Serial Topics Page No.

No.
1 Preamble 1

2 Purpose of Study 2

3 About Business 3-4

4 Location 5

5 Manpower Requirement 6

6 Machinery and Equipments 6

7 Technical Know How 7

8 Plant Layout 8

9 Demand for Services 9

10 Supply for Raw Material -

11 Sources for Raw Material -

12 Major Competitors 10-12

13 Receipt and Payment Statement 13

14 Break-even analysis 14

15 Why we are interested in this Project 15-16

16 Tax Application 17-20

17 Legal Aspect 21-24

18 Conclusion 25
 PREAMBLE

FOOD VALLEY “Food on wheel” is a quick service counter concept, providing a blend of
Asian cuisine especially Indian traditional taste packaged in a rapid and friendly service to
the customers.

FOOD VALLEY will concentrate their marketing on two different sectors: the lunch
crowd and the takeout/delivery crowd.

The food industry is a thriving sector in the Indian economy and holds approximately 4% of
the Indian GDP. We should note that the food industry has seen in the past few years a slight
growth in the sales and revenues between the periods of 2005 to 2008. However, with the
economic downturn that the world is currently experiencing the IRFA (Indian Restaurant &
Foodservice Association) is predicting a decline of the industry between 2008 and 2009.
Despite the bleak outlook, research shows that people won’t curb their eating habits as much
as their retailing habits.

While there are a high number of restaurants in the region of Allahabad but except Kahnna
Shyam & Ajay international which offers Asian cuisine and none of the surrounding
competitors have the innovative menu items while there is a wide scope for the Asian cuisine
as it is the hot destination for tourists throughout the year as well as there is huge numbers of
students are also there who seeks such type of restaurants where they enjoy their few moment
and always ask for Asian cuisine.

FOOD VALLEY selling strategy will emphasize on innovative cuisine and exceptional customer
service. Since we are a smaller enterprise than our competitors and less restricted to corporate
image, we are much more flexible in our service system Providing individualistic delivery
method for the nearby offices would enable FOOD VALLEY to target a wider clientele. A
friendly and impactful staff will be primordial to insure recurring customers with seasonal
promotion; this combination would ensure successful operation.
PURPOSE OF STUDY

A student beginning the study of any subject is wise at the outset to seek a general understanding
of its nature, its dimension and its place in the scheme of the things. So the main thing which we
have to find out that is opportunity. We consider the business plan as restaurant owner. How the
overall operation of a business would run for making profit and convincing competitor in this
competitive era.

The study of business plan is very important to MBA students interested in employment
opportunities in business consultant, with a large diversified knowledge in specific field. The
understanding of business proposal, business location, consumer behavior, information systems,
supply chain, marketing strategies is very useful in managing a business. The purpose of study is
to enhance our entrepreneurial skill. Such a project always bound to think what to do and how to
do? If not to get satisfaction in job, then a thought which would come in your mind it would be
your own business. The idea of business plan must clarify and specified. The authenticity of this
project is that it evaluates your managerial and analytical skills. If you yourself don’t not involve
in this business, you can make your career as a consultant.

We have found that as “a restaurant owner we will get to know a lot of people. It is very social
business, with lots of invitations to social events and private parties. we will be on a first-name
basis with people who have power and prestige: the conductor of the symphony, the coach of the
football team, the mayor, television celebrities, and so on. When they are in our restaurant, we
are the one they want to talk to. It makes them feel important, so they will seek us out to become
our friend.” This information serve as a guide in helping us to make the decision. The
information provided is by no means meant to be all-inclusive, but it will, we hope, provide
some useful guidelines to help in our decision making. The purpose of the study also rotates
around the fact whether we ourselves are going to start the business or the other would take a
valuable suggestion. In both the case the purpose of the study would be fulfilled.
 GENERAL INFORMATION

BUSINESS NAME & QUEBEC REGISTRATION NUMBER

Food Valley “ Food on wheel”

Inc. – 1165800880

ENTREPRENEUR’S NAMES & COORDINATES

Sumeet Sourabh Ved Prakash

PGDMM PGDMM

START UP DATE
Oct. 1st , 2010

SECTOR OF ACTIVITY
Food Valley is a quick service Asian fusion restaurant specializing in spring rolls and delivering
a healthy option.

