BOT - INFRASTRUCTURE PROJECT

BOT - INFRASTRUCTURE PROJECT

ANNEXURE - I

BOT - INFRASTRUCTURE PROJECT

BOT - INFRASTRUCTURE PROJECT

ANNEXURE - II

ANNEXURE - II
ANNEXURE - III

ESTIMATED COST OF THE PROJECT & PROPOSED SOURCES OF FINANCE

A. ESTIMATED COST OF THE PROJECT

AMOUNT
(Rs crores)

Construction Costs
as per cost given in advertisement

1
16.00
44.00

Capital Investment - Equity

Term Loan Investment

2
16.00
44.00

3
16.00
44.00

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

AMOUNT
(Rs crores
27
28

DEBT SERVICE COVERAGE RATIO

Operational Years

10

11

12

13

14

1.77

3.75

6.56

10.23

14.11

18.22

22.60

27.27

32.25

37.59

43.31

49.46

56.09

63.23

386.42

Interest on Term Loan

15.84

15.84

15.18

13.86

12.54

11.22

9.90

8.58

7.26

5.94

4.62

3.30

1.98

0.66

126.72

Sub - Total ( A )

17.61

19.59

21.74

24.09

26.65

29.44

32.50

35.85

39.51

43.53

47.93

52.76

58.07

63.89

513.14

11.00

11.00

11.00

11.00

11.00

11.00

11.00

Cash Inflow from Operation

A. ESTIMATED REVENUE

Provisions
a. Contingencies @ 10%
b. Escalations @ 7.5%

13.00
9.75

Interest during construction period @ 12%

interest period assumed at 1 1/2 years

Other Current Assets

TOLL
Annualised For 360 days
1. Cars
2. Bus
3. LCVs
4. Trucks/HCVs/ MUVs

22.75
23.76
176.51
3.49

TOTAL

TOTAL REVENUE

180.00

Vehicles/ Increase
Vehicles/
Day
per annum Day
Rate Current
Year of Start
25
4500
10
5990
40
1500
3
1639
40
2100
5
2431
55
6000
10
7986
14100

B. OPERATING EXPENSES
1. Maintenance Expenses @ 3% ( Increase of 7.5% every year)
2. Insurance Charges @ 1.5% ( Decrease of 5% every year)
3. Toll Collection Expenses ( 5% of toll collections)
4. Interest Expenses @ 12 %

B. PROPOSED SOURCES OF FINANCE

1

Equity

48.00

0.0400

0.27

Debt

132.00

0.0880

0.73

180.00

0.1280
2.75

C. Income ( Total Toll collections less operating expenses)

TOTAL

WACC

Debt Equity Ratio

ASSUMPTIONS
1
2
3
4
5
6
7
8
9
#
#

15

Total

130.00

The cost as per the advertisement is given above w hich considers the preoperative expenses too.
The interest on Term Loan is assumed at 12% per annum
The cost of Equity is considered at 15%
The Term Loan is repayable from the 3rd year of operation in equal instalments of principal repayments only.
The construction period is 3 years and investment assumed evenly during the period
The interest on Term Loan during construction period is considered for average utilisation of the term loan
The raising of funds in the construction period from debt and equity considered on pro rata basis
The number of vehicles plying to be considered as given in the case
The increase in the number of vehicles plying has been considered as per past trend and given in Cell L 14 to 17
Assume 360 days of plying for revenue projections
Assume tax rate = 0

D. REPAYMENTS
Loan Repayments ( over 12 years from 3rd year of operation)
Cash surplus/Deficit
Cum .Cash
Outstanding Term Loan amount
Cash Inflow s ( Equity Funds Method)
Cash Inflow s ( Long term Funds Method)
NPV( Equity Funds)
Cum

