Suraksha Diagnostic Ltd (NSE: SURAKSHA) Q3 2026 Earnings Call dated Feb. 06, 2026
Corporate Participants:
Unidentified Speaker
Dr. Somnath Chatterjee — Chairman and Joint Managing Director
Ms. Ritu Mittal — Joint Managing Director and Chief Executive Officer
Ravindra K S — Chief Financial Officer
NIREN KAUL — CHIEF SALES OFFICER
Analysts:
Unidentified Participant
Dhruv Maheshwari — Analyst
Nancy Yadav — Analyst
Siddhant Mayecha — Analyst
Hitaindra Pradhan — Analyst
Keshav Tikmany — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to Suraksha Diagnostics Limited Q3&9M FY26 earning conference call hosted by MUFG in time India PVT Ltd As a reminder, all participants lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call please signal an operator by pressing Star then zero on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Sudeep Anand. Thank you. And over to you. All right. All right, you can proceed ahead.
Unidentified Speaker
Good afternoon ladies and gentlemen. From the management team we have Dr. Somna Chatterjee, chairman and Joint Managing Director. This is Ritu Mittal, Joint Managing Director and CEO Mr. Ravindra KS Group CFO Mr. Niren Kaul, Chief Sales Officer and Mr. Balgopal Junjunwala, Regional Business Head. Before we proceed with this call I would like to mention that some of the statements made in today’s call may be forward looking in nature and may involve risk and uncertainty. For more details kindly refer to the investor presentation and other filings that can be found on the company’s website and stock exchanges.
Now I would like to invite Dr. Somnath Chatterjee for his opening remarks.
Dr. Somnath Chatterjee — Chairman and Joint Managing Director
Good afternoon to everyone. I welcome you to the Q3 and 9 month FY26 earnings conference call of Suraksha Diagnostics. Suraksha has always been ahead of the curve in the technology area. It has been a pioneer in introducing a number of technologies for the first time in eastern India. Today genomics is the new black in pathology. Keeping in line with its history Shrubsha has been able to deliver the first complete genomic lab to eastern India. This includes the complete setup for cytogenetics, microarray, PCR, next gen sequencing etc. All our molecular lab tests today are care validated and this also remains a first in eastern India.
Reproductive, pediatric, neurology and oncology verticals are being addressed from the lab. Talks are going on with leading infertility chain for carrying out their genomic test. Dr. Gittel Sri, ex director of Tata Cancer Pathology has joined Shuruk Shah as the head of the Department of Histopathology. She is of international renown and under her leadership Shurukha is building one of the very first digital pathology platforms. Dr. Oshima Mukhavadhya, internationally accredited oncologist and a global authority on ovarian cancer has joined Shrukha as an honorary consultant. Under her leadership Shurukha is developing the first HRD assay for Ovarian cancer in radiology.
Shuruka has started application of AI for CT scan and MRI reporting with AI engines from United Group. This will greatly enable much quicker reporting and improved tact with genomics, digital pathology AI application in both radiology and pathology. We expect a brighter future ahead. Now I would invite our CEO Mrs. Ritu Mittal to provide operational updates during Q3. Thank you.
Ms. Ritu Mittal — Joint Managing Director and Chief Executive Officer
Thank you Dr. Kassy. Good afternoon everyone. Thank you for joining us today. Our primary highlight today is our top line momentum for the quarter. We have achieved a 30% year on year revenue growth compared to FY25. What makes this 30% figure particularly significant is the quality of the growth. It is driven by two distinct engines. Volume expansion which comes through of our new centers and the product mix which happens to be there because of the genomic testing vertical that we have added. While we have seen a planned temporary compression in EBITDA margins due to pre operative costs, our core established centers continue to deliver industry leading efficiency.
Turning to our infrastructure, our project expansion is moving at a good pace. I am pleased to announce that 12 centers are fully commissioned and operational in nine months serving their respective micro markets with full clinical capabilities. An additional six facilities are currently in the execution phase. Perhaps the most encouraging development this quarter has been the market resonance of Suraksha Sutra are genomics and molecular verticals. The clinical adoption of this vertical has been resoundingly positive. This pivot is not just a point of pride. It is our primary moat against the price commodized commoditization seen in the routine testing market.