BUSINESS PROFILE

Our Vision

To create and cultivate a relevant generation – one man, one woman, one person and one
community at a time.

MISSION STATEMENT

The company's goal is that of a multi-faceted success. Our first responsibility is to the financial
well-being of the restaurant. We will meet this goal while trying to consider;

1) The effect of our products on the health and well being of our customers (and our staff),
2) The impact that our business practices and choices will have on the environment, and
3) The high quality of attitude, fairness, understanding, and generosity between management,
staff, customers, and vendors.

Awareness of all these factors and the responsible actions that result will give our efforts a
sense of purpose and meaning beyond our basic financial goals.

Our Values

Trust and Honesty

Generosity and Reciprocity
Family and Community
Creation and Innovation

OUR PRODUCT
It is and will always be, about quality. We are passionate about our products and it is through
ethical sourcing and environmentally friendly choices that we strive to improve and impact the
lives of the people we touch (our partners, our suppliers and our customers). We deeply care
about the legacy we leave behind.

OUR CONSCIENCE
It is not simply about success but about impacting and leaving a legacy. We believe that through
a high level of integrity and honesty and aligning with our own internal moral compass, we will
serve our conscience and become leaders in the business world and the community. Through this
standard we will become a value for our shareholders, our partners, our customers and our world.
This is Our Mission, this is Our Commitment, and this is Our World.

OUR CUSTOMERS
Through a smile or a laugh we believe we can uplift the quality of life of each and every one
of our customers – even if it is just for a moment. It is more than just serving and delivering a
product, it is about human connection.

MARKET
“Regardless of their prior activity, convenience and low average check size make quick
service restaurants and retail stores are the most popular destination for busy and hungry
Indian. These destinations account for 73% of total restaurant traffic. When people stop at a
restaurant on or from their way to work, 95% visit a quick-service restaurant while just 5%
stop at a full-service restaurant.” (Indian Restaurant Foodservices Association –IRFA-)
 PRODUCT OFFERING

COST ESTIMATION

WORKING HOURS/DAY = 12 Hrs. (10am-10pm)

WORKDING DAYS/YEAR = 300 Days.

WORKING CAPITAL REQUIREMENTS/DAY

(For 600 diets/day)

In the food Valley there are a number of items which are served.
Type of Food:-
(i) Vegetarian.
(ii). Chinese.
(iii) Cold Drinks/Snacks
(iv) Coffee/ Tea

(II) CHINESE DISHES

a. Chaumin
b. Veg-Rol
c. Mumoses

(III) SOUTH INDIAN DISHES

1. DOSA
2. Idli
3. Masala Dosa
4. Udpan
5. Curd Rice
6. Plain Rice

(IV) NORTH INDIAN DISHES:

1. VEGETABLE:
a) Cholla
b) Matar Paneer
c) Kofta Paneer
d) Allu Mutter
2. Rice
3. Kacheri 4.
5. Samosa
6. Dal etc.

RAW MATERIAL EXPENDITURE PER MONTHS Rs. 81,625/-

 THE BUSINESS
Industry Analysis

Although the restaurant industry is very competitive, the lifestyle changes created by modern
living continue to fuel its steady growth. More and more people have less time, resources, and
ability to cook for themselves. Trends are very important and FUSION is well positioned for the
current interest in lighter, healthier foods at moderate to low prices.

The Restaurant Industry Today

The food service business is the third largest industry in the country. It accounts for over 11520
billion annually in sales. The independent restaurant accounts for 15% of that total. The average
Indian spends 15% of his/her income on meals away from home. This number has been
increasing for the past seven years. In the past five years the restaurant industry has out-
performed the national GNP by 40%. The reasons given by the Folkney Report (November
2007) are………

1) Lifestyle changes,
2) Economic climate,
3) Increase of product variety.

There are 600 new restaurants opening every month and over 200 more needed to keep pace
with increasing demand.

Future Trends & Strategic Opportunities

The predicated growth trend is very positive both in short and long-term projections. Folkney
states again that as modern living creates more demands, people will be compelled to eat more
meals away from home. The DMR Industrial Report (April 1995) estimates this as high as 30%
over the next five years.