15%

5.39
2.36
3.50
15.81

5.93
2.43
3.68
17.39

6.52
2.50
3.86
19.13

7.17
2.58
4.05
21.05

7.89
2.66
4.26
23.15

8.68
2.74
4.47
25.47

9.55
2.82
4.69
28.01

10.50
2.90
4.93
30.81

11.56
2.99
5.17
33.90

12.71
3.08
5.43
37.28

13.98
3.17
5.70
41.01

15.38
3.27
5.99
45.11

16.92
3.37
6.29
49.63

18.61
3.47
6.60
54.59

20.47
3.57
6.93
60.05

22.52
3.68
7.28
66.05

24.77
3.79
7.64
72.66

27.25
3.90
8.02
79.92

29.97
4.02
8.42
87.91

32.97
4.14
8.85
96.71

36.26
4.26
9.29
106.38

39.89
4.39
9.75
117.01

43.88
4.52
10.24
128.72

48.27
4.66
10.75
141.59

53.10
4.80
11.29
155.75

27.06

29.43

32.02

34.85

37.95

41.35

45.07

49.15

53.61

58.51

63.87

69.75

76.20

83.27

91.02

99.52

108.86

119.09

130.33

142.66

156.19

171.05

187.36

205.27

224.93

5.40
2.70
1.35
15.84
25.29
1.77

5.81
2.57
1.47
15.84
25.68
3.75

6.24
2.44
1.60
15.18
25.46
6.56

6.71
2.31
1.74
13.86
24.63
10.23

7.21
2.20
1.90
12.54
23.85
14.11

7.75
2.09
2.07
11.22
23.13
18.22

8.33
1.98
2.25
9.90
22.47
22.60

8.96
1.89
2.46
8.58
21.88
27.27

9.63
1.79
2.68
7.26
21.36
32.25

10.35
1.70
2.93
5.94
20.92
37.59

11.13
1.62
3.19
4.62
20.56
43.31

11.96
1.54
3.49
3.30
20.29
49.46

12.86
1.46
3.81
1.98
20.11
56.09

13.83
1.39
4.16
0.66
20.04
63.23

14.86
1.32
4.55
0.00
20.73
70.29

15.98
1.25
4.98
0.00
22.21
77.32

17.18
1.19
5.44
0.00
23.81
85.05

18.46
1.13
5.95
0.00
25.55
93.55

19.85
1.07
6.52
0.00
27.44
102.89

21.34
1.02
7.13
0.00
29.49
113.17

22.94
0.97
7.81
0.00
31.72
124.48

24.66
0.92
8.55
0.00
34.13
136.92

26.51
0.87
9.37
0.00
36.75
150.61

28.50
0.83
10.26
0.00
39.59
165.68

30.63
0.79
11.25
0.00
42.67
182.26

3.75
5.52
132.00

11.00
-4.44
1.08
121.00

11.00
-0.77
0.31
110.00

11.00
3.11
3.41
99.00

11.00
7.22
10.63
88.00

11.00
11.60
22.23
77.00

11.00
16.27
38.50
66.00

11.00
21.25
59.75
55.00

11.00
26.59
86.33
44.00

11.00
32.31
118.64
33.00

11.00
38.46
157.11
22.00

11.00
45.09
202.19
11.00

11.00
52.23
254.42
0.00

70.29
324.71

77.32
402.03

85.05
487.08

93.55
580.62

102.89
683.51

113.17
796.68

124.48
921.16

136.92
1058.08

150.61
1208.69

165.68
1374.37

182.26
1556.63

-48.00
-180.00

-16.00
-60.00

-16.00
-60.00

-16.00
-60.00

1.77
17.61

3.75
19.59

-4.44
21.74

-0.77
24.09

3.11
26.65

7.22
29.44

11.60
32.50

16.27
35.85

21.25
39.51

26.59
43.53

32.31
47.93

38.46
52.76

45.09
58.07

52.23
63.89

70.29
70.29

77.32
77.32

85.05
85.05

93.55
93.55

102.89
102.89

113.17
113.17

124.48
124.48

136.92
136.92

150.61
150.61

165.68
165.68

182.26
182.26

PV

-13.91
-13.91

-12.10
-26.01

-10.52
-36.53

1.77
1.77
132.00

1.01
-35.52

1.86
-33.66

-1.92
-35.57

-0.29
-35.87

1.02
-34.85

2.05
-32.80

2.87
-29.93

3.50
-26.43

3.97
-22.46

4.32
-18.14

4.57
-13.57

4.73
