Kalinchowk Darshan Limited PDF

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Kalinchowk Darshan Limited
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E-mail: darshankalinchowk@gmail.com |URL: www.kalinchowkdarshan.com.np
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cfof]hgf k|efljt If]q bf]nvf lhNnfdf :yfoL a;f]af; ug]{ g]kfnL gful/sx?sf] nflu lgisfzg u/L afF8kmfF8 ul/Psf] / afFsL /x]sf]
!*Ü cyf{t ?= !),*),)),))).–-cIf/]kL b; s/f]8 cl; nfv ?k}+of dfq_/sd a/fa/sf] ?=!)).– c+lst b/sf !),*),))) lsQf
z]o/dWo] !,)*,))) lsQf j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?nfO{ -!) k|ltzt_ / %$,))) lsQf -% k|ltzt_ ;fd'lxs nufgL sf]if
x?sf] nflu afF8kmfF8 ul/Psf] / @!,^)) lsQf sDkgLdf sfo{/t sd{rf/Lx?nfO{ -@ k|ltzt_ 5'6\ofO{ afFsL *,(^,$)) lsQf ;fwf/0f
z]o/x? ;j{;fwf/0fsf nflu lwtf]kq btf{ tyf lgisf;g lgodfjnL, @)&# -rf}yf] ;+zf]wg ;lxt_ / lwtf]kq lgisfzg tyf afF8kmfF8
lgb]{lzsf, @)&$ -5}+7f}+ ;+zf]wg @)&(_ sf] clwgdf /xL ;j{;fwf/0fdf ;fj{hlgs lgisf;g ul/g]5 .
sDkgLsf] g]6jy{ tyf k|lt z]o/ cfDbfgLdf ePsf] jf:tljs tyf k|If]lkt cf};t k|ltkmn b]xfo adf]lhd /x]sf] 5 M
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k|lt z]o/ g]6jy{ -?=_ 76.19 80.68 78.15 89.34 96 105.2

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k|lt z]o/ cfDbfgL (10) (7.05) (2.53) 2.77 4.53 9.20

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;+lrt gfkmf÷-gf]S;fgL_ -?= xhf/df_ (36,198.35) (56,988.59) (64,458.65) (51,166.46) (23,973.53) 31,210.48 82,967.87
b/vf:t;fy k|lt ;fwf/0f z]o/ ?= !))÷— sf b/n] ztk|ltzt e'QmfgL dfu ul/Psf] .
nufgLdf x'g] hf]lvd ;DaGwL pb\3f]if0f M
lwtf]kqdf ul/g] nufgLdf hf]lvd x'g] ePsf]n] To:tf] hf]lvdsf] d"NofÍg ug]{ k|d'v bfloTj nufgLstf{ :jo+sf] x'g]5 / lwtf]kqsf] lgisf;g d'Non] ;"lrs/0f
kZrft lwtf]kq ahf/df x'g] sf/f]jf/ d"No ghgfpg] x'Fbf o; ljj/0fkqsf] bkmf u=*= df pNn]lvt hf]lvdx? ;d]tsf] cWoog u/]/ dfq nufgL ;DaGwL lg0f{o
lng ;'emfj ul/G5 .
lgodg lgsfosf] hjfkmb]xLtf g/xg] pb\3f]if0f M
o; ljj/0fkqdf pNn]lvt lwtf]kq ;fj{hlgs lgisf;gsf nflu tof/ ul/Psf] xf] . o; ljj/0f-kqnfO{ lwtf]kq ;DaGwL P]g, @)^# adf]lhd g]kfn lwtf]kq
af]8{n] :jLs[tL k|bfg u/]sf] 5 . o;/L af]8{n] ljj/0fkq :jLs[tL k|bfg u/]sf] sf/0faf6 s;}n] klg g]kfn lwtf]kq af]8{, sDkgL /lhi6«f/sf] sfof{no jf ;Da4
cGo lgodg lgsfon] ljj/0fkqdf plNnlvt s'/fsf] ;Totf jf lgisf;gstf{ jf cfof]hgfsf] cfly{s ;Ifdtfsf] af/]df s'g} k|sf/sf] k|Tofe"t u/]sf] jf lhDd]jf/L
lnPsf] dflgg] 5}g .
o; ljj/0f–kq dfkm{t cfof]hgf k|efljt If]qsf afl;Gbfx?nfO{ / sDkgLdf sfo{/t sd{rf/Lx?nfO{ laqmL ljt/0f ul/g] z]o/x? ;a{;fwf/0fnfO{ lgisfzg u/]sf]
z]o/ afF8kmfF6 ePsf] ldltn] tLg aif{ k"/f geP;Dd c? s;}nfO{ laqmL jf xs x:tfGt/0f ug{ kfOg] 5}g .
O:o'/ /]l6Ë ;DaGwL ljj/0f M
o; ljj/0fkq cg';f/ lgisfzg ul/g] ;fwf/0f z]o/sf] nflu lwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# -rf}yf} ;+zf]wg ;lxt_ df ePsf] Joj:yf adf]lhd
sDkgLsf] O:o"/ /]l6Ë u/fpg' kg]{ ePsf]n] qm]l86 /]l6Ë lgodfjnL, @)^* sf] lgod # adf]lhd g]kfn lwtf]kq af]8{af6 cg'dlt k|fKt qm]l86 /]l6Ë ;+:yf s]o/
/]l6Ë g]kfn ln=,sdnfbL, sf7df08f}+af6 O:o"/ /]l6Ë u/fO{ dfr{ @@, @)@@ -ldlt @)&*÷!@÷)*_ ut] "CARE-NP BB+ (Is) [pronounced Double
B plus (Issuer)]" k|df0fkq k|fKt u/]sf] 5 . "CARE-NP BB+ (Is) [pronounced Double B plus (Issuer)]" n] sDkgLsf] bfloTj jxg ug]{
Ifdtfdf dWod:t/sf] hf]lvd /x]sf] (Moderate risk of default regarding timely servicing of financial obligations) eGg] hgfpFb5 . ;f]
u|]l8Ë sf] a}Btf calw Ps aif{ /xg] 5 . s]o/ /]l6Ë g]kfn ln= n] CARE-NP AAA (Is) b]lv CARE-NP D (Is) ;Ddsf] /]l6Ë k|bfg ub{5 . h;df
u|]8 CARE-NP AAA (IS) n] alnof] cfwf/ hgfpFb5 eg] u|]8 CARE-NP D (IS) n] sdhf]/ cfwf/x? hgfpF5 . ;f] ;DaGwL ljj/0f o;
ljj/0fkqsf] bkmf u=@@ -6_ df pNn]v ul/Psf] 5 .
O:o'/ /]l6Ë u|]8 k|bfg u/]sf] ldlt M @)&*.!@.)* -tbg';f/ dfr{ @@, @)@@_ axfn /xg] cjlw @)&(.!@.)$ -tbg';f/ dfr{ !*,@)@#_
g]kfn lwtf]kq af]8{af6 ljj/0fkq :jLs[t ePsf] ldlt M @)&(÷)&÷@$ sDkgL /lhi6«f/sf] sfof{nodf ljj/0fkq btf{ ePsf] ldlt M @)&(÷)&÷#)
lwtf]kq lgisfzg v'Nnf x'g] ldlt M
lgisf;g v'Nnf x'g] ldlt M @)&(÷!)÷)# lgisf;g aGb x'g] ldlt -l56f]df_ M @)&(÷!)÷)^
lgisf;g aGb x'g] ldlt -l9nf]df_ M @)&(÷!)÷!&
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Email : info@nabilinvest.com.np URL: www.nabilinvest.com.np
o; æljj/0f–kqÆ lwtf]kq lgisf;g tyf laqmL k|aGwssf] website: www.nabilinvest.com.np, sflnGrf]s bz{g lnld6]8sf] website:
www.kalinchowkdarshan.com.np / g]kfn lwtf]kq af]8{sf] website: www.sebon.gov.np af6 ;d]t x]g{ ;Sg' x'g]5 .
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v=! ljj/0fkqdf k|of]u ePsf k|fljlws tyf cGo zAbfjnLsf] kl/efiffM
s_ æljj/0fkqÆ eGgfn] sDkgL P]g, @)^# sf] bkmf @# adf]lhd / lwtf]kq ;DaGwL P]g, @)^# sf] bkmf #) adf]lhd
k|sflzt ljj/0fx? ePsf] k'l:tsf ;Demg' k5{ .
v_ ælwtf]kq lgisf;g tyf laqmL k|aGwsÆ eGgfn] glan OGe]i6d]G6 a}+lsË lnld6]8, gS;fn, sf7df08f}+nfO{ ;Demg' k5{
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u_ ælwtf]kqÆ eGgfn] ;+ul7t ;+:yfn] hf/L u/]sf] z]o/, :6s, af]08, l8j]Gr/, l8j]Gr/ :6s jf ;fd'lxs nufgL
of]hgf ;DjGwL k|df0f kq jf g]kfn ;/sf/n] hf/L u/]sf] jf g]kfn ;/sf/sf] hdfgtdf ;+ul7t ;+:yfn] hf/L
u/]sf] C0fkq, artkq jf a08 ;Demg'k5{ / ;f] zAbn] lwtf]kqahf/ dfkm{t sf/f]af/ x'g ;Sg] jf x:tfGt/0f x'g
;Sg] elg af]8{n] tf]lslbPsf] cGo lwtf]kq jf To:tf] lwtf]kq vl/b, laqmL jf ljlgdo ug]{ ;Sg] clwsf/kq
;d]tnfO{ hgfp+5 .
3_ æ;+ul7t ;+:yf÷sDkgLÆ eGgfn] lgisf;gstf{ sDkgL sflnGrf]s bz{g lnld6]8, kz'klt lehg lk+unf:yfg,
uf}zfnf, sf7df08f}nfO{ ;Demg' k5{ .
ª_ æ;+sng s]Gb|Æ eGgfn] ;fj{hlgs lgisf;g -cfof]hgf k|efljt If]qsf afl;Gbfx?_ sf] nflu tof/ ul/Psf]
ljj/0f-kq / b/vf:t kmf/d k|fKt ug{ ;lsg] tyf b/vf:t kmf/d ;fy /sd a'emfpg ;lsg] u/L tf]lsPsf
;+sng s]Gb|x?nfO{ ;Demg' k5{ .
r_ ælgisf;g a}+sÆ eGgfn] lgisf;g tyf laqmL k|aGws;Fu ;Demf}tf u/L lwtf]kq lgisf;gsf] qmddf /sd hDdf
ug{ lhDd]jf/L lng] afl0fHo a}+s tyf /fli6«o :t/sf] ljsf; a}+snfO{ ;Demg' k5{ .
5_ ælgodg lgsfoÆ eGgfn] g]kfn lwtf]kq af]8{ / sDkgL /lhi6«f/sf] sfof{nonfO{ ;Demg' k5{ .
h_ æ;+:yfks, ;+rfns, sfo{sf/L k|d'v tyf Aoa:yfkgÆ eGgfn] sflnGrf]s bz{g lnld6]8sf] ;+:yfks, ;+rfns,
sfo{sf/L k|d'v tyf Aoa:yfkgnfO{ ;Demg' k5{ .
em_ æaf]8{Æ eGgfn] g]kfn lwtf]kq af]8{nfO{ ;Demg' k5{ .
`_ æ:yflgojf;LÆeGgfn] cfof]hgf k|efljt If]q cyf{t bf]nvf lhNnfdf :yfoL a;f]jf; ug]{ g]kfnL gful/snfO{
hgfpF5 .
0f_ æsDkgLsf sd{rf/Lx?Æ eGgfn] sflnGrf]s bz{g lnld6]8sf kbflwsf/Lx? nufotsf sd{rf/Lx?nfO{ ;Demg' kb{5 .
v=@=ljj/0f-kq tyf b/vf:t kmf/d k|fKt ug]{ / b/vf:t ;fy /sd a'emfpg] :yfg M
l;=g+= ljj/0fkq k|fKt ug]{ :yfgsf] gfd / 7]ufgf
!= gljn OGe]i6d]06 a}+lsË lnld6]8, gS;fn, sf7df8f}+ / j]j;fO6: www.nabilinvest.com.np
;fy}, lgisfzgstf{ sDkgLsf] j]e;fO6 www.kalinchowkdarshan.com.np Pj+ g]kfn lwtf]kq af]8{sf] j]e;fO6
www.sebon.gov.np af6 ;d]t o; lgisf;gsf] nflu :jLs[t ljj/0fkq x]g{ ;Sg' x'g]5 .
;j{;fwf/0fsf] nflu b/vf:t kmf/fd k|fKt ug]{ / b/vf:t a'emfpg] :yfgx?
g]kfn lwtf]kq af]8{af6 :jLs[tL k|fKt u/]sf ;Dk'0f{ l;–cf:jf (C-ASBA) ;b:o a}+s tyf ljlQo ;+:yfx? / ltgsf
tf]lsPsf zfvf sfof{nox? tyf l;l8P; P08 lSnol/Ë lnld6]8af6 lgdf{0f ul/Psf] ;ˆ6j]o/ æd]/f] z]o/æ cgnfOg k|of]u
u/L l;–cf:jf k|0fnL dfkm{t cfj]bg lbg ;lsg]5 .
1
u=!=lwtf]kq lgisf;g tyf laqmL k|aGwssf] pb\3f]if0f M
xfdLnfO{ lgisf;gstf{ ;+ul7t ;+:yf tyf o;sf ;+:yfks÷;+rfnsx?n] pknAw u/fPsf] ljj/0f tyf hfgsf/Lx?sf] cfwf/df
o; ;+:yfsf] Aoa:yfksLo, k|fljlws / cfly{s kIfsf] ljZn]if0ffTds cWoogaf6 xfdL ;Gt'i6 x'g'sf] ;fy} ljj/0fkqdf n]lvPsf
cfly{s ljj/0fx? / cGo hfgsf/L tYout, k"0f{ / ;xL b]lvPsf]n] nufgLstf{x?nfO{ nufgL ;DaGwL lg0f{o lng d2t k'Ug] s'/f
k|lt ljZj:t eO{ xfdLn] of] ljj/0fkq :jLs[tLsf nflu g]kfn lwtf]kq af]8{df P]g tyf lgodfjnL cg'?ksf] of]Uotf k'u]sf]
k|lta4tf kq (Due Diligence Certificate) k|:t't u/]sf 5f}+ .
u=@=;+ul7t ;+:yfsf] pb\3f]if0f M
u=@=s=;+rfnssf] lhDd]jf/L tyf hjfkmb]lxtf ;DaGwL pb\3f]if0f M

of] ljj/0f-kq xfdLn] k'g/fjnf]sg u/L cg'df]bg u/]sf] x'gfn] o; ljj/0fkqdf pNn]v ul/Psf ljj/0f tyf hfgsf/Lx?sf ;fy}
lgisf;g tyf laqmL k|aGwsnfO{ lbPsf] ljQLo ljj/0f, cGo ljj/0f, hfgsf/L tyf sfuhftx?sf ;Totf / z'4tf k|lt /
lwtf]kq btf{ tyf lgisf;g cg'dlt k|of]hgsf nflu g]kfn lwtf]kq af]8{df k]z ul/Psf] ljj/0f-kq / ;f] ;Fu ;DalGwt cGo
ljj/0f tyf hfgsf/Lx?sf] z'4tf tyf ;Totf k|lt o; ljj/0f-kqdf x:tfIf/ ug]{ xfdL ;+rfnsx? AolQmut jf ;fd"lxs ?kdf
hjfkmb]lxtf axg ub{5f}+ / lwtf]kq lgisf;gsf nflu tf]lsPsf zt{ tyf cfjZostfx?sf] ;DaGwdf cfjZos hfgsf/L lnO{
xfdL pb\3f]if0f ub{5f}+ sL tf]lsPsf zt{ tyf cfjZostfx? ;a} kfngf u/]sf 5'÷5f}+ / nufgLstf{x?nfO{ nufgL ;DaGwL
;";'lrt lg0f{o lng cfjZos s'g} ljj/0f, ;"rgf tyf hfgsf/Lx? n'sfPsf 5}gf}+ .
u=@=v=;+ul7t ;+:yfsf] hjfkmb]lxtf ;DaGwL pb\3f]if0f M

o; sflnGrf]s bz{g lnld6]8n] k|sflzt u/]sf] ljj/0f-kq,;fj{hlgs k|:tfj, lj1fkg jf cGo s'g} ;"rgfdf pNn]v ePsf
ljj/0fx? afx]s ;+ul7t ;+:yfsf] af/]df k|sflzt cGo s'g} ;"rgf jf hfgsf/Lsf] hjfkmb]xLtf ;+ul7t ;+:yfdf g/xg] / To:tf]
;"rgf, hfgsf/L jf ljj/0fsf] cfwf/df nufgL u/]df ;f] sf] hf]lvd nufgLstf{ :jo+n] axg ug'{kg]{5 .
u=@=u=lgodg lgsfosf] lgodg Aoa:yfsf] kfngf ;DaGwL pb\3f]if0f M

k|rlnt sfg"g cg';f/ cfkm\gf] pBf]u÷Joj;fo÷;]jf;Fu ;DalGwt lgodg lgsfo -h:t}M sDkgL /lhi6«f/sf] sfof{no, g]kfn
lwtf]kq af]8{ cflb_ sf] ;fj{hlgs lgisf;g tyf cGo lgodg Joj:yf tyf lgb]{zgx?sf] kfngf u/]sf] s'/fsf] pb\3f]if0f ub{5f} .
;fy} ;fj{hlgs lgisf;g k|of]hgsf] nflu tof/ ul/Psf] ljj/0f-kq / ;f] df pNn]lvt ;Demf}tf jf cGo ljj/0fx? g]kfn
lwtf]kq af]8{ / sDkgL /lhi6«f/sf] sfof{nodf k]z u/]sf 5f}+ . ;fy} sDkgLn]] sDkgL /lhi6«f/ sfof{nodf sDkgL P]g, @)^#
adf]lhd k]z ug'{ kg]{ cf=j= )&&÷)&* ;Ddsf] ljj/0fx? k]z u/]sf] x'gfn] pQm cf=j= ;Dd sDkgL cWofjlws /x]sf] hfgsf/L
u/fpFb5f}+ .
u=@=3=;+:yfks, ;~rfns tyf sfo{sf/L k|d'v ;DaGwL pb\3f]if0f M

!= o; sDkgLsf] ;+:yfks, ;~rfns jf k|d'v sfo{sf/L clws[t shf{ ;"rgf s]Gb|sf] sfnf] ;"rLdf /x] sf 5}gg\ .
@= o; sDkgLsf] ;~rfns jf k|d'v sfo{sf/L clws[t sfnf] ;"rLdf /x]sf] cGo ;+ul7t ;+:yfdf ;~rfns jf sfo{sf/L k|d'v
/x]sf 5}gg\ .
#= ;fj{hlgs lgisf;g dfkm{t ;j{;fwf/0faf6 kF"hL ;+sng u/L j]kQf ePsf jf ;~rfngdf g/x]sf jf nufgLstf{x?sf] lxt
ljk/Lt x'g] sfo{ u/]sf] ;+ul7t ;+:yfsf] ;~rfns jf k|d'v sfo{sf/L clws[t o; sDkgLsf] ;+rfns jf k|d'v sfo{sf/L
clws[t 5}gg\ .
$= lwtf]kq ;DaGwL sfg"g ljk/Lt sfo{ u/]sf] sf/0f lwtf]kq ahf/ jf lwtf]kq Joj;foLsf] cg'dltkq vf/]h ePsf] bz aif{
k"/f gePsf] ;+ul7t ;+:yfsf] ;~rfns jf k|d'v sfo{sf/L clws[t o; sDkgLsf] ;~rfns jf k|d'v sfo{sf/L clws[t
5}gg\ .
%=o; sDkgLsf] ;~rfns jf k|d'v sfo{sf/L clws[t lwtf]kq ;DaGwL P]gsf] bkmf !)* adf]lhd ;+rfns jf k|d'v sfo{sf/L
cof]Uo /x]sf 5}gg\ .
2
u=# ;+ul7t ;+:yf ;DaGwL hfgsf/L M
u=#=s= ;+ul7t ;+:yfsf] k[i7e"ld
-s_ ;+ul7t ;+:yfsf] gfd M sfln~rf]s bz{g lnld6]8 (Kalinchowk Darshan Limited)
-v_ s'g P]g cGtu{t :yflkt ePsf] ;f] s'/f M sDkgL P]g, @)^# cGtu{t :yflkt .
-u_ ;+:yfsf] /lhi68{ 7]ufgf M o; sDkgLsf] /lhi68{ sfof{no sf7df08f} lhNnf sf=d=g=kf=j8f g+=(,
kz'klt lehg lk+unf:yfg uf}zfnf, sf7df08f}+df /x]sf] 5 . ;DalGwt lgsfosf] :jLs[lt lnO{
sDkgLn] cfj:ostf cg';f/ /lhi68{ sfof{no :yfgfGt/0f ug{ / :jb]z tyf ljb]zdf ;d]t zfvf,
pkzfvf jf cGo sfof{nox? vf]ln sf/f]af/ ug{ ;Sg]5 .
-3_ sf/f]af/ ug]{ d'Vo :yfg M o; sDkgLsf] sf/f]jf/ ug]{ d'Vo :yfg sfln~rf]s ufFpkflnsf, j8f g+= !
s'/L bf]nvf /x]sf] 5 .
-ª_ ;+ul7t ;+:yfsf] :yfkgf sfnb]lv xfn;Ddsf] ;+lIfKt Oltxf; / ;+ul7t ;+:yfsf] d'Vo p2]Zox?M
sDkgLsf] :yfkgfsfn b]lv xfn;Ddsf] ÷;+lIfKt Oltxf; b]xfo adf]lhd /x]sf] 5 .
-!_ sfln~rf]s bz{g lnld6]8 k|rlnt sfg'g adf]lhd ldlt @)^#÷)$÷!& ut] sfln~rf]s
xfO8«f]kfj/ k|f=ln=sf] gfdjf6 btf{ ePsf]df ldlt @)^(÷!)÷@^ ut] sfln~rf]s bz{g k|f=ln=sf]
gfd df btf{ ePsf] / ldlt @)&!÷!)÷)^ ut]b]lv k|fOe]6 sDkgLaf6 klAns sDkgLsf] ?kdf
kl/0ft eO{ ldlt @)&!÷!)÷)* ut]b]lv sfln~rf]s bz{g lnld6]8sf] gfddf sDkgL /lhi6«f/sf]
sfof{nodf btf{ ePsf] 5 .
-@_ sDkgL dfkm{t s]a'nsf/, xf]6n tyf l/;f]6{ / PDo"hd]G6 kfs{ nufotsf kl/of]hgf ;~rfng ug]{
u/L ldlt @)&@÷)*÷@% ut] g]kfn ;/sf/, pBf]u ljefuaf6 :jLslt k|fKt ePsf] xf] .
-#_ s'/L vs{ If]qsf] @=$# x]S6/ jg ldlt @)&#÷)^÷!! ut] u'7L ;+:yfg ;+usf] ;Demf}tf adf]lhd
@% jif{sf] nflu lnhdf lnOPsf] 5 h'g sfln~rf]s bz{g lnld6]8sf] cg'/f]wdf csf]{ sfo{sfnsf]
nflu gljs/0f ug{ ;lsG5 .
-$_ s]a'nsf/ kl/of]hgf ;~rfngsf nflu cfjZos kg]{ ;Dk"0f{ ef}lts ;+/rgfx? lgdf{0f eO{;s]sf]
5g\ .
-%_ ldlt @)&% sflt{s !& ut]b]lv Joj;flos ?kdf s]a'nsf/ ;~rfngdf NofO{;s]sf] 5 .
-^_ o; kl/of]hgf ;~rfng :yndf cfGtl/s tyf afx\o ko{6sx?sf] pNn]Vo dfqfdf e|d0f x'g]
u/]sf] 5 .
-&_ cf}ift b}lgs Ps xhf/ b]lv kGw| ;osf] xf/fxf/Ldf cfGtl/s tyf afx\o ko{6sx? o; ko{6sLo
If]qdf e|d0f ug{ tyf 3'Dg cfpg] u/]sf 5g .
-*_ kl/of]hgf;Fu ;DjlGwt ljj/0f tyf cg'kftx? M
kl/of]hgfsf] ;fwf/0f nufgL lkmtf{ x'g] cjlw &=!( jif{
kl/of]hgfsf] l8:sfp06df nufgL lkmtf{ x'g] cjlw !) jif{
Internal Rate of Return (IRR) !^Ü
3
l8:sfpG6
sf] cfwf/ ;+roL gub l8:sfpG6]8 gub ;+roL l8:sfpG6]8
cf=j= jif{ @ !!% gub alxu{dg gub k|jfx v'b gub k|jfx k|jfx k|jfx gub k|jfx
2072-73 0 1 (3,742,282) (3,742,282) (3,742,282) (3,742,282) (3,742,282)
2073-74 0 1 (108,411,584) (108,411,584) (112,153,867) (108,411,584) (112,153,867)
2074-75 0 1 (204,288,499) (204,288,499) (316,442,365) (204,288,499) (316,442,365)
2075-76 0 1 (109,713,367) (109,713,367) (426,155,732) (109,713,367) (426,155,732)
2076-77 0 1 (20,580,169) (20,580,169) (446,735,902) (20,580,169) (446,735,902)
2077-78 0 1 (4,444,097) (4,444,097) (451,179,999) (4,444,097) (451,179,999)
2078-79 1 0.9009 (5,632,046) 28,045,068 22,413,023 (428,766,976) 20,191,912 (430,988,086)
2079-80 2 0.8116 (150,400,000) 42,279,340 (108,120,660) (536,887,635) (87,753,153) (518,741,239)
2080-81 3 0.7312 (89,654,288) 71,590,804 (18,063,483) (554,951,119) (13,207,863) (531,949,102)
2081-82 4 0.6587 (99,237,137) 134,495,063 35,257,926 (519,693,193) 23,225,488 (508,723,614)
2082-83 5 0.5935 (5,000,000) 147,082,671 142,082,671 (377,610,521) 84,319,150 (424,404,464)
2083-84 6 0.5346 161,790,939 161,790,939 (215,819,583) 86,500,043 (337,904,422)
2084-85 7 0.4817 177,970,032 177,970,032 (37,849,550) 85,720,763 (252,183,659)
2085-86 8 0.4339 195,767,036 195,767,036 157,917,485 84,948,504 (167,235,155)
2086-87 9 0.3909 215,343,739 215,343,739 373,261,225 84,183,202 (83,051,953)
2087-88 10 0.3522 236,878,113 236,878,113 610,139,338 83,424,795 372,842
2088-89 11 0.3173 260,565,924 260,565,924 870,705,262 82,673,220 83,046,062
2089-90 12 0.2858 286,622,517 286,622,517 1,157,327,779 81,928,416 164,974,479
2090-91 13 0.2575 315,284,769 315,284,769 1,472,612,548 81,190,322 246,164,801
2091-92 14 0.2320 346,813,245 346,813,245 1,819,425,793 80,458,878 326,623,679
2092-93 15 0.2090 381,494,570 381,494,570 2,200,920,363 79,734,023 406,357,702
2093-94 16 0.1883 419,644,027 419,644,027 2,620,564,390 79,015,699 485,373,401
2094-95 17 0.1696 461,608,430 461,608,430 3,082,172,820 78,303,846 563,677,247
2095-96 18 0.1528 507,769,273 507,769,273 3,589,942,093 77,598,406 641,275,653
2096-97 19 0.1377 558,546,200 558,546,200 4,148,488,293 76,899,321 718,174,974
4
sDkgLsf] k|aGwkqsf] bkmf $ cg';f/ sDkgLsf] d'Vo p2]Zox¿ b]xfo adf]lhd /x]sf 5g\M
-s_ s]jnsf/, kmg kfs{, lrN8]g kfs{, PDo"hd]G6 kfs{, xf]6n, l/;f]6{ lgdf{0f ul/ ;+rfng ug]{ u/fpg]
;fy} r]o/ lnˆ6 (Chair Lift) ;d]t ;+rfng ug]{ u/fpg] .
-v_ /Hh'dfu{ tyf s]jnsf/sf] nflu cfjZos kg]{ d]lzg]/L ;fdfg, oGq, pks/0f tyf cf}hf/x?
:jb]zd} vl/b ug]{ jf ljb]zaf6 l´sfO{ ljlqm ljt/0f ug]{ u/fpg] .
-u_ /Hh'dfu{ tyf s]jnsf/ ;+rfns ug{sf nflu cfjZos kg]{ k|of]uzfnf, js{zk, h8fg u[x,
tflnd cflb ;+rfng ug]{ u/fpg] .
kl/of]hgfsf] xfnsf] cj:yf nufot ljleGg sfo{x¿sf] @)&( cfiff9 d;fGt;Ddsf] k|ult ljj/0f M
qm=;+= kl/of]hgfsf] ljj/0f÷sfo{ xfnsf] cj:yf