In essence, we are investing for scale, short term compression for long term dominance. We believe we are on the right track to deliver solid value to our shareholders over the long term. I once again thank all our stakeholders for the continuous support positioning us to scale new heights and deliver the best possible care. With that, I will hand over the call to our CFO for a detailed financial review. Thank you.
Ravindra K S — Chief Financial Officer
Thank you Ritu Ma’. Am. Warm welcome to everyone joining the call today. I will provide a brief on our financial performance for the quarter and nine months ended 31st December 2025. During Q3 of FY26 the company generated total income of 783.09 million up by a solid growth of 30.3% year on year. The number of patients served in Q3 FY26 increased by 23% year over year to 0.36 million whereas the number of tests performed grew by 30.7% year over year to 2.06 million. EBITDA increased by 26.1% year on year to reach 237.82 million while the corresponding margin was at 30.6%. While our aggressive network expansion over the past few months drove top line growth during the quarter, it also led to an impact on the EBITDA margin due to higher initial operating costs on new centers.
In Q3 FY26 PAT reached 72.41 million compared to 59.85 million in Q3. Of FY25 PAT margin was 9.3% compared to 10.1% in the year ago period. In 9 months FY26 the total income was 2003 13.81 million which is 21.86% year on year. EBITDA grew by 12.8% year on year to 734.04 million which is with the corresponding EBITDA margin reaching 32.1% in 9 months. FY26 the number of tests performed jumped by 27.2% year on year to reach 6.18 million. In the same period, the number of patients served increased by 19.3% year on year to reach 1.07 million.
The revenue per patient rose to 2140 compared to 2084 rupees in nine months FY25 while the EBITDA per patient fell to 686 rupees compared to 725 in nine months FY25. In terms of profitability, our 42 mature centers have robust EBITDA margin profile. On the other hand, our 24 new centers of which 18 centers are less than a year old impact the overall EBITDA margin. Although they drive top line growth momentum during each quarter. In nine months FY26 the average revenue from centers lesser than two years old has been rising sharply. As in previous calls, we reiterate that as our new centers mature and economies of scale set in, we expect our margins to revert to higher level.
We will continue to look for opportunity to lower our cost wherever possible to support margin improvement in the future. With that, I would like. I would. I would thank everyone for being part of the conference call and request the moderator to open the floor for the questions.
Questions and Answers:
operator
Thank you very much. So we’ll now begin the question and answer session. Anyone who wishes to ask a question may press star N1 on their touchstone telephone. If you wish to remove yourself from the question queue, you may press STAR and two participants are requested to use handset while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the line of Dhruv Maheshwari from Perpetuality Ventures LLP. Please go ahead.
Dhruv Maheshwari
Hi, I just got three quick questions. The first one is from slide 10. The EBITDA margins in the mature centers seem to be coming down. Can you help me with the reason behind this or is Q3 just a seasonal effect? The margins are lower this quarter.
Dr. Somnath Chatterjee
The Q3 margins are always quarter. 3 is the weakest quarter in health care. Almost a given seasonal thing. It’s a seasonal thing and that’s almost a given for any kind of health care. Anyway.
Dhruv Maheshwari
Got it. Understood. So this should. See this, this and is Q3 the weakest among all the quarters for you guys?
Dr. Somnath Chatterjee
Usually it is usually.
Dhruv Maheshwari
Okay, got it. The second question, it might be early to ask this but in genomics, what’s the current run rate?
Dr. Somnath Chatterjee
So we have.
NIREN KAUL
So currently what we are running at is around 2.1, 2.2 million a month. We are running. So last quarter Q3 we kind of reached at around 53 lakhs in first half we actually did 55 and 63. And we actually did 63. And that kind of a revenue we could be, you know, able to generate from the market in Q3 itself. And there is a quite upbeat in the market. Our teams are aligned. The feet on street is fully prepared to take the growth to the next level in the coming months.
Dhruv Maheshwari
Got it. The final question is on the next six centers which are scheduled to be opened. Can you help me with the locations or any geographical guidance of where they are within the eastern part of the country.
