Park Medi World Ltd Gets Buy Rating With INR 284 Target From Ventura Securities

Park Medi World Ltd (PARKHOSPS) traded at Rs 202.08 on NSE on March 25, 2026. Ventura Securities started coverage with a 24-month target of Rs 284. That target implies about 40.6% upside from around Rs 202. The stock was down 1.60% versus the previous close of Rs 205.36.

The share price rose over 38.80% in the past year and 36.59% in six months. For 2026 year-to-date, the stock gained 34.81%. Ventura Securities used a DCF-led approach and also cited valuation multiples. The report was dated 24th March and highlighted risks around new hospital utilisation.

"We initiate coverage with a BUY for a DCF-based price target of INR 284 (28.2x FY28 P/E), representing an upside of 38.4% from the current CMP of INR 205 over the next 24 months. Risks: Slower than expected occupancy ramp-up in newly commissioned hospitals Pecking Order: PMWL, Narayan Hrudalaya, Fortis Healthcare," said Ventura Securities in a report dated 24th March.

Park Medi World Ltd’s recent stock moves and the brokerage target are outlined below.

Metric	Figure
NSE price (March 25, 2026)	Rs 202.08
Previous close	Rs 205.36
Change vs last close	-1.60%
1-year return	Over 38.80%
6-month return	36.59%
2026 YTD return	34.81%
Ventura Securities target (24 months)	Rs 284

Park Medi World Ltd runs an asset-owned hospital network with a capital-efficient approach. The model uses streamlined infrastructure and full-time physicians. Dr. Ajit Gupta launched the multispecialty chain with a North India focus. The group targets affordable care, mainly for middle-class and lower-class patients.

As of December 31st, the company operated 14 NABH-accredited hospitals across Haryana, Delhi, Punjab, and Rajasthan. Total capacity stood at 3,250 beds, including 870 ICU beds. The network also had 67 operating rooms. In February, PMWL commissioned a 360-bed hospital in Agra.

Park Medi World Ltd financials: FY25 results and 9MFY26 trend

PMWL reported FY25 revenue of Rs 1,394 Cr with EBITDA of Rs 373 Cr. The EBITDA margin was 26.8% in that year. PAT stood at Rs 205 Cr, implying a 14.7% margin. For 9MFY26, sales rose 17% year-on-year to Rs 1,219 Cr.

Period	Revenue	EBITDA	Margin	PAT	Margin
FY25	Rs 1,394 Cr	Rs 373 Cr	26.8%	Rs 205 Cr	14.7%
9MFY26	Rs 1,219 Cr	Not stated	Not stated	Not stated	Not stated

Park Medi World Ltd outlook: capex, beds, and healthcare sector growth

Ventura Securities expects revenue to reach Rs 2,550 Cr, implying a 22.3% CAGR for FY25-28E. Bed capacity is projected at 5,460 beds by FY28E, after adding 1,850 beds. The projected capex is Rs 383 Cr, with average capex per bed of Rs 20.7 lakhs.

The planned expansion is aimed at underserved Uttar Pradesh. Management also set a longer plan of about 10,000 beds in seven years. PMWL reported FY25 ROE of 19.2% and ROIC of 23.7%. EBITDA margins stayed near 25-27%, while PAT margins stayed around 15-17%.

Ventura Securities estimated India’s healthcare delivery market at about Rs 6.9-7.0 Tn in FY25. The market is projected at Rs 10.2-10.8 Tn by FY29, a 10-12% CAGR. The report linked demand to insurance growth and lifestyle disorders. Private providers’ share is forecast to reach 69% by FY29.

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