! s]a'nsf/ ;~rfng ug]{ . ldlt @)&% sflt{s !& ut]b]lv g} ljlwjt ?kdf
;~rfngdf cfO{;s]sf] .
@ xf]6n÷l/;f]6{ ;~rfng ug]{ . l5§} ;~rfng u/L cfGtl/s tyf afx\o
ko{6sx?nfO{ ;]jf ug{] nIo /fv]sf] 5 .
# kmg kfs{, lrN8]g kfs{,PDo"hd]G6 l5§} ;~rfng u/L cfGtl/s tyf afx\o
kfs{ ;~rfng ug]{ . ko{6sx?nfO{ ;]jf ug{] nIo /fv]sf] 5 .
-r_ ;+ul7t ;+:yfsf] s'g} ;xfos sDkgL ePdf ;f] ;xfos sDkgLsf] gfd, Oltxf; / To;sf d'Vo
p2]Zox?sf ;fy} To;df ePsf] nufgLsf] c+z -k|ltztdf_ M ;f] gePsf]
-5_ cGo ljj/0fx? M M

-!_ ;+ul7t ;+:yfn] pTkfbg ug]{ j:t' jf k|bfg ug]{ ;]jfx? M o; sDkgLn] k|bfg ug]{ d'Vo
;]jfx?df ko{6g;Fu ;Da4 s]a'nsf/ Joj;fo;Fu ;DalGwt dgf]/~hgfTds / ko{6sLo
lqmofsnfkx? /x]sf 5g\ .
-@_ k|of]u ePsf] jf ul/g] k|ljlw M o; sDkgLn] s]a'nsf/ kl/of]hgf ;~rfngsf nflu o'/f]lkog
;'O{; k|ljlw k|of]udf NofOPsf] 5 .
-#_ s'g} a||fG8g]d, k|ltlnlk clwsf/, 6«]8dfs{, Ohfhtkq, k|fljlws ;xof]u ;Demf}tf / ;+ul7t
;+:yf;Fu ;DalGwt af}l4s ;DklQ xs clwsf/ M o; sDkgLsf] sfln~rf]s bz{g lnld6]8sf]
gfddf 6]«8dfs{ btf{ ePsf] 5 .
-$_ ;+ul7t ;+:yfn] cf]u6]sf] ahf/ If]q M sDkgLn] ko{6sLo, wfld{s / ljleGg dgf]/~hgfTds
lqmofsnfkx? ;~rfngdf NofO{ cfGtl/s tyf afXo ko{6sx?nfO{ cfs{lift ul/ cfkm"nfO{ Ps
pTs[6 ko{6sLo uGtJo :ynsf] ?kdf ljZj ;fd' kl/lrt u/fPsf] 5 . o; sDkgLn]
;~rfngdf NofPsf] s]a'nsf/ kl/of]hgf dfkm{t ljleGg ko{6sx?nfO{ s]a'nsf/ ;]jf lbg'sf]
;fy} #,*$@ ld6/sf] prfO{df cjl:yt sfln~rf]s eujtLsf] bz{g dfkm{t wfld{s cf:yf /
ljZjf;nfO{ ;+/If0f u/L ;]jf k|bfg ub} cfPsf] 5 . ko{6sLo bi6Lsf]0fn] c;fWo} pko'Qm
7flgPsf] sfln~rf]s / s'/L If]q c;fWo} /dl0fo / pRj :yfg ;d]t ePsf]n] ljleGg
lxd>[vnf tyf lxdfn, kxf8sf] b[zofjnf]sg, lxpFsf] l:s v]n, ljleGg h/La'6L tyf u'/fF;sf]
cWoog cg';Gwfg nufPt 6«]lsËsf] ;fy} s]jnsf/ r9]/ dHhflng] wfld{s tyf jftfj/0fLo
ko{6sx?sf] uGtJosf] ?kdf ljslzt sfln~rf]s If]qdf eujtL bz{g tyf ;dofg's'n klj{tg
x'g] To; If]qsf] jftfj/0fn] hf] sf]lx nfO{ dGqd'Uw agfPsf] 5 . o;} sf/0fn] jif{]gL cfpg]
wfld{s Pj+ cGo ko{6sxsf] ;+Vofdf s]jnsf/ ;+rfng kl5 cToflws a[l4 ePsf] sf/0f g]kfn
;/sf/ ko{6g, ;F:s[tL tyf gful/s p8\8ug dGqfnon] cf=j= @)&% ;fnsf] Best Tourist
Destination Award sfln~rf]s bz{g lnld6]8nfO{ k|bfg u/]sf] 5 . g]kfn ;/sf/ ko{6g
dGqfno, ko{6g ljefun] d'n'ssf !)) j6f k|d'v uGtJo :yfgx? dWo] sfln~rf]s eujtLsf]
dlGb/ If]qnfO{ klg ;dfj]z u/]sf] sf/0f klg of] If]q ko{6sx?sf] /f]hfO{df kg]{ u/]sf]n] cGo
lqmofsnfkx? ;~rfngdf NofO{ yk pTs[i6 ko{6sLo uGtJo :ynsf] ?kdf lrgfpg] nIo
/flvPsf] 5 .
-%_ gofF pTkfbg tyf ;]jf ;DaGwL of]hgfM o; sDkgLn] s]a'nsf/sf] Ifdtf j[l4 ug]{ tyf lro/
lnkm\6sf] lgdf0f{ ug]{, xf]6n÷l/;f]6{ ;~rfngdf NofO{ l:s v]n h:tf ;fxl;s v]n tyf
5
lqmofsnfkx?af6 cfGtl/s tyf afXo ko{6sx?nfO{ cfsif{0f ub}{ ;]jf k|bfg ug]{ of]hgf /x]sf]
5.
-^_ pTkfbg tyf ;]jfsf] k|d'v ahf/ / To;sf] dfu / laqmL ljt/0fsf] tl/sf M o; sDkgLsf]
k|d'v ahf/ eg]sf] g]kfn nufot ljb]zdf /x]sf cfGtl/s tyf afXo ko{6sx? /x]sf] 5 . o;
sDkgLn] /fli6«o tyf cGt{/fli6«o ko{6sx?nfO{ cfslif{t u/L Psrf]6L k'Ug} kg]{ ko{6sLo
uGtJosf] ?kdf :yflkt u/]]sf] 5 . cf=j @)&(÷*) df o; sDkgLn] Ps nfv eGbf dfly
ko{6sx?nfO{ o; If]qdf cjnf]sg Pj+ bz{gsf] nfuL cfudg u/fpg] nIo lnPsf] 5 . nIo
xfl;n ug{ vfF8L rf}/ b]lv rl/sf]6 ;Ddsf] af6f] tyf rl/sf]6 b]lv s'/L sfln~rf]s ;Ddsf]
af6f] ;'wf/, ko{6g ;"rgf s]Gb«sf] :yfkgf tyf s'/L If]qdf k|x/Lrf}sLsf] :yfkgf ;d]t ePsfn]
ko{6s tyf eSthgnfO{ yk ;xh ePsf] 5 . sDkgLsf] s]a'nsf/ ;]jftkm{ xfn cf}iftdf
b}lgs Ps xhf/ b]lv kGw| ;o ko{6sx?n] ofqf ul//x]sf 5g\ . ;]jf ljt/0f ug]{ qmddf o;
sDkgLsf] s]a'nsf/ ;]jfsf] nflu sDkgLsf] a6d :6]zgdf /x]sf] l6s6 sfpG6/x?sf ;fy}
6«fen Ph]G;L Pj+ cgnfO{g dfWodaf6 l6s6 vl/b ug{ ;lsg] Joj:yf ul/Psf] 5 .
-&_ pTkfbg÷;+rfng Ifdtf / ;f] sf] pkef]u l:ylt M s]jnsf/ ;+rfng kl5 o; sDkgLdf
ko{6sLo ?kdf cfudg ug]{ ko{6sx?sf] ;+Vof jflif{s ?kdf j[l4 eO{/x]sfn] sDkgLn]
:yfkgfsfn b]lv g} ahf/df /fd|f] lx:;f cf]u6\g / u|fxsx?nfO{ /fd|f] ;'ljwf lbg ;kmn ePsf]
5.
-*_ sRrf kbfy{sf] >f]t, lsl;d / pknAwtf M s]jnsf/ ;+rfng tyf dd{t;Def/sf nflu rflxg]
pko'Qm sRrf kbfy{ g]kfn, ef/t, rLg / l:jh/Nof08af6 cfoft ug]{ ul/Psf] / ;f] sRrf
kbfy{sf] pknAwtfsf nflu af]nkq cfJXfg u/L ;Demf}tf cg'?k k|of]udf Nofpg] ul/Psf] 5 .
-(_ u'0f lgoGq0fsf] nflu ul/Psf] Joj:yf M sDkgL ;]jfu|fxLx?sf] nflu u'0f:t/Lo ;]jf, ;'ljwf
tyf ;Gt'li6 k|bfg ug{ ;Fw} tTk/ /lx cfPsf] 5 . sDkgLn] k|bfg ug]{ ;]jfsf] u'0f:t/nfO{ pRr
/fVg Standarad Operating Policy -SOP) adf]lhd Joj:yfkgn] sfo{ ul//x]sf]] 5 . ;fy}, ;do
;dodf cfjZostf cg';f/ l:jh/Nof08 af6 bIf O{lGhlgo/x?sf] 6f]nL l´sfO{ ;'/Iff kl/If0f
ug]{ sfo{ ul/g] 5 .
-!)_ cg';Gwfg tyf ljsf; M sDkgLn] cfufdL lbgsf r'gf}tLx? Pj+ ahf/ k|lt:kwf{nfO{ cfTd;fy
ub}{ xfn k|bfg ul/Psf]] ;]jfx?df ;do ;fk]If ?kdf cfjZos kl/dfh{g ug]{ tyf gofF
;]jfx?sf] pko'Qmtfsf] ;DaGwdf ;'emfj u'gf;f] ;+sng ub} cfO{/x]sf] 5 / pQm u'gf;fx?dWo]
plrt u'gf;fx?nfO{ ;Daf]wg x'g] u/L ;]jf k|bfg ug]{ ul/Psf] 5 .
-!!_ ljut !@ dlxgfsf] cjlwdf ;+:yfsf] ;+rfngdf c;/ kg]{ u/L ePsf] jfwf, Jojwfg M ljutsf]
!@ dlxgfsf] cjlwdf g]kfndf dfq geO{ ljZjel/ km}lnPsf] sf]le8 !( sf] dxfdf/Lsf sf/0f
g]kfn ;/sf/n] b]zJofkL ?kdf ns8fpg 3f]if0ff u/]sf] x'Fbf s]lx ;do o; sDkgLsf]
s]a'nsf/ ;]jf ;~rfngdf gcfPsf] . g]kfn ;/sf/n] b]zJofkL ns8fpg cTosf] 3f]if0ff
u/];u}+ xfn sDkgLsf] s]a'nsf/ ;]jf ;~rfngdf cfPsf] .
-!@_ dhb'/ ;+u7g;Fusf] ;DaGw / ljutdf s'g} cf}Bf]lus ljjfb ePsf] eP, ;f] ;DaGwL ljj/0f M
;f] gePsf] .
-!#_ ahf/, k|lt:kwf{ / cGo ;dfg pBf]ux? aLr ;+ul7t ;+:yfsf] l:ylt M
g]kfndf xfn $ j6f s]ansf/ ;]jf k|bfosx? /x]sf 5g\ .
!= dgsfdgf bz{g k|f= ln= -;+rflnt If]qM lrtjg lhNnfsf] s'l/g6f/ b]lv uf]/vf lhNnfsf]
dgsfdgf_
@= rGb|flu/L lxN; lnld6]8 -;+rflnt If]qM sf7df8f}+ lhNnfsf] yfgsf]6_
#= sflnGrf]s bz{g k|f= ln= -;+rflnt If]qM bf]nvf lhNnfsf] sfln~rf]s_
$= cGgk'0f{ s]anaf/ k|f=ln= -;+rflnt If]qM sf:sL lhNnfsf] kf]v/f_
dfyL pNn]lvt s]ansf/ ;]jfx? b]zsf ljleGg :Yffgdf ;+rflnt 5g\ / nlIft ju{ klg
:yfgljz];df cfwfl/t ePsf sf/0f Pp6} ;]jf If]qdf ePtfklg Ps csf{sf k|lt:kwL{ xf]Ogg\ .
sflnGrf]s s]ansf/sf] nlIft pkef]Qmf eg]sf] sflnGrf]s dlGb/sf bz{gfyL{ x'g\ . xfn
sflnGrf]s If]qdf cGo s]ansf/ ;]jf k|bfossf] pkl:yt gePsf] / cGo oftfoft ;fwgsf]
pknAwtf ef}uf]lns agfj6sf sf/0f ;Dej gePsfn] cfˆgf] ahf/ If]q bf]nvf lhNnfsf] s'/L
b]lv sflnGrf]s dlGb/ ;Dd sDkgLsf] Psflwsf/ /x]sf] 5 .
xfn ;+rfngdf /x]sf] s]ansf/ sDkgL / sflnGrf]s bz{g lnld6]8sf] t'ngfTds cg'kft /
ljj/0fx?
? xhf/df
6
;+rngdf ;+rngdf
sflnGrf]s sflnGrf]s sflnGrf]s ;+rngdf
/x]sf] /x]sf]
bz{g ln= bz{g ln= bz{g ln= /x]sf] s]ansf/
ljj/0f s]ansf/ s]ansf/
sDkgL
sDkgL sDkgL
2075/76 2076/77 2077/78
cfos/ / Jofh
cl3sf] cfDbfgL 5,624.98 170,104.00 4,936.33 86,957.52 9,935.66 (50,805.8)
(EBIT)
xfnsf] cg'kft
Current Ratio 3 ** 7.06 0.61 3.07 1.38
(Times)
C0f – OlSjl6
cg'kft (Debt 1.99 2.22 0.74 1.65 0.75 1.59
Equity Ratio)
OlSj6Ldf k|ltkmn
(Return on -9.59 0.06 -7.05 -7.9 -2.53 -17.78
Equity) (%)
k|lt z]o/ cfDbfgL
-9.59 0.06 -7.05 -7.9 -2.53 -17.78
(?.)
k'FhL kl/rfngdf
k|ltkmn (Return on -12.59 0.06 -8.73 -9.35 -3.24 -25.92
Capital
Employed) (%)
k|lt z]o/ g]6jy{
76.19 96.69 80.68 84.51 78.15 68.59
(?.)
 xfnsf] cg'kft (Current Ratio) M pRr cg'kftnfO{ /fd|f] dflgG5 .

 C0f OlSj6L cg'kft (Debit-Equity Ratio) M sd cg'kftn] hf]lvd dfdndf /fd|f] l:yltsf]
;+s]t ub{5 .
 OlSjl6df l/6{g (Return on Equity) M of] cg'kft hlt pRr Tolt /fd|f] ;+s]t hgfp5 .
 k|lt z]o/ cfDbfgL (EPS) M k|lt z]o/ cfDbfgL hlt pRr Tolt /fd|f] ;+s]t hgfp5 .
-!$_ k|d'v u|fxsx?sf] ljj/0f -h:t}–;+:yfsf] s"n jflif{s sf/f]af/df !)Ü jf ;f] eGbf a9Ln]
of]ubfg ug{] jf Joj;fosf] nflu ;+ul7t ;+:yf s'g} k|d'v u|fxs;Fu lge{/ 5 eg] tt\ ;DaGwL
ljj/0f M ;f] gePsf] .
-!%_ k|d'v ;Knfo;{x?sf] ljj/0f -h:t}–;+:yfsf] s"n sf/f]af/df !)Ü jf ;f] eGbf a9Ln] of]ubfg
ug{] ;Knfo;{ jf Joj;fosf] nflu ;+ul7t ;+:yf s'g} k|d'v ;Knfo;{;Fu lge{/ 5 eg]
t\t;DaGwL ljj/0f_ M ;f] gePsf] .
u=#=v= ;DklQsf] ljj/0f M
-s_ ;+ul7t ;+:yfsf] pks/0f -KnfG6_ tyf cGo ;DklQ /x]sf] :yfg / pks/0f tyf ;DklQsf] cj:yf M
xfn;Dd sDkgLsf] gfddf ;[hgf e} ;s]sf] rn crn ;DklQsf] cj:yf tn pNn]v adf]lhd /x]sf]
5M
-cfly{s jif{ @)&&÷&* sf] n]vf kl/If0f k|ltj]bg cg';f/_
ljj/0f ejg tyf kfls{Ë kmlg{r/ , ;jf/L ;fwg pks/0fx? cGo hDdf
Pj+ af6f] lkmS:r/, sDKo'6/
tyf sfof{no
;fdfu|L
s'n k/ndf]n 17,06,35,559.82 58,12,157.85 98,16,404.71 25,11,11,043.65 26,23,500 43,99,98,666.03

o; jif{sf] yk 38,21,335.95 3,52,890 - 2,69,870.80 - 44,44,096.75
s'n k/n d"No 17,44,56,895.77 61,65,047.85 98,16,404.71 25,13,80,914.45 26,23,500 44,44,42,762.78
7
s'n x|f;s§L 1,15,97,375.17 28,42,537.23 46,07,300.76 2,08,79,300.71 7,78,911 4,07,05,424.86
a's Eofn' 16,28,59,520.60 33,22,510.62 52,09,103.95 23,05,01,613.74 18,44,589 40,37,37,337.92
k"FhLut lgdf{0f
hDdf 16,28,59,520.60 33,22,510.62 52,09,103.95 23,05,01,613.74 18,44,589 40,37,37,337.92
pk/f]Qm ;Dklt o; sDkgLsf] /lhi68{ sfof{no Pj+ sf/f]af/ ug]{ d'Vo :yfgdf cjl:yt /x]sf 5g\ .
-v_ a'Fbf -s_ df pNn]lvt ;DklQ ;+ul7t ;+:yfsf] cfkm\g} ;DklQ xf] of lnhdf lnPsf], lnhdf lnPsf]
eP lnhsf] cjlw ldlt ;d]t pNn]v ug'{kg]{ M
kl/of]hgf lgdf{0f tyf ;~rfngsf nflu lnhdf lnOPsf] ;+ul7t ;+:yfsf] hUufx?sf] ljj/0f M
l;=g= ljj/0f If]qkmn hUufwgL
! s'/L vs{ If]q @=$# x]]S6/ sflnsf dfO{ u'7L -u'7L ;+:yfg_
gf]6 M @=$# x]S6/ hUuf ;Dk"0f{ axfndf lnOPsf] jg If]q xf] .
-u_ olb ;DklQ ;+ul7t ;+:yfsf] :jfldTjdf /x]sf] ePdf pQm ;DklQ dfly s'g} lnog jf df]6{u]h eP
;f] ;DaGwL ljj/0f M
g]kfn P;aLcfO{ a}+s ln= n] ldtL @)&$÷)$÷@# df ?=@@,)),)),))).– -cIf/]kL afO; s/f]8
dfq_ / ldtL @)&^÷)(÷@* df ?=%,)),)),))).– -cIf/]kL kfFr s/f]8 dfq_ C0f :jLs[t u/L s'n
?=@&,)),)),))).– -cIf/]kL ;QfO; s/f]8 dfq_ shf{ nufgL ug]{ Joj:yf ul/Psf] 5 . pQm shf{ /
;f] sf] Aofh tyf cGo b}b:t'/ ;d]t vfDg] u/L ;'/If0f afkt sDkgLsf] gfddf xfn /x]sf] / kl5
l;h{gf x'g] cfof]hgfsf] rn crn ;DklQ pQm a}+sx?sf] gfddf b[li6aGwssf] lnvt /lhi6«]zg
kfl/t ul/Psf] 5 .
-3_ ljj/0fkq af]8{df k]z ul/Psf] ldltdf ;+ul7t ;+:yfsf] ;DklQsf] lstfjL d"No / ahf/ d"No aLr
km/s ePdf ;f] sf] ljj/0f M sDkgLsf] ;DkQLx?sf] d'No k/ndf]ndf g} /flvPsf]n] k"gd{'NofÍg
ul/Psf] 5}g .
-ª_ ;DklQsf] d"Nof+sg ul/Psf] t/Lsf ;DaGwL ljj/0f M ;f] gePsf] .
u=#=u= efjL of]hgf tyf /0fgLlt M

-s_ Joj;fo÷;]jfsf] a[l 4sf nfuL ;+:yfsf] efjL of]hgf / To:tf] of]hgfsf] k|flKtsf nfuL rflng]
;doj4 /0fgLtL M
-!_ s+kgLsf] z]o/ kF'hLnfO{ oyf]lrt kl/rfng ul/ yk cfo x'g] Joj;fodf nufgL a9fpFb}
sfln~rf]s If]qnfO{ wfld{s Pj+ ko{6lso If]qsf] ?kdf ljsfz ug]{ / Go'gtd vr{df clws gfkmf
d'ns 9+un] sfo{ ug]{ ul/ nIo lgwf{/0f ul/ cfkm\gf] sfd sf/jfxLnfO{ tLj| ?kdf cufl8 a9fO{ /x]sf]
5.
-@_ ljut @ jif{ b]lv sf]le8 !( sf] sf/0f cGo If]q nufot ko{6g If]qdf kg{ uPsf] c;/n] ubf{
nfdf] ;do ;Dd s]jnsf/ aGb x'g uof] . ns8fpgsf] cGTo x'bf klg 9'Ss eP/ bz{gfyL{x? cfjt
hfjt ug]{ jftfj/0f c´} sfod x'g ;s]sf] 5}g . o; sf/0f sDkgLsf] lgoldt k|utLdf ult/f]w
pTkGg x'g uPsf] 5 . o:tf k|sf/sf eljtJox? ;Fu} h'bb} sDkgLnfO{ ;lx ultdf cuf8L a9fpg yk
k"hF Lsf] lgtfGt cfjZostf dx;'; ul/ sDkgLn] xsk|b z]o/ hf/L ul/ r'Qmf k"F hLdf s]lx a[l4 u/]sf]
5 eg] r'Qmfk"FhLsf] @) k|ltztn] x'g] /sd ;j{;fwf/0fsf] nflu lgisf;g ug{ o;} ljj/0fkq dfkm{t
k|:tfj ul/Psf] 5 .
-#_ ;j{;fwf/0fsf] nflu k|:tfj ul/Psf] /sd lgisf;g kZrft o; sDkgLsf] k'FhL a[l4 x'g] / ;f]
k'FhLnfO{ cGo cfh{g x'g] If]qdf nufgL ul/g] tyf sDkgLsf] s]jnsf/ of]hgfdf ;d]t yk k'FhL
nufgL ug]{ of]hgf /x]sf] 5 .
-$_ qmlds ?kn] sf]le8 !( sf] k|sf]kdf s]lx sld cfPsf] tyf ko{6sx?sf] ;+Vof a9\b} uPsf] /
k'FhL a[l4 kl5 gofF nuflgsf] cj;/ ;d]t k|fKt x'g] ePsf]n] z]o/wgLx?nfO{ rf8} gfkmf ljt/0f ug]{
nIf sDkgLn] lnO{Psf] 5 .
sDkgLsf] k"FhL ;|f]t, gofF of]hgf ;DalGw ;doa¢ /0fgLlt / ;f] sf] ;Defljt nfut nufotsf
ljj/0fx? M
8
sf]ifsf] ;|f]t
ljj/0f /sd ?=
xsk|b z]o/ lgisfzgaf6 * 185,000,000.00
;fwf/0f z]o/ lgisfzgaf6 120,000,000.00
kl/kSs FD / gub k|jfxsf] ;+rfngaf6 k|fKt /sd 40,000,000.00
hDdf sf]if 345,000,000.00
gf]6 (*) M sDkgLsf] ;ftf} aflif{s ;fwf/0f;efaf6 k"FhL a[¢L ug]{ laz]if k|:tfj kfl/t u/L
z]o/wgLx?nfO{ xsk|b lgisfzg ul/;s]sf] .
sf]ifsf] kl/rfng
hDdf k|If]lkt cf=j=79/80 cf=j=80/81 cf=j=82/83
cf=j=81/82 df
ljj/0f df k|If]lkt /sd df k|If]lkt /sd df k|If]lkt
/sd ?= k|If]lkt /sd ?=
?= ?= /sd ?=
s]ansf/sf] nfuL
s]ansf/ lgoGq0f 32,500,000 32,500,000.00 - - -
k|0ffnL cf=j= 79-80
s]ansf/sf] nfuL
s]ansf/ u08f]nf 65,000,000 65,000,000.00 - - -
cf=j= 79-80
s]ansf/sf] nfuL
Ropeway Winch 5,200,000 5,200,000.00 - - -
cf=j= 79-80
s]ansf/sf] nfuL
;+/rgfTds ;+/rgf 47,700,000 47,700,000.00 - - -
cf=j= 79-80
Hotel Civil works
cf=j= 80-81 / 81- 163,891,424.99 - 84,654,287.51 79,237,137.49 -
82
xf]6nsf] nfuL kmlg{r/
/ lkmS:r/ cf=j= 80- 20,000,000 - 5,000,000.00 10,000,000.00 5,000,000.00
81, 81-82 / 82-83
xf]6nsf] nfuL efG5f
pks/0f / ;fdfu|L 10,000,000 - - 10,000,000.00 -
cf=j= 80-81
s'n pkof]u 342,000,000 150,400,000.00 89,654,287.51 99,237,137.49 5,000,000.00
-v_ k|lt:kwf{, ljBdfg cfly{s l:ylt / ;dfg lsl;dsf] pBf]usf] l:yltsf cfwf/df ;+ul7t :f+:yfsf]
eljioM
ldlt @)&( c;f/ !) ut];Dd $ j6f s]ansf/ ;]jf k|bfosx? ;~rfngdf 5g\ M
!= dgsfdgf s]ansf/ k|f= ln
@= rGb«flu/L lxN; lnld6]8
#= sflnGrf]s bz{g ln=
$= cGgk"0f{ s]ansf/ k|f= ln
9
Rff/ s]ansf/ dWo] b'O{ sDkgL rGb«flu/L lxN; lnld6]8 / sflnGrf]s bz{g ln= klAnsdf 5g\ . nfdf]
Oltxf; af]s]sf] dgsfdgf s]ansf/ lghL ?kdf ;~rflnt ;+:yf xf] . To;sf/0f t'ngfTds 8f6f
;fj{hlgs 8f]d]gdf pknAw 5}g . To:t} cGgk"0f{ s]ansf/ k|f= ln h;n] xfn;fn} sf/f]af/ ;~rfng
u/]sf] 5 pQm klg lghL sDkgL xf] h;sf] hfgsf/L ;fj{hlgs 8f]d]gdf pknAw 5}g .
;dfg pBf]usf] lx;fan] lgofNbf sDkgL k|lt:kwL{ b]lvG5g t/ cGo s]ansf/ sDkgLx? /
sfln~rf]s lnld6]8 km/s nlIft ;d"xsf ljleGg ko{6sLo uGtJodf cjl:yt 5g\ . o; sDkgLsf]
:yflgo txdf k|lt:kwL{ g/x]sf] / ;~rfngdf cfPsf o:t} cGo sDkgLx?sf] ljlQo kl/;'rsx?sf]
ljZn]if0f ubf{ t'ngfTds ?kdf o; sDkgLsf] ljlQo l:ylt dha't /x]sf] 5 . o; sDkgLn] k|bfg
u/L /x]sf] ;]jf tyf ;'ljwf cGosf] t'ngfdf u'0ffTds /xL o; If]qdf wfld{s tyf ko{6lso e|d0f
Pj+ bz{g ug{ cfudg ug]{ ko{6sx?sf] ;+Vof jflif{s ?kdf j[l4 eO/x]sf] 5 . o; sDkgLaf6
;~rflnt kl/of]hgf ko{6sLo If]qdf ;~rfng ul/Psf]n] cGo sDkgL;Fu k|lt:kwf{df hfg ;Sg] /
k|lt:kwL{ /xL nufgLstf{nfO{ plrt k|ltkmn lbg ;Ifd /xg] s'/fdf o; sDkgL ljZj:t /x]sf] 5 .
u=#=3= ;~rfns ;ldltsf] ;+/rgf / k|ltlglwTj ;DaGwL Joj:yf M

sDkgLsf] lgodfjnLdf ePsf] Joj:yf cg';f/ sDtLdf Ps hgf dlxnf ;d]t & -;ft_ hgfsf] ;~rfns
;ldlt x'g]5 . ;f] ;ldltdf ;d"xut k|ltlglwTj b]xfo adf]lhd x'g]5 .
;+:yfks ;d'xaf6 %
;j{;fwf/0f ;d'xsf z]o/wgLx?af6 !
:jtGq ;~rfns !
hDdf &
;~rfnsx?sf] sfo{sfn $ jif{sf] /x]sf] 5 .