Ms. Ritu Mittal
So one of them is in Jharkhand and one of them is in a new district in West Bengal where we are not present. One is in another district where we already there. But we are adding one center and three are in Kolkata.
Dhruv Maheshwari
Got it. Thank you. Thank you so much.
operator
Thank you very much. The next question comes on the line of Nancy Yadav from Algero Capital. Please go ahead.
Nancy Yadav
Thank you for the opportunity. Sir, just wanted to ask a bookkeeping question. Just wanted to get to know the net debt or net cash number.
Dr. Somnath Chatterjee
The net debt as on date is very negligible because the borrowings, you have not borrowed any money as of now. So in the books around 1 to 1.5 crore is there as on date as a. Gross debt. But net debt will be positive with like around 29 crores.
Nancy Yadav
Okay, so this is our next cash position. Okay.
Dr. Somnath Chatterjee
Yeah.
Nancy Yadav
Okay. Thank you sir. That’s all.
operator
A reminder to all the participants that you may press star and one to ask a question. A reminder to all the participants that you may press star and one to ask a question. The next question comes from the line of Tanya Chaudhary from Investec. Please go ahead.
Unidentified Participant
Hi. Hi. This is Akash here. So I just wanted to ask a question. Of late we have observed that, you know, listed diagnostic players like Dr. Lal and Metropolis are also, you know, introducing genomics. So on a competitive scenario basis, how are we different from them? Or is it that the overall competitive scenario is lesser versus the routine testing? That’s it.
Dr. Somnath Chatterjee
As we have repeatedly said, you know, diagnostic industry is regional. I’m sure Dr. Lal being the largest diagnostic chain in the country would do very well in north. And I’m sure Metropolis having acquired core to its strength would do very well in west. But the only genomic complete genomic lab in the entire east and northeast belongs to Suraksha. There are a couple of reasons why we have an advantage. One is the turnaround time. These being highly specialized tests. So this takes time. The turnaround time for this test will be lower in our case for samples.
Received from eastern India. And two, Shurukha has built a technology team. Like we said. We have got now some international celebrities amongst us. Dr. Gitasri was the HOD of Kidwai and then the HOD of Tata Cancer and she is considered to be an authority on oral cancer globally. Dr. Oshima Mukhavartha is someone who was in the team which discovered the drug, the magic drug for ovarian cancer, the PARP inhibitor Repukarb. And Shurukha today under her guidance is designing an HRD assay for that test. So we might be smaller than both Lal and Metropolis but technologically we are at par with anybody in this country today.
Unidentified Participant
Yeah, that was it. You know, I just wanted to understand. So my following question is, so do you stick to your revenue guidance of 15% and EBITDA margins of 33 to 34% for this year or we could see a bit of a slowdown in the margins because of the new center ramp up.
Ms. Ritu Mittal
We definitely delivering better revenue as compared to what we committed. But the EBITDA will take a drag because of the pre operative expenses of all the new centers that we are adding. So it might end at around 32% sort of figure. But what we have to understand is as far as Suraksha is concerned, we need the scale today because we have to be of some size and that is our first priority. And all our costs are very much in line with the industry. So therefore we don’t see why the margin will not expand in the coming future.
But this is a conscious call that the company has taken to grow of some size before we start looking at the margins and margins we know we don’t even have to look at, it will automatically come because of economies of scale.
Unidentified Participant
So we should be expecting the margins to improve from FYI 27,
Ms. Ritu Mittal
I think. FY27. Third quarter.
Unidentified Participant
Okay. Okay. Yeah, that’s it. Thank you, ma’. Am.
Unidentified Participant
Thank you. A reminder to all the participants that you may press Star and one to ask a question. The next question comes from the line of Siddhan from TUX Investment. Please go ahead.
Siddhant Mayecha
Good afternoon everyone. My first question is regarding the EBITDA loss. Ma’. Am. What will be the EBITDA loss for the nine months in terms of new centers?
operator
They have to add one management one more in my call. Can you add him back up?
Siddhant Mayecha
Hello.
Ms. Ritu Mittal
Yes, just give me a minute. I will tell you. They beat. The loss. Is around 2 cr.
Siddhant Mayecha
2 cr. Okay. And ma’, am, when we talk about expansion we plan to add 12 to 15 center every year. This includes the PPB centers or this is without the PPP centers.
