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Ventura lifts Park Medi World target to ₹406 after growth outlook
The brokerage raised its target from ₹284 and projects FY29 revenue of ₹3,420 crore, with PAT reaching ₹631 crore by FY29E.
Ventura Securities reiterated a Buy rating on Park Medi World and sharply increased its target price to ₹406, up from an earlier ₹284. With the stock trading around ₹286, the revised target implies upside of 41.9% over a 24-month horizon, according to LiveMint Markets.
The brokerage said Park Medi World’s execution has remained strong since coverage began, pointing to faster-than-expected bed additions that could help the company reach its FY28 capacity target ahead of schedule. Ventura also cited healthy occupancy as support for both capacity expansion and margin improvement.
Ventura expects improving profitability driven by better margins, rising average revenue per occupied bed, a growing speciality mix, and lower finance costs. It projects compound annual growth rates from FY26 to FY29E of 26.8% for revenue, 28.8% for EBITDA, and 33.4% for profit after tax, with FY29E revenue at ₹3,420 crore, EBITDA at ₹949 crore, and PAT at ₹631 crore.
The note also highlighted Park Medi World’s relatively low capital intensity, with capex per bed at ₹37 lakh and a budgeted blended ₹36 lakh per bed for its FY27 to FY28 expansion program. Ventura added that the company commissioned its 360-bed Agra facility within two months of acquisition, and described its positioning as affordable and volume-led.