Gurugram-based multi-specialty hospital operator Paras Healthcare plans to increase its bed capacity to 3,000 over the next 18 months by adding two hospitals in Gurugram and Ludhiana.
Speaking about the company’s growth plans, Dharminder Kumar Nagar, Managing Director at Paras Healthcare said, “We are very excited that not only have we built largest footprint in North India and East of India with 2,200 beds already operational amongst these facilities, we are excited to announce two more hospitals, which are quickly in the next 18 to 24 months becoming operational.”
It plans to add 300 beds at a new facility in Gurugram’s New Gurgaon extension and another 500 beds in Ludhiana, Punjab, over the next 18 to 24 months.
The additional capacity will help Paras Healthcare cater to rising patient demand, particularly in Gurugram, where occupancy has crossed 80%. The expansion will increase its operational bed capacity by around 36% from current levels.
The improving trend points to better utilisation of its hospital infrastructure and could support revenue growth as the company expands its capacity. The occupancy level at its Gurugram facility, which has crossed 80%, also highlights the demand for additional beds in the region.
Nagar said the investments made over the past few years were beginning to deliver results, putting the company at an important stage in its growth journey.
Paras Healthcare plans to use the proceeds from its ₹1,450 crore initial public offering (IPO) to reduce debt and strengthen its financial position. The IPO comprises a fresh issue of ₹500 crore and an offer for sale (OFS) of ₹950 crore.
The issue opened for subscription on October 21 and will close on October 23.
During the discussion, Nagar said the company had net bank debt of ₹550 crore. Of the fresh issue proceeds, ₹375 crore is earmarked for debt repayment, while ₹125 crore will be used for general corporate purposes.
The proposed repayment is expected to bring down the company’s debt substantially. The management also agreed that the lower debt burden could translate into interest savings of around ₹30-35 crore in FY28.
Lower finance costs could support profitability and provide greater financial flexibility as Paras Healthcare invests in its expansion plans.
The hospital operator has also reported a turnaround in its earnings. The company recorded a profit after tax (PAT) of ₹44 crore in the previous financial year, while its PAT stood at ₹50 crore in the first quarter of FY27, according to Nagar.
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Paras Healthcare plans 800 new beds, targets capacity expansion to 3,000