Ms. Ritu Mittal
Without the PPP centers.
Siddhant Mayecha
Okay.
Ms. Ritu Mittal
And PPP centers. I will once again reiterate that we really don’t actively look for but sometimes we are forced to do. And so we are definitely not looking for PPP projects in the future.
Siddhant Mayecha
What is the capex? Typical capex for a PPP project.
Ms. Ritu Mittal
So normally a PPP is either a city scan only a CT scan put inside a medical college or hospital or an mri. So in case of CT scan it would turn out to be around 2 and a half cr whereas in the case of MRI it turns out to be around 1314 cr.
Siddhant Mayecha
Okay. Okay. Okay, ma’. Am. Thank you. I’ll get back in the queue.
Ms. Ritu Mittal
Thank you.
operator
Thank you. The next question comes from the line of Hitendra Pradhan from Maximal Capital. Please go ahead.
Hitaindra Pradhan
Hi ma’. Am. Few data points needed. Few data points. So for our nine month our revenue growth was 22%. So can you give us the split of, you know, what was the volume growth? Because you mentioned that you know there was a healthy volume expansion in Q3. So what was the volume versus the price impact or the product mix impact?
Ms. Ritu Mittal
We have not had any price rise. So therefore the entire growth is volume LED and a little portion of it is genomic test lead which is also volume.
Hitaindra Pradhan
Okay. And Ma’, am, what is our like, mix of radiology versus pathology?
Ms. Ritu Mittal
Our radiology is I think 40, more or less half an hour. 46% is radiology, 48 is pathology and 6% is doctor. OPD.
Hitaindra Pradhan
Doctor. Okay, The split between the B2B, B2C. And
Ms. Ritu Mittal
B2G would be around 92 to 93%. And B2B would be 6 to 7% or 7 to 8%.
Hitaindra Pradhan
Sorry, ma’, am, can you come again? B2B was how much?
Ms. Ritu Mittal
7 to 8%.
Hitaindra Pradhan
Okay, 7 to 8%. It is somewhat reduced, right? It used to be somewhere around 10% or more.
Ms. Ritu Mittal
No, B2B used to be 6% actually.
Hitaindra Pradhan
Okay, okay, okay. And then you mentioned that, you know, as we are like, you know, the priority is to expand now and going to AD centers and for that, you know, reason, the margins will be under pressure. But ma’, am, like, you know, what is your, like, how do you view, like, you know, in terms of strategy? Are you prioritizing more radiology or, you know, in order to, you know, drive up margins by FY27? So what is your strategy like in the new centers?
Ms. Ritu Mittal
Basically, we are a comprehensive model and we always expand in a hub and spoke approach. So every big center is backed by five to six small centers. And that is the approach we will continue with.
Hitaindra Pradhan
Got it, Got it. And then you also mentioned about, you know, you don’t chase the, you know, PPP centers. Can you just elaborate? I mean, what are the pros and cons of, you know, getting into PPP centers? And why are you offensive?
Ms. Ritu Mittal
I mean, typically is a very low ppp. Typically is a very low margin business.
Hitaindra Pradhan
Right?
Hitaindra Pradhan
So, you know, might be very high. And can be predictable. Only the issue is the receivable site. Right? I mean, that is the problem that we hear.
Ms. Ritu Mittal
So there, there are definitely the price is a problem, receivable is a problem. And we would mindfully deploy our capital in other centers rather than ppp. But sometimes you have to do it and that’s when we do it.
Hitaindra Pradhan
Got it. And on the margin, overall margin side, are you guys seeing any raw material pressure from the raw material side? Are there any inflation happening and is that a headwind? You know, for the.
Ms. Ritu Mittal
See there will be. The genomic tests are typically more expensive as far as the cogs or the cost of goods is concerned. So. But then because our volumes are not so big overall, we don’t see much of a margin difference there.
Hitaindra Pradhan
But for the other businessmen, because currently, you know, our standard normal businesses are like, you know, driving the revenue so on that side we are not seeing any cost pressure in the.
Ms. Ritu Mittal
Can you please repeat
Hitaindra Pradhan
for these, you know, excluding genomics, are we seeing any cost pressure on the radiology and pathology standard business?
