Krsnaa Diagnostics shares jumped 11.4% on September 17 after the company announced its entry into the specialised PET-CT diagnostic services segment. 

The development follows the execution of a 15-year concession agreement with Punjab Health Systems Corporation (PHSC). The project was awarded by the Department of Health & Family Welfare, Government of Punjab, following a Letter of Award issued on August 14, 2026. Krsnaa Diagnostics said all required formalities under the tender have now been completed.

Under the agreement, Krsnaa Diagnostics will develop, operate and maintain PET-CT diagnostic facilities at four selected government hospitals in Punjab. The project will be implemented through a Public-Private Partnership (PPP) under the Design, Build, Finance, Operate, Maintain and Transfer (DBFOT) model.

The company said the project marks its first entry into the PET-CT segment. Krsnaa Diagnostics had earlier taken a measured approach towards this specialised area but decided to enter it due to increasing demand for advanced cancer diagnostics and its existing experience in working with state governments.

The agreement is expected to provide the company with a new revenue stream and long-term cash revenue visibility. However, the total financial value of the project cannot be fixed upfront because revenue will depend on the number of PET-CT scans performed and the applicable user charges.

The move also expands Krsnaa Diagnostics’ portfolio of government healthcare partnerships. PET-CT scans are widely used in oncology to detect, stage and monitor cancer, making the segment an important part of advanced diagnostic services.

At 2:10 pm, the shares of Krsnaa Diagnostics were trading 2.19% higher at Rs 548.15 on NSE. 

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