Total Beds
3,610
+610 beds YoY
Largest single-year capacity addition; includes new units in Bathinda (250 beds) and Agra (350 beds).
PARKMEDIWORLD
Other
2026-04-??
Park Medi World Ltd — Q4 FY26
Park Medi World delivered its strongest year ever in FY26, with revenue of ₹1,679 Cr (+21% YoY), EBITDA of ₹444 Cr (+20% YoY), and PAT of ₹274 Cr (+27% YoY).
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Park Medi World delivered its strongest year ever in FY26, with revenue of ₹1,679 Cr (+21% YoY), EBITDA of ₹444 Cr (+20% YoY), and PAT of ₹274 Cr (+27% YoY). Q4 revenue grew 30% YoY to ₹460 Cr, with EBITDA margin expanding 268 bps to 28%. The stellar performance was driven by record patient volumes (IPD +18% YoY to 95,525, OPD +22% YoY to 7.78 lakh), occupancy improvement to 64.1% (+244 bps), and a deliberate shift toward high-end specialties (56.9% of revenue, +316 bps). The company added 610 beds during the year, taking total capacity to 3,610 beds, and plans to reach 5,460 beds by March 2028 with a capex of ~₹500 Cr over two years. Management guided for a CGHS rate hike benefit of 5-6% to revenue in FY27 and expects margins to remain range-bound. Key risk: receivable days at 129 remain elevated due to government payment cycles, though improving.
Key Numbers
Occupancy Rate
64.1%
+244 bps YoY
Full-year occupancy improved driven by higher patient volumes and ramp-up of new units.
IPD Volume
95,525
+18% YoY
Record inpatient volume reflecting deepening trust and network expansion.
High-End Specialty Revenue Share
56.9%
+316 bps YoY
Shift towards cardiology, oncology, neurology, orthopedics, etc., driving ARPU and margins.
Management Guidance
Bed capacity target of 5,460 by March 2028
Company plans to add ~1,500 beds over next two years with a total capex of ~₹500 Cr, funded through internal accruals and existing cash.
Management guidance expansionCGHS rate hike to add 5-6% to revenue in FY27
The recent CGHS rate revision of 12-15% is expected to benefit Park Medi World as the largest beneficiary, contributing 5-6% to total revenue on a conservative basis.
Management guidance revenueFY27 capex of ~₹55 Cr for ongoing projects
Capex for FY27 includes ~₹25 Cr for the Delhi (Narela) unit and ~₹30 Cr for Kanpur, with total FY27-28 capex of ~₹250 Cr.
Management guidance capexAgra hospital to add ~₹90 Cr revenue in FY27, turning EBITDA positive
The Agra unit, commissioned in February 2026, is expected to contribute ~₹90 Cr to top line in FY27 and achieve EBITDA breakeven during the year.
Management guidance growthKey Risks
Elevated receivable days from government payers
92% of debtors are from central government schemes; receivable days improved to 129 but remain high. Further reduction depends on government process changes.
medium · analyst_questionExecution risk in greenfield hospital ramp-up
New greenfield units (e.g., Panchkula, Mohali) may take 12-15 months to breakeven and 3-4 years for full recovery, potentially dragging near-term margins.
medium · management_commentaryCGHS rate hike dependency and timing uncertainty
While the rate revision is positive, full impact may only be visible from Q1 FY27 onwards, and actual flow-through depends on adoption by various central agencies.
low · management_commentaryCompetitive pressure from other affordable healthcare providers
Management noted few competitors have replicated Park's model at scale, but any new entrant with similar low-capex strategy could intensify competition.
low · analyst_questionNotable Quotes
We are not cherry-picking patients. Patient flow continues to be very democratic and organic.
Our capex is the lowest in the industry. We are looking at a capex of about 34 lakhs per bed, while our nearest competitor would be more than double.
We are not curbing our growth at all. The statement we are giving in future projections are largely deals which are more or less cast in stone.
Frequently Asked Questions
What was Park Medi World's revenue in Q4 FY26?
Park Medi World reported revenue of ₹460 Cr in Q4 FY26, representing a +21% change compared to the same quarter last year.
What guidance did Park Medi World management give for FY27?
Bed capacity target of 5,460 by March 2028: Company plans to add ~1,500 beds over next two years with a total capex of ~₹500 Cr, funded through internal accruals and existing cash. CGHS rate hike to add 5-6% to revenue in FY27: The recent CGHS rate revision of 12-15% is expected to benefit Park Medi World as the largest beneficiary, contributing 5-6% to total revenue on a conservative basis. FY27 capex of ~₹55 Cr for ongoing projects: Capex for FY27 includes ~₹25 Cr for the Delhi (Narela) unit and ~₹30 Cr for Kanpur, with total FY27-28 capex of ~₹250 Cr. Agra hospital to add ~₹90 Cr revenue in FY27, turning EBITDA positive: The Agra unit, commissioned in February 2026, is expected to contribute ~₹90 Cr to top line in FY27 and achieve EBITDA breakeven during the year.
What are the key risks for Park Medi World in FY27?
Key risks include Elevated receivable days from government payers — 92% of debtors are from central government schemes; receivable days improved to 129 but remain high. Further reduction depends on government process changes.; Execution risk in greenfield hospital ramp-up — New greenfield units (e.g., Panchkula, Mohali) may take 12-15 months to breakeven and 3-4 years for full recovery, potentially dragging near-term margins.; CGHS rate hike dependency and timing uncertainty — While the rate revision is positive, full impact may only be visible from Q1 FY27 onwards, and actual flow-through depends on adoption by various central agencies.; Competitive pressure from other affordable healthcare providers — Management noted few competitors have replicated Park's model at scale, but any new entrant with similar low-capex strategy could intensify competition..
Did Park Medi World meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Park Medi World Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.