Choice Institutional Equities's report onPark Medi World
PARKHOSP continues to expand its footprint across North India while strengthening its existing clusters. With the aim of assessing its growth strategy and operational execution, we visited the company. We met with the management of PARKHOSP, Mr. Sudesh Sharma - Chief Strategy Officer and Mr. Saurabh Pant – Head of Investor Relations. Additionally, we visited the company's Sector 47 and Palam Vihar facilities. The interaction provided valuable insights into the company's expansion strategy across existing and new markets, including the upcoming Park Hospital Platinum facility in Gurugram and the recently-acquired Medicity Hospital in Rudrapur. The management reiterated its focus on scalable cluster-led growth, disciplined capital allocation, operational efficiency and strengthening its presence in underpenetrated healthcare markets, while maintaining its long-term aspiration of reaching 10,000 beds by FY33.
We continue to value the company at 18x EV/EBITDA on FY28E and hence maintain our ‘BUY’ rating with a target price of INR 350.
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