starting date of toll b

2010 2011 2012 2013 2014

assumptions
width of the bridge 24 m
site clearance 24000 m2
cost per sq.m 100 per sqmt
cost of clearance 2400000

cost of cons. Of road 30000000

manpower No
Engineer salary 250000 Per year 4
Head Supervisor 1000000 Per year 1

Permanent staff 100000 Per year 2

Technical Consultant 2% of Project Cost 600000

Total Project Cost

Traffic Projection
Growth rate 4%

Types of Vehicles 2012 2013 2014 2015

2 Wheeler 20000 20800 21632 22497
4 wheelar 75000 78000 81120 84365
S.T.Buses 1000 1040 1082 1125
Total Length 2.5 10
Vehicle perRates Rate per KmRate of 2.5 km
2 Wheeler 7.5 18.75 18.75 18.75 18.75 20.63
4 wheelar 10 25 25 25 25 27.5
S.T.Buses 1000 2500 2500 2500 2500 2750

Final Revenue
2 Wheeler 375000 390000 405600 ###
4 wheelar 1875000 ### ### ###
S.T.Buses 2500000 ### ### ###

Year wise Revenue 4750000 ### ### ###

Total Revenue ###

Sources 37400000
Share
Private Operator Equity 25 9350000
Authority Equity 15 5610000
State Govt. Equity 10 3740000
State Govt. Debt at 6% 10 3740000
Senior Lenders Debt at 10 % 40 14960000

Operation Expense

O.M Of Bridge
 2015 2016 2017 2018 2019 2020 2021 2022 2023

Total Total Project

Totaltime
costin year
### 2 ###
### 2 ###

200000 2 400000

Total Project Cost ### Rs

2016 2017 2018 2019 2020 2021 2022 2023 2024

23397 24333 25306 26319 27371 28466 29605 30789 32021
87739 91249 94899 98695 102643 106748 111018 115459 120077
1170 1217 1265 1316 1369 1423 1480 1539 1601
20.63 20.63 22.69 22.69 22.69 249.56 249.56 249.56 274.52
27.5 27.5 30.25 30.25 30.25 332.75 332.75 332.75 366.03
2750 2750 3025 3025 3025 33275 33275 33275 36602.5

### ### ### ### ### ### 7388269.29 7683800.06 8790267.27

### ### ### ### ### ### ### ### ###
### ### ### ### ### ### ### ### ###

### ### ### ### ### ### 93584744 97328134 111343385

 2024 2025 2026 2027 2028 2029 2030 2031 2032

2025 2026
33301 34634
124881 129876
1665 1732
 274.52 274.52
366.03 366.03
36602.5 36602.5

9141877.96 ###
### ###
### ###

115797121 120429006
2033 2034
A Cost Estimates
Consultant Fees
Expert Fees
Environmental Clearence
Preoperative Expense
Contigencies
Increase in Manpower cost
Cost of Engineers (Rs.)
Cost of Supervisor (Rs.)
Cost of Permenant Staff (Rs.)
Cost of Administrative Office
Cost of Construction Toll Plaza

B Traffic Projections
Average Annual Growth Rate in vehicular traffic
Inflation Rate (Every 3rd Year)
Bridge Length

Toll Rate
2- Wheelers
4- Wheelers
S.T.Bus
Advertisement Revenue

C Financial Plan
Interest During Construction is Payed back quarterly
Moratorium Period is considered as 3 years for both the debts

D Operation And Maintenance

Inflation
Operation And Maintenance of Bridge
Periodic Re-Surfacing
Increase in Operation of Toll Plaza
Cost of Operating Toll Plazas

E Depreciation
Written Down Value Method
Straight line Method

F Proffit And Loss Account

Corporate tax
G Cash Flow
Method of Depreciation Considered for preparing the cash Flow in straight line Method
WACC is considered as Discounting rate for Project NPV
Cost of Equity is Considered as Discounting rate for Equity NPV

COST ESTIMATION

A Construction Cost
Discription
1.50% Of total Construction Cost
0.50% Of total Construction Cost
5% Of Construction Cost
3% Of total Construction Cost
5% Of total Construction Cost
10% Per Annum
### Per Annum
### Per Annum
### Per Annum
0.50% Of Construction Cost
1% Of Construction Cost

4%
10%
2.5 K.m.

