Hello @Tanul ,
Yes , It is possible in AKS to implement HPA based on "requests per second".
Have a look at the below articles:
https://github.com/Azure/azure-k8s-metrics-adapter
YouTube Video for Custom Scale Metrics: https://www.youtube.com/watch?v=XcKcxh3oHxA
Request per second example walk through custom Metrics from Application Insights:
https://github.com/Azure/azure-k8s-metrics-adapter/tree/master/samples/request-per-second
Hope those articles helps you out in the implementation, good luck.