In 1999 The National Restaurant Association released the Foodservice Industry 2008 report that
forcasted how the industry might look in the year 2000. Some highlights from the panel's
findings:

"Consumers will spend a greater proportion of their food rupee away from home.
Independent operators and entrepreneurs will be the main source of new restaurant concepts.
Nutritional concerns will be critical at all types of foodservice operations, and food flavors
will be important.
Environmental concerns will receive increased attention."

The market consists of tourists, downtown workers, and students from various collages of
Knowledge park I, II, III.
.
There are about 14,53,700 approx people living and working in Allahabad. If just 15% of those
people visit to our restaurant then the FUSION will earn profit approx 25%.

In addition, demographics have shifted in recent years from traditional households (two parents
with children) to more non-traditional households; as a result, many adults feel they have less
free time. Consumer’s report that they are eating out more often in order to free up time normally
spent cooking, and uses that time to enjoy their families and to take advantage of other leisure
activities.

Our marketing efforts will focus on the following groups of people:

1. Downtown workers. This group is the second largest group of customers. The median age is
32, average household income is 20,0000to 250000/year.

2. Students. This includes high school students and college students from various collges of
Such as ishan, sharda, iimt, Galgotia, Bimtech, Loyd law collage, iilm and other colleges and lots
of renowned coaching institutes. The median age is 20.

3. Weekend shoppers. This group includes people who travel from rural areas and nearby towns
such Kaushambi, Pratapgarh, Mirzapur, Naini, Hanumanganj, The median age is 44, household
income is 85,000/year, and favourite activities include fishing, hunting, retailing gardening, and
spending time with family.
 THE LOCATION

Location is a critical consideration because it affects your ability to draw customers. It is

important that your site be visible, accessible, convenient and attractive to your market. How you
evaluate your location will depend on the type of restaurant you are planning and the type of
customers you hope to serve.

There are multiple restaurants within 3 km of the location of food valley only a few will be direct
competitors of food valley, because rest are out of ranze of our customers. Knowledge park is
one of the fastest growing area of Uttar Pradesh.. It is also one of the most green location in the
state. Besides having many prime educational institutions and organizations, the presence of key
government offices give city an important status.
 MANPOWER REQUIREMENT

HUMAN RESOURCES

SALARY & WAGES / MONTH

1. Cook 2 No. Rs. 5000/-
2. Helpers 5 No. Rs. 3000/-
3. Chowkidar 2 No. Rs. 5000/-
4. Driver 1 No. Rs. 5000/-
TOTAL Rs. 18000/-
 MACHINERY REQUIREMENT
KITCHEN EQUIPMENT:

1. Baking Oven electric Tripple Deck @ Rs. 50,000/- 1 No. 1 No. Rs. 50,000.00

2. Gas cooking range with oven(overall approx. size 1000x1000x850mm high (2 HP & 2
LP) 3 Nos. 3 No. Rs. 22,500.00.

3. Gas range type for Island cooking 2 HP & 2 LP business overall approx size
1500x1000x350 mm. 2 Nos. 2 No. Rs. 18,000.00

4. Gas range, economical design plate tope M.S. with summer plate 32 p burner, size
1500x750x850 2 Nos. Rs. 16,000.00.

5. Electric food Trolleys with trays with locking arrangements overall approximate size
900x800x1650 2 Nos Rs. 16,000.00

6. Goal Oven 3 Nos. Rs. 3,000.00

7. Pan rack trolly for backing open/Closed 2 Nos. Rs. 7,000.00

8. Electric Hot food Trolly with food containers, rice tray, size 1350x600x100 mm. 2 Nos.
Rs. 20,000.00

9. Bussing trolly overall approx. size750 x 450 x 850 mm 2 Nos. Rs. 10,000.00

10. Ice Carriers, S.S. with drain, overall approx. size 600x500x650mm 2 Nos.
Rs. 14,000.00

11. Not case service counter electric tope place working overall approx size 8' x 34' 1 No.

Rs. 10,800.00

12. Sand witch griller electric top bottom are heated double 14x14x14 electric load 5 KW 2
Nos Rs. 20,000.00

13. Electric Griller size 750 x 750 x 850 mm 2 Nos. Rs. 14,000.00

14. Tandoor 3 Nos. Rs. 3,600.00

15. Misc. Rs. 20,000.00

TOTAL Rs. 2,44,900.00

 OTHER FIXED ASSETS

1. Installation costs for water, electricity, fuel etc. Rs. 10,000.00

2. Wood work indoor, windows, almirah etc. Rs. 20,000.00
3. Architect's fee and other design work Rs. 15,000.00
4. Sign dishes glasses, crockery etc. Rs. 60,000.00
 UTILITIES AND OVERHEADS