-8.85

4.82
-4.03

4.85
0.82

5.68
6.50

5.43
11.94

5.20
17.13

4.97
22.10

4.75
26.86

4.55
31.40

4.35
35.75

4.16
39.91

3.98
43.89

3.81
47.69

3.64
51.33

-53.19
-53.19

-47.16
-100.35

-41.80
-142.15

10.88
-131.27

10.73
-120.55

10.55
-109.99

10.37
-99.63

10.17
-89.46

9.96
-79.50

9.75
-69.76

9.53
-60.23

9.31
-50.92

9.09
-41.82

8.88
-32.95

8.66
-24.28

8.45
-15.83

8.24
-7.59

8.04
0.45

7.84
8.30

7.65
15.94

7.46
23.40

7.27
30.67

7.09
37.76

6.91
44.67

6.74
51.41

6.57
57.99

6.41
64.40

6.25
70.65

Repayment of Term Loan

11.00

11.00

11.00

11.00

11.00

132.00

Interest on term Loan

15.84

15.84

15.18

13.86

12.54

11.22

9.90

8.58

7.26

5.94

4.62

3.30

1.98

0.66

126.72

Sub Total ( B )

15.84

15.84

26.18

24.86

23.54

22.22

20.90

19.58

18.26

16.94

15.62

14.30

12.98

11.66

258.72

1.11

1.24

0.83

0.97

1.13

1.33

1.55

1.83

2.16

2.57

3.07

3.69

4.47

5.48

1.98

D.S.C.R. ( A / B )

51.33
NPV ( Long Term Funds)
Cum

12.8%

PV

70.7

Opening Balance
Closing Balance

ODYSSEY MOTORS PRIVATE LIMITED

ESTIMATED COST OF THE PROJECT & PROPOSED SOURCES

ESTIMATED
OF FINANCE
AMOUNT
AS PER ORIGINAL
A. ESTIMATED COST OF THE PROJECT
PROJECT REPORT
(Rs.,000's)
Land

1152

Building

3830

Electricals and other system installations like

CCTV, Computers, Interiors, Furnishing & Furniture

1700

Equipment for Workshop

1600

ODYSSEY MOTORS PRIVATE LIMITED

ODYSSEY MOTORS PRIVATE LIMITED

ODYSSEY MOTORS PRIVATE LIMITED

ODYSSEY MOTORS PRIVATE LIMITED

ANNEXURE - XIII
ANNEXURE - XII

2
3

PROJECTED CASH FLOW STATEMENT

ANNEXURE - XIV

DEBT SERVICE COVERAGE RATIO

0

560

AMOUNT
INCURRED AS
on 31.3.99
(Rs.,000's)

1007

4
Security Deposits

Total

Cash Inflow from Operation

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Interest on Term Loan

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Sub - Total ( A )

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5
Preliminary & Pre-operative Expenses
6
Contingencies ( 5% of 2, 3, 4 )

357

3326

Capital Cost of the Project

9199

ANNEXURE - IV
239

Add : Working Capital requirement

9

AMOUNT
(Rs.,000's)
Year III

1015
WCF (LC) Non Fund Based

Ist Year

Year II

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Term Loan from

Bank

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(Rs.,000's)
6
7

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Working Capital
Finance

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Cash Inflow from

Operation

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Sub Total ( B )

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Total Sources (A)

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Unit/ Year
Nos.

