1. Rajasthan PPP ramp-up - Rajasthan crossed from implementation to operations in Q1 FY27, with 31 mother labs, 62 hub labs and 1,228 collection centres live and ₹25.7 crore of revenue booked; management expects ₹100-150 crore for FY27, doubling in coming quarters toward a ₹150-175 crore steady state. That is roughly 12-18% of current group revenue from a single new state, with EBITDA guided to reach consolidated levels by end-FY27.
2. Retail network scale-up - Retail revenue hit ₹19.3 crore in Q1 FY27, up 64% YoY, with 4,250+ touchpoints across five states; management guides retail to 10-15% of group revenue this year and 25-30% over 3-5 years. The asset-light franchise model adds touchpoints with minimal incremental fixed cost, and retail is expected to turn EBITDA positive by Q2.
3. Maharashtra MRI commissioning - 8 of 17 planned MRI centres in Maharashtra were inaugurated and operational in Q1 FY27, with the balance expected live by end-Q3; the \~₹150 crore MRI programme adds high-ticket radiology capacity in India's largest diagnostic market. Existing radiology centres are already growing like-to-like \~12%, so new machines layer incremental revenue on a proven base.
4. Himachal Pradesh CT expansion - Krsnaa signed a PPP agreement to set up CT scan facilities at 34 government health institutions in Himachal Pradesh, up from 12 previously, on a 7-year initial term extendable by 3; the project is predominantly cash-paying with \~₹40 crore already received. This extends a 12-year relationship into a 25-year revenue stream with visibility for the next decade.
5. Apulki oncology partnership - Apulki's flagship 150-bed Pune cancer and cardiac hospital commenced operations in Q1 FY27, with Krsnaa holding exclusive diagnostics rights across all Apulki hospitals for 30+ years; Apulki plans \~10 hospitals with 2,000+ beds and 15+ PET-CT units. Mature revenue of \~₹20 crore per hospital is expected within 2-3 years, and the FY26 fair-value gain on the 23.53% stake was already ₹22.2 crore.
6. Preventive diagnostics + insurance product - Krsnaa is preparing to launch a first-of-its-kind Indian proposition combining preventive diagnostics with financial protection in a single offering, with 100+ subspecialized wellness packages across obesity, cancer and gastro care. This targets higher-priced, higher-value tests to lift revenue per patient, and the financial-protection bundling is a new revenue line no domestic diagnostic peer offers.
7. PPP tender win rate - Krsnaa has a 75% bid-to-win ratio in government diagnostic tenders, winning in 8 of 12 pathology states and 12 of 19 radiology states; FY25 wins across Jharkhand, Assam, Maharashtra, Madhya Pradesh and Odisha commissioned 45 radiology centres, a new pathology lab and 700+ collection centres. With a couple more PPP projects in the pipeline and outcomes expected in coming quarters, each win converts into multi-year contracted revenue with embedded 2-5% rate escalations.
8. Deferred-payment equipment model - Krsnaa is procuring CT and MRI machines on a deferred-payment basis through partnerships with Medikabazaar and United Imaging, with vendor lines of credit covering larger equipment. This shifts the \~₹500 crore FY27 capex programme toward an asset-light model, preserving cash flow while the 200+ CT/MRI centre order book completes.