1. Power Consumption of 1000 kw/hrs @ Rs. 4.50/kw hr. Rs. 4500.00

2. Water Consumption of 1000 KLs @ Rs. 3.00 per KL Rs. 3,000.00
3. Fuel Consumption Rs. 7,000.00
4. Repair & Maintenance Expenditure Rs. 5,000.00
5. Advertisement & Publicity on 1st year Rs. 20,000.00
6. Miscellaneous Expenditure. Rs. 12,000.00

TOTAL Rs. 1,84,000.00

 FIXED CAPITAL

1. LAND & BUILDING Rs. 2,50,000.00

2. PLANT & MACHINERY Rs. 2, 44,900.00
TOTAL Rs. 4, 94,900.00

TOTAL WORKING CAPITAL/MONTH

1. RAW MATERIAL Rs. 81625.00

2. SALARY & WAGES Rs. 18000.00
3. UTILITIES & OVERHEADS Rs. 1, 84,000.00
TOTAL Rs. 2,83,625.00

COST OF PROJECT

TOTAL FIXED CAPITAL Rs 778525.00

TOTAL CAPITAL INVESTMENT

TOTAL FIXED CAPITAL Rs. 34, 49,900.00

TOTAL WORKING CAPITAL FOR 2 MONTHS Rs. 8, 51,250.00

TOTAL Rs. 43, 01,150.00

COST OF PRODUCTION/ANNUM

1. Working Capital for 1 year Rs. 51, 07,500.00

2. Interest @ 12.00% on total capital investment Rs. 5, 16,138.00

3. Depreciation @ 10.00% on buildings Rs. 2, 09,000.00

4. Depreciation @ 25.00% on Plant and Machinery Rs. 61,225.00

5. Depreciation @ 20.00% on office equipment & furniture’s Rs. 40,000.00

TOTAL Rs. 59, 33,863.00

TURN OVER/ANNUM

1. Mughlai 35 diets/day (330 * 35) @ Rs.120/-per diet Rs. 13, 86,000.00

2. From Chinese dish 20 diets/day @ Rs.110/-per diet Rs. 7, 26,000.00

3. From Italian Dishes 15 diets/day Rs. 60/-per diet Rs. 2, 97,000.00

4. Cold Drinks Fruit Juice 500/day @ Rs.11/- Rs. 18, 15,000.00

5. North Indian Dishes 30 diets/day@ Rs. 80/-per diet Rs. 7, 92,000.00

6. By sale of assorted snaks, tea, coffee espresso etc.

350 cups day @ Rs.12/-per cup Rs. 13, 86,000.00

7. Plus Sales Tax Rs. 6, 00,000.00

TOTAL Rs. 70, 02,000.00

 PROFIT = Total Turnover - Cost Of Production

= 70, 02,000.00 - 59, 33,863.00

= 10, 68, 137.00

PROFIT SALES RATIO = Profit / Sales x 100

10, 68,137.00
= ------------------------------ X 100
70, 02,000.00

= 15.25 %

RESOURCES FOR FINANCE

1. Self raised capital

Sumeet sourabh Rs.500000.00

Ved Prakash Rs.500000.00

TOTAL Rs. 10,00,000.00

 TECHNOLOGY KNOW HOW

The great majority of developing countries including in India poor and suffer from
overpopulation and consequent higher rates of unemployment. The technology of advanced by
definition is capital –intensive, whereas the technology required in most developing countrieshas
to be employment-intensive. This is, therefore the basic contradiction. The transfer of capital-
intensive technology into developing countries is likely to worsen the employment position as
such technology would deny the unemployed the extremists, therefore, argue for an almost total
rejection of transferring western technology to Indian conditions. The technical exists not in
research laboratories, not in factories machines, nor in engineering data, drawing and patents. It
exists in the multi-disciplinary group consisting of scientists,engineers, accounts, managers,
operations and maintenance teams other groups who have together developed the technology. So,
in business, technology exists where it has beenassimilated and adapted successfully and is able
to undergo diffusion. In fact the assimilation,adaptation and diffusion of “know-how” results in
technology. The tech technical knowhow includes following components such as:

· Quality of the product.

