EPC (Cr.) - Incl. of Routine Main.

MM-1 Year 7 MM-2 Year 14 MM-3 Year 18 RBI Bank

GST but excl. (Cr. p.a.)- Incl. of
from COD from COD from COD Rate
Inflation GST
480.00 3.47 26.57 26.57 - 6.75%
 ROI during ROI during Inflation BPC (Quoted) - O&M 1st Year
NPV (Adjsuted
Construction Operation Increased by Incl GST on 40% (Quoted)- incl.
Bid Price)
Period Period (WPI and CPI) amount GST
9.60% 9.35% 0.00% 621.00 2.70 608.15
 ROI during
NPV as % of Average
Authority Cost Project IRR Equity IRR Min DSCR Bank Rate Construction
Authority Cost DSCR
(% p.a.)
488.51 124.49% 11.53% 15.65% 1.53 1.77 6.75% 9.60%
 ROI during Grant from Completion at
TPC (Rs. in Equity (Rs. in Debt (Rs. in
Operation (% NHAI (Rs. in the time of
Cr.) Cr.) Cr.)
p.a.) Cr.) COD
9.35% 531.80 84.09 186.00 261.71 784.63
SOP (Test Clause 8)
8(a) (i) Total Project Cost as defined in
8(a) (ii) Estimated Project Cost less Con
Lower of the two
Debt and Equity tie-up
Condition Satisfied (Y/N)
Total Project Cost as defined in MCA (60% of Bid Project Cost) 372.60 Cr.
Estimated Project Cost less Construction Support payable by Authority (40% of 240.11 Cr.
Lower of the two 240.11 Cr.
Debt and Equity tie-up 270.09 Cr.
Condition Satisfied (Y/N) Yes
Revised Bidding Excel
Input cells - Please enter values in these cells
Formula based cells - Please don't edit these

Name of the Project Six laning of Jodhpur Romana (Bathinda) – Mandi Dabwali
(Punjab/Haryana Border) section of NH-54 from Design Ch. 0.000
to Design Ch. 27.400 (Design length 27.40 km) in the state of
Punjab on Hybrid Annuity Mode
Name of the Bidder Ceigall India Limited

Bid Date 14-Oct-20

Appointed Date 26-Jun-21
COD 26-Jun-23
Inflation 5%
Construction Support 40%
Annuity Payment 60%
Bank rate 4.25%
Please fill in bid project cost only in this cell
Discounting rate 7.25%

Parameter Quoted Value (In Please fill in first year O&M quote in this cell
Rs. Crore)
Bid Project Cost 621.00
First year O&M quote (Annual) 2.70 10% 20% 20%
Date of Payments NPV 14-Oct-20 14-Sep-21 15-Apr-22 7-Aug-22
Inflation Multiple 0 105% 108% 109%
Construction support - 51.96 53.41 54.19
Adjusted BPC - 64.95 133.52 135.46
Completion cost to be paid out in O&M period
NPV of bid project cost 578.41
O&M payment - - - -
NPV of O&M 29.74
Bid Price 608.15
 25% 15% 10%
24-Oct-22 20-Mar-23 25-Jun-23 25-Dec-23 25-Jun-24 25-Dec-24 25-Jun-25 25-Dec-25 25-Jun-26 25-Dec-26
110% 112% 113% 116% 118% 121% 123% 126% 128% 131%
54.72 55.72 0.0 - - - - - - -
170.99 104.47 70.47
409.88

- - - 1.57 1.60 1.63 1.67 1.70 1.73 1.77

25-Jun-27 25-Dec-27 25-Jun-28 25-Dec-28 25-Jun-29 25-Dec-29 25-Jun-30 25-Dec-30 25-Jun-31
133% 136% 139% 141% 144% 146% 149% 151% 154%
- - - - - - - - -

1.80 1.84 1.87 1.90 1.94 1.97 2.00 2.04 2.07

25-Dec-31 25-Jun-32 25-Dec-32 25-Jun-33 25-Dec-33 25-Jun-34 25-Dec-34 25-Jun-35 25-Dec-35 25-Jun-36
156% 159% 161% 164% 166% 169% 171% 174% 176% 179%
- - - - - - - - - -

2.11 2.14 2.17 2.21 2.24 2.28 2.31 2.34 2.38 2.41
25-Dec-36 25-Jun-37 25-Dec-37 25-Jun-38
181% 184% 186% 189%
- - - -

