1 week ago
Park Medi World Rises Fifth Session on Prayagraj Hospital Mandate
Park Medi World’s shares rose for the fifth day in a row.
The shares reached ₹291.40 on 26 August.
The company received permission to build and run a large hospital in Prayagraj, Uttar Pradesh.
The hospital will have 550 beds.
Park Group plans to build it in two years.
It will then operate the hospital for 45 years.
The group will invest about ₹200 crore, with a ₹76.52 crore concession from the State Government.
Together with hospitals in Agra and Gorakhpur, Park Group expects to have 1,260 beds in Uttar Pradesh.
Park Medi World shares rose 2.7% to an intraday high of ₹291.40 on the BSE on 26 August.
The stock was set to gain for a fifth consecutive session, rising almost 8% over that period.
Park Medi World received a PPP mandate to develop and operate a 550-bed multi-super-speciality hospital in Prayagraj, Uttar Pradesh.
Park Group will build the hospital in two years, operate it under a 45-year lease, and invest approximately ₹200 crore.
The project is expected to take Park Group’s Uttar Pradesh capacity to 1,260 beds alongside facilities in Agra and Gorakhpur.
- Who
- Park Medi World and Park Group, under a mandate from the Prayagraj Municipal Corporation.
- What
- Development and operation of a 550-bed multi-super-speciality hospital under the public–private partnership model.
- Where
- Prayagraj, Uttar Pradesh, on a 3.22-acre site allotted by the Prayagraj Municipal Corporation.
- When
- The mandate and stock movement were announced or recorded on Wednesday, 26 August; construction is planned over two years from the appointed date.
- Why
- To expand Park Group’s Uttar Pradesh hospital network and increase access to tertiary healthcare, according to the company.
Key facts
- Share price
- ₹291.40 intraday high on the BSE on 26 August
- Recent performance
- Almost 8% gain over five consecutive sessions
- Hospital size
- 550 beds
- Construction period
- Two years from the appointed date
- Operating lease
- 45 years
- Park Group investment
- Approximately ₹200 crore
- Government concession
- ₹76.52 crore from the State Government
- Planned Uttar Pradesh capacity
- 1,260 beds after the Prayagraj, Agra, and Gorakhpur projects are completed
Quotes
Park Medi World
Healthcare company describing its planned Uttar Pradesh hospital capacity and expansion 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,”
livemint.com
Sources
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