sDkgLsf] ;~rfns kbdf lgo'Qm x'gsf] nflu cfˆgf] gfddf slDtdf !)) -Ps ;o_ lsQf z]o/ lnPsf]
x'g' kg]{5 . t/ :jtGq ;+rfns / ;+ul7t ;+:yfsf]] k|ltlglwTj ug]{ ;~rfnssf] xsdf pk/f]Qm Joj:yf
nfu' x'g] 5}g .
sDkgLn] ;j{;fwf/0f -:yfgLo afl;Gbf tyf ;j{;fwf/0fdf_ nfO{ 5'6\ofPsf] z]o/sf] ;fj{hlgs lgisf;g
eO{ afF8kmfF6 ePkZrft\ ! hgf :jtGq ;~rfns / ! hgf dlxnf ;~rfns dgf]gog u/L ;~rfns
;ldltsf] ;+/rgfnfO{ lgod @& -@_ df ePsf] Joj:yf adf]lhd k"0f{tf lbOg] Joxf]/fsf] k|lta4tf sDkgLsf]
ldlt @)&*÷!!÷)% ut] a;]sf] ;~rfns ;ldltsf] a}7sn] u/]sf] 5 .
u=$= k"FhL ;+/rgf ;DaGwL hfgsf/L M
-s_ clws[t, hf/L tyf r'Qmf k"FhL / ;+:yfsf] :yfkgf kZrft\ ;f] df kl/jt{g ePsf] eP tt\;DjGwL
ljj/0fM
 clws[t k'FhL M sDkgLsf] clws[t k"FhL ?= &%,)),)),))).— -cIf/]kL krxQ/ s/f]8 ?k}ofF_
/x]sf] 5 . pQm k"FhLnfO{ ?=!))÷—sf b/n] &%,)),))) -krxQ/ nfv_ yfg ;fwf/0f z]o/df
laefhg ul/Psf] 5 .
 hf/L k'FhL M sDkgLsf] hf/L k"FhL ?= ^),)),)),))).— -cIf/]kL ;f¶L s/f]8 ?k}ofF_ /x]sf] 5 .
pQm k"FhLnfO{ ?=!))÷—sf b/n] ^),)),))) -;f¶L nfv_ yfg z]o/df laefhg ul/Psf] 5 .
 r'Qmf k'FhL M sDkgLn] cfkm\gf] hf/L kF"hL dWo] ?=$*,)),)),))).–-cIf/]kL c8\rfln; s/f]8
?k}ofF_ ;+:yfks z]o/wgLx?af6 r'Qmf eO{;s]sf] tyf afFls ?=!@,)),)),))).– -cIf/]kL afx|
s/f]8_ a/fa/sf] !@,)),))) -afx| nfv_ lsQf z]o/ ;j{;fwf/0f -:yfgLo, j}b]lzs /f]huf/Ldf
/x]sf g]kfnL tyf ;j{;fwf/0f / sd{rf/Lx? ;d]t_ df ;fj{hlgs lgisf;gåf/f hf/L ug]{5 .
:yfgLo, j}b]lzs /f]huf/Ldf /x]sf g]kfnLx? tyf ;j{;fwf/0f / sd{rf/Lx? ;d]tsf nflu
5'§fOPsf] ?=!@,)),)),))).– -cIf/]kL afx| s/f]8_ a/fa/sf] ?=!)).–c+lst b/sf] !@,)),))) -
afx| nfv_ lsQf ;fwf/0f z]o/ lgisf;g u/L afF8kmfF6 u/] kZrft\ sDkgLsf] r'Qmf k"FhL ?=
^),)),)),))).— -cIf/]kL ;f¶L s/f]8 ?k}ofF_ x'g]5 .
sDkgLsf] :yfkgf kZrft\ clws[t, hf/L Pj+ r'Qmf k"FhLdf lgDg adf]lhd kl/jtg{ ePsf] 5 M
l;=g+= cfly{s jif{ clws[t k"FhL -?=_ hf/L k"FhL -?=_ r'Qmf k"FhL -?=_
10
!= @)^&÷^* @,)),)),))) @,)),)),))) @),)),)))
@= @)^*÷^( @,)),)),))) @,)),)),))) @),)),)))
#= @)^(÷&) @,)),)),))) @,)),)),))) @),)),)))
$= @)&)÷&! @,)),)),))) @,)),)),))) @),)),)))
%= @)&!÷&@ @%,)),)),))) @),)),)),))) !,%@,)),)))
^= @)&@÷&# @%,)),)),))) @),)),)),))) !),##,$),)))
&= @)&#÷&$ @%,)),)),))) @),)),)),))) !%,@),)),)))
*= @)&$÷&% @%,)),)),))) @),)),)),))) !%,@),)),)))
(= @)&%÷&^ @%,)),)),))) @),)),)),))) !%,@),)),)))
!)= @)&^÷&& #%,)),)),))) #),)),)),))) @(,%),)),)))
!!= @)&&÷&* #%,)),)),))) #),)),)),))) @(,%),)),)))
!@= @)&*÷&( &%,)),)),))) ^),)),)),))) $*,)),)),)))
$*,)),)),))) -?=!@,)),)),)))
/sd a/fa/sf] ;fwf/0f z]o/
!#= @)&(÷*) &%,)),)),))) ^),)),)),))) lgisfzg u/L afF8kmfF8 u/] kfZrft\
sDkgLsf] r'Qmf Kf'FhL ?=
^),)),)),))) x'g]5 ._
-v_ lgisf;g kl5sf]] r'Qmf k'FhL-;d"xs[t ul/Psf] cj:yfdf ;f]xL cg'?k_

sDkgLsf] k|aGwkqsf] bkmf ^ df pNn]v eP cg';f/ :yfgLo tyf ;j{;fwf/0fx?df ;fwf/0f z]o/
lgisf;g u/L afF8kmfF8 u/] kZrft\ x'g] sDkgLsf] r'Qmf k"Fh Lsf] ;+/rgf b]xfo adf]lhd /xg]5 M
qm=;= ljj/0f z]o/ ;+Vof r'Qmf /sd -?=_ k'FhL ;+/rgf e'QfgL ljj/0f
! ;+:yfks z]o/wgL 48,00,000 48,00,00,000 80% Zftk|ltzt
@ ;j{;fwf/0f 1,20,000 1,20,00,000 2% Zftk|ltzt
z]o/wgL -:yfgLo_
# ;j{;fwf/0f 10,80,000 10,80,00,000 18% xfn lgisfzg
z]o/wgL -j}b]lzs k|lqmofdf /x]sf]
/f]huf/Ldf /x]sf
g]kfnL, sd{rf/Lx?
tyf ;fd"lxs
nufgL sf]if ;d]t
_
hDdf 60,00,000 60,00,00,000 100%
gf]6 M != ;j{;fwf/0fx?nfO{ laqmL ul/g] z]o/ /sd r'Qmf x'g afFsL /x]sf] 5 .
@= ldlt @)&(.)&.!& ut] b]lv nfu' x'g] u/L :jLs[t ePsf] lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf,
@)&$ -5}+7f}+ ;+zf]wg @)&(_sf] bkmf $ -v_ -!_ df Joj:yf eP adf]lhd ;j{;fwf/0fdf ;fj{hlgs
lgisfzg ul/g] z]o/sf] !) k|ltzt j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?sf nflu 5'6 \ofO{Psf] .
-u_ z]o/ lk|ldod vftf -lgisf;g k"j{ / lgisf;g kZrft\_ M ;f] gePsf] .
u=%=;+:yfks÷;+rfns ;DaGwL hfgsf/L M

u=%=s= ;+:yfks÷;~rfnssf] k[i7e"dL M
-s_ cfwf/e"t z]o/wgLx? tyf ;~rfnsx?sf] gfd, kb, pd]/, /fli6«otf, 7]ufgf, z]o/ :jfldTj,
z}lIfs of]Uotf,cg'ej, / k|:tfljt Aofkf/÷Aoj;fodf cg'ej M
cfwf/e"t z]o/wgLsf] ljj/0f M
l;+ g+= Gffd, kb pd]/ /fli6«otf 7]ufgf z]o/ z}lIfs cg'ej

:jfldTj of]Uotf -k"j{ / xfn sfo{/t_
!= afn s[i0f %# g]kfnL sflnGrf]s $#),!*) :gfts af]8{ ;b:o – nufgL] af]8{ g]kfn df @)&$
11
lzjfsf]6L )*, bf]nvf b]vL xfn;Dd -t];|f] sfo{sfn_
-cWoIf_ ;~rfns – d]uf a}+s g]kfn lnld6]8 df
@)&% b]vL xfn;Dd
k"j{ cWoIf – sfln~rf]s 8]enkd]G6 a}+s ln=
@= dfs{08]o ^! g]kfnL e/tk'/ !), !*@,&^) cfO{= P cWoIf – P= lh nfOd k|f=ln=
clwsf/L lrtjg lq=lj k"j{ cWoIf – sfln~rf]s bz{g lnld6]8 df
-;~rfns_ @)&@ b]vL @)&^ ;Dd
#= Clifs]z uf}nL ^$ g]kfnL /Tggu/ !$),*^% l8Knf]df – l;l4 sG:6«S;g P08 ldg/N; OlG8li6«h
-;~rfns_ !@, lrtjg kmf]/]li6« k|f=ln= – z]o/wgL
piff dlN6kn lahg]z k|f=ln=– ;+:yfks
z]o/wgL
$= /d]z /fh %! g]kfnL sflnGrf]s !!^,@)) :gfts ;+rfns ;b:o –kz'klt If]q ljsf; sf]if
lzjfsf]6L )*, bf]nvf k|aGw lgb]{zs – kz'klt lehg k|f=ln=
-;~rfns_
%= u'? k|;fb %! g]kfnL e/tk'/ !#, %&@,^)) :gfts lgb]{zs – PSo'6 g]kfn k|f= ln= @)%! b]lv
clwsf/L lrtjg xfn,
-;~rfns_ lgb]{zs – lh=P; OlGhlgo/;\ P08
sG;6«S;g sDkgL k|f=ln @)^% b]lv xfn,
^= yfg]Zj/ a:ofn g]kfnL dbgkf]v/f !!),))) l;=P÷ kf6{g/ – a:ofn P08 P;f]l;o6\; -@)^(
-;~rfns_ )(, kfNkf :gftsf]Q/ b]lv xfn;Dd_
#% lgb]{zs– ;Tojlt bz{g k|f=ln= -@)&^ b]lv
xfn;Dd_
lgb]{zs– o'gfO6]6 n'lDagL OGe]:6d]G6 k|f=ln
-@)&@ b]lv xfn;Dd_
&= czf]s lzjfsf]6L %% g]kfnL ;'o{ljgfos %),))) :gftsf]Q/ k|d'v sfo{sf/L clws[t – sflnGrf]s
-k|d'v sfo{sf/L afnsf]6, 8]enkd]G6 a}+s ln= -@)^*–@)&# ;Dd_
clws[t_ eQmk'/
*= lbks clwsf/L #( g]kfnL e/tk'/ !), !(&,)%% :gftsf]Q/ 8fS6/ – lrtjg d]l8sn sn]h
-;+:yfks lrtjg
z]o/wgL_
( pd]z /fh $& g]kfnL sflnGrf]s #!@,%#) :gfts k|f]k|fO6/– xf]6n cfdf8fanfd
lzjfsf]6L )*, bf]nvf
-;+:yfks
z]o/wgL_
!)= ;Gho s'df/ $^ g]kfnL s~rg?k @)),)#) lhof]6]lSg Jofkf/ tyf Joj;fo
h}g -;+:yfks )%, ;Kt/L sn
z]o/wgL_ OlGhlgo/
12
!!= alag lzjfsf]6L $% g]kfnL sflnGrf]s !%),)^) :gftsf]Q/ Dffs]{l6ª Dofg]h/ – 6«fG;lqmKt ufd]{G6
-;+:yfks )*, bf]nvf k|f]k|fO6/– la=cf]=la OG6/g]zgn
z]o/wgL_
!@= ;GWof nfld5fg] $$ g]kfnL sf7df08f}+ %&,@@) :gfts k|f]k|fO6/–gj sflGtk'/ kmlg{r/ pBf]u
-;+:yfks )(
z]o/wgL_
!#= lbks s'df/ ^$ g]kfnL lau' , ^@,(%) :gftsf]Q/ Jofkf/ tyf Joj;fo
v8\sf -;+:yfks bf]nvf
z]o/wgL_
!$= b]jsf lzjfsf]6L %^ g]kfnL sflnGrf]s ^&,))) P;=Pn=l; u[lx0fL

-;+:yfks )*, bf]nvf
z]o/wgL_
!%= eujtL r6f}t $$ g]kfnL s~rgk'/ !&*,^&% :gfts u[lx0fL

-;+:yfks )$
z]o/wgL_
!^= lutf pk|]tL $& g]kfnL xl/ag )@, &%,))) :gfts u[lx0fL
-;+:yfks ;nf{xL
z]o/wgL_
!&= ;'hg pk|]lt @( g]kfnL sf7df08f}+ (),))) P;=Pn=l; Dfflns– sflndf6L xf]n;]n k;n
-;+:yfks )&
z]o/wgL_
!*= OlGb/f k/fh'nL $^ g]kfnL sf7df08f}+ !%*,(@) cfO=P Jofkf/ Joj;fo

-;+:yfks #%
z]o/wgL_
!(= hnx/L $* g]kfnL sflnGrf]s %),)!) :gfts Jofkf/ Joj;fo

lzjfsf]6L )&, bf]nvf
-;+:yfks
z]o/wgL_
@)= l;4fy{ nfu' g]kfnL sf7df08f}+ #)),))) nfu' gx'g] nfu' gx'g]
OGkm|f:6«Sr/ gx'g] !)
8]enkd]G6 P08
Oge]i6d]G6
k|fOe]6 lnld6]8
-;+:yfks
z]o/wgL_
@!= xl/; r6f}t $& g]kfnL s~rgk'/ !%),))) :gfts Jofkf/ Joj;fo
-;+:yfks )$
z]o/wgL_
@@= ;'lznf b]lj %^ g]kfnL laxf8L )%, &%,))) P;=Pn=l; u[lx0fL

e';fn -;+:yfks kj{t
z]o/wgL_
13
@#= pd]z v8\sf #& g]kfnL led]Zj/ !#, %),))) :gftsf]Q/ Pd=l8– cnfOe ;]leª P08 qm]l86
-;+:yfks bf]nvf
z]o/wgL_
;+rfnsx?sf] ljj/0f
l;=g+= Gffd, kb pd]/ /fli6«otf 7]ufgf Zf]o/ z}lIfs k|:tfljt cg'ej –k"j{ / xfn
:jfldTj of]UotfJofkf/ sfo{/t_
÷Joj;fo
!= afn s[i0f %# g]kfnL sflnGrf]s $#),!*) :gfts o; sDkgLdf af]8{ ;b:o – nufgL] af]8{
lzjfsf]6L )*, bf]nvf ldlt @)&@ g]kfn df @)&$ b]vL
-cWoIf_ b]lv @)&^ xfn;Dd -t];|f] sfo{sfn_
;Dd ;~rfns – d]uf a}+s
;~rfnssf] g]kfn lnld6]8 df @)&%
/kdf b]vL xfn;Dd
/xg'ePsf] / k"j{ cWoIf – sfln~rf]s
@)&^÷)(÷@$ 8]enkd]G6 a}+s ln=
b]lv xfn ;Dd
cWoIfsf] ?kdf
/xg'ePsf] .
@= dfs{08]o ^! g]kfnL e/tk'/ !), !*@,&^) cfO{= P o; sDkgLdf cWoIf – P= lh nfOd
clwsf/L lrtjg lq=lj ldlt @)&@ k|f=ln=
-;~rfns_ b]lv @)&^ k"j{ cWoIf – sfln~rf]s
;Dd cWoIfsf bz{g lnld6]8
?kdf
/xg'ePsf] /
@)&^÷)(÷@$
b]lv xfn ;Dd
;~rfnssf]
?kdf
/xg'ePsf] .
#= Clifs]z uf}nL !$),*^% l8Knf]df – o; sDkgLdf l;l4 sG:6«S;g P08
-;~rfns_ kmf]/]li6« klxnf] ldg/N; OlG8li6«h k|f=ln=
sfo{sfndf - – z]o/wgL
@)&@–@)&^_ piff dlN6kn lahg]z
^$ g]kfnL /Tggu/ !@, ;Dd / bf];|f] k|f=ln=– ;+:yfks z]o/wgL
lrtjg sfo{sfndf
ldlt
@)&^÷)(÷@$
b]lv xfn ;Dd
;~rfnssf]
?kdf
/xg'ePsf] .
14
$= /d]z /fh %! g]kfnL sflnGrf]s !!^,@)) :gftso; sDkgLdf ;+rfns ;b:o –kz'klt
lzjfsf]6L )*, bf]nvf klxnf] If]q ljsf; sf]if
-;~rfns_ sfo{sfndf - k|aGw lgb]{zs – kz'klt
@)&@–@)&^_ lehg k|f=ln=
;Dd / bf];|f]
sfo{sfndf
ldlt
@)&^÷)(÷@$
b]lv xfn ;Dd
;~rfnssf]
?kdf
/xg'ePsf] .
%= lbNnL k|;fb %* g]kfnL sflnGrf]s $&,#@% P;=Pn=l; o; sDkgLdf lgb]{zs – j]nsd 6]Sgf]n
lzjfsf]6L )*, bf]nvf klxnf] k|f=ln / Pl8;g 6]«8 lnÍ
-;~rfns_ sfo{sfndf - k|f=ln @)%% b]lv
@)&@–@)&^_ xfn;Dd
;Dd / bf];|f] lzIfs – b]ljwg
sfo{sfndf cfwf/e"t ljBfno
ldlt @)$)–@)$(
@)&^÷)(÷@$
b]lv xfn ;Dd
;~rfnssf]
?kdf
/xg'ePsf] .
^= u'? k|;fb %! g]kfnL e/tk'/ !#, %&@,^)) :gfts o; sDkgLdf lgb]{zs – PSo'6 g]kfn
clwsf/L lrtjg klxnf] k|f= ln= @)%! b]lv xfn
-;~rfns_ sfo{sfndf lgb]{zs – lh=P;
-@)&#–@)&^_ OlGhlgo/;\ P08
;Dd / bf];|f] sG;6«S;g sDkgL k|f=ln
sfo{sfndf @)^% b]lv xfn
ldlt
@)&^÷)(÷@$
b]lv
xfn ;Dd
;~rfnssf]
?kdf
/xg'ePsf] .
&= yfg]Zj/ a:ofn !!),))) l;=P÷ o; sDkgLdf kf6{g/ – a:ofn P08

-;~rfns_ #% g]kfnL dbgkf]v/f :gftsf]Q/ ldlt P;f]l;o6\; -@)^( b]lv
)(, kfNkf @)&^÷)(÷@$ xfn;Dd_
b]lv lgb]{zs– ;Tojlt bz{g
xfn ;Dd k|f=ln= -@)&^ b]lv
;~rfnssf] xfn;Dd_
?kdf lgb]{zs– o'gfO6]6 n'lDagL
/xg'ePsf] . OGe]:6d]G6 k|f=ln -@)&@
b]lv xfn;Dd_
o; sDkgLsf ;+rfnsx? cGo ;dfg p2]Zo ePsf] sDkgLsf] ;+rfnsdf g/x]sf] Joxf]/f hfgsf/L ub{5f}+ .
-v_ ;+:yfksx? s'g} sDkgL÷;+:yf ePdf To:tf] sDkgL÷;+:yfsf] gfd tyf 7]ufgf ;lxtsf] ;+l IfKt ljj/0f /
pQm sDkgL÷;+:yfsf ;+rfnsx?sf] gfd, 7]ufgf, -k|fs[lts AolQm gv'n];Dd_ M
15
qm=;= ;+:yfksx?sf] gfd tyf ;+lIfKt ljj/0f ;~rfnsx?sf] gfd tyf
7]ufgf 7]ufgf
l;4fy{ OGkm|f:6«Sr/ o; l;4fy{ OGkm|f:6«Sr/ – OGefO/f]d]G6 P08 l/;f];{

8]enkd]G6 P08 8]enkd]G6 P08 OGe]i6d]G6 d]g]hd]G6 sG;n6]G6 k|f= ln=–
! OGe]i6d]G6 sDkgL sDkgL k|fOe]6 lnld6]8 sf] ;+:yfks sf=d=kf= !),
k|fOe]6 lnld6]8 /lhi68{ sfof{no sf7df08f}+ sf7df08f}{ sf k|ltlglw >L
lhNnf, sf=d=g=kf, j8f g+= !) påa /fh rf}nfufFO{ / >L
df /x]sf] 5 . sDkgLn] lghL x]dlglw zdf{
If]q;Fu /x]sf] k"FhL, k|ljlw, – >L /d]z s'df/ l;njfn –
Joj:yfksLo 1fg, ;Lk / a]gL3f6 /f]/fË, wflbË
cg'ejnfO{ k"jf{wf/ ;+/rgfsf] – >L ;'lbk 1jfnL –
ljsf; / ;~rfngdf pkof]u l/KbLsf]6, kfNkf
u/L ;/sf/L, ;xsf/L / – >L eQm/fd 1jfnL{ –
;fd"bflos If]q;Fusf] ;xsfo{df l/AbLsf6–%, kfNkf
d'n'ssf] cfly{s ;d[l4 xfl;n – >L /d]z/fh lzjfsf]6L –
ug{ 6]jf k'/fpb} cfPsf] 5 . sflnGrf]s, bf]nvf
– >L lzjs[i0f >]i7 – dWok'/
l7dL, eQmk'/
-u_ ;+ul7t ;+:yfsf] ;+rfnsx? cGo s'g} sDkgL, ;+:yf, sf]if, ;+ u7g;Fu cfj4 eP To:tf] ;+rfns /
cfj4 ePsf] ;+:yfsf] gfd, 7]ufgf M
qm+ ;+ ;~rfnssf] gfd, 7]ufgf cfj4 /x]sf] ;+:yfsf] gfd, 7]ufgf
! >L afn s[i0f lzjfsf]6L lgb]z { s – d]uf a}+s g]kfn lnld6]8
af]8{ ;b:o – nufgL] af]8{ g]kfn
@ >L dfs{08]o clwsf/L cWoIf – P= lh nfOd k|f=ln=
# >L Clifs]z uf}nL l;l4 sG:6«S;g P08 ldg/N; OlG8li6«h k|f=ln= –

z]o/wgL
piff dlN6kn lahg]z k|f=ln=– ;+:yfks z]o/wgL
$ >L /d]z/fh lzjfsf]6L ;+rfns ;b:o –kz'klt If]q ljsf; sf]if
k|aGw lgb]{zs – kz'klt lehg k|f=ln=
% >L l8NnL k|;fb lzjfsf]6L lgb]{zs – j]nsd 6]Sgf]n k|f=ln / Pl8;g 6]«8 lnÍ
k|f=ln
^ >L u'? k|;fb clwsf/L lgb]{zs – PSo'6 g]kfn k|f= ln=

lgb]{zs – lh=P; OlGhlgo/;\ P08 sG;6«S;g
sDkgL k|f=ln
& >L yfg]Zj/ j:ofn kf6{g/ – a:ofn P08 P;f]l;o6\;
lgb]{zs– ;Tojlt bz{g k|f=ln=
lgb]{zs– o'gfO6]6 n'lDagL OGe]:6d]G6 k|f=ln
;+:yfut ;'zf;g ;DaGwL lgb]{lzsf, @)&$ / sDkgL P]g, @)^# sf] bkmf *( sf] pkbkmf -!_ -^_ df ePsf]
Joj:yfx? kfngf ePsf] Joxf]/f hfgsf/L u/fOG5 .
-3_ ;+:yfks÷;+rfnssf] xs x:tfGt/0f aGb]h ;DaGwL ljj/0f M
!_ sDkgLsf] k|jGwkq tyf lgodfjnLdf x:tfIf/ ug]{ ;+:yfks z]o/wgLx?n] sDkgLsf] k|yd jflif{s
;fwf/0f ;ef geP;Dd / lghsf] gfddf hf/L ePsf] z]o/sf] sDkgLaf6 dfu ePsf] d"No k"0f{ ?kdf r'Qmf
16
geP;Dd ljqmL ljt/0f jf bfg bftJo jf s'g} klg lsl;daf6 xs 5f8L lbg / lwtf] aGws /fVg kfOg]
5}g .
-@_ cGo ;+:yfks z]o/wgLx?n] sDkgLsf] z]o/ ljqmL Pj+ cGo k|sf/n] xs x:tfGt/0f ug{ jf lwtf]aGws
/fVg ;~rfns ;ldltsf] :jLs[lt lng' kg]{5 .
ælwtf]kq btf{ tyf lgisfzg lgodfjnL, @)&# -rf}yf] ;+zf]wg_Æ sf] lgod -#*_ sf] pklgod -!_ df ePsf]
Joj:yf cg'?k lwtf]kq ;fj{hlgs lgisf;g ug{ ;Sg] u/L ;+:yflkt ;+ul7t ;+:yfsf ;j{;fwf/0f afx]s cGo
;d"x -;+:yfks, sd{rf/Lx? tyf :yfgLo afl;Gbfx?_ n] lnPsf] z]o/ ;fj{hlgs lgisfzg u/]sf] z]o/
afF8kmfF6 ePsf] ldltn] tLg aif{sf] cjlw k"/f geO{ laqmL ug{ kfOg] 5}g .
u=%=v=;+:yfks÷;~rfns;Fusf] sf/f]af/ M
s_ ;+ul7t ;+:yfaf6 s'g} ;+:yfks÷;~rfnsn] k|ToIf jf ck|ToIf ?kdf s'g} j:t' jf ;'ljwf -cfly{s jf
u}/cfly{s_ k|fKt u/]sf] jf k|fKt ug]{ ePdf To:tf] j:t' jf ;'ljwfsf] k|s[lt / d"No / To:tf] ;'ljwf lbP afkt
;+ul7t ;+:yfn] s'g} ;DklQ, ;]jf k|fKt u/]sf] jf ug]{ ePdf tT;DaGwL ljj/0f M ;f] gePsf] .
v_ a'Fbf -s_ df pNn]lvt a:t' jf ;'ljwfsf] d"No lgwf{/0f ug{ ckgfOPsf] tl/sf M ;f] gePsf] .
u=^=;Lldt bfloTj ;DaGwL ljj/0f M