2.44 2.48 2.51 2.55

 B C D E F G H I J K L M N O P Q
92 MM 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
93 Bank Rate 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75%
ROI on Debt
94 (during operation 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35%
prd)
95
Inflation
96
applicable Yr
97 14-Oct-20
98
99 Tax, Depreciation, DSRA & Performance Security
100 Taxation Performance Security Additional PS
Margin Money BG Cost DSRA/ PS Cash to be Deemed
Income Tax Applicability of Construction- PS Operation - maintaned PS (Cnstr)to
101 Particulars Section 115BAA Rate(%) MAT Rate (%) GST IndAS for DSRA and PS/APS/MA MA BG % Cr. for PS / be rlasd, after Performance Amount of APS Release of APS
MA Cr. APS Security
102 Applicable Yes 25.17% 0.00% 18.00% No 0.00% 0.60% 110.00% 18.63 - 0.00% 30% No 0 IIIrd Milestone
of BPC has
103 Y 115BAA 25.17% 0.00% of PS Amt been
expended
N 115BAA
104
(T<=400) 29.12% 17.47%
105
106
Date 5-Feb-26 5-Aug-26
Month End 28-Feb-26 31-Aug-26
Qtr end 31-Mar-26 30-Sep-26
Half Year Ended 31-Mar-26 30-Sep-26
Year Ending 31-Mar-26 31-Mar-27
Installment No. 1 2
1 1
1 1
Intallments of 40% of Bid Project Cost, during construction period
Installments % of Bid Project Cost during C 0%
Installments during Construction Period - Rs -

Intallments of 60% of Completion Cost, during operation period

Installments % of Completion Cost during O 100% 2.10% 2.17%
Installments during Operation Period - Rs. C 473.14 9.94 10.27

Prepayment of Annuity - - -

O/B 473.14 463.20

Payment by Authority 9.94 10.27
C/B 463.20 452.94
Interest Payment 23.07 22.58
Interest Rates - Simple 9.75% 9.75%

Change in Law on EPC to be received 11.10 -

Change in Law on Annuity to be received 0.90 0.93

Bonus on early completion

Bonus on early completion - - -
O&M Payments

Previous year end before O&M Payment dates 31-Mar-25 31-Mar-26

Price Index one year before aforementioned year 130.87 136.11
No. of Days from Previous year end 312 128
Inflation (70%WPI+30%CPI-IW) 3.47% 1.42%
31-Mar-26 31-Mar-27
Price Index as on date of Payment 135.41 138.04

Reference Index Multiple 1.35 1.38

O&M Payments - Rs. Cr. 73.92 1.83 1.86
CIL on O&M Receipts 0.10 0.10

Total Receipts to the Concessonaire during Operation Period

A-Payment of 60% of Completion Cost 473.14 9.94 10.27
B-Interest Paymnets 406.54 23.07 22.58
C-Bonus for early Completion - - -
D-O&M Payments 73.92 1.83 1.86
Total E=A+B+C+D 953.60 34.83 34.71

GST Calculation

GST Output Liability

On Annuity 1.52 1.57
On CIL on Annuity 0.14 0.14
On Interest on Annuity 4.15 4.06
On O&M receipts 0.29 0.30
ON EPC CIL 1.69 -

Total GST Output Liability 7.79 6.07

GST ITC received

Input received on O&M Costs 0.13 0.94

GST ITC - related to construction period

Opening Balance 36.60 33.25

Less: utilisation of GST ITC for Annuity Payment 3.35 1.71

Closing Balance 33.25 31.54

GST ITC related to operation period

Opening Balance - -
Add: GST ITC received 0.13 0.94
Less: GST output liability utilised 0.13 0.94
Less: GST ITC writeoff - -

