25 hospitals , out of

which 14 are owned and

11 are owned by others
Operating revenue

Rupees in millions

Year

Room rent
Medicines &
consumables
Management fee
Operating expenses
Materials
Personnel
Upkeep and services
S&GA

1043

678

73

2
3
4
5
6
7

258
258
400
400
Revenue from Rent

calculation of room rent

Year
Year
Year
Year
Year
Year
Year

1
2
3
4
5
6
7

occupancy rate

No of rooms

Room rent

0.6
0.606
0.61206
0.6181806
0.624362406
0.6306060301
0.6369120904

2280
2410
2490
2620
2806
3161
3311

2500
2875
3306.25
3802.1875
4372.515625
5028.39296875
5782.651914063

Year 1

Operating revenues
Medicine &
Total rent (A)
consumables
revenue (B)
1248300000
811395000

Year 2

1532570213

996170638.125 107279914.875

Year
Year
Year
Year
Year

1839170104
2247724385
2796073907
3658513737
4451010196

1195460567.84
1461020850.53
1817448039.84
2378033928.89
2893156627.09

Year

3
4
5
6
7

Management fee
[C]
87381000

128741907.3058
157340706.9797
195725173.5215
256095961.5724
311570713.6861

Operating expenses
Year
Year
Year
Year
Year

1
2
3
4

Total revenue
(A+B)
2059695000
2528740851
3034630672
3708745236

Material
Expenses(D)

Personnel
Expenses(E)

308954250
308954250
379311127.594 379311127.5938
455194600.831 455194600.8313
556311785.393 556311785.3926

Year 5
Year 6
Year 7

4613521947
6036547666
7344166823

692028292.094 692028292.094
905482149.845 905482149.8452
1101625023.39 1101625023.39

Revenue
Rent
Medicines
Operating revenue
from Operations(H)
Mananged fee (one
time)
Total revenue (I)
Expenses
ME
PE
UPKEEP
S&CG
Total Expenses (J)
EBDIT
Depreciation
EBIT
Tax@ 20%
Non operating EAT
Add depren
Gross cash flow
Investment
Free cash flow
Non Operating CF
Non Operating Free
cash flows

Year 1
1248 M
811 M

Calculation of Cash flow from operations

Year 2
Year 3
1533 M
1839 M
996 M
1195 M

2060 M

2529 M

3035 M

87 M

107 M

129 M

2147 M

2636 M

3163 M

309 M
309 M
371 M
371 M
1359 M
788 M
120 M
668 M
134 M
534 M
120 M
654 M
302 M
352 M

379 M
379 M
455 M
455 M
1669 M
967 M
132 M
835 M
167 M
668 M
132 M
800 M
441 M
359 M
300 M

455 M
455 M
546 M
546 M
2003 M
1161 M
148 M
1012 M
202 M
810 M
148 M
958 M
392 M
566 M

352 M

659 M

566 M

Rooms

Cumulative

2190

2190

Given
Medicine &
consumables
Management fee

90

2280

Material expense

0.15

130
80
130
186
355
150

2410
2490
2620
2806
3161
3311

Personnel exp
Upkeep exp
S&GA

0.15
0.18
0.18

0.65
0.07

Calculation for d
days in year

Total rent

Year

Rooms

365
365
365
365
365
365
365

1248300000
1532570212.5
1839170104.4
2247724385.4
2796073907.5
3658513736.7
4451010195.5

0
1
2
3
4
5
6
7

90
130
80
130
186
355
150

Calculation for I
Years
Year
Year
Year
Year
Year
Year
Year
Upkeep &
service
S&GA (G)
expenses (F)
370745100
370745100
455173353.113 455173353.11
546233521
546233521
667574142.471 667574142.47

1
2
3
4
5
6
7

Inv In Fixed
asset
200
300
240
500
800
1400
800

830433950.513 830433950.51
1086578579.81 1086578579.8
1321950028.07 1321950028.1

h flow from operations

Year 4
2248 M
1461 M

Year 5
2796 M
1817 M

Year 6
3659 M
2378 M

Year 7
4451 M
2893 M

3709 M

4614 M

6037 M

7344 M

157 M

196 M

256 M

312 M

3866 M

4809 M

6293 M

7656 M

556 M
556 M
668 M
668 M
2448 M
1418 M
182 M
1236 M
247 M
989 M
182 M
1171 M
702 M
469 M

692 M
692 M
830 M
830 M
3045 M
1764 M
236 M
1529 M
306 M
1223 M
236 M
1459 M
1071 M
387 M
600 M

905
905
1087
1087
3984 M
2309 M
330 M
1979 M
396 M
1583 M
330 M
1913 M
1827
86 M
800 M

469 M

987 M

886 M

M
M
M
M

1102
1102
1322
1322
4847 M
2809 M
379 M
2429 M
486 M
1943 M
379 M
2323 M
1192
1130 M
1130 M

M
M
M
M

Calculation for depreciation

Investment
200
300
240
500
800
1400
800

Gross NFA
1710
2010
2250
2750
3550
4950
5750

Calculation for Investment

Working
Cap
FA in M
Investment
200 M
618 M
300 M
759 M
240 M
910 M
500 M
1113 M
800 M
1384 M
1400 M
1811 M
800 M
2203 M