o; sDkgL k|rlnt sDkgL sfg"g cGtu{t :yflkt tyf ;~rflnt klAns lnld6]8 sDkgL xf] . o;df
z]o/wgLx?sf] bfloTj ;Lldt 5 . o; sDkgLsf] z]o/wgLsf] bfloTj lghn] vl/b u/]sf] jf vl/b ug{ sa'n
u/]sf] z]o/sf] clwstd\ /sd;Dd dfq ;Lldt /xg]5 .
u=&=;+ul7t ;+:yfsf] sd{rf/L ;DaGwL ljj/0f M
u=&=s=;+ul7t ;+:yfsf] pRr Aoa:yfksLo txsf sd{rf/Lx? ;DaGwL ljj/0f M

s_ ;+ul7t ;+:yfsf] pRr Aoa:yfksLo txsf sd{rf/Lsf] gfd, of]Uotf, lgo'lQm ePsf] ldlt, klxn] sfd
u/]sf] cg'ej tyf ;+ul7t ;+:yfsf] z]o/ lnPsf] eP z]o/ ;+Vof ;DaGwL ljj/0f . ;fy} To:tf] sd{rf/Lx?
cGo s'g} ;"lrs[t ;+ul7t ;+:yfsf] cfwf/e"t z]o/wgL eP jf cGo s'g} ;+ul7t ;+:yfdf nufgL u/]sf] eP
pQm ;+ul7t ;+:yfsf] gfd / nufgL u/]sf] /sd v'nfpg' kg]{ .
qm=;+= sd{rf/Lsf] gfd kb of]Uotf lgo'lQm ldlt z]o/ ;+Vof sfof{g'ej
!= czf]s k|d'v :gftsf]Q/ @)&#÷)&÷@% %),))) k|d'v sfo{sf/L clws[t M sfln~rf]s

l;jfsf]6L sfo{sf/L lsQf 8]= a}s @)^* b]lv @)&#
clws[t k|d'v sfo{sf/L clws[t M sfln~rf]s
bz{g ln= @)&# sflQ{s b]vL xfn
;Dd sfo{/t .
@= /fDhL v8\sf k|d'v :gfts @)&*÷)%÷)! –  sfln~rf]s bz{g lnld6]8 –
n]vf k|d'v n]vf clws[t -@)&*
clws[t b]lv xfn;Dd_
 cfb/ dlN6 OGe]i6d]G6
sDkgL lnld6]8 – ljQ
lgoGqs -@)&% kf}if b]lv
@)&* >fj0f ;Dd_
 n]vfkl/If0f k|aGws –
aZofn P08 P;f]l;P6;\ -
@)&! d+l;/ b]lv @)&%
sflt{s ;Dd_
17
#= ltns k|;fb OlGhlgo/ :gfts @)&(÷)@÷)* –  sfln~rf]s bz{g lnld6]8 –
b'nfn ÷k|aGws ;fO6 OlGhlgo/÷k|aGws -
-OlGhlgol/Ë_ @)&(÷)@÷)* b]lv
xfn;Dd_
 lzj>L xfO8«f] kfj/ lnld6]8–
On]lS6«sn OlGhlgo/ -
@)&&÷!!÷!(_ b]lv
@)&(÷!@÷#) ;Dd_
 sl:ds OlSnl6«sn
OlGhlgol/Ë P;f]l;P;g
k|f=ln= – On]lS6«sn
OlGhlgo/ - @)&^÷!)÷!^
b]lv @)&&÷)#÷)&_
=
gf]6 M dfyL pNn]lvt sDkgLsf] pRr Joj:yfklso txsf sd{rf/Lx? cGo s'g} ;'lrs[t ;+ul7t ;+:yfsf] jf cGo
s'g} ;+ul7t ;+:yfsf] cfwf/e't z]o/wgLsf] ?kdf g/x]sf] jf cGo s'g} ;+ul7t ;+:yfdf cGo pNn]lvt afx]s
sDkgLsf] hfgsf/Ldf gcfPsf] .
v_ ljj/0fkq af]8{df k|:t't ug{' eGbf ! aif{ cufl8sf] cjlwdf lgod cg';f/ cjsfz k|fKt ePsf] cj:yf afx]s
;+ul7t ;+:yfsf] pRr Aoa:yfksLo txdf /x]sf s'g} sd{rf/L kl/jt{g ePdf ;f] ;DaGwL ljj/0f pNn]v ug'{
kg]{ M ;f] gePsf] .
u_ sd{rf/L ;+Vof M :yfoL, c:yfoL, s/f/, Hofnfbf/L / cGo .
sDkgLdf xfn b]xfo adf]lhdsf sd{rf/Lx? sfo{/t 5g\ M
:yfoL c:yfoL s/f/ Hofnfbf/L cGo s'n sd{rf/L ;+Vof

@! hgf – * hgf – – @( hgf
u=&=v=;+rfns Pj+ pRr Aoa:yfksLo txsf clws[tnfO{ lbPsf] eQf tyf kfl/>lds ;DaGwL ljj/0f M
s_ ;+rfns ;ldltsf] cWoIf nufot cGo ;b:ox?nfO{ k|bfg ul/g] jf ul/Psf] a}7s eQfsf] b/ tyf
lghx?nfO{ k|bfg ul/g] jf ul/Psf] b}lgs tyf e|d0f eQf / cGo ;'ljwf M
sDkgLsf] jflif{s ;fwf/0f ;efsf] lg0f{o cg';f/ ;~rfns ;ldltsf], a}7s eQf afkt tk;Ln cg';f/sf] lbg]
Joj:yf ul/Psf] M
!= ;~rfns ;ldltsf] cWoIfsf] nflu k|lt a}7s eQf ?=*,)))÷–
@= ;~rfns ;ldltsf cGo ;~rfns ;b:ox?sf] k|lt a}7s eQf ?=&,%))÷–
gf]6 M b}lgs tyf e|d0f eQf / cGo ;'ljwf gePsf] .
v_ ;+ul7t ;+:yfsf] pRr Aoa:yfklso txsf tLg hgf clws[tx?sf] gfd, kb / Ps cfly{s aif{sf] cjlw
leq pgLx?nfO{ kfl/>ldssf] ?kdf e'Qmfg ul/Psf] /sd M
l;=g+= sd{rf/Lsf] gfd kb Ps jif{ leq cyf{t\ @)&* >fj0fb]lv @)&(

cfiff9;Dddf e'QmfgL u/]sf] kfl/>lds -?=_
! czf]s l;jfsf]6L k|d'v sfo{sf/L clws[t !*,!#,)%)÷–
@ /fDhL v8\sf k|d'v n]vf clws[t ^,!$,!@%*

# ltns k|;fb b'nfn OlGhlgo/÷k|aGws &@,)))**
* >L /fDhL v8\sf efb| )!, @)&* af6 lgo'Qm x'g'ePsf] .
18
**>L ltns k|;fb b'nfn h]i7 )*, @)&( af6 dfq lgo'Qm x'g'ePsf] .
u_ s'g} clws[t jf ;+rfnsnfO{ eljiosf] nflu s'g} /sd k|bfg ul/g] u/L s/f/ ul/Psf] eP ;f] ;DaGwL
ljj/0f M xfn ;Dd To:tf] s'g} s/f/ ul/Psf] 5}g .
u=*=cGt{lglxt hf]vLd tyf ;f] sf] Joj:yfkgsf] nfuL Joj:yfkgsf] wf/0ff M
sDkgLsf] cGt{lglxt hf]lvdx? lgDgcg';f/ /x]sf 5g .
-s_ ljQLo ;fwgsf] cefjaf6 x'g] hf]lvd M

 lgdf{0f ;DkGg eO{ ldlt @)&% sflt{s !& ut]af6 s]jnsf/ ;+rfngdf /x]sfn] ljQLo hf]lvd
Go"g /x]sf] .
 ;+:yfdf cfj4 z]o/wgLx?n] sa'n u/]sf] ;Dk"0f{ /sd k|fKt eO;s]sf] / a}+saf6 klg C0f k|fKt
ePsf]n] ljQLo ;fwgsf] cefjaf6 x'g] s'g} klg hf]lvd gx'g] .
 g]kfnsf] cy{tGqdf x'g] cfly{s dGbLaf6 kg{ ;Sg] c;/jf6 x'g] hf]lvdx? .
-v_ sRrf kbfy{sf] cefjaf6 x'g] hf]vLd M

 s]jnsf/ ;+rfng tyf dd{t;Def/sf nflu rflxg] pko'Qm sRrf kbfy{ g]kfn, ef/t, rLg /
l:jh/Nof08af6 cfoft ug]{ ul/Psf] / ;f] sRrf kbfy{sf ;fdfu|Lx?sf] cefjaf6 x'g] ;]jf k|bfg
;DaGwL hf]lvdx? .
-u_ pTkfbg tyf ;]jfsf] ahf/ l:ylt / o;df cfpg] kl/jt{gaf6 x'g] hf]lvd M
 xfn ljZje/ b]lvPsf] sf]le8 !( dxfdf/L tyf o:tf ck|Toflzt ?kdf ;[hgf x'g] ljZjJofkL
dfxdf/Lsf] kl/l:ytLsf] sf/0fn] cy{tGqdf ;[hgf x'g] hf]lvdx? .
 ;dfg lsl;dsf] gofF ;+:yfsf] k|j]zaf6 pTkGg x'g] k|lt:kwf{Tds hf]lvdx? .
 cfly{s dGbLsf] sf/0faf6 x'g ;Sg] hf]lvd .
-3_ cfof]hgf ;DkGg x'g l9nfO{ x'g] ;Defjgf / To;af6 x'g] d"No clea[l4 (cost overrun) sf] hf]lvd M
 ;f] gePsf] .
-ª_ ljb]zL ljlgdosf] hf]lvd M
 ljb]zL ljlgdosf]] hf]lvd g/x]sf] .
-r_ sfg"gL k|s[ofx? tyf O{hfht k|fKt ug'{ kg]{ eP ;f] af6 kg{ ;Sg] cj/f]wx? M
 ;f] gePsf] .
-5_ If]qLos/0f / ljZjAofkLs/0f (Globalization) sf sf/0faf6 pTkGg x'g ;Sg] hf]lvd M
 b]zsf] cfly{s cj:yfdf cfpg ;Sg] cfly{s lu/fj6sf sf/0f vr{ ug{ ;Sg] Ifdtfdf x|f; cfpg]
hf]lvd .
 cGt{/fli6«o ahf/df x'g] dxfdf/L tyf cfly{s dGbLn] kfg{ ;Sg] c;/ ko{6sLo If]qdf kg{ ;Sg]
ePsfn] ;f] af6 x'g] hf]lvdx? .
 k"FhL ahf/sf] cj:yfdf cfpg] ptf/–r9fjaf6 kg{ ;Sg] hf]lvdx? .
-h_ ;/sf/L gLlt tyf lgodx?df x'g] kl/jt{g tyf ljZjAofkL ?kdf x'g] gLltut kl/jt{gaf6 x'g] hf]lvd M
 g]kfn ;/sf/ tyf cGo lgodg lgsfox?n] hf/L ug]{ lgod lgb]{zgsf] ck|Toflzt kl/jt{gaf6
l;h{gf x'g] ;Defljt hf]lvdx? .
 b]zsf] j}b]lzs gLltdf x'g;Sg] kl/jt{gaf6 pTkGg x'g;Sg] ;Defljt hf]lvdx? .
 g]kfn ;/sf/ tyf cGo lgodg lgsfox?sf] cfly{s tyf ljQLo gLlt lgoddf x'g] kl/jt{gaf6
l;h{gf x'g;Sg] ;Defljt hf]lvdx? .
-em_ ;+rfng Oltxf;sf] cefj M
 o; sDkgL k|rlnt sfg'g adf]lhd ldlt @)^#÷)$÷!& ut] sfln~rf]s xfO8«f]kfj/ k|f=ln=sf]
gfdjf6 btf{ ePsf]df ldlt @)^(÷!)÷@^ ut]b]lv sfln~rf]s bz{g k|f=ln=sf] gfd df btf{
ePsf] / ldlt @)&!÷!)÷)^ ut]b]lv k|fOe]6 sDkgLaf6 klAns sDkgLsf] ?kdf kl/0ft u/L
ldlt @)&!÷!)÷)* ut]b]lv sfln~rf]s bz{g lnld6]8sf] gfddf sDkgL /lhi6«f/sf] sfof{nodf
btf{ sfod eO{ ldlt @)&% sflt{s !& ut]b]lv Joj;flos ?kdf s]a'nsf/ ;]jf ;~rfng u/]sf]
Oltxf; /x]sf] 5 .
19
-`_ k|ljlwsf] kl/jt{gaf6 x'g] ;Sg] hf]lvd M
 ;f] gePsf] .
-6_ cGo M
 k|fs[lts k|sf]k tyf sfa' aflx/sf] kl/l:yltsf sf/0faf6 x'g ;Sg] hf]lvdx? .
 b]zsf] c:yL/ /fhg}lts l:yltsf sf/0f x'g ;Sg] hf]lvdx? .
 b]zsf] cfly{s cj:yfdf cfpg] ptf/ r9fj af6 pTkGg x'g ;Sg] hf]lvdx? .
sf]le8 ;DalGw hf]lvdx?M
 ljZjJofkL ?kdf Kfm}lnPsf] sf]/f]gf efO{/; sf] sf/0f ljZj / b]zsf] cy{tGq sf] ;fy} ko{6sLo
Ifqsf] ljsf;df ;d]t c;/ kg{ ;Sg] .
 sf]le8 !( sf] sf/0f ;do ;dodf hf/L ePsf] lgif]wf1fsf sf/0f ko{6ssf] sdL x'g ;Sg] .
 sf]le8 !( sf] sf/0faf6 cfly{s ultljlw 7Kk x'Fbf pTkGg x'g ;Sg] hf]lvdx? .
 cGo :jf:Yo ;DalGw sf/0fn] x'g ;Sg] hf]lvdx? .
;Defljt cfly{s hf]lvdx?nfO{ Go"gLs/0f ug{ Joj:yfkgn] lgDg pkfox? cjnDjg ub}{ hfg]5 .
o; sDkgLsf] d'Vo cfo>f]t eg]sf] o; kl/of]hgf :ynsf] e|d0fdf cfpg] cfGtl/s tyf afx\o
ko{6sx?af6 ul/g] vr{ afktsf] /sd g} xf] . o; sDkgLnfO{ g]kfn ;/sf/ ko{6g, ;F:s[tL tyf gful/s
p8\8ug dGqfnon] cf=j= @)&% ;fnsf] Best Tourist Destination Award k|bfg u/]sf] 5 . g]kfn ;/sf/
ko{6g dGqfno, ko{6g ljefun] d'n'ssf !)) j6f k|d'v uGtJo :yfgx? dWo] sfln~rf]s eujtLsf]
dlGb/ If]qnfO{ klg ;dfj]z u/]sf] kl/k|]Iodf o; sDkgLn] ;~rfng ub} cfPsf] kl/of]hgf tyf eljiodf
;~rfngdf cfpg] xf]6n÷l/;f]6{, PDo"hd]G6 kfs{ nufotsf kl/of]hgfx? dfkm{t 3'd3fd tyf ;fxl;s
sfo{sf] nflu cfpg] ko{6sx?, wfld{s cf:yf af]s]/ cfpg] eQmhgx? tyf ljleGg lxd>[vnf tyf lxdfn,
kxf8sf] b[zofjnf]sg, lxpFsf] l:s v]n, ljleGg h/La'6L tyf u'/fF;sf] cWoog cg';Gwfg nufPt 6«]lsËsf]
;fy} s]jnsf/ r9]/ dHhflng] wfld{s tyf jftfj/0fLo ko{6sx?sf] uGtJosf] ?kdf ljslzt sfln~rf]s
If]qdf eujtL bz{g tyf ;dofg's'n klj{tg x'g] To; If]qsf] jftfj/0fn] g]kfnsf] Oltxf;df rf;f] /fVg]
;/f]sf/jfnx? tyf ljleGg kfl/jfl/s tyf ;fdflhs pT;jx? DfgfO{ dgf]/d k|fs[lts jftfj/0fdf
nfnlot x'g cfpg] ;dfhsf aRrf b]lv a'9fa'9L;Ddsf JolQmx?nfO{ cfs{lift ug]{ dg]f/d0fLo :ynsf]
?kdf o; sfln~rf]s bz{g lnld6]8sf] ljsf; tyf k|j4{g ePsfn] o; If]qdf cfGtl/s tyf afXo
ko{6sx? cfpg] qmd oyfjt ?kdf hf/L /xg] tyf qmdz a9\b} hfg] ePsfn] cfly{s hf]lvd sd x'g]
Joj:yfkgsf] wf/0ff /x]sf] 5 . hf]lvd Joj:yfkgsf nflu sDkgLn] cjnDag u/]sf l;4fGtx? lgDg
pNn]lvt 5g\ M
 Hff]lvd / k|ltkmn aLr ;Gt'ng .
 cg'zfl;t / ;+oldt hf]lvd jxg .
 efjL hf]lvdx?sf] k"jf{g'dfg tyf hf]lvdx?sf] pko'Qm hfgsf/L .
 k|ltikwf{Tds Ifdtf clej[l4sf nflu hf]lvdx?sf] s'zn tyf k|efjsf/L Joj:yfkg Pj+ lgoGq0f
.
 k|ljlwnfO{ yk ;'/lIft / cfw'lglss/0f .
 bIo hgzQmLsf] ljsf; .
 ;/sf/n] cjnDag u/]sf :jf:Yo ;DaGwL dfkb08nfO{ s8fO{sf ;fy kfngf .
 sDkgLsf ef}lts ;+/rgfx? tyf d]lzg/L kf6k"hf{x? nufot cGo ;DklQx?sf] ;Defljt
hf]lvdnfO{ Go"lgs/0fsf nflu aLdf ;DaGwL Joj:yf u/]sf] 5 . o;sf ;fy} sDkgLdf sfo{/t
sd{rf/Lx?sf] cf}ifwL pkrf/ tyf b'3{6gf aLdf tyf s]a'nsf/df ofqf ug]{ ofq'x?sf] hf]lvd
aLdf ul/Psf] 5 .
l;+ g+= ljj/0f /sd -?=_ aLdf n]v ;dfKt

ldlt*
!= s]a'nsf/ s]a'nsf/ / s]a'nsf/sf] cf}hf/ %,%),^@,(%% hgj/L !(, @)@#
s]a'nsf/sf] a6d :6]zg *,)),)),))) hgj/L !(, @)@#
s]a'nsf/sf] 6k :6]zg &,)),)),))) hgj/L !(, @)@#
s]a'nsf/ :6]zgsf] l;len js{, ejg $,(@,)^,))) hgj/L !(, @)@#
tyf ljB'lto cf}hf/x?
20
kmlg{r/ tyf sfof{no pks/0f !^,)),#$# hgj/L !(, @)@#
d]lzg]/L / c? oGqx? !&,&$,(*,^)$ hgj/L !(, @)@#
ljB'lto ;fdfu|L–ef]N6]haf6 x'g] Iflt @)),)),))) hgj/L !^, @)@#
36fpg
@= Uff8Lx? 6«fS6/ u ! 6 $**$ *,!),))) hgj/L #!, @)@#
dlxGb«f lhk af !& 5 #)( !%,^*,))) km]a|'c/L !), @)@#
dlxGb«f P08 dlxGb«f :sf]lk{of] af @! 5 $$,!%,))) h'g @!, @)@#
()&(
#= df]6/;fOsn xf]08f ;fOg af *! k ^^!# !,)),))) h'g @*, @)@#
$= ofqL / JolStut÷;d'x s]ansf/ ofqL !),)),))) k|lt hgj/L !^, @)@#
sd{rf/L ofqL
sd{rf/L d]l8sn ladf !,)),))) k|lt km]a|'c/L @@, @)@#
JolSt
;d'x b3{6gf ljdf – sd{rf/L &,)),))) k|lt km]a|'c/L @@, @)@#
JolSt
gf]6 * M dfly pNn]lvt ladf n]vsf] ;dofjlw ;dfKt ePsf] v08df gljs/0f ul/g]5 .
lwtf]kq d"No kl/jt{g ;DaGwL hf]lvd M
k|lt z]o/ c+lst d"No ?=!))÷– b/n] lgisf;g ul/Psf] z]o/ d"Non] ;"rLs/0f kZrft\ g]kfn :6s
PS;r]Gh lnld6]8df x'g] sf/f]jf/ d"No ghgfpg] ePsf]n] z]o/ d"Nodf x'g ;Sg] kl/jt{gsf] hf]lvd /x]sf]
5.
u=( ljQLo ljj/0f
u=(=s= ljQLo ljj/0f / tT;DaGwdf Joj:yfkgsf] wf/0ff / ljZn]if0f M
-s_ ;+ul7t ;+:yfsf] n]vfk/LIf0f ePsf] kl5Nnf] cfly{s jif{sf] jf;nft, gfkmf-gf]S;fg lx;fa
afF8kmfF8, gub k|jfx ljj/0f M o; sDkgLsf] cf=j=@)&&÷)&* sf] n]vfkl/If0f ePsf] jf;nft,
gfkmf—gf]S;fg lx;fa tyf gfkmf—gf]S;fg afF8kmfF8 lx;fa vftfsf] oyfy{ ¿k/]vf o; k|sf/ 5 M
jf;nft
->fj0f !, @)&& b]lv cfiff9 #!, @)&*_ /sd ?=
ljj/0f cf=j @)&&÷&*

;DklQ
:yL/ ;DklQ
;DklQ, Knf06 tyf d]l;g/L 395,222,186
cd"t{ ;DklQ 1,844,589
k"FhLut sfo{ k|utL (Capital Work in Progress) 6,670,563
:yug s/ ;DklQ -
cGo :yL/ ;DklQ -
:yL/ nufgL 300,000
Rffn" ;DklQ
ljlQo ;DklQ
Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 4,751,351
gub jf ;f] ;/x 3,159,654
cGo ljlQo ;DklQ 611,486
cGo Rffn" ;DklQ 54,602,049
HfDdf ;DklQ 467,161,877
21
k"FhL tyf bfloTj
z]o/ k"FhL 295,000,000
cGo k'FhL
sN; Og P8efG; -
hu]8f sf]if tyf ;l~rtL (64,458,652)
:yL/ bfloTj
bL3{sfnLg C0f 202,784,208
:yug s/ bfloTj -v'b_ 13,297,524
rfn' bfloTj
ljlQo bfloTj
6«]8 / cGo bfloTj 1,538,796
cNksfnLg C0f -
u}/ jt{dfg bfloTjx?sf] jt{dfg cj:yf (Current portion of
non-current liabilities) 19,000,000
cGo bfloTj -
HfDdf k"FhL tyf bfloTj 467,161,877
gfkmf– gf]S;fg lx;fa / cGo lj:t[t cfDbfgL

->fj0f !, @)&& b]lv cfiff9 #!, @)&*_ /sd ?=
cf=j
ljj/0f
@)&&.&*
cfDbfgL
;~rfng cfDbfgL 36,939,155
cfDbfgL nfut 3,475,738
s'n ;~rfng cfDbfgL 33,463,418
vr{x?
sd{rf/L vr{ 3,112,988
x|f;sl§ 14,501,247
cGo vr{ 6,229,217
;~rflnt gfkmf÷gf]S;fg 9,619,966
cGo cfDbfgL 315,699
ljlQo nfut 14,576,365
s/ cl3sf] gfkmf÷gf]S;fg (4,640,700)
s/ -
:yug s/ cfDbfgL÷-vr{_ (2,829,366)
v'b gfkmf÷-gf]S;fg_ (7,470,066)
k|lt z]o/ cfDbfgL
cfwf/e"t k|lt z]o/ cfDbfgL (2.53)
8fOn'6]8 k|lt z]o/ cfDbfgL (2.53)
cGo lj:t[t cfDbfgL

22
k'gd{"Nof+sg clwz]if df kl/jt{g -
cGo lj:t[t cfDbfgL dfkm{t plrt d'Nodf dfkg u/L ljQLo ;DklQdf gfkmf tyf 3f6f -
of] jif{sf] cGo lj:t[t cfDbfgL -
s'n gfkmf÷-gf]S;fg_ / cGo lj:t[t cfDbfgL (7,470,066)
gub k|jfx ljj/0f

->fj0f !, @)&& b]lv cfiff9 #!, @)&*_ /sd ?=
ljj/0f cf=j @)&&.&*
s_ ;~rfng ultljlwaf6 gub k|jfx
rfn' jif{sf] v'b gfkmf÷-gf]S;fg_ (7,470,066)
;dfof]hg M
;DklQ, Knf06 tyf d]l;g/Ldf x|f; 14,501,247
:yug s/ bfloTj 2,829,366

Yfk M k|f/lDes vr{ ckn]vg (Preliminary Expenses Written -
off)
36 M l:y/ ;DklQsf] laqmLdf nfe -
yk M s/sf] k|fjwfg -
Rffn' k"FhLdf ;dfof]hg (Working Capital Adjustment)

cGo ljlQo ;DklQdf -yk_÷36 (115,000)
Jofkf/ k|fKtLx?÷cf;fdLx? (Trade receivable) df 783,960
-Yfk_÷36
Jofkf/ bfloTjx? (Trade Payables) df yk÷-36_ (1,553,009)
rfn' ;DklQdf -yk_÷36 (10,872,836.84)
cGo rfn' bfloTjdf yk÷-36_ -

u}/ jt{dfg bfloTjx?sf] jt{dfg cj:yf (Current portion of 14,311,015.17
non-current liabilities) df yk÷-36_
;~rfng ultljlwaf6 v'b gub k|jfx -s_ 26,991,040
v_ nufgL ultljlwsf] gub k|jfx