Closing Balance of GST ITC - -

Inflow related to GST input - -

 5-Feb-27 5-Aug-27 5-Feb-28 5-Aug-28 5-Feb-29 5-Aug-29 5-Feb-30 5-Aug-30
28-Feb-27 31-Aug-27 29-Feb-28 31-Aug-28 28-Feb-29 31-Aug-29 28-Feb-30 31-Aug-30
31-Mar-27 30-Sep-27 31-Mar-28 30-Sep-28 31-Mar-29 30-Sep-29 31-Mar-30 30-Sep-30
31-Mar-27 30-Sep-27 31-Mar-28 30-Sep-28 31-Mar-29 30-Sep-29 31-Mar-30 30-Sep-30
31-Mar-27 31-Mar-28 31-Mar-28 31-Mar-29 31-Mar-29 31-Mar-30 31-Mar-30 31-Mar-31
3 4 5 6 7 8 9 10
0 1 0 1 0 1 0 1
1 1 1 1 1 1 1 1

2.24% 2.31% 2.38% 2.45% 2.52% 2.60% 2.68% 2.76%

10.60 10.93 11.26 11.59 11.92 12.30 12.68 13.06

- - - - - - - -

452.94 442.34 431.41 420.15 408.56 396.63 384.33 371.65

10.60 10.93 11.26 11.59 11.92 12.30 12.68 13.06
442.34 431.41 420.15 408.56 396.63 384.33 371.65 358.59
22.08 21.56 21.03 20.48 19.92 19.34 18.74 18.12
9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75%

- - - - - - - -

0.96 0.99 1.02 1.05 1.08 1.11 1.15 1.18

- - - - - - - -

31-Mar-26 31-Mar-27 31-Mar-27 31-Mar-28 31-Mar-28 31-Mar-29 31-Mar-29 31-Mar-30

136.11 141.55 141.55 147.22 147.22 153.10 153.10 159.23
312 128 312 128 312 128 312 128
3.47% 1.42% 3.47% 1.42% 3.47% 1.42% 3.47% 1.42%
31-Mar-27 31-Mar-28 31-Mar-28 31-Mar-29 31-Mar-29 31-Mar-30 31-Mar-30 31-Mar-31
140.83 143.57 146.46 149.31 152.32 155.28 158.41 161.49

1.41 1.44 1.46 1.49 1.52 1.55 1.58 1.61

1.90 1.94 1.98 2.02 2.06 2.10 2.14 2.18
0.10 0.10 0.11 0.11 0.11 0.11 0.11 0.12

10.60 10.93 11.26 11.59 11.92 12.30 12.68 13.06

22.08 21.56 21.03 20.48 19.92 19.34 18.74 18.12
- - - - - - - -
1.90 1.94 1.98 2.02 2.06 2.10 2.14 2.18
34.58 34.43 34.27 34.09 33.90 33.73 33.55 33.36

1.62 1.67 1.72 1.77 1.82 1.88 1.93 1.99

0.15 0.15 0.16 0.16 0.16 0.17 0.18 0.18
3.97 3.88 3.79 3.69 3.59 3.48 3.37 3.26
0.31 0.31 0.32 0.32 0.33 0.34 0.34 0.35
- - - - - - - -

6.04 6.01 5.98 5.94 5.90 5.86 5.83 5.78

0.47 0.49 0.49 0.51 0.51 0.54 0.54 0.56

31.54 29.78 27.96 26.09 24.16 22.18 20.13 18.02

1.76 1.82 1.87 1.93 1.98 2.05 2.11 2.17

29.78 27.96 26.09 24.16 22.18 20.13 18.02 15.85

- - - - - - - -
0.47 0.49 0.49 0.51 0.51 0.54 0.54 0.56
0.47 0.49 0.49 0.51 0.51 0.54 0.54 0.56
- - - - - - - -

- - - - - - - -

- - - - - - - -
 5-Feb-31 5-Aug-31 5-Feb-32 5-Aug-32 5-Feb-33 5-Aug-33 5-Feb-34 5-Aug-34
28-Feb-31 31-Aug-31 29-Feb-32 31-Aug-32 28-Feb-33 31-Aug-33 28-Feb-34 31-Aug-34
31-Mar-31 30-Sep-31 31-Mar-32 30-Sep-32 31-Mar-33 30-Sep-33 31-Mar-34 30-Sep-34
31-Mar-31 30-Sep-31 31-Mar-32 30-Sep-32 31-Mar-33 30-Sep-33 31-Mar-34 30-Sep-34
31-Mar-31 31-Mar-32 31-Mar-32 31-Mar-33 31-Mar-33 31-Mar-34 31-Mar-34 31-Mar-35
11 12 13 14 15 16 17 18
0 1 0 1 0 1 0 1
1 1 1 1 1 1 1 1