Net NFA

Depreciation

1710
1890
2118
2602
3368
4714
5420

600
120
132
148
182
236
330
379

CA

Inv In CA

516 M
618 M
759 M
910 M
1113 M
1384 M
1811 M

102
141
152
202
271
427
392

M
M
M
M
M
M
M

Cumulative
depreciation
600
720
852
1000
1182
1418
1748
2128

Total Inv
(FA+CA)
302 M
441 M
392 M
702 M
1071 M
1827 M
1192 M

25 hospitals , out of
which 14 are owned and
11 are owned by others
Operating revenue
Room rent
Medicines &
consumables
Management fee
Operating expenses
Materials
Personnel
Upkeep and services
S&GA

Rupees in
millions
1043
678
73
258
258
400
400
Revenue from Rent

calculation of room rent

Year
Year
Year
Year
Year
Year
Year

1
2
3
4
5
6
7

Year
Year 1

occupacy rate

No, of rooms

Room rent

0.5
0.5
0.5
0.5
0.5
0.5
0.5

2262
2366
2430
2534
2683
2967
3087

2500
2875
3306.25
3802.1875
4372.515625
5028.39296875
5782.6519140625

Operating revenues
Medicine &
Total rent (A)
consumables
revenue (B)
1032
671

Management fee

21

Year 2

1241

807

25

Year
Year
Year
Year
Year

1466
1758
2141
2723
3258

953
1143
1392
1770
2117

29
35
43
54
65

3
4
5
6
7

Operating expenses
Year
Year
Year
Year
Year

1
2
3
4

Total revenue
(A+B)

Material
Expenses(D)

Personnel
Expenses(E)

1703
2048
2419
2901

255
307
363
435

255
307
363
435

Year 5
Year 6
Year 7

3532
4492
5375

530
674
806

530
674
806

Revenue
Rent
Medicines
Operating revenue
from Operations(H)
Mananged fee (one time)
Total revenue (I)
Expenses
ME
PE
UPKEEP
S&CG
Total Expenses (J)
EBDIT
Depreciation
EBIT
Tax@ 20%
Non operating EAT
Add depren
Gross cash flow
Investment
Free cash flow
Non Operating CF
Non Operating Free
cash flows

Year 1
1032
671

Calculation of Cash flow from operations

Year 2
Year 3
1241
1466
807
953

1703

2048

2419

21
1724

25
2073

29
2449

255
255
307
307
1124
600
257
343
103
240
257
497
365
132

307
307
369
369
1352
721
263
458
137
321
263
584
438
146
300

363
363
435
435
1597
852
298
554
166
388
298
686
388
297

132

446

297

Medicine &
consumables
Management fee

0.65
0.02

Material expense

0.15

Personnel exp
Upkeep exp
S&GA

0.15
0.18
0.18

Calculation fo
days in year

Total rent (In M)

Year

Rooms

365
365
365
365
365
365
365

1032
1241
1466
1758
2141
2723
3258

0
1
2
3
4
5
6
7

90
130
80
130
186
355
150

Calculation fo
Years
Year
Year
Year
Year
Year
Year
Year
Upkeep &
service
expenses (F)
307
369
435
522

S&GA (G)
307
369
435
522

1
2
3
4
5
6
7

Fixed
Asset
200
300
240
500
800
1400
800

636
809
968

h flow from operations

Year 4
1758
1143

636
809
968

Year 5
2141
1392

Year 6
2723
1770

Year 7

2901

3532

4492

5375

35
2936

43
3575

54
4547

65
5440

435
435
522
522
1915
1022
368
654
196
458
368
825
693
133

530
530
636
636
2331
1244
477
766
230
537
477
1014
1052
-39
600

133

561

3258
2117

674
674
809
809
2965
1582
671
911
273
638
671
1309
1784
-475
800
325

806
806
968
968
3548
1893
762
1131
339
792
762
1553
1153
400
400

Room actually
Cummilative
added
0
2190

Year

Rooms

2190

90

72

2262

2
3
4
5
6
7

130
80
130
186
355
150

104
64
104
148.8
284
120

2366
2430
2534
2683
2967
3087

Calculation for depreciation

Investment
200
300
240
500
800
1400
800

Gross NFA
1710
2010
2250
2750
3550
4950
5750

Net NFA

depre

1710
1754
1987
2452
3182
4473
5079

600
257
263
298
368
477
671
762

Cummilative
depreciation
600
857
1120
1418
1785
2263
2934
3695

Calculation for Investment

FA in M

WCA

CA

Current Asset

200
300
240
500
800
1400
800

681
819
968
1161
1413
1797
2150

516
681
819
968
1161
1413
1797

165
138
148
193
252
384
353

Investment
365
438
388
693
1052
1784
1153

25 hospitals , out of
which 14 are owned
and 11 are owned by
others
Operating revenue