;DklQ, KnfG6 tyf d]lzg/Ldf -yk_÷36 (4,444,097)
l:y/ nufgL -yk_÷36 -
nufgL ultljlwaf6 v'b gub k|jfx -v_ (4,444,097)
u_ ljQLo ultljlwsf] gub k|jfx

k'FhLdf yk÷-36_ -
Zf]o/ sN; Og P8efG; df yk÷-36_ -
pwf/f] -e'QmfgL_ ÷ k|fKtL -v'b_ (9,950,000)
Jofh e'QmfgL (14,576,365)
23
ljlQo ultljlwaf6 v'b gub k|jfx -u_ (24,526,365)
gub / gub df}Hbftdf yk÷-36_ -s±v±u_ (1,979,422)
jif{sf] z'?df gub / gub df}Hbft 5,139,075
jif{sf] cGTodf gub / gub df}Hbft 3,159,654
-v_ ;~rfng cjlw tLg jif{ JotLt e};s]sf] cj:yfdf ljut tLg jif{sf] / tLg jif{ JotLt
e}g;s]sf] cj:yfdf ;+rfng cjlwe/sf] n]vfk/LIf0f ePsf] gfkmf gf]S;fg, jf;nft, gub k|jfx
ljj/0f ;lxtsf] ;+lIfKt ljQLo ljj/0f M
sDkgLsf] ljut # jif{sf] n]vfk/LIf0f ePsf] ljQLo ljj/0fx? b]xfo adf]lhd /x]sf] 5 M
jf;nft
cf=j @)&%÷&^ cf=j @)&^÷&& cf=j @)&&÷&*
ljj/0f
;DklQ
:yL/ ;DklQ
;DklQ, Knf06 tyf d]l;g/L 408,298,568 408,225,029 395,222,186
cd"t{ ;DklQ - 2,305,736 1,844,589
k"FhLut sfo{ k|utL (Capital Work in
Progress) - 3,263,723 6,670,563
:yL/ nufgL 300,000 300,000 300,000
Rffn" ;DklQ
ljlQo ;DklQ
Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 9,704,779 5,535,311 4,751,351
gub jf ;f] ;/x 9,387,659 5,139,074 3,159,654
cGo ljlQo ;DklQ 5,000 496,486 611,486
cGo Rffn" ;DklQ 45,330,844 43,729,212 54,602,049
HfDdf ;DklQ 473,026,850 468,994,571 467,161,877
k"FhL tyf bfloTj
z]o/ k"FhL 152,000,000 295,000,000 295,000,000
cGo k'FhL
sN; Og P8efG; 48,000,000 - -
hu]8f sf]if tyf ;l~rtL (36,198,350) (56,988,586) (64,458,652)
:yL/ bfloTj
bL3{sfnLg C0f 283,322,193 212,734,208 202,784,208
:yug s/ bfloTj -v'b_ 4,419,726 10,468,158 13,297,524
rfn' bfloTj
ljlQo bfloTj
6«]8 / cGo bfloTj 2,882,474 3,091,805 1,538,796
cNksfnLg C0f - - -
u}/ jt{dfg bfloTjx?sf] jt{dfg cj:yf
(Current portion of non-current 18,600,807 4,688,985 19,000,000
24
liabilities)
cGo bfloTj - - -
HfDdf k"FhL tyf bfloTj 473,026,850 468,994,571 467,161,877
Gffkmf gf]S;fg lx;fa / cGo lj:t[t cfDbfgL

ljj/0f cf=j @)&%÷&^ cf=j @)&^÷&& cf=j @)&&÷&*
cfDbfgL
;~rfng cfDbfgL 36,366,345 37,212,655 36,939,155
cfDbfgL nfut 6,311,511.97 4,281,655 3,475,738
s'n ;~rfng cfDbfgL 30,054,833.03 32,931,000 33,463,418

vr{x?
sd{rf/L vr{ 2,683,965.90 5,109,730 3,112,988
x|f;sl§ 9,570,676 14,676,833 14,501,247

cGo vr{ 13,037,476.01 9,241,105 6,229,217
;~rflnt gfkmf÷gf]S;fg 4,762,715 3,903,332 9,619,966
cGo cfDbfgL 862,260 1,032,993 315,699
ljlQo nfut 15,897,355.16 19,678,129 14,576,365
s/ cl3sf] gfkmf÷gf]S;fg (10,272,380) (14,741,803) (4,640,700)
:yug s/ cfDbfgL÷-vr{_ (4,311,773) (6,048,433) (2,829,366)
v'b gfkmf÷-gf]S;fg_ (14,584,152) (20,790,236) (7,470,066)
k|lt z]o/ cfDbfgL
cfwf/e"t k|lt z]o/ cfDbfgL (10) (7.05) (2.53)
8fOn'6]8 k|lt z]o/ cfDbfgL (10) (7.05) (2.53)
cGo lj:t[t cfDbfgL
k'gd{"Nof+sg clwz]if df kl/jt{g - - -
cGo lj:t[t cfDbfgL dfkm{t plrt d'Nodf dfkg - - -
u/L ljQLo ;DklQdf gfkmf tyf 3f6f
of] jif{sf] cGo lj:t[t cfDbfgL - - -
s'n gfkmf÷-gf]S;fg_ / cGo lj:t[t cfDbfgL (14,584,152) (20,790,236) (7,470,066)
Gfub k|jfx ljj/0f

ljj/0f cf=j @)&%÷&^ cf=j @)&^÷&& cf=j @)&&÷&*
rfn' jif{sf] v'b gfkmf÷-gf]S;fg_ (14,584,152) (20,790,236) (7,470,066)
;dfof]hg M
;DklQ, Knf06 tyf d]l;g/Ldf x|f; 9,570,676 14,676,833 14,501,247
ljlQo nfut 15,897,355 19,678,129 14,576,365
:yug s/ bfloTj 4,311,773 6,048,433 2,829,366
25
Rffn' k"FhLdf ;dfof]hg (Working
Capital Adjustment)
cGo ljlQo ;DklQdf -yk_÷36 2,537,765 (491,486) (115,000)
Jofkf/ k|fKtLx?÷cf;fdLx? (Trade (7,636,861) 4,169,468 783,960
receivable) df -Yfk_÷36
Jofkf/ bfloTjx? (Trade Payables) (7,294,671) 209,331 (1,553,009)
df yk÷-36_
rfn' ;DklQdf -yk_÷36 - 1,601,632 (10,872,836.84)
cGo rfn' bfloTjdf yk÷-36_ (7,294,670.60) - -

u}/ jt{dfg bfloTjx?sf] jt{dfg
cj:yf (Current portion of non- (8,600,806.79) (13,911,821.96) 14,311,015.17
current liabilities) df yk÷-36_
;~rfng ultljlwaf6 v'b gub k|jfx - 11,402,691 11,190,282 26,991,040
s_
;DklQ, KnfG6 tyf d]lzg/Ldf - (104,974,297) (20,172,752) (4,444,097)
yk_÷36
l:y/ nufgL -yk_÷36 3,991,230 - -
nufgL ultljlwaf6 v'b gub k|jfx - (100,983,067) (20,172,752) (4,444,097)
v_
k'FhLdf yk÷-36_ - 143,000,000 -
Zf]o/ sN; Og P8efG; df yk÷-36_ 16,861,000 (48,000,000) -
pwf/f] -e'QmfgL_ ÷ k|fKtL -v'b_ 96,098,193 (70,587,985) (9,950,000)
Jofh e'QmfgL (15,897,355) (19,678,129) (14,576,365)
ljlQo ultljlwaf6 v'b gub k|jfx -u_ 97,061,838 4,733,887 (24,526,365)

gub / gub df}Hbftdf yk÷-36_ - 7,481,462 (4,248,584) (1,979,422)
s±v±u_
jif{sf] z'?df gub / gub df}Hbft 1,906,196 9,387,659 5,139,075
jif{sf] cGTodf gub / gub df}Hbft 9,387,658 5,139,074 3,159,654
-u_ cfly{s aif{ ;dfKt ePsf] ^ dlxgf kZrft ljj/0fkq :jLs[ltsf] nfuL k]z u/]df pQm cGtl/d cjlwsf]
nflu n]vfkl/Ifsaf6 k|dfl0ft u/]sf] ckl/is[t ljlQo ljj/0f M
cfly{s aif{ @)&*/&( sf] c;f/ d;fGtsf] cfGtl/s n]vfkl/Ifsaf6 k|dfl0ft ckl/is[t ljlQo ljj/0f o; k|sf/
/x]s]f 5 .
jf;nft /sd ?=
ljj/0f ckl/is[t c;f/ d;fGt @)&(
;DklQ
:yL/ ;DklQ
;DklQ, Knf06 tyf d]l;g/L 383,853,924
26
cd"t{ ;DklQ 1,383,442
k"FhLut sfo{ k|utL (Capital Work in Progress) 9,379,138
:yug s/ ;DklQ -
cGo :yL/ ;DklQ -
:yL/ nufgL 300,000
Rffn" ;DklQ -
ljlQo ;DklQ -
Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 20,147,074
gub jf ;f] ;/x 4,700,433
cGo ljlQo ;DklQ 611,486
cGo Rffn" ;DklQ 228,458,515
HfDdf ;DklQ 648,834,012
k"FhL tyf bfloTj
z]o/ k"FhL 480,000,000
cGo k'FhL -
sN; Og P8efG; -
hu]8f sf]if tyf ;l~rtL (51,166,463)
:yL/ bfloTj -
bL3{sfnLg C0f 189,784,208
:yug s/ bfloTj -v'b_ 16,331,797
rfn' bfloTj -
ljlQo bfloTj -
6«]8 / cGo bfloTj 884,470
cNksfnLg C0f -
u}/ jt{dfg bfloTjx?sf] jt{dfg cj:yf (Current portion of non-current 13,000,000
liabilities)
cGo bfloTj -
HfDdf k"FhL tyf bfloTj 648,834,012
*Gff]6 M cGo rfn' ;DklQsf] ljj/0f

ljj/0f ckl/is[t c;f/ d;fGt @)&(
clu|d d'=c=s= e'QfgL 31,577,561
clu|d s/ e'QfgL 680,955
k]ZsL tna -
d'4lt lgIf]k-d]uf a}+s_ 20,000,000
d'4lt lgIf]k -g]kfn P;=la=cfO{ a}+s_ 161,200,000
d'4lt lgIf]k-;g/fOh a}+s_ 15,000,000
27
hDdf 228,458,516
Gffkmf gf]S;fg lx;fa / cGo lj:t[t cfDbfgL /sd ?=

ckl/is[t c;f/ d;fGt
ljj/0f @)&(
cfDbfgL
;~rfng cfDbfgL 56,767,592
cfDbfgL nfut 2,430,290
s'n ;~rfng cfDbfgL 54,337,303
vr{x?
sd{rf/L vr{ 7,373,759
x|f;sl§ 14,752,880
cGo vr{ 8,822,813
;~rflnt gfkmf÷gf]S;fg 23,387,850
cGo cfDbfgL 13,792,034
s/ cl3sf] gfkmf÷gf]S;fg 17,889,354
s/ (1,562,893)
:yug s/ cfDbfgL÷-vr{_ (3,034,273)
v'b gfkmf÷-gf]S;fg_ 13,292,188
k|lt z]o/ cfDbfgL
cfwf/e"t k|lt z]o/ cfDbfgL 2.77
8fOn'6]8 k|lt z]o/ cfDbfgL 2.77
cGo lj:t[t cfDbfgL

k'gd{"Nof+sg clwz]if df kl/jt{g -
cGo lj:t[t cfDbfgL dfkm{t plrt d'Nodf dfkg u/L ljQLo ;DklQdf gfkmf tyf 3f6f -
of] jif{sf] cGo lj:t[t cfDbfgL -

s'n gfkmf÷-gf]S;fg_ / cGo lj:t[t cfDbfgL 13,292,188
Gfub k|jfx ljj/0f /sd ?=

ckl/is[t c;f/ d;fGt
ljj/0f @)&(
rfn' jif{sf] v'b gfkmf÷-gf]S;fg_ 13,292,188
;dfof]hg M
;DklQ, Knf06 tyf d]l;g/Ldf x|f; 14,752,880
:yug s/ bfloTj 3,034,273
Yfk M k|f/lDes vr{ ckn]vg (Preliminary Expenses Written off) -
36 M l:y/ ;DklQsf] laqmLdf nfe -
28
yk M s/sf] k|fjwfg -
Rffn' k"FhLdf ;dfof]hg (Working Capital Adjustment)

cGo ljlQo ;DklQdf -yk_÷36 -
Jofkf/ k|fKtLx?÷cf;fdLx? (Trade receivable) df -Yfk_÷36 (15,395,723)
Jofkf/ bfloTjx? (Trade Payables) df yk÷-36_ (654,326)
rfn' ;DklQdf -yk_÷36 (173,856,465)

cGo rfn' bfloTjdf yk÷-36_ -
u}/ jt{dfg bfloTjx?sf] jt{dfg cj:yf (Current portion of non-current (6,000,000)

liabilities) df yk÷-36_
;~rfng ultljlwaf6 v'b gub k|jfx -s_ (145,536,643)

;DklQ, KnfG6 tyf d]lzg/Ldf -yk_÷36 (5,632,046)
l:y/ nufgL -yk_÷36 -
nufgL ultljlwaf6 v'b gub k|jfx -v_ (5,632,046)

k'FhLdf yk÷-36_ 185,000,000
Zf]o/ sN; Og P8efG; df yk÷-36_ -
pwf/f] -e'QmfgL_ ÷ k|fKtL -v'b_ (13,000,000)
Jofh e'QmfgL (19,290,530)
ljlQo ultljlwaf6 v'b gub k|jfx -u_ 152,709,470
gub / gub df}Hbftdf yk÷-36_ -s±v±u_ 1,540,781
jif{sf] z'?df gub / gub df}Hbft 3,159,653

jif{sf] cGTodf gub / gub df}Hbft 4,700,434
-3_ cfDbfgL / vr{ lx;fjsf] s'g} zLif{sdf 7'nf] dfqfdf kl/jt{g ePdf To;sf] ljZn]if0ffTds sf/0f M ;f]
gePsf] .
-ª_ kl5Nnf] ljQLo ljj/0fsf] n]vfk/LIf0f eP kZrft ;+ul7t ;+:yfsf] sf/f]af/, gfkmf gf]S;fg,;DklQsf]
d'No jf cfufdL !@ dlxgfsf] bfloTj e'QmfgLdf c;/ kg]{ u/L s'g} cj:yf l;h{gf ePsf] 5÷5}g ;f]
;DaGwdf ;+rfnsx?sf] wf/0ff M ;f] gePsf] .
-r cfly{s jif{ ;dfKt ePkl5 ljj/0fkq k]z u/]df, ljj/0fkq k]z u/]sf] ldltaf6 :jLs[lt x'g]
ldlt;Dddf jf;nftsf] ldlt kl5sf] 36gfsf] af/]df 5'§} hfgsf/L ljj/0fkqdf ;dfj]z ug'{kg]{ M ;f]
gePsf] .
-5_ ljut % jif{df ;DklQsf] k'gd"{Nof+sg ul/Psf] 5÷5}g, olb ul/Psf] eP -c_ ;DklQsf] ljj/0f -cf_
;DklQsf] k'gd"{Nof+sg cl3 / kl5sf] lstfjL d"No -O{_ k'gd"{Nof+sgsf] cf}lrTo M ;f] gePsf] .
29
-h_ cfufdL tLg jif{sf] k|If]lkt jf;nft, gfkmf gf]S;fg lx;fasf ;fy} To;sf u0fgfsf] cfwf/x? M
sDkgLsf] cfufdL # cfly{s jif{sf] nflu k|If]lkt ljQLo l:ylt b]xfo adf]lhd /x]sf] 5 M
k|If]lkt jf;nft /sd ?=

ljj/0f cf=j=2079/80 cf=j=2080/81 cf=j=2081/82
;DklQ
:yL/ ;DklQ
;DklQ, Knf06 tyf d]l;g/L 526,299,225 515,353,579 679,677,057
cd"t{ ;DklQ 922,295 461,148 -
k"FhLut sfo{ k|utL (Capital Work in 2,708,575 87,362,863 -

Progress)
:yug s/ ;DklQ - - -
cGo :yL/ ;DklQ - - -
:yL/ nufgL 300,000 300,000 300,000
Rffn" ;DklQ - - -
ljlQo ;DklQ - - -
Jofkf/ tyf cGo k|fKtLx?÷cf;fdLx? 2,329,642 2,562,606 2,818,867
gub jf ;f] ;/x 4,533,289 4,795,874 5,418,544

cGo ljlQo ;DklQ 670,055 1,191,405 1,307,965
cGo Rffn" ;DklQ 130,927,658 93,418,639 41,869,638
HfDdf ;DklQ 668,690,738 705,446,114 731,392,071
k"FhL tyf bfloTj
z]o/ k"FhL 600,000,000 600,000,000 600,000,000
cGo k'FhL - - -
sN; Og P8efG; - - -
hu]8f sf]if tyf ;l~rtL (23,973,532) 31,210,480 82,967,873
:yL/ bfloTj - - -
bL3{sfnLg C0f 63,650,036 42,720,531 15,120,159
:yug s/ bfloTj -v'b_ 21,748,945 26,325,395 30,559,060
rfn' bfloTj - - -
ljlQo bfloTj - - -
6«]8 / cGo bfloTj 900,286 917,654 1,700,970
cNksfnLg C0f - - -
u}/ jt{dfg bfloTjx?sf] jt{dfg cj:yf

(Current portion of non-current 6,365,004 4,272,053 1,044,008
liabilities)
30
cGo bfloTj - - -
HfDdf k"FhL tyf bfloTj 668,690,738 705,446,114 731,392,071
k|If]lkt Gffkmf gf]S;fg lx;fa / cGo lj:t[t cfDbfgL

/sd ?=
ljj/0f cf=j=2079/80 cf=j=2080/81 cf=j=2081/82
cfDbfgL
;~rfng cfDbfgL 68,153,413 104,878,729 201,616,239
cfDbfgL nfut 4,809,623 5,290,585 24,929,644
s'n ;~rfng cfDbfgL 63,343,790 99,588,144 176,686,595
vr{x?
sd{rf/L vr{ 6,687,631 7,356,394 8,092,033
x|f;sl§ 15,086,408 16,406,793 22,737,670
cGo vr{ 9,347,595 10,282,354 11,310,589
;~rflnt gfkmf÷gf]S;fg 32,222,156 65,542,603 134,546,302
cGo cfDbfgL 10,746,868 7,858,898 2,987,733
ljlQo nfut 4,604,224 3,095,075 1,073,967
s/ cl3sf] gfkmf÷gf]S;fg 38,364,800 70,306,426 136,460,068
s/ (5,754,720) (10,545,964) (20,469,010)
:yug s/ cfDbfgL÷-vr{_ (5,417,148) (4,576,451) (4,233,665)
v'b gfkmf÷-gf]S;fg_ 27,192,932 55,184,012 111,757,393
k|lt z]o/ cfDbfgL
cfwf/e"t k|lt z]o/ cfDbfgL 4.53 9.20 18.63
8fOn'6]8 k|lt z]o/ cfDbfgL 4.53 9.20 18.63
cGo lj:t[t cfDbfgL
k'gd{"Nof+sg clwz]if df kl/jt{g - - -
cGo lj:t[t cfDbfgL dfkm{t plrt d'Nodf - - -

dfkg u/L ljQLo ;DklQdf gfkmf tyf 3f6f
of] jif{sf] cGo lj:t[t cfDbfgL - - -

s'n gfkmf÷-gf]S;fg_ / cGo lj:t[t cfDbfgL 27,192,932 55,184,012 111,757,393
k|If]lkt gub k|jfx ljj/0f /sd ?=

ljj/0f cf=j=2079/80 cf=j=2080/81 cf=j=2081/82
rfn' jif{sf] v'b gfkmf÷-gf]S;fg_ 27,192,932 55,184,012 111,757,393
;dfof]hg M
;DklQ, Knf06 tyf d]l;g/Ldf x|f; 15,086,408 16,406,793 22,737,670
ljlQo nfut 4,604,224 3,095,075 1,073,967

31
:yug s/ bfloTj 5,417,148 4,576,451 4,233,665
Yfk M k|f/lDes vr{ ckn]vg
(Preliminary Expenses Written - - -
off)
36 M l:y/ ;DklQsf] laqmLdf nfe - - -
yk M s/sf] k|fjwfg - - -
Rffn' k"FhLdf ;dfof]hg (Working

Capital Adjustment)
cGo ljlQo ;DklQdf -yk_÷36 (58,569) (521,350) (116,560)
Jofkf/ k|fKtLx?÷cf;fdLx? (Trade 17,817,433 (232,964) (256,261)

receivable) df -Yfk_÷36
Jofkf/ bfloTjx? (Trade Payables) 15,816 17,368 783,316
df yk÷-36_
rfn' ;DklQdf -yk_÷36 97,530,857 37,509,019 51,549,001
cGo rfn' bfloTjdf yk÷-36_ - - -
u}/ jt{dfg bfloTjx?sf] jt{dfg

cj:yf (Current portion of non- (6,634,996) (2,092,950) (3,228,045)
current liabilities) df yk÷-36_
;~rfng ultljlwaf6 v'b gub 160,971,253 113,941,452 188,534,146
k|jfx -s_
;DklQ, KnfG6 tyf d]lzg/Ldf - (150,400,000) (89,654,288) (99,237,137)
yk_÷36
l:y/ nufgL -yk_÷36 - - -
nufgL ultljlwaf6 v'b gub k|jfx - (150,400,000) (89,654,288) (99,237,137)

v_
k'FhLdf yk÷-36_ 120,000,000.00 - -
Zf]o/ sN; Og P8efG; df yk÷- - - -
36_
pwf/f] -e'QmfgL_ ÷ k|fKtL -v'b_ (126,134,172) (20,929,505) (27,600,371)
Jofh e'QmfgL (4,604,224) (3,095,075) (1,073,967)
nfe+; - - (60,000,000)
ljlQo ultljlwaf6 v'b gub k|jfx - (10,738,396) (24,024,580) (88,674,338)

u_
gub / gub df}Hbftdf yk÷-36_ - (167,143) 262,585 622,670
s±v±u_
jif{sf] z'?df gub / gub df}Hbft 4,700,432 4,533,289 4,795,874
jif{sf] cGTodf gub / gub df}Hbft 4,533,289 4,795,874 5,418,544
32
ljQLo cg'kft M
ljj/0f 2079-80 2080-81 2081-82
cfos/ cl3sf] d'gfkmf 42,969,024 73,401,501 137,534,034
k'FhL kl/rfng 639,677 673,931,011 698,088,032
k'FhL kl/rfngdf cfDbfgL 7% 11% 20%
C0f k'FhL cg'kft 11% 7% 2%
kF'hLdf cfDbfgL 5% 9% 16%
v'b k|lt z]o/ d'No 96 105.2 114%
v'b gfkmfdf dflh{g 40% 53% 55%
** k|If]lkt ljQLo ljj/0f sDkgL cfkm}n] tof/ kf/]sf] xf] / ;f] ljQLo ljj/0fx? k'g/fjnf]sg u/L l7s 5 egL
k|zf+s P08 P;f]l;P6\;, rf6{8{ Psfp06]G6;\af6 k|dfl0ft ul/Psf] 5 .
ljQLo k|If]k0fsf cfwf/ tyf tl/sfx? M
k|If]lkt Jff;nftsf cfwf/x?
cf=j= cf=j= cf=j=

cfwf/
ljj/0f @)&(÷*) @)*)÷*! @)*!÷*@
k|ltztdf j[l¢ jf k|ltztsf] cfwf/
k|fKt k'Flhaf6
l;:6d cku]|8 /
;DklQ, Knf06 tyf ;DklQ sf] 150,400,000 89,654,288 99,237,137 xf]6n lgdf{0fsf]
d]l;g/L ljljwtf
nflu :yL/
;DklQdf yk
0% 0% 0%
cd"t{ ;DklQdf
cd"t{ ;DklQ yk gul/Psf]
k"FhLut sfo{ k|utL xf]6n lgdf{0f xf]6n lgdf{0fsf]
(Capital Work in 0% 0% 0%
Progress) sfo{ nfut
:yL/ nufgL PlShd sf]8 0% 0% 0% Jf[l4 g/x]sf]
ljlQo ;DklQ
Jofkf/ tyf cGo 3% 2% 1% lalqmsf] k|ltzt
k|fKtLx?÷cf;fdLx?
gub jf ;f] ;/x 7% 5% 3% lalqmsf] k|ltzt
cGo ljlQo ;DklQ 1% 1% 1% lalqmsf] k|ltzt
33
clu|d
d'=c=s/ -4% -25% -7% k|ltztdf 36
e'QfgL
clu|d s/ 5% 5% 5% k|ltztdf yk
cGo Rffn" ;DklQ e'QfgL
gub k|jfx
Joj:yfkg /
d'4lt lgIf]k 100,000,000 70,000,000 20,000,000 lglis|o sf]ifsf]
pkof]u
xsk|b lgisfzg
z]o/ k"FhL - - / IPO sf]
120,000,000
k'FhLaf6 j[l4
bL3{sfnLg C0f - - -
:yug s/ bfloTj -v'b_ - - -
ljlQo bfloTj
6«]8 / cGo bfloTj 6% 6% 5%
cNksflng C0f - - -
z]o/wgLx?nfO{ nfe
af]g; z]o/ - - -
10% 20%
Nffef+z ljt/0f
Nffef+z Ifdtf
k|If]lkt gfkmf gf]S;fgsf cfwf/x?
cf=j= cf=j= cf=j=

ljj/0f k|If]k0fsf cfwf/x?
@)&(÷)*) @)*)÷)*! @)*!÷)*@
ljlqm
Kffx'gfsf] ;+Vof 141,790 198,506 209,725 ljlqm l/kf]6{ cg';f/
Kffx'gfsf] ;+Vofdf j[l4 20% 40% 5.65%

cg'kft
cfly{s jif{df sDkgL
;Grfng x'g] cjlw - 12 12 12
dlxgfdf_
l6s6sf] d"No 500 550 550 ;fdfGo b'O{tkmL{ d'No
l6s6 ljlqm cfDbfgL 68,153,413 104,878,729 110,596,239 ljlqm l/kf]6{ cg';f/
xf]6n cfDbfgL - - - ;+nUg ljlqm l/kf]6{ cg';f/
a]r]sf] ;fdfgsf]
nfut (COGS)
34
kl5Nnf] @ jif{df xf]6n tyf
:yfgLo vl/b - - 30% /]i6'/]G6sf] ljlqm l/kf]6{ cg';f/ #)%
sf] nfut
k|ltztdf j[l4 . kl5Nnf] @ jif{sf]

Hofnf / tna 10% 30% 30% nflu xf]6n tyf /]i6'/]G6sf] ljqmLsf]
@)% klg nfutdf ylkPsf] .
l6s6 5kfO{ vr{ 10% 10% 10% k|ltztdf j[l4 .