2.84% 2.93% 3.02% 3.11% 3.20% 3.30% 3.40% 3.50%

13.44 13.86 14.29 14.71 15.14 15.61 16.09 16.56

- - - - - - - -

358.59 345.16 331.29 317.00 302.29 287.15 271.53 255.45

13.44 13.86 14.29 14.71 15.14 15.61 16.09 16.56
345.16 331.29 317.00 302.29 287.15 271.53 255.45 238.89
17.48 16.83 16.15 15.45 14.74 14.00 13.24 12.45
9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75%

- - - - - - - -

1.22 1.26 1.29 1.33 1.37 1.41 1.46 1.50

- - - - - - - -

31-Mar-30 31-Mar-31 31-Mar-31 31-Mar-32 31-Mar-32 31-Mar-33 31-Mar-33 31-Mar-34

159.23 165.60 165.60 172.22 172.22 179.11 179.11 186.27
312 128 312 128 312 128 312 128
3.47% 1.42% 3.47% 1.42% 3.47% 1.42% 3.47% 1.42%
31-Mar-31 31-Mar-32 31-Mar-32 31-Mar-33 31-Mar-33 31-Mar-34 31-Mar-34 31-Mar-35
164.75 167.95 171.34 174.67 178.19 181.66 185.32 188.92

1.65 1.68 1.71 1.75 1.78 1.82 1.85 1.89

2.22 2.27 2.31 2.36 2.41 2.45 2.50 2.55
0.12 0.12 0.12 0.13 0.13 0.13 0.13 0.14

13.44 13.86 14.29 14.71 15.14 15.61 16.09 16.56

17.48 16.83 16.15 15.45 14.74 14.00 13.24 12.45
- - - - - - - -
2.22 2.27 2.31 2.36 2.41 2.45 2.50 2.55
33.14 32.96 32.75 32.53 32.28 32.06 31.83 31.56

2.05 2.11 2.18 2.24 2.31 2.38 2.45 2.53

0.19 0.19 0.20 0.20 0.21 0.22 0.22 0.23
3.15 3.03 2.91 2.78 2.65 2.52 2.38 2.24
0.36 0.36 0.37 0.38 0.39 0.39 0.40 0.41
- - - - - - - -

5.74 5.70 5.66 5.61 5.56 5.51 5.46 5.41

0.56 0.59 0.59 4.35 4.35 0.65 0.65 0.68

15.85 13.61 11.31 8.93 6.48 3.96 1.37 -

2.24 2.31 2.38 2.45 2.52 2.60 1.37 -

13.61 11.31 8.93 6.48 3.96 1.37 - -

- - - - 1.19 2.51 0.25 -

0.56 0.59 0.59 4.35 4.35 0.65 0.65 0.68
0.56 0.59 0.59 3.16 3.04 2.91 0.90 0.68
- - - - - - - -

- - - 1.19 2.51 0.25 - -

- - - -1.19 -1.31 2.26 0.25 -

 5-Feb-35 5-Aug-35 5-Feb-36 5-Aug-36 5-Feb-37 5-Aug-37 5-Feb-38 5-Aug-38
28-Feb-35 31-Aug-35 29-Feb-36 31-Aug-36 28-Feb-37 31-Aug-37 28-Feb-38 31-Aug-38
31-Mar-35 30-Sep-35 31-Mar-36 30-Sep-36 31-Mar-37 30-Sep-37 31-Mar-38 30-Sep-38
31-Mar-35 30-Sep-35 31-Mar-36 30-Sep-36 31-Mar-37 30-Sep-37 31-Mar-38 30-Sep-38
31-Mar-35 31-Mar-36 31-Mar-36 31-Mar-37 31-Mar-37 31-Mar-38 31-Mar-38 31-Mar-39
19 20 21 22 23 24 25 26
0 1 0 1 0 1 0 1
1 1 1 1 1 1 1 1

3.61% 3.72% 3.83% 3.94% 4.06% 4.18% 4.25% 4.25%

17.08 17.60 18.12 18.64 19.21 19.78 20.11 20.11

- - - - - - - -

238.89 221.81 204.21 186.09 167.44 148.23 128.46 108.35

17.08 17.60 18.12 18.64 19.21 19.78 20.11 20.11
221.81 204.21 186.09 167.44 148.23 128.46 108.35 88.24
11.65 10.81 9.96 9.07 8.16 7.23 6.26 5.28
9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75%