NIREN KAUL
So. Correct. So there is, this is to. There are two aspects to it. First aspect is the pathology part and the second part is the non pathologist for pathology. We have long term contracts wherein the global headwinds do not matter much because we, our prices of the products are kept for longer period of time. Right. So we kind of do that. But recently what we saw with the non pathology inventory, which mostly is films, so they have a, they were chasing a price impact because of the rise in the silver prices. But eventually last week you saw there was a, you know, major recollection in the silver prices.
So we expect the prices to remain stable for the period of time.
Hitaindra Pradhan
There is some volatility that is happening on the non technology side because of the silver.
NIREN KAUL
So it kind of has stabilized after the silver correction happened. So there is nothing that we see in the immediate future. But we all are, you know, will be affected by policies coming from the west.
Hitaindra Pradhan
Got it sir. Got it. Got it sir. On the GLP side, are we anticipating any kind of volume growth? I mean we hear a lot about, you know, the incremental upside to the, you know, the volumes, you know, testing and all when the semiconductor and the GLP is coming. So are you guys, what are your views on that? I mean are you anticipating any kind of volume upside to our business?
Dr. Somnath Chatterjee
So it is very difficult for us to understand because what we will get is a prescription. Now I am sure the prescriptions might have increased because people is quite popular in India now and the other drugs are also wegovy and everybody is getting in. For us it is difficult to measure the exact reflection. But in the medical community we understand that there is an increase in such.
NIREN KAUL
However, you will see there is a lot of licenses, the patents are going out of the period. So what will happen is there will be the price reduction everywhere and there will be multiple new participants in the market which will overall grow this market in next financial year. So by end of March we are. There are new entrants who are supposed to come in this field and of course everybody will kind of promote these products and the whole market is ready to evolve.
Hitaindra Pradhan
But as of now it is difficult to kind of gauge what can be, you know, what could happen to a brand initially.
NIREN KAUL
Movement, initial movements are there, but they are not as big to be of any notable listing currently.
Hitaindra Pradhan
Thank you sir. And all the best.
Unidentified Speaker
Thank you.
operator
Thank you. A reminder to all the participants that you may press star and one to ask a question. The next question comes from the line of Abhijit from PIK Asset. Please go ahead.
Unidentified Participant
Thanks for the opportunity. Hope I’m audible. My first question is what is the steady state revenue contribution you are targeting from genomics by say FY28.
Ms. Ritu Mittal
From.
Unidentified Participant
Genomics by what is the steady state revenue contribution you are expecting From Genomics by FY28.
Ms. Ritu Mittal
Genomics in 2020.
NIREN KAUL
So 2028 what? You know we have just started genomics so we are at a very nascent stage. Of course we see this business going in multiples rather than a gradual growth. So 28 we should be at a very good level and we’ll try entering to the apart from the reproductive health and this segment that we are having inherited disease detection. So we are going to enter into cancer as well as other lines of genetic wherein
Dr. Somnath Chatterjee
and this line is so. Evolving that very soon preventive genomics will come in a major way. It is difficult to put a number to it but the way it seems that it is going to be one of the major needle movers in the diagnostic industry. And that is why Shurukha has been at the front both with technology, with technically evolved team members. We have five PhDs working in our labs so we put a lot of emphasis on it and we think this is going to be a game changer. But like you say, difficult to put a number to it.
Unidentified Participant
Got it. And now that Fatimat has been a part of the group for nearly one year, so have you started seeing revenue synergies?
NIREN KAUL
So Fetor Met is an extension of fetal medicine which gynecologists mostly were driving earlier. And now there are fetal medicine experts that are doing, you know, invasive procedures getting into genomics. So certainly it has given a foothold in genomics for to Suraksha after the acquisition it has leveraged us to, you know, start in house testing with the few initial starts through Phytomat acquisition. And plus going forward all our, you know, market connects and market, you know, doctor engagements have started showing early signs of early signs of getting our more business to Fitomat as well.
Unidentified Participant
Got it. And lastly regarding the expansion into the adjacent businesses like Bihar and Northeast. So how is the unit economic in these new territories compared with the home ground in Kolkata and North?