OGwg -k|ToIf_ 10% 10% 10% k|ltztdf j[l4 .
lah'nL vr{ -k|ToIf_ 10% 10% 10% k|ltztdf j[l4 .
cGo cfDbfgL
ljljw cfDbfgL 15% 15% 15% k|ltztdf j[l4 .
10% 10% 10%

d'4lt vftfdf cf};t Aofh !)
Aofh cfDbfgL k|ltzt lnOPsf] .
sd{rf/L vr{
sd{rf/L nfe vr{ 10% 10% 10% k|ltztdf j[l4 .
cGo ;+rfng vr{
n]vfk/LIf0f vr{ 10% 10% 10% k|ltztdf j[l4 .

lj1fkg vr{ 10% 10% 10% k|ltztdf j[l4 .
Jofkf/ k|f]df]zg vr{ 10% 10% 10% :yL/ ;DklQsf] cg'kftdf vr{
k/fdz{ vr{ 10% 10% 10% k|ltztdf j[l4

ljh'nL vr{ 10% 10% 10% k|ltztdf j[l4
e|d0f / ofqf vr{ 10% 10% 10% k|ltztdf j[l4
sfof{no efG5f vr{ 10% 10% 10% k|ltztdf j[l4
OGwg vr{ 10% 10% 10% k|ltztdf j[l4
ladf vr{ 10% 10% 10% k|ltztdf j[l4
OG6/g]6 vr{ 10% 10% 10% k|ltztdf j[l4
sfof{no vr{ 10% 10% 10% k|ltztdf j[l4
sfof{no ef8f vr{ 10% 10% 10% k|ltztdf j[l4
10% 10% 10%

xfnsf] jif{sf] nflu jf:tljs . To;
Vffgf / af; vr{ kl5 k|ltztdf j[l4 .
;ˆ6j]o/ dd{t;Def/ 10% 10% 10% k|ltztdf j[l4

vr{
5kfO{ / :6]zg/L vr{ 10% 10% 10% k|ltztdf j[l4
35
dd{t / dd{t;Def/ 10% 10% 10% k|ltztdf j[l4
vr{ Ans A
vr{ Ans C
vr{ Ans D
;fO{6 e|d0f vr{ 10% 10% 10% k|ltztdf j[l4
6]lnkmf]g / ;+rf/ vr{ 10% 10% 10% k|ltztdf j[l4
btf{ / gljs/0f vr{ 10% 10% 10% k|ltztdf j[l4
j]e;fO6 ljsf; vr{ 10% 10% 10% k|ltztdf j[l4
ljljw vr{ 10% 10% 10% k|ltztdf j[l4

Jfflif{s ;fwf/0f ;ef 10% 10% 10% k|ltztdf j[l4
vr{
;'/Iff vr{ 10% 10% 10% k|ltztdf j[l4
a}7s vr{ 10% 10% 10% k|ltztdf j[l4
s/ vr{ 10% 10% 10% k|ltztdf j[l4
bfg vr{ 10% 10% 10% k|ltztdf j[l4
xf]6nsf cfwf/x?
s'n Ifdtf OsfOx? -sf]7fsf] ;+Vof_ 35
k|lt sf]7f cf};t d"No 5000
clwef]u (Occupancy) 50% 70%
dlxgf ;+Vof 3 9
Ps dlxgfdf lbgsf] ;+Vof 28 28
Jfflif{s sf]7fsf] ljlqm cfDbfgL ?= 38,220,000
Jfflif{s j[l4 10%
/]i6'/]G6sf cfwf/x?
k|lt lbg u|fxs ;+Vof 80
k|lt u|fxs cfDbfgL ?= 2000
Ps jif{df lbgsf] ;+Vof 330
Jfflif{s /]i6'/]G6sf] ljlqm cfDbfgL ?= 52,800,000.00
Jfflif{s j[l4 10%
lgdf{0f nfut – xf]6n

s'n ju{ km'6 24,500
k|lt ju{ km'6 Nffut 6,500
s'n nfut 159,250,000.00
cfsl:dstf (Contingency) 7,350,000.00
36
xf]6n lgdf{0f nfut ?= 166,600,000.00
u=(=v=ljQLo cg'kft ;DaGwL ljj/0f M
-s_ ;~rfng cjlw tLg aif{ AotLt e};s]sf] cj:yfdf ljut tLg aif{sf] / tLg aif{ AotLt e}g;s]sf]
cj:yfdf ;~rfng cjlwsf] tyf cfufdL tLg aif{sf] k|If]lkt k|lt z]o/ cfDbfgL (EPS) tyf k|lt z]o/
g]6jy{ M
sDkgLsf] g]6jy{ tyf k|lt z]o/ cfDbfgLdf ePsf] jf:tljs tyf k|If]lkt cf};t k|ltkmn b]xfo adf]lhd
/x]sf] 5 M
ckl/is[t
jf:tljs c;f/ k|If]lkt
ljj/0f d;fGt
2078/79
2075/76 2076/77 2077/78 2079/80 2080/81 2081/82
k|lt z]o/ g]6jy{ -?=_ 76.19 80.68 78.15 89.34 96 105.2 113.83
k|lt z]o/ cfDbfgL (10) (7.05) (2.53) 2.77 4.53 9.20 18.63
-v_ ljut # aif{sf] g]6jy{df ePsf] cf};t k|ltkmn M
jf:tljs -?=xhf/df_ ckl/is[t c;f/ k|If]lkt -?=xhf/df_**

ljj/0f d;fGt
2075/76 2076/77 2077/78 2078/79 2079/80 2080/81 2081/82
r'Qmf k"FhL 1,52,000 2,95,000 2,95,000 480,000.00 600,000.00 600,000.00 600,000.00
hu]8f tyf sf]ifx? (36,198.35) (56,988.59) (64,458.65) (51,166.46) (23,973.53) 31,210.48 82,967.87
hDdf 1,15,801.65 2,38,011.41 2,30,541.35 428,833.54 576,026.47 631,210.48 682,967.87

36fpg]M ckn]vg ug{ - - - - - - -
afFsL vr{
hDdf g]6jy{ 1,15,801.65 2,38,011.41 2,30,541.35 428,833.54 576,026.47 631,210.48 682,967.87
z]o/ ;+Vof 1,520.00 2,950.00 2,950.00 4,800.00 6,000.00 6,000.00 6,000.00
k|lt z]o/ cfDbfgL -?=_ (10.00) (7.05) (2.53) 2.77 4.53 9.20 18.63
k|lt z]o/ g]6jy{ -?=_ 76.19 80.68 78.15 89.34 96.00 105.20 113.83
v"b gfkmf÷gf]S;fg (14,584.15) (20,790.23) (7,470.06) 13,292.19 27,192.93 55,184.01 111,757.39
g]6jy{df k|ltkmn -Ü_ (12.59) (8.73) (3.24) 5% 9% 16%
# jif{sf] g]6jy{df ePsf] 3%

8.19% 10%
cf}ift k|ltkmn
** k|If]lkt ljQLo ljj/0f ljut jif{sf] cfwf/df sDkgL cfkm}n] tof/ kf/]sf] xf] / ;f] ljQLo ljj/0fx? k'g/fjnf]sg u/L l7s
5 egL k|zf+s P08 P;f]l;P6\;af6 k|dfl0ft ul/Psf] 5 .
u=!)= lwtf]kq lgisfzg ;DaGwL ljj/0f M

u=!)=s= lwtf]kq hf/L ug'{sf] p2]Zo M
lwtf]kq hf/L ug'{sf] p2]Zo cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfx?sf nflu lgisf;g tyf laqmL u/L
:yfgLo afl;Gbfx?nfO{ nufgLsf] cj;/ lbg', j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?sf nflu :jb]zdf g}
nufgLsf] aftfj/0f ;[hgf u/fpg' / sDkgLaf6 yk kl/of]hgf lgdf{0fssf] nflu /sd ;+sng ug'{ o;
lgisfzgsf] d'Vo p2]Zo /x]sf] 5 .
u=!)=v lwtf]kq lgisf;gaf6 k|fKt k'FhLsf] pkof]u
-s_ lgisf;gaf6 k|fKt x'g] s"n /sdnfO{ k|of]u ug]{ If]q ;DaGwL ljj/0f M
37
:yfgLo afl;Gbfx?nfO{ lgisfzgaf6 k|fKt z]o/ k"FhL ?= !,@),)),)))÷–, / ;fj{hlgs lgisfzgaf6
-j}b]lzs /f]huf/Ldf /x]sf g]kfnLaf6 k|fKt z]o/ kF'hL ;d]t_ k|fKt z]o/ k"FhL ?= !),*),)),)))÷–
u/L hDdf ?= !@,)),)),)))÷– /sdnfO{ tkl;n adf]lhd ljj/0fx?df k|of]u ul/g]] 5 M
 g]kfn P;=la=cfO{ a}+s ln= af6 lnOPsf] shf{sf] afFsL /sd / Aofh ?= @),@&,*$,@)*=#*
e'QmfgL ug{ .
 s]jnsf/sf] Ifdtf j[lå ug]{÷xfn s]ansf/ ;+rfng ePsf] :yfgdf g} yk s]jnsf/ tyf lro/
lnkm\6sf] lgdf0f{ ug]{ .
 xf]6n, l/;f]{6 cflb ;+rfngsf] nflu hUuf vl/b ug]{, xf]6n tyf l/;f]{6 nufPtsf ko{6g ;DaGwL
Joj;fo ;+rfng ug]{ .
-v_ ;fj{hlgs lgisf;g ul/g] lwtf]kq k"0f{ ?kdf ljqmL gePdf ;fj{hlgs lgisf;gsf] nflu p2]Zo k|fKtL
ug{sf] nflu ckgfOg] a}slNks Joj:yf M
ljutdf ;f]xL k|sf/sf] cGo sDkgLn] ;j{;fwf/0fx?df z]o/ lgisfzg ubf{ dfu eGbf a9L z]o/sf]
nflu b/vf:t k/]sf] x'gfn] o; sDkgLsf] lgisflzt z]o/x? klg k"0f{ ?kdf ljqmL x'g] sDkgLsf]
wf/0ff /x]sf] 5 .
sy+sbflrt lgisfzg ul/g] z]o/ :yflgo afl;Gbfx?n] k"0f{?kdf vl/b gu/]df afFsL /x]sf] z]o/
;j{;fwf/0fx? -j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?nfO{ 5'6\ofOPsf] ;d]t_ sf nflu lgisfzg ul/g]
z]o/df yk u/L ;f]xL cg'kftdf afF8kmfF8 ul/g]5 . ;j{;fwf/0fx?sf] nflu lgisfzg u/]sf] z]o/ s'g}
sf/0fjz k"0f{ ?kdf laqmL gePdf lwtf]kq k|Tofe'ltstf{{n] vl/b ug]{ u/L ;Demf}tf u/LPsf] 5 .
-u_ kl/of]hgfsf] ;+rfng :yfg, cfof]hgf r/0fa4 ?kdf sfof{Gjog ul/g] eP k|To]s r/0fdf nfUg] vr{,
s'g} r/0f ;dfKt e};s]sf] eP ;f] ;DaGwL ljj/0f M
o; sDkgLaf6 sfln~rf]s ufFpkflnsf, j8f g+= ! s'/L bf]nvf l:yt s]jnsf/ kl/of]hgf lgdf{0f sfo{
;DkGg eO{ ldlt @)&% sflt{s !& ut]af6 ;+rfngdf /x]sf] 5 . @)&* cfiff9 d;fGt;Ddsf] ljj/0f
tn tflnsfdf pNn]v ul/Psf] 5 .
l;=g+= ljj/0f kl/of]hgfdf nfu]sf] kl/of]hgfdf nfUg] kl/of]hgf ;dfKt s}lkmot
vr{ -/sd_ afFsL cg'dflgt e};ssf] eP ;f] sf] ljj/0f
vr{
-/sd_
!= s]a'nsf/ ?= %),)),)),))).– — kl/of]hgf k"0f{ ?kdf IPO lgisfzg

kl/of]hgf -kF"lhs[t Aofh /sd ;DkGg eO{ ldlt @)&% kZrft\ yk #%
;lxt_ sflt{s !& s/f]8 nufgL
b]lv ;~rfngdf cfO{;s]sf] u/L xf]6n,
. /]i6']/G6 tyf
s]jnsf/ /f]k dfu{ ()) cGo kl/of]hgf
ld= 5 / xfn rf/ j6f ;~rfngdf
uf]08f]nf ;~rfngdf 5g\ Nofpg] of]hgf
h;df b}lgs @%)) dfG5] /x]sf] 5 .
cfjt hfjt ug{ ;S5g\ .
-3_ cfof]hgf ;DkGg x'g], kl/If0f pTkfbg z'? x'g] / k"0f{ Jofj;flos pTkfbg z'? x'g ] cg'dflgt ldlt M
s]a'nsf/ kl/of]hgf k"0f{ ?kdf ;DkGg eO{ ldlt @)&% sflt{s !& b]lv ;~rfngdf cfO{;s]sf] .
-ª_ ;+ul7t ;+:yfn] s'g} pks/0f vl/b u/]sf] jf ug{ nfu]sf] eP pQm pks/0fsf] d"No jf k|f:tfljt d"No
;Knfo;{sf] gfd / ;Knfo;{;Fu ;Demf}tf ePsf] eP ;f] sf] d'Vo a"Fbfx? M ;f] gePsf] .
-r_ s'g} kf6L{;Fu k|ltlnlk clwsf/ 6«]8dfs{ Ohfhtkq /f]oN6L ;xsfo{ ;DaGwdf jf ljQLo jf k|fljlws
;Demf}tf ul/Psf] eP ;f] sf] k|d'v zt{x? / kf6L{sf] gfd 7]ufgf ;DaGwL lj:t[t ljj/0f M ;f] gePsf]
.
-5_ pTkfbg ;DaGwL cfof]hgf eP ;f] sf] k|s[lt, k|of]ustf{, k|lt:kwf{, nlIft ;d"x, pTkfbg Ifdtf,
ljutsf jif{x?sf] Ifdtf pkef]u jf eljiodf ul/g] Ifdtf pkef]u ;DaGwL ljj/0f M ;f] gePsf] .
-h_ cfof]hgfsf] nflu cfjZos sRrf kbfy{sf] pknJwtf / To;sf] >f]t M ;f] gePsf] .
38
-em_ cfof]hgfsf] nflu cfjZos x'g] ljB't, kfgL, Uof;sf] dfqf / To;sf] >f]t M ;f] gePsf] .
-`_ ;fj{hlgs lgisf;gsf] nflu ul/g] vr{ k|d'v ?kdf b]xfodf pNn]lvt kIfx?nfO{ lbg] z'Nsx? 5'§f5'§}
?kdf k|:t't ug'{ kg]{ .
-c_ lgisf;g tyf laqmL k|aGws – ?=!,)),)))÷—
-cf_ 6«i6L -l8j]Gr/ lgisf;gsf] xsdf_ – lgisf;g ul/g] l8j]Gr/ geO{ ;fwf/0f z]o/ ePsf] .
-O{_ k|Tofe"ltstf{ z'Ns — ?= !,)),)))÷–
-O_ lj1x?sf] kfl/>lds jf ;]jf z'Ns — ljlQo k|If]k0f k|dfl0ft ul/lbg] ljz]if1 rf6{8{ Psfp06]06
;+:yf k|zf+s P08 P;f]l;P6\; nfO{ ;]jf z'Ns jfkt /sd ?= ##,())÷– -Eof6 ;d]t_ a'emfPsf]
5.
-p_ n]vfkl/Ifssf] z'Ns — n]vfk/LIfs ;fksf]6f P;=P08 P;f]l:fP6;\,rf6{8{ PsfpG6]06;\nfO{ cf=j=
@)&&÷)&* sf] n]vfkl/If0f jfkt ?= &&,)))÷– -Eof6 ;d]t_ z'Ns a'emfOPsf] 5 .
-pm_ cGo -h:t} ;+sng s]Gb|, lgisf;g a}+s cflb_— ;+sng s]Gb|x?n] /sd ;+sng tyf lkmtf{
e'QmfgL u/] afkt -:yfgLo afl;Gbfx?nfO{ lgisfzg ul/g]_ cGo vr{x? ljnsf] cfwf/df e'QmfgL
ul/g] 5 .
u=!)=u= ;fj{hlgs lgisf;gaf6 k|fKt /sdnfO{ kl/of]hgfdf k|of]u ug{ k"j{ cGo s'g} Joj:yf ug{ nfluPsf] 5 eg]
tT;DaGwL ljj/0f M ;f] gePsf] .
u=!)=3= lk|ldoddf lwtf]kq hf/L ug]{ ePdf lk|ldod d"No lgwf{/0f ubf{ ckgfOPsf] ljlw / cf}lrTo M z]o/sf]
d'Nodf lk|ldod yk ul/Psf] 5}g .
u=!)=ª lwtf]kqsf] afF8kmfF8, lkmtf{ e'QmfgL tyf ;"rLs/0f ;DaGwL ljj/0f M
-s_ cToflws dfu jf Go"g dfu ePsf] cj:yfdf afF8kmFf8sf] k|s[of M
o; ljj/0fkq dfkm{t ;j{;fwf/0fdf hf/L ul/Psf] ;fwf/0f z]o/ v/Lbsfnflu cfj]bgstf{x?af6
cTolws dfu eO{ cfPsf] cj:yfdf k|fKt ePsf cfj]bgx?nfO{ lwtf]kq lgisfzg tyf afF8kmfF8
lgb]{lzsf, @)&$ -5}+7f}+ ;+zf]wg @)&(_ df ePsf] Joj:yf cg';f/ ;fwf/0f z]o/x? afF8kmFf8
ul/g]5 . To;}u/L lgisfzg ul/Psf] cjlw e/df ;d]t ;j{;fwf/0fx?af6 Go"g dfu eO{ cfPsf]
cj:yfdf afFsL /x]sf] z]o/ k|Tofe"ltstf{af6 k|Tofe"lt ;Demf}tfdf pNn]v ePsf] zt{ adf]lhd
v/Lb x'g]5 .
-v_ cToflws dfu ePsf] jf afF8kmfF8 gePsf] cj:yfdf lkmtf{ e'QmfgL ;DjGwL Joj:yf M
lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ df ePsf] Joj:yf cg';f/ 5 . cf:af k|0ffnL
dfkm{t cfj]bg lbPsf cfj]bgstf{x?sf] xsdf z]o/ afF8kmfF8 u/L k"0f{ jf cf+lzs ?kdf l:js[t /
cl:js[t ePsf] Joxf]/f pNn]v u/L lwtf]kq v/Lb -;fj{hlgs lgisfzg_ ;DaGwL lgb]{lzsf, @)&#
df ePsf] Joj:yf adf]lhdsf] ljj/0f ;DalGwt cf:jf (ASBA) ;b:o a}+s tyf ljQLo ;+:yfx?nfO{
pknAw u/fO{g]5 / ;f]xL ljj/0fsf cfwf/df ;DalGwt cf:jf ;b:o a}+s tyf ljQLo ;+:yfx?n]
afF8kmfF8df gk/]sf] z]o/ jfktsf] /sd ;DalGwt cfj]bsx?sf] /f]Ssf /x]sf] a}+s vftf km's'jf u/L
lkmtf{ ul/lbg]5 .
-u_ lgj]bg ;fy k|fKt /sdsf] lkmtf{ e'QmfgLdf l9nfO{ ePdf lbOg] Jofhb/ M
ælwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ -5}+7f}+ ;+zf]wg @)&(_Æ n] lgwf{l/t u/]sf]
;doleq z]o/sf] afF8kmfF8 kq tyf /sd lkmtf{ e'QmfgL lbg g;lsPdf bkmf @( sf] pkbkmf # df
ePsf] Aoa:yf adf]lhd z]o/ laqmL aGb ePsf] ldltb]lv /sd lkmtf{ e'QmfgL lbg z'? u/]sf] cl3Nnf]
lbg;Ddsf] ;/sf/L C0fkqsf] k|rlnt clGtd Jofhb/sf] cfwf/df x'g cfpg] Jofh ;lxt lx;fj u/L
/sd lkmtf{ e'QmfgL ul/g]5 .
pk/f]Qm Aoj:yf cf:af (ASBA) ;b:o a}+s tyf ljQLo ;+:yfaf6 cfj]bg lbg] cfj]bsx?sf] xsdf
nfu' x'g] 5}g .
-3_ lwtf]kqsf] afF8kmfF8 tyf k|df0fkq hf/L ;DjGwL k|s[of / ;dofjwL M
lgisfzg ul/g] ;fwf/0f z]o/ lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ -5}+7f}+ ;+zf]wg @)&(_
tyf k|rlnt z]o/ afF8kmfF6 ;DjGwL Joj:yf cg';f/ ;fwf/0f z]o/sf] afF8kmfF8 u/L ;"rLs/0f eP
kZrft ælwtf]kq s]lGb|o lgIf]k ;]jf lgodfjnL, @)^&Æ sf] lgod @$ sf] pklgod & adf]lhd
;DalGwt z]o/wgLsf] lxtu|fxL vftfdf cef}lts ?kdf z]o/ hDdf ul/g]5 .
-ª_ lwtf]kq ;"lrs/0f e};s]sf] eP To:tf] lwtf]kq ;"lrs/0f ul/Psf] lwtf]kq ahf/sf] gfd lwtf]kq
sf/f]jf/ z'? x'gsf] nflu ;+ul7t :f+:yfn] k"/f ug'{kg]{ zt{x? ;DalGw ljj/0f M;f] gePsf] .
-r_ lwtf]kq ;"lrs/0f e}g;s]sf] eP, ;+ul7t ;+:yfn] lgisf;g tyf ljqmL ul/g] lwtf]kqx? k|rlnt P]g,
lgod cg';f/ ;xh v/Lb/laqmL jf ljlgdo x'g ;Sg] u/fpgsf] nflu ul/g] Joj:yf ;DaGwL ljj/0f M
39
lgisfzg ul/g] ;fwf/0f z]o/ “lwtf]kq lgisfzg tyf afF8kmfF8 lgb]{lzsf, @)&$ -5}+7f}+ ;+zf]wg
@)&(_” df ePsf] Joj:yf cg';f/ ;fwf/0f z]o/ ;j{;fwf/0fdf afF8kmfF8 u/] kZrft g]kfn :6s
PS;r~]h lnld6]8df k|rlnt ;"rLs/0f ;DaGwL Joj:yf cg';f/ ;"lrs/0f tyf l;l8P; P08
lSnol/Ë lnld6]8df lwtf]kq btf{ u/fO{ z]o/ v/Lb laqmLsf] Joj:yf ldnfO{g]5 .
u=!)=r k|Tofe"lt ;DaGwL ljj/0f M
-s_ lwtf]kq k|Tofe"lt ug]{ ;+ul7t ;+:yfsf] gfd, 7]ufgf / k|Tofe"lt ug]{ lwtf]kqsf] ;+Vof / /sd M =
o; ljj/0fkq dfkm{t cfof]hgf k|efljt If]qsf afl;Gbfx?sf] nflu laqmL ul/g] z]o/x? k"0f{ ?kdf
laqmL gePdf ;j{;fwf/0fx?nfO{ lgisfzg ul/g] z]o/df yk u/L lalqm ug]{ / ;j{;fwf/0fdf lgisfzg
ul/g] z]o/ -j}b]lzs /f]huf/Ldf /x]sf g]kfnLnfO{ ;'/lIft ul/Psf] ;d]t_ k"0f{ ?kdf laqmL geO{ z]o/
afFsL /x]df ;f] afFsL /x]sf] z]o/ k|Tofe't ug{sf nflu >L g]kfn a+unfb]z Soflk6n lnld6]8,
lah'nLahf/, sf7df8f}+åf/f k|Tofe"ltsf nflu k|ltj4tf ;lxt ;Demf}tf k|fKt ePsf] 5 .
qm=;+= gfd, 7]ufgf ;+Vof /sd

! g]kfn a+unfb]z Soflk6n lnld6]8, lah'nLahf/, 12,00,000 12,00,00,000
sf7df8f}+
hDdf 12,00,000 12,00,00,000
-v_ lwtf]kq k|Tofe"ltstf{;Fu ul/Psf] ;Demf}tfsf] d"Vo d"Vo aF"bfx? M

!= o; sDkgLn] !@,)),))) lsQf ;fwf/0f -:yfgLo afl;Gbfx? tyf ;j{;fwf/0fsf nflu_
z]o/ lgisfzg ug{sf nflu lgodfg';f/ zt k|ltzt z]o/ k|Tofe"lt ug{sf] nflu
k|Tofe"ltstf{ >L g]kfn a+unfb]z Soflk6n lnld6]8, lah'nLahf/, sf7df08f}+;Fu ldlt
@)&*÷!@÷!% df k|Tofe"lt ;Demf}tf ul/Psf] 5 .
@= sDkgLn] cfof]hgf k|efljt If]qdf :yfoL a;f]af; ug]{ :yfgLo afl;Gbfsf] nflu
5'§ofOPsf] @ k|ltztn] x'g cfpg] ?=!)).– c+lst b/sf !,@),))) lsQf z]o/sf] d"No
?=!,@),)),))).– -cIf]?kL Ps s/f]8 la; nfv dfq_ / ;j{;fwf/0fsf] nflu 5'§ofOPsf] !*
k|ltztn] x'g cfpg] ?=!)).– c+lst b/sf !),*),))) -j}b]lzs /f]huf/Ldf /x]sf]
g]kfnLx?nfO{ 5'§ofOPsf] !,)*))) lsQf ;d]t_ lsQf z]o/sf] d"No ?=!),*),)),))).–-
cIf/]kL b; s/f]8 c;L nfv dfq_ u/L s"'n !@,)),))) lsQf ;fwf/0f z]o/ jfkt
?=!@,)),)),))).–-cIf]?kL afx| s/f]8 dfq_ z]o/ d"No a/fa/sf] z]o/ k|Tofe"'ltsf] sfo{ ug{
>L g]kfn a+unfb]z Soflk6n lnld6]8, lah'nLahf/, sf7df08f}+af6 k|:tfj k|fKt ePsf] . ;f]
;DaGwdf g]kfn a+unfb]z Soflk6n lnld6]8n] !@,)),))) lsQf ;fwf/0f z]o/ jfkt
?=!@,)),)),))).–-cIf/]kL afx| s/f]8 dfq_ z]o/ d"No a/fa/sf] z]o/ k|Tofe"l tsf] sfo{ ug{
;Demf}tf ul/Psf] .
#= k|Tofe"ltstf{n] cfkm" g]kfn lwtf]kq af]8{af6 ;b:otf k|fKt lwtf]kq Joj;foL /x]sf] /
sDkgLsf] !@,)),))) lsQf z]o/ k|Tofe"lt ug{ sfg'gL / cfly{s ?kdf ;Ifd cflwsfl/s
;+:yf xf] egL pb\3f]if u/]sf] .
$= k|Tofe"ltstf{n] sDkgLsf] z]o/ k|Tofe"t ug]{ k|of]hgsf] nflu o; ;Demf}tf adf]lhd sa'n
u/]sf] z]o/ lsQfn] vfd];Ddsf] dfq bfloTj axg ug]{5 . z]o/ k|Tofe"lt ;DaGwdf
!@,)),))) lsQf ;fwf/0f z]o/ jfkt ?=!@,)),)),))).– -cIf/]kL afx| s/f]8 dfq_ z]o/
d"No a/fa/sf] k|Tofe"lt u/] afkt k|Tofe"ltstf{nfO{ ;]jf z'Ns afkt lgodfg';f/ nfUg] s/
;lxt ?=!,)),))).)) -cIf/]kL Ps nfv dfq_ ;]jf z'Ns k|bfg ug{ sDkgL d~h'/ ub{5 .
z]o/ k|Tofe"lt u/] afktsf] ;]jf z'MNssf] /sd dWo]af6 k|rlnt sfg'g adf]lhd s/ s§L
u/L k|Tofe"ltstf{nfO{ ;ft -&_ lbgleq e'QmfgL ug{ sDkgL d~h'/ ub{5 . ;f] /sd lkmtf{
gx''g] k|sf/sf] -Non Refundable_ x'g'sf] ;fy} ;f] /sddf k|Tofe"ltstf{n] g]kfn lwtf]kq
af]8{nfO{ a'emfpg' kg]{ ;Dk"0f{ /sd ;d]t ;dfj]z x'g]5 .
%= k|Tofe"lt u/]sf] z]o/ k|Tofe"ltstf{n] u|x0f ug'{ k/]df pQm z]o/ u|x0f u/] kl5 ;j{;fwf/0f
z]o/wgL ;/x k|Tofe"ltstf{nfO{ z]o/ k|ltsf] xs clwsf/ k|fKt x'g]5 .
^= k|Tofe"ltstf{sf] bfloTj lghn] k|Tofe"lt ug{ dGh'/ u/]sf] /sdsf] xb;Dd dfq sfod
/xg]5 . lgisfzg sDkgLn] lgisfzg ug]{ z]o/x? k"0f{ ?kdf v/Lb eP kl5 k|Tofe"ltstf{sf]
bfloTj :jtM ;dfKt x'g]5 .
&= ;a} kIfsf] cfk;L ;xdltdf o; ;Demf}tfkqsf zt{x¿ kl/jt{g ug{, kl/dfh{g ug{ jf
;+zf]wg ug{ ;lsg]5 / To:tf kl/jt{gx¿ of] ;Demf}tfkqsf] cleGg cË dflgg]5 .
40
*= of] ;Demf}tfkqdf pNn]lvt s'g} zt{ tyf To;sf] kfngf Pj+ JofVofsf ljifodf lgisfzg
sDkgL tyf k|Tofe"tstf{ aLr s'g} ljjfb pTkGg ePdf ;f] ljjfb cfk;L 5nkmn u/L
;xdltaf6 ;dfwfg ul/g]5 . o;/L cfk;L ;xdltjf6 ljjfbsf] ;dfwfg gePdf k|rlnt
sfg"g jdf]lhd ljjfbsf] ;dfwfg ul/g]5 .
u=!)=5 cfj]bg lb+bf Wofg lbg' kg]{ s'/fx? M