- - - - - - - -

1.55 1.59 1.64 1.69 1.74 1.79 1.82 1.82

- - - - - - - -

31-Mar-34 31-Mar-35 31-Mar-35 31-Mar-36 31-Mar-36 31-Mar-37 31-Mar-37 31-Mar-38

186.27 193.72 193.72 201.47 201.47 209.53 209.53 217.91
312 128 312 128 312 128 312 128
3.47% 1.42% 3.47% 1.42% 3.47% 1.42% 3.47% 1.42%
31-Mar-35 31-Mar-36 31-Mar-36 31-Mar-37 31-Mar-37 31-Mar-38 31-Mar-38 31-Mar-39
192.73 196.48 200.44 204.34 208.46 212.51 216.80 221.01

1.93 1.96 2.00 2.04 2.08 2.13 2.17 2.21

2.60 2.65 2.71 2.76 2.81 2.87 2.93 2.98
0.14 0.14 0.14 0.15 0.15 0.15 0.16 0.16

17.08 17.60 18.12 18.64 19.21 19.78 20.11 20.11

11.65 10.81 9.96 9.07 8.16 7.23 6.26 5.28
- - - - - - - -
2.60 2.65 2.71 2.76 2.81 2.87 2.93 2.98
31.33 31.07 30.78 30.47 30.19 29.87 29.30 28.37

2.61 2.68 2.76 2.84 2.93 3.02 3.07 3.07

0.24 0.24 0.25 0.26 0.27 0.27 0.28 0.28
2.10 1.95 1.79 1.63 1.47 1.30 1.13 0.95
0.42 0.43 0.43 0.44 0.45 0.46 0.47 0.48
- - - - - - - -

5.36 5.30 5.24 5.18 5.12 5.05 4.94 4.78

0.68 0.72 0.72 0.75 0.75 0.79 0.79 0.83

- - - - - - - -
- - - - - - - -

- - - - - - - -

- - - - - - - -
0.68 0.72 0.72 0.75 0.75 0.79 0.79 0.83
0.68 0.72 0.72 0.75 0.75 0.79 0.79 0.83
- - - - - - - -

- - - - - - - -

- - - - - - - -
 5-Feb-39 5-Aug-39 5-Feb-40 5-Aug-40 5-Feb-41 5-Aug-41 5-Feb-42 5-Aug-42
28-Feb-39 31-Aug-39 29-Feb-40 31-Aug-40 28-Feb-41 31-Aug-41 28-Feb-42 31-Aug-42
31-Mar-39 30-Sep-39 31-Mar-40 30-Sep-40 31-Mar-41 30-Sep-41 31-Mar-42 30-Sep-42
31-Mar-39 30-Sep-39 31-Mar-40 30-Sep-40 31-Mar-41 30-Sep-41 31-Mar-42 30-Sep-42
31-Mar-39 31-Mar-40 31-Mar-40 31-Mar-41 31-Mar-41 31-Mar-42 31-Mar-42 31-Mar-43
27 28 29 30 31 32 33 34
0 1 0 1 0 1 0 1
1 1 1 1 0 0 0 0

4.44% 4.71% 4.75% 4.75% 0.00% 0.00% 0.00% 0.00%

21.01 22.28 22.47 22.47 - - - -

- - - - - - - -

88.24 67.23 44.95 22.47 - - - -

21.01 22.28 22.47 22.47 - - - -
67.23 44.95 22.47 - - - - -
4.30 3.28 2.19 1.10 - - - -
9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75% 9.75%

- - - - - - - -

1.90 2.02 2.04 2.04 - - - -

- - - - - - - -

31-Mar-38 31-Mar-39 31-Mar-39 31-Mar-40 31-Mar-40 31-Mar-41 31-Mar-41 31-Mar-42

217.91 226.63 226.63 235.70 - - - -
312 128 312 128 312 128 312 128
3.47% 1.42% 3.47% 1.42% 3.47% 0.00% 0.00% 0.00%
31-Mar-39 31-Mar-40 31-Mar-40 31-Mar-41 31-Mar-41 31-Mar-42 31-Mar-42 31-Mar-43
225.47 229.85 234.49 239.05 - - - -