7.5 K.m.
10 K.m.
1000 K.m.
1% Of Total Vehicular Toll Revenue

4% Every Year
1.5% Of initial Investment
4% Every 3 Year
10% Every Year
5% O & M of Bridge

15%
10%

40%
aight line Method
 Cost Estimates
Consultant Fees 1.50% Of total Construction Cost
Expert Fees 0.50% Of total Construction Cost
Environmental Clearence 5% Of Construction Cost
Preoperative Expense 3% Of total Construction Cost
Contigencies 5% Of total Construction Cost
Increase in Manpower cost 10% Per Annum
Cost of Engineers (Rs.) 500000 Per Annum
Cost of Supervisor (Rs.) 300000 Per Annum
Cost of Permenant Staff (Rs.) 100000 Per Annum
Cost of Administrative Office 0.50% Of Construction Cost
Cost of Construction Toll Plaza 1% Of Construction Cost

A Construction Cost
Description Unit No
Land Cost 0 0
Site Clearances Sqm. 2
Bridge Construction Km. 1
Site Office L.S.
Construction of Toll Plaza L.S. 2
Expert Fees L.S.
Total (Bridge Cost)

B Man Power

Site Clearances Unit No

Engineer Persons 4
Supervisor Persons 1
Permanent staff Persons 2

Total (Man Power)

C Expert & Consultancy

Supervisor
Technical Consultancy fees
Expert employed by State Govt.
Total (Expert & Consultancy)
 D Pre Operative Expenses

E Contengencies

A+B+C
+D+E Total Project Cost
Length Breadth Height Quantity Rate (Rs.)/Sq.mAmount (Rs.)
0 0 0 0 0 0
500 24 1 24000 100 2,400,000
2.5 1 1 2.5 12,000,000 30,000,000
150,000
648,000
1,627,500
###

Rate / Rate / Amount

Period Annum(IN Annum(INR.) Amount (INR)
(Years) R.) Year I Year II (INR) Year I Year II
1 ### 550,000 2,000,000 ###
1 ### 330,000 300,000 330000
1 ### 110,000 200,000 220000
2,500,000 ###
###

Amount (INR)
522,383
174,128
696,510
###

###

###
 COST ESTIMATION

A Construction Cost
Discription
Average Annual Growth Rate 4%
rd
Inflation Rate (Every 3 Year) 10%
Bridge Length 2.5 Km.
Toll Rates
2- Wheeler 7.5 per km
4-Wheeler 10 perkm
S.T.Bus 1000 per vehicle per annum
Advertisement Revenue 1% of Total Vehicular Toll Revenue
Inflation rate is also applied to the per annum payment of State Transport Buses

1 2 3 4 5
2013 2014 2015 2016 2017

Traffic Projection
2- Wheeler 20000 20800 21632 22497 23397
4-Wheeler 75000 78000 81120 84365 87739
S.T.Bus 1000 1040 1082 1125 1170

Toll Projection
2-Wheelers (Rs) 18.75 18.75 18.75 20.63 20.63
4-Wheelers (Rs) 25 25 25 27.5 27.5
S.T. Bus (Rs./each) 1000 1000 1000 1100 1100

Toll & Advetisement Revenue Generation(INR)

2-Wheelers (Rs) 375000 390000 405600 464006 482567
4-Wheelers (Rs) ### ### ### ### ###
S.T. Bus (Rs./each) ### ### ### ### ###
Advertisement Revenue 32500 33800 35152 40214 41822
Total Revenue Generation ### ### ### ### ###
nsport Buses

6 7 8 9 10 11 12 13 14 15
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

24333 25306 26319 27371 28466 29605 30789 32021 33301 34634
91249 94899 98695 102643 106748 111018 115459 120077 124881 129876
1217 1265 1316 1369 1423 1480 1539 1601 1665 1732

