Beruflich Dokumente
Kultur Dokumente
Construction Period I
OUTLAYS
Preliminary and Preoperative Expenses
total MAINTENANCE cost including taxes
construction cost
1889
7984
Financing
Share Capital
from PD upfront
Short Term Bank Borrowing
3194
600
2383
(rs cr)
Construction Period II
1801
7984
1801
7984
256.17
231
4th year
205
1.02
179
5th year
1.071
154
6th year
1.12455
128
ALL FIGURES IN Rs Cr
7th year
1.18077
103
ALL FIGURES IN Rs Cr
8th
9th
1.23981
77
10th
1.3018
51
1.36689
26
Sales
variable cost
Interest
Depreciation
PBT
add back depreciation and interest
cash inflow
less amortized principle amount
final cashflow(all
flow negative)
2011-12
1st Operating Year
2012-13
2nd Operating Year
1889
1801
256.17
231
290.62
290.62
-2435.79
-2322.62
546.79
521.62
-1889
-1801
238
238
-2127
-2039
NPV=-INITIAL CASH INVESTMENT +11YEARS CASH FLOW DISCOUNTED AT 12
ASSUMTION
assumed the 1st 4 years will be construction period and then from the fifth y
assumed interest rate as the bank rate which is prevailing currently(10.75)
assumed depreciation at 10%
AS our cash flow are all negative and as we cannot apply tax on negative cash
are long term projects whose gestation period is atleast 25 year so no tax.
2013-14
3rd operating year
1801
205
290.62
-2296.62
495.62
-1801
238
-2039
2014-15
4th
1513
179
290.62
-1982.63
469.62
-1513.01
238
-1751.01
2015-16
5th
1.02
1513
154
290.62
-1956.6
444.62
-1511.98
238
-1749.98
2016-17
6th
1.071
1513
128
290.62
-1930.5
418.62
-1511.8
238
-1749.8
2017-18
7th
1.12455
1456
103
290.62
-1848.49
393.62
-1454.87
238
-1454.87
period and then from the fifth year the proceeds from the sale of tickets will be enjoyed
is prevailing currently(10.75)
nnot apply tax on negative cash flow so we don't calculate tax rate.as metro projects
d is atleast 25 year so no tax.
2018-19
8th
1.18077
1324
77
290.62
-1690.43
367.62
-1322.81
238
-1560.81
2019-20
9th
1.23981
1034
51
290.62
-1374.38
341.62
-1032.76
238
-1270.76
2020-21
10t
1.3018
1034
26
290.62
-1349.3
316.62
-1032.68
238
-1270.68
2021-22
11th
1.36689
1034
290.62
-1323.25
290.62
-1032.63
238
-1270.63
1
2
3
4
5
6
7
8
9
10
11
IRR
-1642.6
-1361.8
-1184.18
-865
-751.2
-653.24
-546.6
-432.16
-293.35
-255.09
-221.82
-8207.04
at 15%
NPV=(23952)+(10405.3)
-34357.3
now,irr=12%+(10405.3)/(10405.3+
0.1432
PAYBACK PERIOD
as we are taking only 11 years of cash flow
we donot have any payback period.but in
project which has high gestation period its supposed to have a payback period of about 26 years.
52)+(10405.3)
%+(10405.3)/(10405.3+3)+8207.04
(15%-12%)