The agreement follows a Letter of Award dated August 14, 2026, issued by the Department of Health & Family Welfare, Government of Punjab, acting through PHSC. Krsnaa said all requisite formalities under the tender requirements leading to the execution of the concession agreement have been completed.
The project will be implemented under the Public Private Partnership (PPP) model in the Design, Build, Finance, Operate, Maintain and Transfer (DBFOT) format. The concession period for the project is 15 years.
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The company said the consideration or size of the contract cannot be determined upfront as the project is structured on a cash-based model, with revenues dependent on the actual number of PET-CT scans undertaken and the applicable user charges. Krsnaa said the project will provide it with a new revenue stream and long-term revenue visibility over the 15-year concession period.
Entry into PET-CT segment
Krsnaa said it has historically taken a measured approach towards the PET-CT segment and had not pursued opportunities in this area earlier.
The company said it has now decided to enter the segment through the Punjab government PPP opportunity, considering the growing demand for PET-CT diagnostic services and the opportunity to leverage its established capabilities in government healthcare partnerships.
The project represents an expansion of Krsnaa’s diagnostic services portfolio into a specialised area of healthcare delivery, while building on its experience of partnering with state governments.
Under the concession agreement, Krsnaa will be responsible for the development, operation and maintenance of PET-CT diagnostic facilities at four selected government hospitals in Punjab.
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The company said the long-term concession framework, cash-based revenue model and access to established government hospital locations provide the basis for its entry into the PET-CT segment. Krsnaa also said the project further diversifies its revenue opportunities and strengthens its growing portfolio of government PPP partnerships across India.
Project terms
The concession agreement has been awarded by the Department of Health & Family Welfare, Government of Punjab, through PHSC, which is a domestic entity.
The contract covers the development, operation and maintenance of PET-CT diagnostic facilities at selected locations in Punjab under the PPP model and DBFOT format. The concession period is fixed at 15 years, with the company having executed the agreement through its concessionaire in compliance with the tender terms.
The project is based on a cash revenue model, with the actual revenue to depend on the number of PET-CT scans conducted and applicable user charges. Therefore, the company has not provided an upfront contract value.
Krsnaa said the project supports its focus on expanding access to advanced diagnostic infrastructure and quality healthcare services. The company also said the new project will add to its government PPP partnerships and expand its diagnostic services portfolio into PET-CT services.
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Shares of Krsnaa Diagnostics Ltd ended at ₹537.10, down by ₹4.25, or 0.79%, on the BSE.
