Max Healthcare to build ₹1,400 cr hospital in Lucknow
The board approved a 712-bed super specialty facility alongside strong FY26 numbers: revenue up 19%, profit up 34%.
— 2 earlier stories on Max Healthcare Institute Ltd. →What's new with Max Healthcare Institute Ltd.
- Approved ₹1,400 cr capex for a 712-bed super specialty hospital in Lucknow.
- Consolidated revenue grew 19% YoY to ₹8,373 cr in FY26.
- Net profit rose 34% YoY to ₹1,442 cr; ₹2/share dividend declared.
Why this matters for Max Healthcare Institute Ltd.
At roughly 17% of annual revenue, the Lucknow investment is one of Max Healthcare's largest greenfield bets. It tests the company's ability to replicate its margin performance in a new geography while expanding capacity. The project's execution — timeline and cost control — will shape the earnings trajectory over the next few years.
What we're watching
- Timeline and cost escalation for the 712-bed Lucknow hospital.
- How the capex is funded — internal accruals or debt.
- Impact on bed occupancy and margins at existing facilities.
The full read
Max Healthcare's board has approved a ₹1,400 crore greenfield hospital in Lucknow — its biggest single-site bet in recent years. The 712-bed super specialty facility would add roughly 15% to its current bed capacity if completed on schedule. The decision came alongside a strong set of FY26 numbers: revenue climbed 19% to ₹8,373 crore and net profit jumped 34% to ₹1,442 crore, with a ₹2 per share dividend. Routine items such as auditor re-appointment and office shift were also cleared. The capex overshadows the results, raising the question of whether Max Healthcare can maintain its industry-leading margins while executing a project of this scale in a new city. Execution risk is the key variable now.