New Delhi: Stepping up its expansion focus, corporate hospital chain, Max Healthcare announced plans to set up a 712-bed greenfield facility in Lucknow.
While announcing its fourth-quarter FY26 results, the company said, “the board approved an investment of Rs 1,400 crore for the construction of a 712-bed greenfield hospital at Shaheed Path, Lucknow.”
The proposed facility will be built on a 5 acre land parcel and will be the company’s second hospital in the city, it added.
Max expects the facility to be commissioned in FY30 and aims to cater to the growing demand for healthcare services in Uttar Pradesh.
Notably, Max Healthcare, which surpassed the Rs 1 lakh crore market capitalisation mark last year, has been making a strong expansion push into non-metro markets to scale its operations.
The company is tapping into both greenfield and brownfield opportunities as part of this growth strategy and target of operating 10,000 beds by FY2030.
Recent moves include plans to acquire a 58.4 per cent stake in Odisha-based Kalinga Hospital at an equity value of Rs 300 crore. Earlier, the company executed a Share Purchase Agreement to acquire Yerawada Properties Pvt. Ltd. (YPPL) for the development of a 450-bed hospital in Pune.
“We have completed the acquisition of a controlling stake in Kalinga Hospital and the team has already begun integration. In parallel, work has commenced on the upgradation and expansion of the hospital, enabling us to extend high-quality healthcare services in a fast-growing region.” said Abhay Soi, Chairman and MD, Max Healthcare.
Meanwhile, the greenfield expansion push includes a 400-bed brownfield tower at Max’s Saket facility, which was commissioned in April 2026. Additionally, 160 beds were added at its Mohali facility and 118 beds at Nanavati Max during the period.
In the quarter ended March this year, Max gross revenue increased 10 per cent year-on-year to Rs 2,664 crore, mainly driven by increase in out patient volumes.
Ebitda expanded 8 per cent YoY to Rs 682 crore, while net profit grew 3 per cent to Rs 387 crore, compared to Rs 376 crore in Q4 FY25.
Bed occupancy for the quarter stood at 75 per cent, while average revenue per occupied bed (ARPOB) was Rs 77.9 thousand, compared with Rs 77.1 thousand in the year-ago quarter.
For the full financial year FY26, Max’s gross revenue increased 10 per cent YoY to Rs 10,538 crore, while ebitda stood at Rs 2,368 crore, up 14 per cent from the previous fiscal.
The hospital chain closed FY26 with a total bed capacity of 4,966 beds, up from 4,654 beds in FY25.
In FY26, Max generated Rs 1,541 crore in net cash and has net debt of Rs 1,908 crore on its balance sheet.