2.25 2.30 2.34 2.39 - - - -

3.04 3.10 3.17 3.23 - - - -
0.16 0.17 0.17 0.17 - - - -

21.01 22.28 22.47 22.47 - - - -

4.30 3.28 2.19 1.10 - - - -
- - - - - - - -
3.04 3.10 3.17 3.23 - - - -
28.35 28.67 27.83 26.80 - - - -

3.20 3.40 3.43 3.43 - - - -

0.29 0.31 0.31 0.31 - - - -
0.77 0.59 0.39 0.20 - - - -
0.49 0.50 0.51 0.52 - - - -
- - - - - - - -

4.76 4.80 4.64 4.45 - - - -

0.83 6.12 12.24 0.66 - - - -

- - - - - - - -
- - - - - - - -

- - - - - - - -

- - 5.03 16.37 - - - -
0.83 6.12 12.24 0.66 - - - -
0.83 1.09 0.90 0.72 - - - -
- - - 16.31 - - - -

- 5.03 16.37 - - - - -

- -5.03 -11.34 0.06 - - - -

 5-Feb-43 5-Aug-43 5-Feb-44 5-Aug-44 5-Feb-45 5-Aug-45
28-Feb-43 31-Aug-43 29-Feb-44 31-Aug-44 28-Feb-45 31-Aug-45
31-Mar-43 30-Sep-43 31-Mar-44 30-Sep-44 31-Mar-45 30-Sep-45
31-Mar-43 30-Sep-43 31-Mar-44 30-Sep-44 31-Mar-45 30-Sep-45
31-Mar-43 31-Mar-44 31-Mar-44 31-Mar-45 31-Mar-45 31-Mar-46
35 36 37 38 39 40
0 1 0 1 0 1
0 0 0 0 0 0

0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - -

- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
9.75% 9.75% 9.75% 9.75% 9.75% 9.75%

- - - - - -

- - - - - -

- - - - - -

31-Mar-42 31-Mar-43 31-Mar-43 31-Mar-44 31-Mar-44 31-Mar-45

- - - - - -
312 128 312 128 312 128
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
31-Mar-43 31-Mar-44 31-Mar-44 31-Mar-45 31-Mar-45 31-Mar-46
- - - - - -

- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -

- - - - - -

- - - - - -
- - - - - -

- - - - - -

- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -

- - - - - -
 FY 2021 2022
Year Factor (operation) 0% 0%

Inflation (% YoY) Mar/21 Mar/22

Mar/21 Mar/22
Inflation (70%WPI+30%CPI-IW) 0.00% 0.00%
Manpower / SPV Operation 6.00% 6.00%
RM 5.00% 5.00%
MM+Replacement 5.00% 5.00%
Bank Rate 6.75% 6.75%
ROI on Debt (during operation prd) 9.35% 9.35%

Price Index - -
Manpower / SPV Operation 1.00 1.06
RM 1.00 1.05
MM+Replacement 1.00 1.05
 2023 2024 2025 2026 2027 2028 2029 2030 2031
0% 0% 0% 15% 100% 100% 100% 100% 100%

Mar/23 Mar/24 Mar/25 Mar/26 Mar/27 Mar/28 Mar/29 Mar/30 Mar/31

Mar/23 Mar/24 Mar/25 Mar/26 Mar/27 Mar/28 Mar/29 Mar/30 Mar/31
0.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%
6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75%
9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35%

121.00 125.84 130.87 136.11 141.55 147.22 153.10 159.23 165.60

1.12 1.19 1.26 1.34 1.42 1.50 1.59 1.69 1.79
1.10 1.16 1.22 1.28 1.34 1.41 1.48 1.55 1.63
1.10 1.16 1.22 1.28 1.34 1.41 1.48 1.55 1.63
 2032 2033 2034 2035 2036 2037 2038 2039 2040
100% 100% 100% 100% 100% 100% 100% 100% 100%

Mar/32 Mar/33 Mar/34 Mar/35 Mar/36 Mar/37 Mar/38 Mar/39 Mar/40

Mar/32 Mar/33 Mar/34 Mar/35 Mar/36 Mar/37 Mar/38 Mar/39 Mar/40
4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%
6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75%
9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35%

