Sonipat, Ambala, Mohali, Patiala, Jaipur, Agra and Panchkula.
Focus on Tertiary and Super-Speciality Healthcare
The proposed Prayagraj hospital is expected to provide multi-super-speciality healthcare services.
Park Group’s existing clinical portfolio includes cardiology, neurology, oncology, orthopaedics, gastroenterology, critical care, nephrology, organ transplants, and women’s and children’s healthcare.
The company says its hospitals are equipped with advanced diagnostics, modern medical infrastructure, 24×7 emergency services and multi-disciplinary medical teams.
Management’s View on the Prayagraj Project
Dr. Ankit Gupta, Managing Director of Park Medi World, said the company sees the PPP project as an opportunity to expand access to tertiary healthcare in an under-served market.
He described the project as a partnership with the government to strengthen healthcare infrastructure across North India, while pointing to the government support and long-term concession as factors supporting the company’s capital deployment strategy.
What the Project Means for Park Medi World
The Prayagraj mandate adds 550 beds to Park Group’s development pipeline and strengthens its presence in Uttar Pradesh.
The combination of a ₹200 crore construction investment, ₹76.52 crore government reimbursement and a 45-year concession gives the project a long operating horizon.
For investors tracking Park Medi World shares, the key factors to watch will be the construction timeline, project commissioning, operating performance, utilisation and the company’s broader hospital expansion programme.
Key Highlights
- Park Medi World wins a PPP mandate from Prayagraj Municipal Corporation.
- New hospital will have 550 beds.
- Project investment is approximately ₹200 crore.
- Uttar Pradesh government support includes ₹76.52 crore construction reimbursement.
- Hospital construction is expected to take 2 years.
- Park Group will operate the facility under a 45-year lease.
- Annual concession fee is ₹18.10 crore, with 3% annual escalation.
- Project is being developed on 3.22 acres, with an option for another 2.47 acres.
- Park Group’s Uttar Pradesh capacity is expected to reach 1,260 beds after the Agra, Gorakhpur and Prayagraj projects are completed.
- Park Group currently operates around 4,300 beds across 17 hospitals.
FAQs
What project has Park Medi World won in Prayagraj?
Park Medi World has received a PPP mandate from Prayagraj Municipal Corporation to develop and operate a 550-bed multi-super-speciality hospital.
How much will Park Medi World invest?
The company plans to invest approximately ₹200 crore toward construction of the hospital.
How much government support will the project receive?
The Prayagraj Municipal Corporation will reimburse approximately ₹76.52 crore toward hospital construction.
How long will Park Medi World operate the hospital?
The concession provides for operation under a 45-year long-term lease.
Where will the hospital be located?
The hospital will be developed on a 3.22-acre site directly behind Arail Ghat in Prayagraj, with an option to secure another 2.47 acres from the fifth year after COD.
What is Park Medi World’s NSE symbol?
Park Medi World trades on the NSE under PARKHOSPS and on the BSE under scrip code 544645.
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Disclaimer: This article is not an investment advice and is for educational purpose only.
