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What is the story about?
Shares of Max Healthcare Institute Ltdgained nearly 3% on Thursday, December 18, after its board approved the acquisition of Yerawada Properties Private Limited (YPPL) for around ₹200 crore, along with a plan to invest up to ₹1,020 crore to set up a 450-bed super speciality hospital in Pune, marking a major expansion in Maharashtra.
Max Healthcare, in an exchange filing, said it will acquire a 100% equity stake in YPPL via a phased transaction. In the first tranche, the company will purchase all Class A equity shares, giving it 100% voting rights and around 50.22% economic interest in the entity.
The rest of the economic interest, 100% Class B equity shares, will be acquired over the next four years, subject to milestones including receipt of the occupancy certificate for the hospital building.
YPPL owns a 1.68 acre freehold land parcel in Yerawada, a central and prime locality in Pune, with the capacity to develop a large hospital facility. The investment of ₹1,020 crore includes land acquisition, construction, medical equipment, stamp duty, and other associated costs.
The proposed hospital will be developed over the next four years and financed through a mix of internal accruals and term loans. Max Healthcare said that no regulatory approvals are required for the share acquisition.
The move comes as Max Healthcare operates at high capacity utilisation, with network hospitals running at over 76% utilisation in the first half of FY26. As of September 30, 2025, the company had an operational capacity of about 5,200 beds.
The acquisition is not a related-party transaction, and neither the promoter nor promoter group has any interest in YPPL, the filing added.
Max Healthcare said Pune’s growing population, rising incomes and increasing demand for quality healthcare services make it a strategic location for expansion.
The company reported a net profit of ₹491 crore for the September quarter, up 74.3% from ₹282 crore in the same period last year. Revenue for the quarter increased 25% year-on-year to ₹2,135 crore from ₹1,707 crore in Q2 FY25.
EBITDA rose 17.5% to ₹575 crore, compared with ₹451 crore a year earlier. EBITDA margin improved slightly to 26.9% from 26.4% in the corresponding quarter. International patient revenue stood at ₹231 crore, up 25% YoY and 11% QoQ, accounting for approximately 9% of total hospital revenue.
Following the announcement, shares of Max Healthcare were trading 2.2% up at ₹1,053.5 around 12.30 pm on Thursday. The stock has dropped 5.7% in the past month.
Also Read: Vedanta share price target raised by Investec; Citi highlights key reasons to buy
Max Healthcare, in an exchange filing, said it will acquire a 100% equity stake in YPPL via a phased transaction. In the first tranche, the company will purchase all Class A equity shares, giving it 100% voting rights and around 50.22% economic interest in the entity.
The rest of the economic interest, 100% Class B equity shares, will be acquired over the next four years, subject to milestones including receipt of the occupancy certificate for the hospital building.
YPPL owns a 1.68 acre freehold land parcel in Yerawada, a central and prime locality in Pune, with the capacity to develop a large hospital facility. The investment of ₹1,020 crore includes land acquisition, construction, medical equipment, stamp duty, and other associated costs.
The proposed hospital will be developed over the next four years and financed through a mix of internal accruals and term loans. Max Healthcare said that no regulatory approvals are required for the share acquisition.
The move comes as Max Healthcare operates at high capacity utilisation, with network hospitals running at over 76% utilisation in the first half of FY26. As of September 30, 2025, the company had an operational capacity of about 5,200 beds.
The acquisition is not a related-party transaction, and neither the promoter nor promoter group has any interest in YPPL, the filing added.
Max Healthcare said Pune’s growing population, rising incomes and increasing demand for quality healthcare services make it a strategic location for expansion.
The company reported a net profit of ₹491 crore for the September quarter, up 74.3% from ₹282 crore in the same period last year. Revenue for the quarter increased 25% year-on-year to ₹2,135 crore from ₹1,707 crore in Q2 FY25.
EBITDA rose 17.5% to ₹575 crore, compared with ₹451 crore a year earlier. EBITDA margin improved slightly to 26.9% from 26.4% in the corresponding quarter. International patient revenue stood at ₹231 crore, up 25% YoY and 11% QoQ, accounting for approximately 9% of total hospital revenue.
Following the announcement, shares of Max Healthcare were trading 2.2% up at ₹1,053.5 around 12.30 pm on Thursday. The stock has dropped 5.7% in the past month.
Also Read: Vedanta share price target raised by Investec; Citi highlights key reasons to buy
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