Agreement Details

Aggarwal Hospital and Research Services Private Limited (AHRSPL), a wholly-owned subsidiary of Park Medi World Limited, entered into an Operations and Management Agreement with Axis Educational Society (AES) on September 16, 2026. The agreement pertains to operating and managing a 300-bed multi-super speciality hospital named "Axis Hospital and Research Centre" located at Milestone – 478, Chakeri Ward, Hathipur, Rooma, NH – 2, Kanpur, Uttar Pradesh – 209402.

Term and Effective Date

The agreement has a term of 28 years. The effective date shall be no later than April 1, 2027.

Facility Specifications

The hospital facility has:

  • Capacity: 300 beds
  • Covered area: Approximately 1.2 lakh square feet
  • Current status: To be renovated and re-equipped prior to commissioning
  • Commissioning timeline: By the end of the current financial year
  • Services: Comprehensive range of multi-super speciality services

Financial Considerations

AHRSPL shall pay to AES a revenue share equivalent to 6% of collections subject to applicable taxes, with a minimum guaranteed amount of:

  • ₹20,00,000 (Rupees Twenty Lac) per month inclusive of GST during the First Year from the Effective Date
  • ₹20,00,000 (Rupees Twenty Lac) per month plus GST thereafter

Transaction Type and Structure

  • Domestic agreement
  • Not a related party transaction (confirmed as No in disclosure)
  • No promoter/promoter group/group companies have any interest in the entity
  • Arm's length transaction confirmed
  • Asset-light operating model without upfront acquisition of land or building

Strategic Rationale

The arrangement extends Park Group's growing footprint in Uttar Pradesh and reinforces the Group's strategy of building density in the State through a deliberate mix of owned, PPP and asset-light operating models. Uttar Pradesh represents India's largest state by population and remains under-served in healthcare infrastructure.

Company Context

Park Group is North India's 2nd largest hospital chain currently operating:

  • 17 hospitals with combined capacity of ~4,300 beds
  • 6 additional hospitals in process of integration
  • 3 existing units undergoing capacity expansion
  • Total expected capacity: ~6,600 beds after expansions

Geographic Presence

The Group has established presence across 15 key cities including Delhi, Gurgaon, Faridabad, Panipat, Karnal, Sonipat, Ambala, Mohali, Patiala, Bathinda, Behror, Jaipur, Agra, Panchkula and Rudrapur, with expansion into Zirakpur (Punjab), Gorakhpur, Prayagraj, Kanpur (Uttar Pradesh) and Rohtak (Haryana).