20.63 22.69 22.69 22.69 24.96 24.96 24.96 27.45 27.45 27.45
27.5 30.25 30.25 30.25 33.28 33.28 33.28 36.6 36.6 36.6
1100 1210 1210 1210 1331 1331 1331 1464.1 1464.1 1464.1

501869 574139 597104 620988 710411 738827 768380 879027 914188 950755
### ### ### ### ### ### ### ### ### ###
### ### ### ### ### ### ### ### ### ###
43495 49759 51749 53819 61569 64032 66593 76182 79230 82399
### ### ### ### ### ### ### ### ### ###
PROJECT TIME TABLE

Financial Close 31-Dec-10

Operations Period Considered (Months) 180
Construction Schedule
Start of Construction Period 1-Jan-11
Construction Period (months) 24
End of Construction Period 31-Dec-12
Operations:
Commercial Operations Date 1-Jan-13
Project Period Ends 31-Dec-27
First Financial Year Begins 1-Jan-11
First Financial Year Ends 31-Dec-11
Concession Period:
Concession Period Starts 1-Jan-13
Concession Period Ends 31-Dec-27
 Contribution Cost
EQUITY 50%
Private operator 25%
Authority 15%
state government 10%
DEBT 50%
Sub Ordinated 10% 6%
Senior Debt by Senior Lender 40% 10%
Total Project Cost

INTEREST DURING CONSTRUCTION Q1-1 Q1-2

5444756 5444756
16334269
Contribution of Equity 5444756 5444756
Contribution By Sub Oriented Debt
Contribution By Senior Debt

Total 5444756 5444756

Interest During Construction

Sub-Ordinated
Senior Debt By senior Lender
Total
Grand TOTAL IDC 1186957

Senior Sub-ordinated
Proportion of Total Debt 40% 10%
Proportion of Total Debt (Amount in INR) 0 0
Prime Lending Rate 10% 6%
Interest Rate (During Construction Period) 10% 6%
Interest Rate (During Operations Period) 10% 6%
Drawdown Starts 1-Jan-2012 1-Jan-2012
Repayment (years ) 10 10
Repayment per year 1 1
No. of Instalments 10 10
Repayment / Redemption Starts 1-Jan-2014 1-Jan-2014
Repayment / Redemption Ends 31-Dec-2023 31-Dec-2023

Moratorium Period- 3 years 3 3

Share Total Equity/Debt
21779025
10889513
6533708
4355805
21779025
4355805
17423220
43558050 Check

Q1-3 Q1-4 Q2-1 Q2-2 Q2-3 Q2-4

5444756 5444756 5444756 5444756 5444756 5444756
10889513 5444756
5444756 5444756
4355805
1088951 5444756 5444756 5444756

5444756 5444756 5444756 5444756 5444756 5444756

261348
108895 408357 272238 136119
370243 408357 272238 136119
INTEREST ON SENIOR AND SUB-ORDINATED DEBT

2011 ### ### 2014 2015 2016

0 1 2 3 4
Interest On Senior Debt 0 0 0 ### ### 1393858
Principal Senior Debt
(Repayment) 0 0 0 ### ### 1742322
Repayment of Senior Debt 0 0 0 ### ### ###

Interest On Subordinated Debt 0 0 0 522697 ### ###

Principal Sub-Ordinated Debt
(Repayment) 0 0 0 435581 435581 435581
Repayment of Sub-Ordinated Debt0 0 0 ### ### 644659
 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
5 6 7 8 9 10 11 12 13 14
1219625 ### 871161 696929 522697 348464 174232 0 0 0

1742322 ### ### 1742322 ### ### ### 0 0 0

### ### ### ### ### ### ### 0 0 0

### ### ### ### ### ### ### 0 0 0

435581 435581 435581 435581 435581 435581 435581 0 0 0

618524 ### ### 540120 ### ### ### 0 0 0
2027
15
0

0
0

0
0
 OPERATION AND MAINTENANCE
A Assumptions

Inflation 4.00% every year

Operation and Maintenance of Bridge 1.50% of Initial Investment
Periodic Re-surfacing 4.00% every 3rd Year
Increase in Operations of Toll Plaza 10.00% every year
Cost of Operating Toll Plazas 5.00% of O&M for Bridge