210
B. PROPOSED SOURCES OF FINANCE
Promoters Capital
i)
Unsecured Loans
ii)
Term Loan from Bank
iii)

0
4900
6387
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1917
5000

A. Vehicle Sales
Commission on Sale
of Vehicles only

Margin/
Sales/ Unit

Amount
Unit/ Year Amount Unit/ Year Amount
Rs.,000's
Nos. Rs.,000's
Nos. Rs.,000's

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APPLICATION

DEBT SERVICE COVERAGE RATIO(GROSS)

800 STD
800 Dx
Omni
Gypsy
Esteem LX/ VX
Zen

168
132
96
12
24
48

5110
5410
5110
10800
13650
6310

858
714
491
130
328
303

193
152
110
14
28
55

987
821
564
149
377
348

222
175
127
16
32
63

1135
944
649
171
433
401

480

552

Cash Inflow from Operation

Total

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5000
Total Funds including Working Capital

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WCF (LC) Non Fund Based

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334
1549

Fixed Assets
Preliminary Expenses
Current Assets/
Repayment of
Term Loan
Dividends

Interest on Term Loan/WCF

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Total Application (B)

B. Vehicle Servicing( Labour)

C. Spares & Accessories Sales
Accessories
Spares (Direct)
Spares (M A S S)

3000

300

900

3450

1035

3968

1190

480
3000
6

3000
400
300000

1440
1200
1800

552
3450
7

1656
1380
2070

635
3968
8

1904
1587
2381

8163

9388

10796

Sub - Total ( A )

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(ii) Preliminary Exp.

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(iv) Cash & Bank Bal.

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Total Assets

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LIABILITIES
(i) Equity

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Repayment of Term Loan

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Interest on term Loan/WCF

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Sub Total ( B )

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Gross D.S.C.R. ( A / B )

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Closing Balance

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1421
AS PER ORIGINAL
PROJECT REPORT
(Rs.,000's)
8304

Land :
Land ( 78 Dec. @ Rs 9000/- )
Land Filling,Development, Beautification and Parking
Building
Office/ Show room Buildings ( 4000 sq.ft. @ Rs 450/- )
Workshop Building ( 6000 sq.ft. @ Rs 230/- )
Basement ( G.I. Roofing 3000sq.ft. @ Rs 150/- )
Boundary Wall, Gate, Watchman's Qr., etc.

702
450

1800
1380
450
200
(Rs.,000's)
AMOUNT INCURRED
AS on 31.3.99
1152
(Rs.,000's)

Land
Land ( 49.2 Dec. @ Rs 9000/- )
Land Filling,Development, Beautification and Parking
Advance for Land

443
325
239
3830
TO BE INCURRED
( 99 - 2000 )
(Rs.,000's)

Land
Land ( 28.8 Dec. @ Rs 9000/- )

(Rs.,000's)
259
Opening Balance
( FINAL AMOUNT )
1007
(Rs.,000's)

Building
Basement Floor (Workshop including
main foundation)
7045 sq. ft. @ 390/G I Roofing w orkshop shed
2723 sq ft @ 185/(PDI Denting, Painting, Compressor room)
Washing Ramp

2748
504

115

Show room

4700 sq ft @ 390/-

1833

Mezzanine rooms

1633 sq ft. @ 165/-

269

(ii) Reserves
(iii) Unsecured Loans

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Increase/(Decrease)
in Cash during the
Year ( A - B)
Opening Balance

6883
ODYSSEY MOTORS PRIVATE LIMITED

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(v) W.C.F.

635

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WCF (LC) from Bank

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Total Liabilities
8304

Working Capital Finance (CC)

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(iii) Current Assets

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(Rs.,000's)
6
7

(i) Fixed Assets

590
Estimated Cost of the Project

PROJECTED BALANCE SHEET

ASSETS

Repayment of Term Loan

ESTIMATED REVENUE

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Promoter's Fund
Unsecured Loans

Interest on term Loan

7
8

SOURCES

(Rs.,000's)

5469

Closing Balance