NIREN KAUL
So next financial year of course we have so currently what we shared was the next three months rollout plan. Okay. So next financial year we have a extensive plan of entering into new geography New states and of course Northeast is part of it.
Unidentified Participant
Yes sir. How is the pricing power and the customer acquisition cost in these new geographies? As expected as compared with the Kolkata and nearby regions.
NIREN KAUL
So of course Kolkata is a metro which certainly has a, you know, advantage in spending power. So northeast in wherever we are getting into places are decent markets where we will be able to get the same traction equivalent to Kolkata types. Of course we will have to start with some initial market attraction, discounts and all. But gradually we will get to the almost Kolkata levels from northeast.
Unidentified Participant
So revenue per patient that we are generating from Kolkata, we are confident that we can generate from the these new regions and the northeast as well.
NIREN KAUL
Yes, yes, yes.
Unidentified Participant
Okay, got it. Thank you.
operator
Thank you. A reminder to all the participants that you may press Star and one to ask a question. The next question comes from the line of Keshav from Yeshvi securities. Please go ahead. Yes sir, you are.
Keshav Tikmany
Thank you for taking my question. So I had a couple of questions. Firstly like I don’t follow up to the previous participants questions. How are you planning? So if you’re entering into a new geography, so how are you planning to penetrate the market there? And like what is the plan of action who enter into that market?
NIREN KAUL
So we first of all, you know, kind of do an initial dipstick of the market. In that dipstick we engage with key opinion leaders over there and understand how the market is going to move, is currently moving over there. Right. And basis this market, whether it needs initial discount, whether it needs more engagement, whether it, whether it needs visibility to be built up in the territory. Everything we do as per the plan. In fact, our launches in the last two 3/4 new center launches have been, you know, media events kind of. So everything is on the table.
We do social media, this thing as well. So whichever thing we actually fully we have a complete rollout plan for a new center. Okay. So it encompasses all the things that need to be done. So first thing that we are mindful of is to not to erode the value from the market by deep discounting. Okay. So we understand the market first prevailing market and then only act according to that market. When we go to districts in West Bengal, there there is a price sensitivity. When we go to markets in other state capital, they have decent amount of play to be played.
Keshav Tikmany
Okay, good. Thank you so much. Sir. The one more question, sir, are we planning to take in price hikes in the coming future? And a follow up question to are we planning to take any price hikes?
Dr. Somnath Chatterjee
Can you please repeat the question? Sorry.
Keshav Tikmany
Existing centers.
Ms. Ritu Mittal
We can’t follow any. Are we planning to take any.
NIREN KAUL
Okay, price hike? You know it is as far as price hike is concerned, we do not expect to see a general price hike. But in segments we might do that. Overall we will not take a price incremental price hike. But there would be segments, there would be few tests, new tests that we launch or something. Existing test, you know, incremental, some positioning. But throughout there would. We would kind of not do it in the foreseeable patient
Keshav Tikmany
side by doing that.
NIREN KAUL
Pardon me.
Keshav Tikmany
So would we see any material impact on the revenue per patient if we take that price act on the particular segment?
Keshav Tikmany
So patients look what price is one thing for the existing product but if we introduce high price new test. Okay. So that will also kind of serve the purpose to build the volumes, the revenue volume.
Keshav Tikmany
Okay, okay. But this is just a last question from my side sir. I just wanted to understand sir, how is the diagnostic center transformed in the eastern Indiana and what can we expect in the future from the sector? So if you could just give a brief about that, about the sector.
NIREN KAUL
In general sector the diagnostic centers on the east are mostly mom and pop stores. So only serious player in east is Suraksha which are really an organized player and you know, trying to transform the market. So in that regard what we will do will actually be reflected in the market in a large scale.
Keshav Tikmany
Okay sir, thank you so much. That is it from my side.
operator
Thank you. I reminded all the participants that you may press star and one to ask a question. The next question comes from the line of Pratik Shah from Investing Alpha. Please go ahead.
Unidentified Participant
Hello. Yeah, thank you for the opportunity sir. So my first question is on the genomics segment. Can you share the annual revenue run rate that you expect to see in FY27?
NIREN KAUL
So annual run rate we expect to see is around 4cr4 plus year for next financial year.