· Specification of the raw materials inputs to various components.

· Details of the plant & machinery and their layout.

· Engineering and process flow chart, manufacturing instructions.

· Load diagrams and material balance.

· Control of operations, production and planning.

· Managerial practice and data processing.

· Scale of operations.

PLANT LAYOUT
OPERATION & PRODUCTION PLAN

LAYOUT & IMPROVEMENTS

The chosen location was selected for its high commercial and residential traffic situated at civil
lines the heart of Allahabad Key service industries include Education, telecommunications,
hotels, banking, media and tourism are there. FUSION has retained the services of traditional
architectural for the conceptual development of the interior design.

We will provide traditional look to our restaurant having lots of greenery around it and on terrace
so that customer will enjoy their eating with nature.

LAND & BUILDING

1. Vehical ( Bus) Rs. 1,50,000.00

2. Modification Coast Rs. 200000.00

TOTAL Rs. 3,50,000.00

DEMAND FOR THE PRODUCT

Today food business is one of the most profitable businesses in the market. Food is the most
necessary part of any individual who want a healthy life. A healthy body is only be possible by
the healthy the healthy and hygienic food and a healthy body possess a healthy soul.

The success rise of this industry is due to increase in living standard of people need to right food
at right time to spend life. In NCR region most of the medical, engineering and management
collages are situated, in which more than 1 to 1.5 lacs students and more than 5000 teaching and
nonteaching staffs doing their jobs. To complete their job they need to be full of energy for
which they need quality and quantity food at right time.

For such an wast population if we target at least 10% of the total population it means we can
have a crowed of 1000 to 1500 of the customers in the in our pocket. Who are ready to pay Rs.
30/ plate for lunch and also also spend Rs20 for snacks in the evening. If we calculate Rs 75000
worth of business per day. 75000*6 working day (450000) minus one working day equal to
450000 worth of business per month 1500000 of business per month*12= 1800000-1500000*3
month of holiday=1500000.

So we can see that 20 days of business in a month, in a year we do only 9 months of a business
we can easily do the total business of 1cr 15 lacs in which around minimum of 30% to 40% is
our profit through we know that in food business average income is around 45% after deducting
all the overhad costs, inventory cost and other costs. The pure profit of Rs. 4500000/- only.

Due to reasons a wast gap is been clearly seen in the market for these the new era of food market
is going up to the satisfy the potential customer.
 SUPPLY FOR RAW MATERIAL

Naveen mandi,
chak mundera,
near bamraulli,
Allahabad,211001,
Khullabad mandi,
Opposite khusorobag,
Allahabad, 211001

SUPPLIERS OF KITCHEN EQUIPMENT

EMBEE
RAKHIAL ROAD,
AHMEDABAD - 380021
PH. (91-79) 2770302,2775584,2776025,2746371
FAX.(91-79) 2748187
E-mail: embee@ad1.vsnl.net.in
web-site: www.embeeindia.com

CONTACT EMBEE IN LRAN

PH. (021) 850520,1,2
FAX. (021) 8752112
E-mail: zahabioun@mail.dci.co.ir

[COMPLETE COLOUR KITCHEN EQUIPMENTS, ROTARY SCREEN, ENGRAVING

SYSTEMS & SPARES FOR ROTARY PRINTING MACHINES]

K.S.J. Foods & Services Pvt. Ltd.

C/o. 7-87, Visnu Prasad Mahant Road
Vile Parle, Mumbai - 400057
Ph.: 573294
Pr. Biscuit Making Machine, Bakery Equipment, Confectionery Plant Flour Based,
Homogenizer, Kitchen Equipment, Pasta Making Plant

Marshal Engineers
140, Anna Salai, Saidapet
Chennai - 600015
Ph.: 2352863, 2353805
Fax: 2351783
Fact:. 5, Leo Industrial Estate
Pallikkaranai, Chennai – 601302,Ph.: 2353182

Exec. S. Lakshmanan
Pr. Bottle Washing Machine, Vacuum/Volumetric Filling Machine,
ROPP Sealing Machine, Labelling Machines, S.S. Slat/Belt
Conveyors, Filter Presses, S.S. Tank, Vessels, Stirrers, Sigma
Mixers, Ribbon/Paddle/Cone Mixers, Ointment/Paste Filler,

Jacketted Vessels with Stirrers

Sri Rajalaxmi Commercial Kitchen Equipments Pvt. Ltd.
57 (Upstairs), Silver Jubilee Park Road,
Bangalore - 560 002
Tel : 2221054/2239738
Fax : 080-2222047

Surinder Diesel Bhathi

G.T. Road Goraya - 144409
Dist. Jalandhar
Ph:. 1826-62515

BAKING OVEN

FDS Projects Pvt. Ltd.

