Max Healthcare Institute Ltd. has announced a robust financial performance for the second quarter of fiscal year 2027, alongside significant expansion plans. The hospital network's gross revenue surged by 20% year-on-year, while profit after tax (PAT) saw a 10% increase.
Strong Financial Performance in Q2 FY27
For the second quarter, Max Healthcare's network gross revenue reached Rs 3,219 crore, a substantial rise from Rs 2,692 crore in the corresponding period last year. Operating EBITDA grew by 18% year-on-year, hitting Rs 820 crore. Network PAT climbed to Rs 448 crore, up from Rs 406 crore in Q2 FY26, after adjusting for a one-time tax gain from the previous year.
This growth was largely driven by increased patient volumes, with occupied bed days rising by 13% year-on-year. The average occupancy rate across the network stood at a healthy 77% during the quarter.
Strategic Expansion and Capital Investment
In a move to further bolster its capacity, Max Healthcare's board has approved a capital expenditure of Rs 415 crore. This investment will fund the addition of 209 new beds across its existing hospitals. Specific allocations include 85 beds at Max Super Speciality Hospital in Noida, 60 beds at Vaishali, and 64 beds at BLK-Max Hospital.
The company also disclosed additional capital outlays: approximately Rs 93 crore for redevelopment and clinical capacity enhancement at its Noida hospital, and around Rs 97 crore for constructing additional floors at the Vaishali facility. Furthermore, the completion timeline for the proposed 525-bed hospital in Sector 56, Gurugram, has been revised to April 2027, with the project cost now estimated at Rs 1,143 crore.
Divisional Growth and Market Response
Operational bed capacity across the network reached 5,518 by the end of September 2026, marking an addition of 758 beds over the past 12 months.
Beyond core hospital services, Max Healthcare's specialized divisions also showed strong growth. International patient revenue increased by 33% year-on-year, reaching Rs 307 crore and accounting for roughly 10% of total hospital revenue. Max Lab, the company's pathology business, reported a 24% increase in gross revenue to Rs 66 crore, while Max@Home services saw revenue surge by 37% to Rs 86 crore.
Following the announcement, shares of Max Healthcare Institute Ltd. closed higher on Friday, gaining approximately 1% from its previous close to settle at Rs 860.