-s_ lwtf]kqjfnfsf] clwsf/ tyf k|ltaGwfTds Joj:yfx? h:t} dtflwsf/, nfef+z, xsk|b z]o/,
lwtf]kqjfnfsf] clwsf/df kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DaGwL ljj/0f M
o; ljj/0f-kq cg';f/ lgisfzg ul/g] ;fwf/0f z]o/sf] afF8kmfF8df k/]sf z]o/wgLx?sf] clwsf/
tyf k|ltaGwfTds Aoa:yfx? h:t} dtflwsf/, nfef+z, xsk|b z]o/, lwtf]kqjfnfsf] clwsf/df
kl/jt{g ug]{ k|s[of tyf lwtf]kqsf] vf/]hL cflb ;DaGwL Aoa:yfx? k|rlnt sfg"g adf]lhd x'g]5 .
-v_ lgodfjnL, k|aGwkq k|fKt ug]{ jf x]g{ ;Sg] 7fpF, e'QmfgL ug]{ tl/sf, lng'kg]{ Go"gtd lwtf]kq ;+Vof
/ ;f] eGbf dfly lng] ePdf s'g u'0ffÍdf lng ;Sg] xf] ;f] ;DaGwL ljj/0f M
!= o; sDkgLsf] k|aGwkq tyf lgodfjnL sfof{no ;doleq sDkgLsf] /lhi68{ sfof{no, kz'klt
lehg lk+unf:yfg, uf}zfnf, sf7df08f}+ jf lwtf]kq lgisf;g tyf laqmL k|aGws glan
OGe]i6d]G6 a}+lsË lnld6]8sf] sfof{no, gS;fn, sf7df08f}+df ;Dks{ /flv x]g{ jf k|fKt ug{
;lsg]5 .
@= o; ljj/0f-kq dfkm{t lgisfzg ul/g] ;fwf/0f z]o/ vl/bsf nflu b/vf:t lbFbf b/vf:tjfnfn]
b/vf:t;fy cfkm'n] vl/b ug{ rfx]sf] ;fwf/0f z]o/ ;+Vofsf] k|lt ;fwf/0f z]o/ ?=!))÷– sf
b/n] x'g cfpg] Psd'i6 /sd o; lgisfzgsf] nflu tf]lsPsf] ;+sng s]Gb|x?df hDdf u/L ;f]
sf] ;Ssn ef}r/ jf a}+s 8«fkm\6 ;+nUg u/L b/vf:t lbg' kg]{5 .
#= o; ljj/0fkq dfkm{t lgisfzg ul/g] z]o/sf] nflu b/vf:t lbFbf b/vf:tjfnfn] Go'gtd !) -
bz_ lsQf / !) c+ssf] u'0ffÍdf clwstd $,(() -rf/ xhf/ gf} ;o gAa]_ lsQf;Dd z]o/
v/Lb ug{sf nflu b/vf:t lbg ;lsg]5 .
-u_ cfj]bg lb+bf kfngf ug'{kg]{ zt{ aGb]hx? h:t} Ps eGbf a9L b/vf:t lbg gkfOg], nufgLstf{sf]
klxrfgsf] nflu gful/stf÷hGdbtf{sf] k|dfl0ft k|df0fkqsf] k|ltlnlk k]z ug'{kg]{ jf lwtf]kq bnfn
Joj;foLn] lbPsf] u|fxssf] kl/ro gDa/ / ;DalGwt Joj;foLsf] gfd v'nfpg'kg]{ / a}+s vftf
dfkm{t sf/f]af/ ul/g'kg]{ h:tf kIfx? M
!= s'g} klg g]kfnL gful/sn] o; ljj/0fkq cg';f/ hf/L ul/g] z]o/ vl/b ug{ cfj]bg lbg
;Sg]5g\ .
@= o; ljj/0fkqaf6 lgisfzg x'g] lwtf]kq vl/bsf nflu b/vf:t lbg rfxg]n] g]kfn lwtf]kq
af]8{af6 cg'dlt lnO{ lwtf]kqsf] ;fj{hlgs lgisfzgsf] s]lGb|s[t ljB'lto ;]jf ;DaGwL sfo{
;~rfng lgb]{lzsf, @)&$ adf]lhd ;fj{hlgs lgisfzg k|0ffnL dfkm{t cfj]bg ;+sng ug{
cfj4 ASBA ;]jfdf ;xefuL a+}s tyf ljQLo ;+:yf tyf ltgsf zfvf sfof{nox?af6 cfj]bg
lbg ;Sg]5g\ .
#= cf:jf (ASBA) ;]jfdf ;xefuL a}s tyf ljQLo ;+:yfn] ASBA cGt{ut lng] cfj]bgsf] 9fFrf
lwtf]kqsf] ;fj{hlgs lgisfzgsf] s]lb|s[t ljB'tLo ;]jf ;DaGwL sfo{ ;~rfng lgb]{lzsf,
@)&$ sf] cg';'rL % adf]lhd x'g'kg]{5 .
$= l;l8P; P08 lSnol/Ë lnld6]8af6 pknAw u/fO{Psf] æd]/f] z]o/Æ ;ˆ6j]o/af6 klg cfj]bsn]
cfj]bg ug{ ;Sg]5g\ . To;sf nflu cfj]bsn] cfˆgf] lxtu|fxL vftfdf a}+s vftfsf] ljj/0f
pNn]v ul/;s]sf] x'g' kg]{5 / ;DalGwt a}+s tyf ljQLo ;+:yfaf6 CRN g+= lnO{;s]sf] x'g'
kg]{5 .
%= l/tk"j{s k|fKt gePsf] b/vf:t tyf cfj]bg kmf/fddf pNn]v ePsf] lxtu|fxL vftf g+= /
cfj]bssf] gfd l;l8P;;Lsf] clen]vdf km/s k/]sf] kfO{Pdf ;f] kmf/fdnfO{ z]o/ afF8kmfF6df
;dfj]z gul/g] x'+bf cfj]bg kmf/fddf e/]sf] lxtu|fxL vftf g+= cfj]bs :jo+n] Plsg ug'{kg]{5 .
^= cfj]bsn] cfj]bg kmf/d a'emfpFbf b]xfosf s'/fx?df ljz]if Wofg lbO{ :ki6;+u cfj]bg kmf/d
e/L a'emfpg' kg]{5 M
s= lwtf]kq lgisf;gstf{ sDkgLsf] gfd .
v= cfj]bssf] gfd, y/, 7]ufgf, gful/stf g+=, b:tvt, ;Dks{ kmf]g g+=, Od]n 7]ufgf .
u= gfjfns jf ljlIfKt JolQmsf] xsdf ;+/Ifssf] gfd, y/ / gftf .
3= vl/b ug{ rfx]sf] lwtf]kqsf] ;+Vof –c+s / cIf/df .
ª= vl/b ug{ rfx]sf] lwtf]kq jfktsf] /sd –c+s / cIf/df .
41
r= cfj]bssf] vftf /x]sf] a}+ssf] gfd, 7]ufgf, vftf g+= / vftfsf] lsl;d .
5= cfj]bssf] lxtu|fxL –l8Dof6 vftf gDa/ .
&= cfj]bsx?n] cfj]bg lb+bf l;–cf:jf ;b:o a}+sx?df /x]sf] cfj]bg jfktsf] /sd /f]Ssf /flvg]
vftf cGo s'g} k|sf/n] /f]Ssf /x]sf] jf lgliqmo (Dormant) /x]sf] x'g' x'b}g .
*= cfj]bg lbPsf] /sd a/fa/sf] /sd vftfdf x'g' kg]{5 .
(= Ps JolQmn] cfkm'n] vl/b ug{ rfx]sf] ;fwf/0f z]o/sf] nflu Ps eGbf a9L b/vf:t lbg] kfOg]
5}g . olb Ps JolQmsf] gfddf Ps eGbf a9L cfj]bg k|fKt x'g cfPdf ;Dk'0f{ b/vf:tnfO{ /2
ul/g]5 .
!)= cfof]hgf k|efljt If]qsf afl;Gbf / j}b]lzs /f]huf/Ldf /x]sf g]kfnLsf nflu lgisfzg ul/Psf]
z]o/df afF8kmfF8df k/]sf z]o/wgLx?n] o; lgisfzgdf cfj]bg lbg kfpg] 5}gg\ / olb
cfj]bg u/]sf] kfO{Pdf ;f] cfj]bg :jtM cof]Uo 7xl/g] 5 .
!)= lwtf]kq v/Lbsf] nflu b/vf:t lb+bfsf] cj:yfdf jf b/vf:t lbO{;s]kl5 v/Lb u/]sf] lwtf]kq
jfktsf] /sd e'QmfgL gx'+b} k|rlnt sfg'g adf]lhd clwsf/ k|fKt clwsf/L jf lgsfoaf6
nufgLstf{sf] vftf /f]Ssf /fVg] cfb]z k|fKt ePdf lgisfzg tyf ljqmL k|aGwsn] To:tf]
b/vf:t kmf/fdnfO{ cfb]z adf]lhd ug]{5 .
!!= lwtf]kq afF8kmfF8 ug'{k'j{ clVtof/ k|fKt lgsfoaf6 s'g} nufgLstf{sf] vftf /f]Ssf /fVg cfb]z
jf lgb]{zg k|fKt ePdf ;DalGwt a}+s jf ljQLo ;+:yfn] To:tf] cfb]z jf lgb]{zg cg';f/
;DalGwt nufgLstf{sf] vftf /f]Ssf u/L To;sf] hfgsf/L t'?Gt lgisfzg tyf ljqmL
k|aGwsnfO{ lbg' kg]{5 .
!@= z]o/sf] afF8kmfF8 u/L ;"lrs/0f eP kZrft afF8kmfF8df k/]sf cfj]bsx?nfO{ afF8kmfF8df k/]sf]
z]o/ lghx?sf] lxtu|fxL vftfdf hDdf ug{] Joj:yf ul/g] ePsf]n] ;Dk"0f{ cfj]bsx?n] clgjfo{
?kdf cfkm\gf] lxtu|fxL vftf g+= cfj]bg kmf/fddf pNn]v ug'{ kg]{5 .
!#= ?= %,)),)))÷– ;Ddsf] nflu cfj]bg lbg] cfj]bsn] :j]lR5s ?kdf / ;f]eGbf a9L /sdsf]
nflu cfj]bg lbg] cfj]bsn] clgjfo{ ?kdf cfj]bgdf cfkm\gf] :yfoL n]vf gDa/ (PAN)
v'nfpg'kg]{5 . o; cltl/Qm ?= %,)),)))÷– jf ;f]eGbf a9L /sd cfj]bg lbg] cfj]bsx?n]
cfkm"n] cfj]bg lbFbf hDdf u/]sf] /sd ;DklQ z'4Ls/0f P]gsf] alv{nfk x'g] u/L cfh{g gu/]sf]
egL pb\3f]if0f ug'{kg]{5 .
!$= ;+ul7t ;+:yfsf] ;~rfns, sfo{sf/L k|d'v, n]vfk/LIfs, sDkgL ;lrj jf ;+ul7t ;+:yfsf]
Joj:yfkg jf n]vf ;DaGwL sfo{df k|ToIf ?kn] ;+nUg JolQmn] To:tf] kbdf axfn /xFbfsf]
avt jf To:tf] kbaf6 cjsfz k|fKt u/]sf] ldltn] Psjif{;Dd ;DalGwt ;+ul7t ;+:yf jf
To;sf] ;xfos sDkgLsf] lwtf]kq cfˆgf] jf cfˆgf] kl/jf/sf] ;b:o jf cGo s'g} JolQm jf
To:tf JolQmsf] lgoGq0fdf /x]sf] kmd{, sDkgL jf ;+:yfsf] gfddf jf cGo JolQmnfO{ vl/b
ljqmL ug{ u/fpg jf x:tfGt/0f ug{ jf n]gb]g ug{ ;Sg]5}g .
!%=o; ljj/0fkq dfkm{t lgisfzg ul/g] z]o/sf nflu Go"gtd !) -bz_ lsQf tyf ;f] eGbf
a9Lsf nflu !) c+sn] efu hfg] ;+Vofdf clwstd $,(() -rf/ xhf/ gf} ;o gAa]_
lsQf;Ddsf nflu cfj]bg lbg ;lsg]5 .
u=!!= ;DalGwt kIf aLrsf] sf/f]af/ ;DaGwL ljj/0f M

lgisfzgstf{ ;+ul7t ;+:yf / lgDg lnlvt kIf aLr ljut @ aif{sf] cjlwdf s'g} k|sf/sf] a:t'ut sf/f]jf/
ePsf] jf s'g} sf/f]jf/ ug{ k|:tfj ul/Psf] eP sf/f]jf/df ;+nUg AolQmx?sf] gfd, ltgLx?sf] ;+ul7t ;+:yf
;Fusf] ;DaGw, sf/f]af/sf] k|s[lt / /sd M
-s_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;+rfnssf] ?kdf /x]sf] AolQm M sf/f]af/ gePsf] .
-v_ cfwf/e't z]o/wgL M sf/f]af/ gePsf] .
-u_ v08 -s_ / -v_ df pNn]lvt s'g} AolQmsf] Psf3/ kl/jf/ ;b:o M sf/f]af/ gePsf] .
-3_ ;+ul7t ;+:yfsf] sfo{sf/L clws[t jf ;+rfns jf cfwf/e't z]o/wgLn] #) k|ltzt jf ;f] eGbf a9L
dtflwsf/ x'g] u/L z]o/ :jfldTj u|x0f u/]sf] sDkgL jf ;+ul7t ;+:yf M ;f] gePsf] .
-ª_ ;+ul7t ;+:yf jf To;sf] ;xfos sDkgLn] xfnsf] ;+rfns jf gLhsf] Psf3/sf] kl/jf/sf] ;b:osf
nflu s'g} sf/f]jf/ jf ;Demf}tf u/]sf] 5 eg] ;f] jf ljj/0fkq k|sfzg ug{ eGbf # aif{ cufl8sf]
cjlwdf ;+:yfsf] ;+rfns jf ;+rfnssf] Psf3/ kl/jf/sf] ;b:osf nflu s'g} sf/f]jf/ jf ;Demf}tf
u/]sf] eP ;f] s'/f M s'g} sf/f]jf/ jf ;Demf}tf u/]sf] 5}g .
-r_ s'g} ;+rfns jf ;+rfnssf] Psf3/ kl/jf/sf] ;b:onfO{ s'g} C0f lbPsf] jf lgh;Fu lnPsf] eP pQm
C0f ;DaGwL lj:t[t ljj/0f h:t} C0f afkt lnPsf] /sd, C0fsf] Aofhb/, C0f lnPsf] ldlt, C0f
e'QmfgL cjlw cflb s'/f ljj/0fkqdf v'nfpg' kg]{ M C0f sf/f]af/ u/]sf] 5}g .
42
u=!@= ljb]zL nufgL / Aoa:yfkg ;DaGwL ljj/0f M
ljb]zL nufgL / Aoa:yfkgdf ;+ul7t ;+:yf ;+rfng x'g] eP ;f] sf] ljj/0fsf ;fy} ;DalGwt ;Demf}tfsf]
d'Vo tyf tflTjs a'Fbfx? M sDkgLdf ljb]zL nufgL / ljb]zL Aoa:yfkgdf g/x]sf] .
u=!#= ;'rLs[t ;+ul7t ;+:yfn] ;fj{hlgs lgisf;g ug]{ ePdf ;f] sf] ljj/0f M
-s_ ;+ul7t ;+:yfsf] ljut # cfly{s aif{sf] k|To]s q}dfl;s cjlwsf] pRrtd, Go'gtd, clGtd ahf/
d'Nosf ;fy} sf/f]jf/ ePsf] z]o/ ;+Vof M lgisf;gstf{ sDkgL ;'rLs[t ;+ul7t ;+:yf gePsf] .
-v_ af]8{df ljj/0f-kq btf{sf] nflu k|:t't ug'{ eGbf ^ dlxgf cufl8sf] cjlwsf] dfl;s ?kdf pRr, Go'g
/ clGtd d'Nosf ;fy} k|To]s dlxgfdf sf/f]jf/ ePsf] s'n lbg / s'n sf/f]af/ ePsf] lwtf]kq ;+Vof M
;f] gePsf] .
Uf=!$ kl5Nnf] ;fj{hlgs lgisf;gsf] cg'dfg tyf pknAwL ;DaGwL ljj/0f M
;+ul7t ;+:yfn] o;eGbf cuf8L lwtf]kq lgisf;g ubf{ tof/ u/]sf] ljj/0f-kq jf cGo ljj/0fx?df pNn]v
ul/Psf nIo tyf sfo{qmdx? tyf v'b d'gfkmf xfl;n ug{ ;s]÷g;s]sf], g;s]sf] cj:yfdf nIo tyf
sfo{qmdsf ;fy} ljj/0fkq jf cGo ljj/0fx?df k|If]lkt v'b d'gfkmf eGbf aL; k|ltzt jf ;f] eGbf a9Ln]
Go'g x'g uPsf] eP o;/L km/s kgf{sf] sf/0f M xfn ;Dd s'g} ;fj{hlgs lgisf;g gul/Psf] .
u=!%= k/fdz{bftf÷laz]if1 ;DaGwL ljj/0fM
-s_ n]vfkl/Ifs, k|d'v a}+s, lgisf;g sfo{;Fu ;+nUg a}+s, k|If]lkt ljQLo ljj/0f 7Ls 5 egL k|dfl0ft ug]{ lj1
cflbsf] gfd tyf 7]ufgf M
c_ sDkgLsf] cf=j= @)&&÷&* sf] cfDbfgL vr{ lx;fa tyf jf;nftsf] n]vfk/LIf0f ;fksf]6f P;=P08
P;f]l:fP6;\,rf6{8{ PsfpG6]06;\,yfkfufFp afg]Zj/, sf7df8f+}sf rf6{8 Psfp06]06, >L ;'lzn ;fksf]6f n]
ug'{ePsf] 5 .
cf_ o; lgisf;gsf] nflu k|d'v a}+ssf] Aoa:yf ul/Psf] 5}g .
O_ o; lgisf;gsf] nflu b]xfosf a}+snfO{ lgisf;g a}+s (Banker to the Issue)sf] ?kdf lgo'Qm ul/Psf] 5
.
l;=g+= lgisf;g a}+ssf] gfd, 7]ufgf vftf g+=
03501017501151 (Current)
!= glan a}+s lnld6]8, ltgwf/f
03506017500365 (Call)
0010010419057 (Current)
@= d]uf a}+s g]kfn lnld6]8,sdnfbL
0010060419061 (Call)
;fy} cfjZostf cg';f/ lgisf;g aGb x'g' cufj} af]8{nfO{ hfgsf/L lbO{ cGo jfl0fHo a}+sx? tyf /fli6«o
:t/sf] ljsf; a}+sx?nfO{ ;d]t o; lwtf]kq lgisf;gsf] nflu lgisf;g a}+ssf] ?kdf lgo'Qm ug{ ;lsg]5 .
O{_ o; ljj/0fkqdf pNn]lvt ljQLo ljj/0f tyf k|If]k0fsf] cg'dfg tyf cfwf/x? xfnsf] sDkgLsf] l:ylt,
lgisf;gstf{ sDkgLsf] bIftf / lgisf;gstf{ sDkgLn] k|fKt u/]sf] xfn;Ddsf] sfo{ k|ultsf] cfwf/df
k'g/fjnf]sg u/L ljj/0f 7Ls 5 egL k|dfl0ft ug]{ rf6{8{ Psfp06]06 ;+:yf k|zf+s P08 P;f]l;P6\; sf
rf6{8{ Psfp06]06 >L k|zf+s ;fksf]6f n] k|dfl0ft ug'{ ePsf] 5 .
-v_ dfly v08 -s_ df pNn]lvt ;+:yf jf JolQm;Fu ePsf] ;xdltsf d'Vo d'Vo a'Fbf tyf zt{x? M ;f] lgDg
adf]lhd ePsf] M
 n]vfk/LIfsM
sDkgLsf] cf=j=@)&&÷&*sf] cfDbfgL vr{ lx;fa tyf jf;nftsf] n]vfk/LIf0f ;fksf]6f P;=P08
P;f]l:fP6;\,rf6{8{ PsfpG6]06;\, sf rf6{8{ Psfp06]06 >L ;'lzn ;fksf]6f n] ug'{ePsf] 5 .
 lgisfzg a}+s (Bankers to the Issue) M
lgisfzg a}+s (Banker to the Issue) ;Fu ul/Psf d'Vo a'Fbfx? b]xfo adf]lhd /x]sf 5g\ M
 ;+sng s]Gb«x?af6 cfj]bg kmf/d jfkt hDdf ePsf /sdx? hDdf ug{] .
 nufgLstf{x?sf] /sdsf] ;'/If0f ug{] .
 ljQLo k|If]k0fsf] ljj/0f tof/ kfg]{ lj1 M ljQLo k|If]k0f sDkgLsf] Joj:yfkgn] tof/ u/]sf] xf] .
u=!^= cfof]hgf ;DkGg ug{sf] nflu ;fj{hlgs lgisf;g afx]s cGo ljQLo >f]tx? k|of]u ul/Psf] 5÷5}g,
tT;DaGwL ljj/0f M
43
kl/of]hgf lgdf{0f ug{sf nflu ;+:yfks z]o/wgLx?sf] :jMnufgL / a}+s ljQLo ;+:yfx?af6 C0f k|fKt u/L
cfof]hgfsf sfdx? ;~rfng e}/x]sf] 5 .
qm= a}+ssf] z'?sf] shf{ shf{sf] ls:tf z'? tyf xfn;Dd e'Qmfg afFsL shf{ /sd -
;+= gfd /sd -?=_ e'QmfgL e'QmfgLsf] xfnsf] ul/Psf] shf{ ?=_
cjwL tl/sf Jofhb/ /sd
! g]kfn @!,*&,@$,))) !) jif{ q}dfl;s j]; /]6 #,@(,*(,&(!=^@ !*,%&,#$,@)*=#*

P;=la=cfO{ ±@%
lnld6]8 -
(=($±@_
@ g]kfn #,%),%),))) & jif{ q}dfl;s j]; /]6 $),)),))) #,!),%),)))

P;=la=cfO{ ±@%
lnld6]8 -
(=($±@_
sDkgLn] tn lbPsf] tflnsf cg';f/sf] shf{ /sd e'QmfgL ug]{ 5 M

klxnf] cjlwsf] C0fsf]] e'QmfgL tflnsf
Due Date Installment Loan Outstanding
185,734,208.38
>fj0f @)@@ 6,000,000.00 179,734,208.38
sflQ{s @)@@ 5,750,000.00 173,984,208.38
df3 @)@@ 5,750,000.00 168,234,208.38
a}zfv @)@# 6,250,000.00 161,984,208.38
>fj0f @)@# 6,250,000.00 155,734,208.38
sflQ{s @)@# 6,750,000.00 148,984,208.38
df3 @)@# 6,750,000.00 142,234,208.38
a}zfv @)@$ 7,250,000.00 134,984,208.38
>fj0f @)@$ 7,250,000.00 127,734,208.38
sflQ{s @)@$ 7,000,000.00 120,734,208.38
df3 @)@$ 7,000,000.00 113,734,208.38
a}zfv @)@% 8,500,000.00 105,234,208.38
>fj0f @)@% 8,500,000.00 96,734,208.38
sflQ{s @)@% 8,500,000.00 88,234,208.38
df3 @)@% 9,500,000.00 78,734,208.38
a}zfv @)@^ 9,500,000.00 69,234,208.38
>fj0f @)@^ 9,500,000.00 59,734,208.38
sflQ{s @)@^ 5,250,000.00 54,484,208.38
df3 @)@^ 5,250,000.00 49,234,208.38
a}zfv @)@& 6,250,000.00 42,984,208.38
>fj0f @)@& 6,250,000.00 36,734,208.38
sflQ{s @)@& 12,000,000.00 24,734,208.38
df3 @)@& 12,000,000.00 12,734,208.38
44
a}zfv @)@* 12,734,208.38 -
bf];|f] cjlwsf] C0fsf]] e'QmfgL tflnsf

Due Date Installment Loan Outstanding
31,050,000
>fj0f @)@@ 1,000,000 30,050,000
sflQ{s @)@@ 1,250,000 28,800,000
df3 @)@@ 1,250,000 27,550,000
a}zfv @)@# 1,250,000 26,300,000
>fj0f @)@# 1,250,000 25,050,000
sflQ{s @)@# 1,250,000 23,800,000
df3 @)@# 1,250,000 22,550,000
a}zfv @)@$ 1,250,000 21,300,000
>fj0f @)@$ 1,250,000 20,050,000
sflQ{s @)@$ 1,500,000 18,550,000
df3 @)@$ 1,500,000 17,050,000
a}zfv @)@% 1,500,000 15,550,000
>fj0f @)@% 1,500,000 14,050,000
sflQ{s @)@% 1,500,000 12,550,000
df3 @)@% 1,500,000 11,050,000
a}zfv @)@^ 1,500,000 9,550,000
>fj0f @)@^ 1,500,000 8,050,000
sflQ{s @)@^ 5,750,000 2,300,000
df3 @)@^ 575,000 1,725,000
a}zfv @)@& 575,000 1,150,000
>fj0f @)@& 1,150,000 -
u=!&= d'2f tyf ljjfb ;DaGwL ljj/0f M

-s_ ;+ul7t ;+:yfsf] t/ntf, df}Hbft, sfo{ ;+rfngdf tflTjs c;/ kg]{ vfnsf] s'g} d'2fdfldnf jf ljjfb
eP ;f] ;DaGwL ljj/0f tyf pk/f]Qm d'2f jf ljjfbsf] sf/0faf6 kg{ ;Sg] k|efj ;DaGwdf Joj:yfkgsf]
wf/0ff M ;f] gePsf] .
-v_ ;+ul7t ;+:yfnfO{ c;/ kg]{ u/L ;+:yfsf] ;+:yfks÷;+rfnsn] jf nfO{ bfo/ ul/Psf] d'2f ;DaGwL ljj/0fM
;f] gePsf] .
-u_ ljut kfFr jif{df ;+ul7t ;+:yfsf] s'g} ;+:yfks÷;~rfns sfnf] ;"rLdf k/]sf] jf s'g} g}lts jf
cfly{s sf/0faf6 s'g} lgodg lgsfo jf cbfntn] ;hfo u/fPsf] eP, To:tf] ;+:yfks÷;+rfnssf] gfd
/ ;hfo ug]{ lgodg lgsfo jf cbfntsf] gfd pNn]v ug'{kg]{ M ;f] gePsf] .
-3_ ;+ul7t ;+:yf a}+s jf ljQLo ;+:yfdf C0f glt/L l8kmN6 ePsf], lgod cg';f/sf] z'Ns glt/]sf],
lwtf]kqjfnfx?sf] s'g} /sd e'QmfgL gul/Psf] eP tT;DaGwL ljj/0fx? M ;f] gePsf] .
u=!*= u'gf;f] ;'Gg] / ;dfwfg ug]{ k|s[of M

lgisflzt lwtf]kq ;DaGwL nufgLstf{x?sf] u'gf;f] tyf ;'emfj ;'Gg tyf ;f] sf] ;dfwfgsf nflu
lgisf;g sDkgL tyf lwtf]kq lgisf;g tyf laqmL k|aGwssf] sfof{nodf Ps ljz]if sIfsf] Joj:yf
ul/Psf] 5 . nufgLstf{x?n] b]xfosf] dfWod dfkm{t cfˆgf] u'gf;f] tyf ;'emfjx? k|]lift ug{ ;Sg]5g\ M
!= lgisf;gstf{ sDkgLsf] tkm{af6 >L /fdhL v8\sf
kmf]g g+=M )!–$!!#&!) tyf Od]n M info@kalinchowkdarshan.com.np
45
@== lgisf;g tyf ljqmL k|aGwssf] tkm{af6 >L lg/h dfgGw/ – kmf]g g+=M )!–$$!!^)$ tyf Od]nM
neeraj.manandhar@nabilinvest.com.np
u=!(= gub glnO{ s;}nfO{ lwtf]kq lgisf;g ul/Psf] 5 eg] To:tf] JolQm jf ;d"xsf] gfd, v/Lb ul/Psf]
;DklQ jf ;]jf ;DaGwL ljj/0f, lgisf;g ul/Psf] lwtf]kqsf] ;+Vof / b/ ;DaGwL ljj/0f M ;f] gePsf] .
u=@) C0fkq lgisf;g ;DaGwL ljj/0f M xfn;Dd sDkgLn] C0fkq hf/L u/]sf] 5}g .
u=@!= cu|flwsf/ z]o/ lgisf;g ;DaGwL ljj/0f M ;f] gePsf] .
u=@@ cGo ;fdfGo hfgsf/L M

