CKGS wouldnt know or care whether your visa is approved. They pass it on to the Indian embassy or consulate after checking that your documentation is ok and the fees are paid. After that the consulate sends them back the passport which they fedex to you.
"Ready for collection" sounds weird - like they expect you to go there and pick it up. You might call them if you don't get an update on package movement from fedex in the next day or two.