Max Healthcare on Monday said that it is expanding its bed capacity in National Capital Region (NCR) region by addition of two hospitals of 500 beds each in Gurugram.

The land parcels measuring 6.11 acres and 5.26 acres, respectively, are being allotted by HSVP (Haryana Shahri Vikas Pradhikaran) post successful bid by the company in a recent HUDA auction. The land parcels are located in the heart of Gurugram. A letter of intent was issued to this effect by HSVP on 1 October 2021.

At present, Max Healthcare runs a multi-specialty hospital in Sector 43, Gurugram. The hospitals, once operational, will also cater to economically weaker section of the society at concessional rates.

Speaking about the expansion, Dr Abhay Soi, chairman of Max Healthcare said, "Gurugram has emerged as one of the largest medical hubs for high-end care in North India. We see a huge potential both in terms of domestic as well as international patients traveling to Gurugram for treatment of complex diseases.

The two newly acquired land parcels will be constructed in a phased manner, adding 1,000 beds over the next 4-6 years and will further strengthen our presence in NCR."

The announcement comes shortly after the company's recent expansion plan at its Saket Complex in New Delhi.

Max Healthcare Institute is one of India's largest hospital chain operator (considering only income from healthcare services in fiscal 2021.

On a consolidated basis, the company reported a net profit of Rs 146.92 crore in Q1 FY22 as against a net loss of Rs 291.20 crore in Q1 FY21. Net sales during the quarter increased 290.30% to Rs 1,000.17 crore recorded in the same period last year.

Shares of Max Healthcare were down 1.55% at Rs 353.25.