-s_ ljz]if1sf] s'g} /fo ePdf, ;f] sf] ljj/0f M
k|If]lkt ljQLo ljj/0f l7s 5 elg k|zf+s P08 P;f]l;P6\; sf rf6{8{ Psfp06]06 >L k|zf+s ;fksf]6f n]
k|dfl0ft ug'{ ePsf] xf] . jf:tljs ljQLo ljj/0fsf cfwf/df ;+ul7t ;+:yfn] tof/ u/]s f] k|If]lkt ljQLo
ljj/0f oyfy{k/s /x]sf] Joxf]/f k|dfl0ft u/L cfkm\gf] /fo JoQm ug'{ePsf] 5 .
-v_ ut tLg cfly{s jif{ leqdf s'g} ;+rfns, n]vfk/LIfs kl/jt{g ePsf] eP, ;f] sf] sf/0f M ;f] gePsf] .
-u_ sDkgL ;lrjsf] gfd, 7]ufgf / of]Uotf M
Gffd M >L czf]s l;jfsf]6L
7]ufgf M afnsf]6, eQmk'/
of]Uotf M :gftsf]Q/
-3_ ;fj{hlgs lgisfzg ug{sf nflu ;+rfns ;ldltaf6 ePsf] lg0f{o ;DaGwL ljj/0f M
sDkgLsf] ldlt @)&* kf}if @# ut] z'qmjf/ a;]sf] ;ftf} jflif{s ;fwf/0f ;efsf] ljz]if k|:tfj g+=@,
adf]lhd ;j{;fwf/0fsf] nflu z]o/ lgisf;g ug]{ lg0f{o eof] / ljz]if k|:tfj g+=#, adf]lhd sDkgLsf]
k|aGwkq tyf lgodfjnLdf ;+zf]wg ul/ ;+zf]lwt k|aGwkqsf] bkmf ^ adf]lhd sDkgLsf] hf/L k"FhLsf] @)
k|ltzt z]o/ cfof]hgf k|efljt If]q sf :yfgLo afl;Gbfx? / ;j{;fwf/0fsf] nflu 5'§ \ofPsf] . h;dWo]
hf/L k"FhLsf] @ k|ltzt cyf{t ?= !,@),)),)))÷–-cIf/]kL Ps s/f]8 la; nfv ?k}of dfq_ /sd
a/fa/sf] ?= !))÷ c+lst b/sf !,@),))) lsQf ;fwf/0f z]o/ cfof]hgf k|efljt If]qsf afl;Gbfx?nfO{
/ hf/L k"FhLsf] !* k|tlzt z]o/ cyf{t ?=!),*),)),)))÷– -cIf/]kL bz s/f]8 c:;L nfv ?k}of dfq_
/sd a/fa/sf] ?=!))÷– c+lst b/sf !),*),))) lsQf z]o/ ;j{;fwf/0fsf] nflu ljqmL ug{ 5§ofPsf]
5 . pQm z]o/ lgisfzg k|of]hfgfy{ g]kfn lwtf]kq af]8{ ;dIf lgj]bg k]z ug]{ nufot of] ;Fu ;DalGwt
cfjZos ;Dk"0f{ k|s[ofsf] nflu ldlt @)&*÷!)÷)( ut] a;]sf] ;~rfns ;ldltsf] a}7ssf] lg0f{o
cg';f/ k|d'v sfo{sf/L clws[tnfO{ clVtof/ k|bfg ug]{ lg0f{o eof]
gf]6M g]kfn lwtf]kq af]8{af6 ldlt @)&(÷)&÷!& ut] b]lv nfu' x'g] u/L :jLs[t ePsf] lwtf]kq lgisfzg
tyf afF8kmfF8 -5}7f}+ ;+zf]wg_ lgb]{lzsf, @)&( sf] bkmf $ -v_,-!_ df Joj:yf eP adf]lhd ;j{;fwf/0fdf
;fj{hlgs lgisfzg ul/g] z]o/sf] !) k|ltzt j}b]lzs /f]huf/Ldf /x]sf g]kfnLx?sf nflu 5'6 \ofOPsf] .
-ª_ ;+ul7t ;+:yf jf o;sf z]o/wgLnfO{ s'g} ljz]if s/ ;'ljwf lbOPsf] eP, ;f] ;DaGwL ljj/0f M ;f]
gePsf] .
-r_ ;+ul7t ;+:yfsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft, gfkmf gf]S;fg lx;fj / gub k|jfx
ljj/0f k|fKt ug{ jf x]g{ ;Sg] 7fpF / ;do M
sfof{no ;doleq lgDglnlvt :yfgx?df sDkgLsf] kl5Nnf] cfly{s jif{sf] n]vfk/LIf0f ePsf] jf;nft,
gfkmf–gf]S;fg lx;fj tyf gub k|jfxsf] ljj/0f k|fKt ug{ jf lg/LIf0f ug{ ;lsg]5 .
!= sDkgLsf] /lhi68{ -s]Gb|Lo_ sfof{no, kz'klt lehg lk+unf:yfg, uf}zfnf, sf7df08f}+ .
@= lwtf]kq lgisf;g tyf laqmL k|jGws >L glan OGe]i6d]G6 a}+lsË lnld6]8, gS;fn, sf7df08f} .
-5_ af]g; z]o/ ;DaGwL Joj:yf M
xfn;Dd af]g; z]o/ hf/L ul/Psf] 5}g . eljiodf k|rlnt P]g / g]kfn lwtf]kq af]8{sf] k|rlnt af]g;
z]o/ lgisf;g ;DaGwL Joj:yf cg';f/ af]g; z]o/ hf/L ug{ ;Sg]5 .
-h_ z]o/jfnf, sd{rf/L jf c? s;}sf] nflu z]o/ ;'/lIft ug]{ Joj:yf ul/Psf] ePdf ;f] s'/f M
o; ljj/0f-kq dfkm{t lgisf;g ul/g] s'n !@,)),))) lsQf ;fwf/0f z]o/ dWo] !,@),))) lsQf
;fwf/0f z]o/ cfof]hgf k|efljt If]q sf afl;Gbfx?sf nflu, !,)*,))) lsQf ;fwf/0f z]o/ j}b]lzs
/f]huf/Ldf /x]sf g]kfnLx?sf nflu, @!,^)) lsQf sd{rf/Lsf nflu], %$,))) lsQf ;fd'lxs
46
nufgLsf]ifsf nflu afF8kmfF8 ul/Psf] tyf *,(^,$)) lsQf ;fwf/0f z]o/ ;j{;fw/0fsf nflu lgisf;g
ul/g]5 .
-em_ sDkgLn] sDkgL P]gn] u/]sf] Joj:yfx?, cfˆgf] sf/f]af/;Fu ;DalGwt P]g, lgod tyf lgodg Joj:yf
k"0f{ kfngf u/]sf] ;DaGwdf u/]sf] pb\3f]if0f M
sDkgLn] sDkgL P]g, @)^# n] u/]sf] Joj:yfx?, cfkm"n] ug]{ Joj;fo;Fu ;DalGwt P]g, lgod tyf
lgodg Joj:yf tyf lgodg lgsfox?n] lbPsf] lgb]{zgx?sf] k"0f{ ?kdf kfngf u/]sf] 5 / ;f]xL
lgb]{zgx?sf] bfo/f leq /xL sfo{ ul//x]sf] / o; ljj/0f-kqdf pNn]v ul/Psf] ljj/0fx? ;d]t ;f]xL
cg'?k tof/ ul/Psf] xf] eGg] sDkgLsf] pb\3f]if0f /x]sf] 5 .
-`_ lwtf]kq laqmL ljt/0f ;DaGwL Joj:yf M
o; ljj/0fkq dfkm{t lgisflzt ;fwf/0f z]o/ laqmL ljt/0fsf nflu :yfgLosf] xsdf bf]nvf lhNnfdf
sDtLdf $ :yfg tyf j9Ldf cfjZostf cg';f/ ;+sng s]Gb|sf] Joj:yf u/L cfjb]g kmf/d tyf
ljj/0fkq ljt/0f / cfj]bg kmf/d ;lxt b/vf:t /sd a'lemlng] Aoa:yf ul/g]5 . ;j{;fwf/0fsf] xsdf
g]kfn lwtf]kq af]8{af6 Ohfhtkq k|fKt cf:jf ;b:o a}+s tyf ljQLo ;+:yfx?sf tyf ltgsf tf]lsPsf]
zfvf sfof{nox?af6 cfa]bg lbg;Sg] Aoa:yf ul/Psf] 5 ;fy} l;l8P; P08 lSnol/Ë lnld6]8åf/f
;~rflnt d]/f] z]o/ (Mero Share) cgnfOg k|0ffnL dfkm{t klg cfj]bg ug{ ;lsg]5 .
-6_ qm]l86 /]l6Ë ;DaGwL Aoa:yf M
o; ljj/0fkq cg';f/ lgisfzg ul/g] ;fwf/0f z]o/sf] nflu lwtf]kq btf{ tyf lgisfzg lgodfjnL,
@)&# -rf}yf} ;+zf]wg ;lxt_ df ePsf] Joj:yf adf]lhd sDkgLsf] O:o"/ /]l6Ë u/fpg' kg]{ ePsf]n]
qm]l86 /]l6Ë lgodfjnL, @)^* sf] lgod # adf]lhd g]kfn lwtf]kq af]8{af6 cg'dlt k|fKt qm]l86 /]l6Ë
;+:yf s]o/ /]l6Ë g]kfn ln=,sdnfbL, sf7df08f}+af6 O:o"/ /]l6Ë u/fO{ dfr{ @@,@)@@ -ldlt
@)&*÷!@÷)*_ ut] "CARE-NP BB+ (Is) [pronounced Double B plus (Issuer)]" k|df0fkq k|fKt u/]sf]
5 . "CARE-NP BB+ (Is) [pronounced Double B plus (Issuer)]" n] sDkgLsf] bfloTj jxg ug]{
Ifdtfdf dWod:t/sf] hf]lvd /x]sf] (Moderate risk of default regarding timely servicing of financial
obligations) eGg] hgfpFb5 . ;f] u|]l8Ë sf] a}Btf calw Ps aif{ /xg] 5 . s]o/ /]l6Ë g]kfn ln= n]
CARE-NP AAA (Is) b]lv CARE-NP D (Is) ;Ddsf] /]l6Ë k|bfg ub{5 . h;df u|]8 CARE-NP AAA
(IS) n] alnof] cfwf/ hgfpFb5 eg] u|]8 CARE-NP D (IS) n] sdhf]/ cfwf/x? hgfpF5 . O:o"/ /]l6Ë
u|]8 k|bfg u/]sf] ldlt M@)&*÷!@÷)*-tbg';f/ dfr{ @@,@)@@_ /x]sf] 5 .
-7_ ljj/0fkq tof/ ug]{ JolQmsf] gfd, y/, z}lIfs of]Uotf / cg'ejsf] ljj/0f M
o; ljj/0fkq tof/ kfg]{ Joj;flos ;+:yfdf lwtf]kq lgisf;g tyf laqmL k|aGws >L glan
OGe]i6d]G6 a}+lsË lnld6]8, gS;fn, sf7df08f}+ /x]sf] 5 .
-8_ ;sf/fTds kIfx? M
!_ sDkgL tyf kl/of]hgfsf] Joj:yfkgdf bIf Pj+ cg'ejL hgzlQm /x]sf]n] of] sDkgL cGt{ut /x]sf
kl/of]hgfx? ;kmn x'g] ck]Iff ul/Psf] .
@_ o; ko{6sLo If]qdf cfGtl/s tyf afx\o ko{6sx?sf] pNn]Vo ?kdf cfjfthfjt x'g] / o;af6
kl/of]hgfsf] eljio pHHjn /x]sf] .
#_ g]kfn ;/sf/ ko{6g dGqfno, ko{6g ljefun] d'n'ssf !)) j6f k|d'v uGtJo :yfgx? dWo]
sfln~rf]s eujtLsf] dlGb/ If]qnfO{ klg ;dfj]z u/]sf] sf/0f klg ko{6sLo uGtJo :ynsf] ?kdf
kl/lrt /x]sf] .
$_ wfld{s cf:yfsf]] ?kdf k|l;¢ sflnGrf]s dlGb/df /x]sf] o; s]jnsf/ kl/of]hgfn] cfGtl/s tyf
afXo ko{6sx?nfO{ cfslif{t u/L Psrf]6L k'Ug} kg]{ ko{6sLo uGtJosf] ?kdf :yflkt u/]]sf] 5 .
%_ :yfgLo:t/df ljleGg /f]huf/Ld"ns ;]jf lbg'sf] cltl/Qm :yfgLonfO{ :j/f]huf/sf] cj;/ v'n]sf] .
9_ z]o/ /lhi6«f/ ;DaGwL Joj:yf M
g]kfn :6s PS;r]Gh lnld6]8df ;"lrs/0f u/] kZrft\ z]o/sf] gfd;f/L, b:tvt ?h' cflb ;DaGwL
sfo{ o; sDkgLsf] sfof{noaf6 jf sDkgLsf] ;~rfns ;ldltn] tf]s] adf]lhd z]o/ /lhi6«f/sf]
sfof{noaf6 x'g] u/L Joj:yf ul/g]5 .
-0f_ lwtf]kq laqmL v'Nnf cjlw M
o; ljj/0fkq dfkm{t cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfx? tyf j}b]lzs /f]huf/Ldf /x]sf
g]kfnLnfO{ Ps ;fy cfj]bg v'Nnf ul/g]5 h; dWo] cfof]hgf k|efljt If]qsf :yfgLo afl;Gbfx?sf]
nflu lgisfzg ul/g] z]o/x?sf] nflu cfj]bg lbg] cjlw laqmL v'Nnf ePsf] ldltaf6 sDtLdf !% lbg
/ al9df #) lbg;Dd x'g]5 eg] j}b]lzs /f]huf/Ldf /x]sf g]kfnLnfO{ cfj]bg lbg] cjlw laqmL v'Nnf
ePsf] ldltaf6 !% lbg x'g]5 . j}b]lzs /f]huf/Ldf /x]sf g]kfnLnfO{ z]o/ afF8kmfF8 kZrft\
;j{;fwf/0fsf] nflu z]o/ lgisfzg v'Nnf ul/g]5 . ;j{;fwf/0fsf] nflu cfj]bg lbg] cjlw sDtLdf $
sfo{ lbg / a9Ldf !% lbg v'Nnf /xg]5 .
47
-t_ lgodg lgsfosf] ;'k/Lj]If0faf6 s'g} s}lkmot cf}+NofOPsf] eP ;f] sf] kl5Nnf] cj:yfsf] af/]df pNn]v
ug'{kg]{ M ;f] gePsf] .
u=@#= -s_ a}+lsË ljQLo jf aLdf ;DaGwL Joj;fo ug]{ ;+ul7t ;+:yf afx]ssf cGo ;+ul7t ;+:yf n] lwtf]kq btf{
tyf lgisfzg lgodfjnL, @)&# sf] lgod ( pk–lgod # adf]lhd lwtf]kqsf] ;fj{hlgs lgisf;g
ubf{ b]xfosf zt{x? k'/f u/]sf] x'g' kg]{5 M
s=;+= zt{x? Kffngf ePsf]÷gePsf]
s cfˆgf] p2]Zo cg';f/ sf/f]jf/ ;+rfng ug{sf nflu cfjZos ldlt @)^#–)$–!& df btf{ eO ldlt
sfo{x? cufl8 a9fO{ Ps jif{sf] cjlw k"/f u/]sf] . @)&!–!)–)^ ut] k|f=ln= af6
klAnsdf kl/0ft eO{ cfjZos
sfo{x? ub}{ cfPsf] .
v k|rlnt sfg"g adf]lhd n]vfk/LIf0f tyf ;fwf/0f ;ef ;DkGg @)&* kf}if @# ut] ;fwf/0f ;ef
u/]sf] . u/]sf] .
u cfˆgf] p2]Zo cg';f/ sf/f]jf/ ;+rfng ug{sf nflu k|rlnt sfg"g lnO{;s]sf] .
adf]lhd s'g} lgsfoaf6 Ohfht, cg'dlt jf :jLs[lt lbg'kg]{
ePdf To:tf] Ohfht cg'dlt jf :jLs[lt lnO;s]sf] .
3 ;+ul7t ;+:yfsf] nflu cfjZos kg]{ hUuf vl/b u/L kfj/xfp;, sDkgLn] cfof]hgfsf] nflu cfjZos
sd{rf/L cfjf;3/ Pj+ sfof{no ejg, uf]bfd3/ tyf cGo kg]{ hUuf lnhdf lnO,sd{rf/L
cfjZos ;'ljwfx?sf] lgdf{0f sfo{ ;DkGg eO;s]sf] . cfjf;3/ Pj+ sfof{no ejg,
uf]bfd3/ tyf cGo cfjZos
;+/rgfx?sf] lgdf{0f ;DkGg eO;s]sf]
5.
ª sDkgLsf] nflu cfjZos kg]{ oflGqs pks/0f tyf To;sf kf6{{ sDkgLsf] s]a'nsf/ sf] nflu rflxg]
cflb vl/b ug'{kg]{ ePdf 6]08/ cflb ;Dk"0f{ k|lqmof k"/f eO;s]sf] oflGqs pks/0f tyf To;sf kf6{{
. vl/b eO;s]sf] .
r lwtf]kqsf] ;fj{hlgs lgisf;g ;DjGwdf lgisfzg tyf ljqmL ljqmL k|jGws >L glan OGe]i6d]G6
k|aGws;Fu ;Demf}tf eO{ ;s]sf] . a}+lsË lnld6]8 ;Fu @)&* df3
dlxgf !# ut] ;D´f}tf ePsf] .
5 cfof]hgf lgdf{0f cjlwe/ sDkgLsf] C0f / k"FhLsf] cg'kft ePsf] .
lwtf]kq lgisf;g lgb]{lzsfdf tf]lsP adf]lhd /fVg ;xdt ePsf]
.
h ;+:yfksx?n] lng sj'n u/]sf] lwtf]kqsf] /sd zt k|ltzt r'Qmf ;+:yfksx?sf] cfkm"n] lng sj'n
e};s]sf . u/]sf] $*,)),))) lsQf z]o/
lsQfsf] k|lt z]o/ ?=!))÷– -sf
b/n] ?= $*,)),)),)))÷–
ztk|ltzt r'Qmf eO{ ;s]sf] 5 .
´ kl/of]hgf lgdf{0fsf nflu kmfOgflG;on Snf]h/ -Financial cfof]hgfsf] nflu >L P;=la=cfO a}s
Closure_ e};s]sf] . lnld6]8sf] ;Fu ldlt @)&$ >fj0f
@# ut] kmfOgflG;on Snf]h/ ePsf]
5.
` cfof]hgf;Fu ;DalGwt cGo k"jf{wf/x? lgdf{0fsf] nflu 6]08/ ul/Psf] .
cfJxfg ul/;s]sf] .
6 ;j{;fwf/0fdf lgisf;g ug{ nfu]sf] z]o/x? lwtf]kq lgisf;g lwtf]kq lgisfzg tyf afF8kmfF8
lgb]{lzsfdf tf]lsP adf]lhd k|Tofe"lt u/fPsf] . lgb]{lzsf @)&$, df tf]lsP adf]lhd
k|Tofe"lt u/fPsf] .
48
u=@#=-v_ o; ljj/0f-kqdf k|sflzt tYo tyf ljj/0fx? 7Ls b'?:t 5g, ;f] df s'g} km/s k/]df xfdL ;+rfnsx?
k"0f{ ?kdf lhDd]jf/ x'g]5f}+ egL ;xL 5fk ug]{ ;+rfns tyf lj1x?sf] gfd tyf b:tvt .
l;=g+= ;+rfnsx?sf] gfd Kb b:tvt
!= >L afn s[i0f lzjfsf]6L cWoIf
@= >L dfs{08]o clwsf/L ;+rfns
#= >L Clifs]z uf}nL ;+rfns
$= >L /d]z /fh lzjfsf]6L ;+rfns
%= >L l8NnL k|;fb lzjfsf]6L ;+rfns
^= >L u'? k|;fb clwsf/L ;+rfns
&= >L yfg]Zj/ a:ofn ;+rfns
49
u=@$ lgisf;g tyf laqmL k|aGwssf] k|:t't u/]sf] k|lta4tf kq -8\o' 8]lnh]G;\ ;l6{lkms]6_ sf] k|lt M
50
u=@% ljj/0f-kq, ljQLo ljj/0f tyf cGo s'g} s'/fdf lj1n] /fo lbPsf] eP ;f] ;DaGwL kq M
51

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sDkgL P]g, @)^# cGtu{t ;+:yflkt / ;~rflnt

sflnGrf]s bz{g lnld6]8

k|lt z]o/ g]6jy{ -?=_ 76.19 80.68 78.15 89.34 96 105.2

k|lt z]o/ cfDbfgL (10) (7.05) (2.53) 2.77 4.53 9.20

u=@=;+ul7t ;+:yfsf] pb\3f]if0f M

u=@=s=;+rfnssf] lhDd]jf/L tyf hjfkmb]lxtf ;DaGwL pb\3f]if0f M

u=@=v=;+ul7t ;+:yfsf] hjfkmb]lxtf ;DaGwL pb\3f]if0f M

u=@=u=lgodg lgsfosf] lgodg Aoa:yfsf] kfngf ;DaGwL pb\3f]if0f M

u=@=3=;+:yfks, ;~rfns tyf sfo{sf/L k|d'v ;DaGwL pb\3f]if0f M

kl/of]hgfsf] ;fwf/0f nufgL lkmtf{ x'g] cjlw &=!( jif{

kl/of]hgfsf] l8:sfp06df nufgL lkmtf{ x'g] cjlw !) jif{

Internal Rate of Return (IRR) !^Ü

2073-74 0 1 (108,411,584) (108,411,584) (112,153,867) (108,411,584) (112,153,867)

2074-75 0 1 (204,288,499) (204,288,499) (316,442,365) (204,288,499) (316,442,365)

2075-76 0 1 (109,713,367) (109,713,367) (426,155,732) (109,713,367) (426,155,732)

2076-77 0 1 (20,580,169) (20,580,169) (446,735,902) (20,580,169) (446,735,902)

2077-78 0 1 (4,444,097) (4,444,097) (451,179,999) (4,444,097) (451,179,999)

2078-79 1 0.9009 (5,632,046) 28,045,068 22,413,023 (428,766,976) 20,191,912 (430,988,086)

2079-80 2 0.8116 (150,400,000) 42,279,340 (108,120,660) (536,887,635) (87,753,153) (518,741,239)

2080-81 3 0.7312 (89,654,288) 71,590,804 (18,063,483) (554,951,119) (13,207,863) (531,949,102)

2081-82 4 0.6587 (99,237,137) 134,495,063 35,257,926 (519,693,193) 23,225,488 (508,723,614)

2082-83 5 0.5935 (5,000,000) 147,082,671 142,082,671 (377,610,521) 84,319,150 (424,404,464)

2083-84 6 0.5346 161,790,939 161,790,939 (215,819,583) 86,500,043 (337,904,422)

2084-85 7 0.4817 177,970,032 177,970,032 (37,849,550) 85,720,763 (252,183,659)

2085-86 8 0.4339 195,767,036 195,767,036 157,917,485 84,948,504 (167,235,155)

2086-87 9 0.3909 215,343,739 215,343,739 373,261,225 84,183,202 (83,051,953)

2087-88 10 0.3522 236,878,113 236,878,113 610,139,338 83,424,795 372,842

2088-89 11 0.3173 260,565,924 260,565,924 870,705,262 82,673,220 83,046,062

2089-90 12 0.2858 286,622,517 286,622,517 1,157,327,779 81,928,416 164,974,479

2090-91 13 0.2575 315,284,769 315,284,769 1,472,612,548 81,190,322 246,164,801

2091-92 14 0.2320 346,813,245 346,813,245 1,819,425,793 80,458,878 326,623,679

2092-93 15 0.2090 381,494,570 381,494,570 2,200,920,363 79,734,023 406,357,702

2093-94 16 0.1883 419,644,027 419,644,027 2,620,564,390 79,015,699 485,373,401

2094-95 17 0.1696 461,608,430 461,608,430 3,082,172,820 78,303,846 563,677,247

2095-96 18 0.1528 507,769,273 507,769,273 3,589,942,093 77,598,406 641,275,653

2096-97 19 0.1377 558,546,200 558,546,200 4,148,488,293 76,899,321 718,174,974

qm=;+= kl/of]hgfsf] ljj/0f÷sfo{ xfnsf] cj:yf

-5_ cGo ljj/0fx? M M

 xfnsf] cg'kft (Current Ratio) M pRr cg'kftnfO{ /fd|f] dflgG5 .

s'n k/ndf]n 17,06,35,559.82 58,12,157.85 98,16,404.71 25,11,11,043.65 26,23,500 43,99,98,666.03

gf]6 M @=$# x]S6/ hUuf ;Dk"0f{ axfndf lnOPsf] jg If]q xf] .

u=#=u= efjL of]hgf tyf /0fgLlt M

u=#=3= ;~rfns ;ldltsf] ;+/rgf / k|ltlglwTj ;DaGwL Joj:yf M

;~rfnsx?sf] sfo{sfn $ jif{sf] /x]sf] 5 .

-v_ lgisf;g kl5sf]] r'Qmf k'FhL-;d"xs[t ul/Psf] cj:yfdf ;f]xL cg'?k_

u=%=;+:yfks÷;+rfns ;DaGwL hfgsf/L M

cfwf/e"t z]o/wgLsf] ljj/0f M

l;+ g+= Gffd, kb pd]/ /fli6«otf 7]ufgf z]o/ z}lIfs cg'ej

!$= b]jsf lzjfsf]6L %^ g]kfnL sflnGrf]s ^&,))) P;=Pn=l; u[lx0fL

!%= eujtL r6f}t $$ g]kfnL s~rgk'/ !&*,^&% :gfts u[lx0fL

!*= OlGb/f k/fh'nL $^ g]kfnL sf7df08f}+ !%*,(@) cfO=P Jofkf/ Joj;fo

!(= hnx/L $* g]kfnL sflnGrf]s %),)!) :gfts Jofkf/ Joj;fo

@@= ;'lznf b]lj %^ g]kfnL laxf8L )%, &%,))) P;=Pn=l; u[lx0fL

&= yfg]Zj/ a:ofn !!),))) l;=P÷ o; sDkgLdf kf6{g/ – a:ofn P08

l;4fy{ OGkm|f:6«Sr/ o; l;4fy{ OGkm|f:6«Sr/ – OGefO/f]d]G6 P08 l/;f];{

@ >L dfs{08]o clwsf/L cWoIf – P= lh nfOd k|f=ln=

# >L Clifs]z uf}nL l;l4 sG:6«S;g P08 ldg/N; OlG8li6«h k|f=ln= –

^ >L u'? k|;fb clwsf/L lgb]{zs – PSo'6 g]kfn k|f= ln=

u=^=;Lldt bfloTj ;DaGwL ljj/0f M

u=&=;+ul7t ;+:yfsf] sd{rf/L ;DaGwL ljj/0f M

u=&=s=;+ul7t ;+:yfsf] pRr Aoa:yfksLo txsf sd{rf/Lx? ;DaGwL ljj/0f M

qm=;+= sd{rf/Lsf] gfd kb of]Uotf lgo'lQm ldlt z]o/ ;+Vof sfof{g'ej

!= czf]s k|d'v :gftsf]Q/ @)&#÷)&÷@% %),))) k|d'v sfo{sf/L clws[t M sfln~rf]s

!= OlGb/f k/fh'nL $^ g]kfnL sf7df08f}+ !%,(@) cfO=P Jofkf/ Joj;fo