172.22 179.11 186.27 193.72 201.47 209.53 217.91 226.63 235.70

1.90 2.01 2.13 2.26 2.40 2.54 2.69 2.85 3.03
1.71 1.80 1.89 1.98 2.08 2.18 2.29 2.41 2.53
1.71 1.80 1.89 1.98 2.08 2.18 2.29 2.41 2.53
 2041 2042 2043 2044 2045 2046 2047 2048 2049
36% 0% 0% 0% 0% 0% 0% 0% 0%

Aug/40
Mar/41
4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%
6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75% 6.75%
9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35% 9.35%

245.12 254.93 265.13 275.73 286.76 298.23 310.16 322.57 335.47

3.21 3.40 3.60 3.82 4.05 4.29 4.55 4.82 5.11
2.65 2.79 2.93 3.07 3.23 3.39 3.56 3.73 3.92
2.65 2.79 2.93 3.07 3.23 3.39 3.56 3.73 3.92
 2050 2051 2052 2053 2054 2055 2056 2057 2058
0% 0% 0% 0% 0% 0% 0% 0% 0%

Dec/99
Mar/00
4.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
6.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
6.75% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
9.35% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

348.89 348.89 348.89 348.89 348.89 348.89 348.89 348.89 348.89

5.42 5.42 5.42 5.42 5.42 5.42 5.42 5.42 5.42
4.12 4.12 4.12 4.12 4.12 4.12 4.12 4.12 4.12
4.12 4.12 4.12 4.12 4.12 4.12 4.12 4.12 4.12
 2059 2060 2061 2062 2063 2064 2065
0% 0% 0% 0% 0% 0% 0%

Dec/99 Dec/99 Dec/99 Dec/99 Dec/99 Dec/99 Dec/99

Mar/00 Mar/00 Mar/00 Mar/00 Mar/00 Mar/00 Mar/00
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

348.89 348.89 348.89 348.89 348.89 348.89 348.89

5.42 5.42 5.42 5.42 5.42 5.42 5.42
4.12 4.12 4.12 4.12 4.12 4.12 4.12
4.12 4.12 4.12 4.12 4.12 4.12 4.12
 Table - Cost Estimates-Pre COD
Amount in
Particulars GST included
(Rs. Cr.)
Civil Cost 480.00 73.22
Contingency Provision (0% for emergency job ) - -

Preoperative Expenses 3.65 0.46

Financing, Legal Expenses 4.30 0.66
IE Fee during Construction (Client's) 10.99 1.68
Deemed Performance Security -

Mob Adv. -Interest 1.43 -

IDC upto 1st Annuity 27.94 -
BG Charges 0.73 0.11
O&M till 1st Annuity 2.76 0.39
DSRA as part of Project Cost -
Less: Intt on cash margin -

Total Project Cost 531.80 76.52

Means of Finance (Part A - As per Base Case Plan)

NHAI Payment 248.40 37.89

Rupee Term loan 186.00 -
Promoters' Contribution 61.40 -

Total Means of Finance (Part A) 495.80 37.89

Means of Finance (Part B - Cost overrun)

Additional GST received on NHAI milestone 13.31 2.03

Promoter's contribution 22.69 -

Total Means of Finance (Part B) 36.00 2.03

Total Means of Finance (Part A + Part B) 531.80 39.92

Pre-Operative Expenses

Particular Basic Cost (Rs. GST Amount

Cr.)
Design & Engg Cost - -
Company formation exp. 0.50 0.09
Operation Cost (SPV/Admin) 0.62 -
PR Cost - -
Prebid Expenses 0.17 0.03
Other capital items- Prov. 1.89 0.34
Total 3.19 0.46

O&M Expenses from COD till 1st Annuity

Particular Basic Cost (Rs. GST Amount

Cr.)
Opertion Cost (SPV/Admin) 0.18 -
Routine Maintenance cost 1.95 0.35
Insurance during operation 0.12 0.02
Other Operating Expenses (Including IE Fee) 0.11 0.02
Total 2.36 0.39
 Base Amount GST @ Bid Date

406.78 48.81
-

3.19 0.46
3.65 0.66
9.31 1.68

1.43 -
27.94 -
0.62 0.11
2.36 0.26

455.28 51.98

210.51
186.00
61.40

457.91

11.28
22.69

33.97

491.88

Total Cost inclusive

of GST (Rs. Cr.)
-
0.60
 0.62
-
0.20
2.23
3.65

Total Cost inclusive

of GST (Rs. Cr.)
0.18
2.31
0.15
0.13
2.76
 Table - Cost Estimates-Post COD
Particulars Amount in (Rs. Cr.-p.a.)