B Operation and Maintenance

2011 2012
Initial Investment 43,558,050 0 1
O&M Bridge 0 0
Periodic Re-surfacing
Operating Toll Plazas 0 0

cost of periodic resurfacng has to be considered in referenece with construction cost

 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
2 3 4 5 6 7 8 9 10 11
### ### ### ### ### ### ### ### ### ###
### ### ###
### ### ### ### ### ### ### ### ### ###

ruction cost
2023 2024 2025 2026 2027
12 13 14 15 16
### ### ### ### ###
###
### ### ### ### ###
DEPRECIATION

Assumptions
Method of DepreciationWDM SLM
Rate of Depreciation 15% 10%

Depreciation

2011 2012 2013 2014 2015 2016

0 1 2 3 4
Depreciation (WDV) ### ### ### ###
Written Down Value ### ### ### ###
Depreciation (SLM) ### ### ### ###
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
5 6 7 8 9 10 11 12 13 14
### ### ### ### ### ### ### ### ### ###
### ### ### ### ### ### ### ### ### ###
### ### ### ### ### ### ### ### ### ###
2027
15
###
###
###
PROFIT AND LOSS ACCOUNT

Assumptions
Minimum Alternative Tax 0%
Corporate Tax 40%
Repayment of the principal for Debt Amount is not considered in the Profit and Loss Account

2011 2012 2013 2014 2015

EXPENDITURES
O&M Bridge 0 0 ### ### ###
Perioding Re-surfacing 0 0 0 0 0
Operating Toll-Plazas 0 0 ### ### ###
Non-Operating Expenses 0 0 0 0 0
Interest on Senior Debt 0 0 0 ### ###
Interest on Subordinate Debt 0 0 0 ### ###
TOTAL EXPENSES 0 0 686039 ### ###

REVENUES
Operating Revenues
Toll Revenues ### ### ###
Advertisement Revenue 32500 33800 35152

TOTAL REVENUES ### ### ###

PROFIT BEFORE DEPRE & TAX ### ### ###

DEPRECIATION ### ### ###
PROFIT BEFORE TAX ### ### ###
Corporate Tax
PROFIT AFTER DEPRE & TAX
rofit and Loss Account

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

### ### ### ### ### ### ### ### ### ###
### 0 0 ### 0 0 ### 0 0 ###
### ### ### ### ### ### ### ### ### ###
0 0 0 0 0 0 0 0 0 0
### ### ### ### ### ### ### ### 0 0
### ### ### ### ### ### ### ### 0 0
### ### ### ### ### ### ### ### ### ###

### ### ### ### ### ### ### ### ### ###
### ### ### ### ### ### ### ### ### ###

### ### ### ### ### ### ### ### ### ###

### ### 178253 ### ### ### 183508 ### ### ###
### ### ### ### ### ### ### ### ### ###
### ### ### ### ### ### ### ### 840498 ###
2026 2027

### ###
0 0
### ###
0 0
0 0
0 0
### ###

### ###
### ###

### ###

### ###
### ###
### ###
CASHFLOW AND EIRR

Assumptions
Method of Depreciation considered for preparing the cash flow is Straight line Method
WACC is considered as Discounting rate for Project NPV
Cost of Equity is Considered as Discounting rate for Equity NPV

2011 2012 2013

0 0 1
Depreciation ###

Initial Investment

Cash Flow
NPV
IRR

EQUITY IRR
Initial Investment
Depreciation (SLM)
Principal Repayment

Cashflow

NPV
EIRR
w is Straight line Method

2014 2015 2016 2017 2018 2019

2 3 4 5 6 7
### ### ### ### ### ###
2020 2021 2022 2023 2024 2025
8 9 10 11 12 13
### ### ### ### ### ###
2026 2027
14 15
### ###