Max Healthcare Institute Limited's Board of Directors, in a meeting held on December 18, 2025, approved the acquisition of a 100% equity stake in Yerawada Properties Private Limited (YPPL), located in Pune, Maharashtra. This acquisition is planned in a step-up manner, concluding upon receipt of the Occupancy Certificate for the hospital to be constructed on the acquired land. Initially, Max Healthcare will acquire 100% of the Class A equity shares, representing 100% voting rights and approximately 50.22% economic interest in YPPL. Furthermore, the Board has approved the establishment of a ~450-bedded super specialty hospital on the land owned by YPPL. The total aggregate spend for this project, including the YPPL shares acquisition, construction, equipment costs, stamp duty, and registration charges, is estimated to be up to ₹1,020 Crore. The acquisition of YPPL, which owns 1.68 acres of freehold land in Yerawada, Pune, is expected to facilitate the expansion of Max Healthcare's footprint in Maharashtra. The transaction is not a related party transaction, and no government or regulatory approvals are required for the share acquisition. The estimated cost of acquisition for the YPPL shares is approximately ₹200 Crore. The full acquisition of YPPL, including 100% Class B Equity Shares, is expected to be completed over a period of approximately 4 years. The new hospital capacity is also projected to be added within the next ~4 years. The project will be financed through a mix of internal accruals and term loans, driven by the growing demand for quality healthcare services in Pune and surrounding regions.