Unidentified Participant
Okay. And another question is on the expansion. So are we looking at any new geographies or states in India for expansions?
NIREN KAUL
So yes, we just mentioned a while back that current year plan our CEO has already shared next year. We are well poised, our engagements have been done. We are well poised to enter northeast states. Couple of northeast states. One is definitely incrementally Bihar and Jharkhand even.
Unidentified Participant
Okay sir, that’s really nice and some one last question is can you provide a breakdown like in numbers in terms of the type or category of centers like you know, large or the small which you typically open with an annual capex of about 70 crores. So in FY27. Yeah, please continue, ma’. Am.
Ms. Ritu Mittal
So we typically open five hub centers, which are the big centers and 10 small centers.
Unidentified Participant
Okay. And just to follow up on that, so in FY27, do you expect an increase in the CAPEX or the number of centers opening?
Ms. Ritu Mittal
Any increase.
Unidentified Participant
Any plans of capex?
Ms. Ritu Mittal
We would again target 12 to 15 centers with similar capex.
Unidentified Participant
Got it, got it. Thank you. Thank you, ma’. Am.
Ms. Ritu Mittal
Thank you.
operator
Thank you. A reminder to all the participants that you may press star and one to ask a question. The next question comes from the line of Isha Murthy from Maskep Invest. Please go ahead.
Unidentified Participant
Hello, sir. So my question too is like, could you please provide a breakdown of how much of the top line growth in Q3 was driven by center additions and how much was by other factors, like if any.
NIREN KAUL
Top line growth was from accrete. What was the word again, please.
Unidentified Participant
So just wanted to know that how much of the top line growth in Q3 was driven by center additions? And other than that. Yeah.
NIREN KAUL
So it was around 6 Cr from the new center for Q3.
Unidentified Participant
Okay. Okay, sir, got your point. And also like competitors like reported EBITDA margins improvement. So like, are you looking at taking any specific measures towards margin improvement?
NIREN KAUL
Well, the revenue growth will, you know, kind of take care of the margin improvement as well because all our costs are, you know, mark to market and of course there are some small opportunities. We’ll definitely like to work on them. And mostly the economies of scale should kind of handle the margin issue.
Ms. Ritu Mittal
Okay, sir. Okay. Thank you. All the best.
operator
Thank you. A reminder to all the participants that you may press star and one to ask a question. A reminder to all the participants that you may press star and one to ask a question. The next question comes from the line of Sania Taparia from SAS Capital. Please go ahead.
Unidentified Participant
Hello.
operator
Yes, you are audible. Yeah.
Unidentified Participant
Thank you for the opportunity. So I had a question regarding that. From the centers which were under development at the end of quarter three, FY26, how many are you expecting to add in Q4? FY26.
Ms. Ritu Mittal
We are currently working on six centers for Q4 26. Out of that, there are three big centers and one PPP and two small centers.
Unidentified Participant
Okay. Okay.
Ms. Ritu Mittal
So I believe 60, 70% of this will definitely be operational and one or two might spill onto the first month of the next financial year.
Unidentified Participant
Okay, got it. Understood. Okay, thank you. Thank you. A reminder to all the participants that you may press star and one to ask a question. A reminder to all the participants that you may press star and one to ask a question. The next question comes from the line of Siddhan from Tusk Investment. Please go ahead. Mr. Siddhan, please proceed with your question.
Siddhant Mayecha
Yes. When are we targeting 100 centres? By which financial year?
Ms. Ritu Mittal
FY28.
Siddhant Mayecha
FY28. Okay. Okay. Thank you, ma’. Am. All the best.
Ms. Ritu Mittal
Thank you.
operator
Thank you. A reminder to all the participants that you may press star and one to ask a question. Ladies and gentlemen, as there are no further questions, I would now like to hand the conference over to Dr. Somnath Chatterjee for closing remarks.
Dr. Somnath Chatterjee
I’d like to thank all of you who have been patient enough to go through this session. We expect to do wonderfully well in the coming segments. And thank you. Thank you all.
operator
On behalf of Suraksha Diagnostic Limited. That concludes this conference. Thank you for joining us. And you may now disconnect your lines.