Healthcare major Max Healthcare has announced plans to build a new 712-bed greenfield hospital in Lucknow as part of its aggressive expansion strategy.
The company’s board has cleared an investment of ₹1,400 crore for the upcoming facility at Shaheed Path in Lucknow. Spread across a five-acre land parcel, the project will become Max Healthcare’s second hospital in the city and is expected to start operations by FY30.
The expansion is aimed at meeting the rising demand for quality healthcare services in Uttar Pradesh. Max Healthcare has been steadily increasing its presence beyond metro cities through both greenfield and brownfield projects, with a long-term goal of reaching 10,000 operational beds by FY2030.
As part of this strategy, the company recently acquired a 58.4% stake in Odisha-based Kalinga Hospital for nearly ₹300 crore. It has also signed an agreement to acquire Yerawada Properties Pvt. Ltd. to develop a 450-bed hospital in Pune.
Commenting on the Odisha acquisition, Chairman and Managing Director Abhay Soi said the integration process at Kalinga Hospital has already started, alongside expansion and upgrade work to strengthen healthcare delivery in the region.
Max Healthcare has also expanded capacity across existing facilities. A 400-bed brownfield tower at its Saket hospital became operational in April 2026, while additional beds were added at its Mohali and Nanavati Max hospitals.
Financially, the hospital chain reported a 10% year-on-year rise in gross revenue to ₹2,664 crore during the March quarter, driven mainly by higher outpatient volumes. EBITDA increased 8% to ₹682 crore, while net profit rose to ₹387 crore from ₹376 crore a year earlier.
For the full FY26, Max Healthcare posted gross revenue of ₹10,538 crore, up 10% from the previous year, while EBITDA grew 14% to ₹2,368 crore. The company ended the fiscal with a total capacity of 4,966 beds, compared to 4,654 beds in FY25.
The company also generated net cash of ₹1,541 crore during FY26 and reported net debt of ₹1,908 crore on its balance sheet.