987/2
GIDC Indl. Est.
Makarpura
Vadodara, Gujarat-390010
India
TEL : +91 (0) 265 643266
FAX : +91 (0) 265 642109
E-mail: navnit@fds.xeebdq.xeemail.ems.vsnl.net.in

Omega Furnace Industries

14
Savithri Compound
S M Rd.
Jalahalli (W)
Bangalore, Karnataka-560015
India
TEL : +91 (0) 80 3720285
FAX : +91 (0) 80 8391424
E-mail: omegaind@bgl.vsnl.net.in

Grovers Pvt. Ltd.

3F4, Shankardham
Sundervan Cmplx.
Page | 27
Off Lokhandwala Cmplx.
Andheri (W)
Mumbai, Maharashtra-400053
India
TEL : +91 (0) 22 6314574
FAX : +91 (0) 22 6313014
E-mail: vivek@groversequip.com

Commerce Corporation
A-22, Anurag
Shivram Soc.
Devidayal Rd.
Mulund (W)
Mumbai, Maharashtra-400080
India
TEL : +91 (0) 22 5676956
FAX : +91 (0) 22 5676956
E-mail: kumar812@hotmail.com

FMC Engg. Works Pvt. Ltd.

GB-3, Ground Flr.
Karma Stambh, LBS Marg
Vikhroli (W)
Mumbai, Maharashtra-400083
India
TEL : +91 (0) 22 5770115
FAX : +91 (0) 22 5113850
 MAJOR COMPETITORS

There are over one dozen restaurants in the civil lines area that sell food at similar prices.
Although this presents an obvious challenge in terms of market share, it also indicates the
presence of a large, strong potential. The newest competitors have made their successful entry
based on an innovative concept or novelty. FUSION will offer an innovative product in a
familiar style at a competitive price. Our aggressive plans of take-out and delivery will also give
us an advantage to create a good market share before the competition can adjust or similar
concepts appear.

Competitors:
1. Different partha walas
2. Vendors
3. Restaurants
4. Dabas
5. Tiffin services
6. Hotel Mess
7. College canteen
8. Fast food corners

Competitive Strategy

There are three major ways in which we will create an advantage over our competitors;

· Product identity, quality, and novelty

· High employee motivation and good sales attitude

· Innovative and aggressive service options.

Food valley will be the only restaurant among all the competition which focuses the entire menu
on healthy, low-fat cooking. Each of the competitors offers at least one "healthy" selection on
their menu. The target market will perceive FUSION as the destination location for healthy, low-
fat cooking. Once they have tried the restaurant, their experience will be reinforced by friendly,
efficient, knowledgeable service. Return and repeat business will be facilitated by accessible
take-out and delivery options.
Market and competition analysis:

As demand forecasting show the potential of attracting the customer from different segment it is
quit natural to have competition in the market. Our food vellay is not the first in the city there
are many players in the market and within the town but as they are situated in the residential
areas they are lacking in the space, parking area & other facilities to be provided to the
customers.

Customers need a healthy and fresh atmosphere to live and enjoy the food, our venture will not
only provide the services which are being provided by the competitor but we are also going to
provide them variety of cuisines .

Our facilities are—

1. Hygienic food
2. Easy availability of food
3. Discount coupons
4. Tiffin service
 BREAK EVEN POINT (B.E.P)

Fixed Costs of the plant are as under –

1. Interests Rs. 5, 16,138.00

2. Depreciation Rs. 3, 10,225.00
3. Salaries Rs. 6, 19,200.00
4. Overheads Rs. 7, 15,200.00
TOTAL Rs. 21, 60,763.00

FIXED COSTS
B.E.P. = ------------------------------ X 100
FIXED COSTS + PROFIT

21, 60,763.00
= ------------------------------ X 100
21, 60,763.00 + 12, 65,677.00

= 63.06 %