Rupees in millions

Year

Room rent
Medicines &
consumables
Management fee
Operating expenses
Materials
Personnel
Upkeep and services
S&GA

1043

678

73

2
3
4
5
6
7

258
258
400
400
Revenue from Rent

calculation of room rent

Year
Year
Year
Year
Year
Year
Year

1
2
3
4
5
6
7

Year
Year
Year
Year
Year
Year
Year
Year

1
2
3
4
5
6
7

occupacy rate

No, of rooms

Room rent

0.6
0.63
0.6615
0.694575
0.72930375
0.7657689375
0.8040573844

2280
2410
2490
2620
2806
3161
3311

2500
2875
3306.25
3802.1875
4372.515625
5028.3929688
5782.6519141

Operating revenues
Medicine & consumables
Total rent (A)
revenue (B)
1248
811
1593
1036
1988
1292
2525
1642
3266
2123
4443
2888
5619
3652

Management
fee
150
191
239
303
392
533
674

Operating expenses
Year
Year
Year
Year
Year
Year

1
2
3
4
5

Total revenue (A+B) Material Expenses(D)

2060
2629
3280
4167
5389

309
394
492
625
808

Personnel
Expenses(E)
309
394
492
625
808

Year 6
Year 7

Revenue
Rent
Medicines
Operating revenue
from Operations(H)
Mananged fee (one
time)
Total revenue (I)
Expenses
ME
PE
UPKEEP
S&CG
Total Expenses (J)
EBDIT
Depreciation
EBIT
Tax@ 20%
Non operating EAT
Add depren
Gross cash flow
Investment
Free cash flow
Non Operating CF
Non Operating Free
cash flows

7330
9272

1100
1391

1100
1391

Year 1
1248
811

Calculation of Cash flow from operations

Year 2
Year 3
1593
1988
1036
1292

2060

2629

3280

150

191

239

2209

2820

3518

309
309
371
371
1359
850
86
765
115
650
86
735
199
536

394
394
473
473
1735
1085
96
989
148
840
96
937
442
494
300

492
492
590
590
2165
1354
108
1246
187
1059
108
1167
403
764

536

794

764

Rooms

Cummilative

2190

2190

Medicine &
consumables
Management fee

90

2280

Material expense

0.15

130
80
130
186
355
150

2410
2490
2620
2806
3161
3311

Personnel exp
Upkeep exp
S&GA

0.15
0.18
0.18

0.65
0.12

Calculatio
days in year

Total rent

Year

Rooms

365
365
365
365
365
365
365

1248
1593
1988
2525
3266
4443
5619

0
1
2
3
4
5
6
7

90
130
80
130
186
355
150

Calculati

Upkeep &
service
expenses
(F)
371
473
590
750
970

Years
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
S&GA (G)
371
473
590
750
970

Fixed Asset
200
300
240
500
800
1400
800

1319
1669

1319
1669

ow from operations
Year 4
2525
1642

Year 5
3266
2123

Year 6
4443
2888

4167

5389

7330

9272

303

392

533

674

4470

5781

7864

9946

625
625
750
750
2750
1720
132
1588
238
1350
132
1482
722
760

808
808
970
970
3557
2224
171
2053
308
1745
171
1916
1105
811
600

1100
1100
1319
1319
4838
3025
239
2787
418
2369
239
2607
1885
722
800

760

1411

1522

Year 7
5619
3652

1391
1391
1669
1669
6119
3827
276
3551
533
3018
276
3294
1285
2009
2009

Calculation for depreciation

Investment

Gross NFA

Net NFA

depre

200
300
240
500
800
1400
800

1710
2010
2250
2750
3550
4950
5750

1710
1925
2154
2642
3418
4779
5511

600
86
96
108
132
171
239
276

Calculation for Investment

FA in M
WCA
515
657
820
1042
1347
1833
2318

CA
516
515
657
820
1042
1347
1833

Cummilative
depreciation
600
686
782
889
1022
1192
1431
1707

Current Asset Investment

199
-1
442
142
403
163
722
222
1105
305
1885
485
1285
485