Legal & Finance 0.11

Other Op. Costs (Incl. IE Fee,PMC) 0.08
Insurance 0.23
Opertion Cost (SPV/Admin) 0.31
Labour Cess on O&M 0.03
Routine Maint. 3.47
Major Mant. Date

MM 1 26.57
MM 2 26.57
MM 3 -
MM 4 -
MM 5 -
MM 6 -
MM 7 -
MM 8 -
Interest from COD till 1st Annuity -
O&M -

COST OF PROJECT
Construction Start date/Appointed Date 10-Aug-23
Construction End date 9-Aug-25

Common Quarter in Phase I & II

Schedule -G
Cumulative Progress 15.00%
Milestone as per Schedule G 0.00%
Work done to achieve Milestone Progress 0.00%
No. of days in the quarter of Milestone -
Total No. of days to achieve milestone -
Milestone to be achieved as per Sch. G -
Achieved (Y/ N) - Yes

15.00%
Particluars YE> 31-Mar-24
Start Date 10-Aug-23
End Date 10-Aug-23 30-Sep-23
No of Days in Finnacial Year as per Construction Schedule 730 52.00
% of EPC Charges in the quarter 100.00% 15.00%
% of Capital items in the quarter 100.00% 15.00%
% of Preliminary /pre-operative, Financing Fees 100.00% 50.00%
% of Advisory Costs, Insurance, Admin in the quarter 100.00% 50.00%

Construction Costs
EPC Cost (Inflation already Included) 72.00
Less: Receipt of Mobilisation Advance from Authority -
Add: Adjustment of Mobilisation Advance -
Add: Payment of Mobilisation Advance to EPC Cont. -
Less: Adjustment of Mobilisation Advance of EPC Cont. -
Add: Interest payment on Mob. Advance to Authority -
Total 72.00

Other Costs
Preoperative Expenses 1.82
Financing, Legal Expenses 2.15
IE Fee during Construction (Client's) 1.65

Total Cost for Project Commissioning 77.62

 Interest during construction
--Senior Debt -
--Sub Debt

Project Cost including IDC 77.62

BG Charges (Mobilisation Advance - DCA 23.8) -

BG Charges (PS as per CA) 0.33
O&M Expenses (till 1st Payment from MoRTH) -

Total Project Cost 77.95

Funds required for Opening DSRA on 1st Annuity -
Project Cost 77.95

Audit Expenditure as % of Actual TPC 100% 15.00%

Audit Cumulative Expenditure as % of Acutal TPC 15.00%
Audit Milestone Completed
Audit Milestone -1 10.00%
Audit Milestone -2 0.00%
Audit Milestone -3 0.00%
Audit Milestone -4 0.00%
Audit Milestone -5 0.00%
Audit 100% TPC Incurred Stage 0.00%
Audit
Audit No. of Milestone due in quarter 6 1
Audit Milestone Completed - No. of Days
Audit Milestone -1 34.67
Audit Milestone -2 -
Audit Milestone -3 -
Audit Milestone -4 -
Audit Milestone -5 -
Audit 100% TPC Incurred Stage -
Audit Milestone Completed - Date
Audit Milestone -1 13-Sep-23
Audit Milestone -2
Audit Milestone -3
Audit Milestone -4
Audit Milestone -5
Audit 100% TPC Incurred Stage

Means of Finance
YE 31-Mar-24
QE 30-Sep-23
Payment from MoRTH During Construction Period 49.68
Payment from NHAI for CIL on NHAI milestone Payments 2.66
Addition Funding required to meet project cost- cumulative 25.61
 INR. Cr.
Equity 84.09
Upfront Equity 84.09
Rest of the equity -

Payment from Authority 261.71

Debt 186.00
Sub Debt -
531.80
DER

Upfront Equity 25.61

Equity -
Payment from Authority during Construction Period 52.34
77.95

Equity Share Capital 9.35

Unsecured Loan Amount (As per Base Case) 9.35
Unsecured Loan Amount (Cost Overrun) 6.91

Senior Debt -
Sub Debt -
-

Debt Equity -
Deficit/ (Surplus) -
CHECK -

Means of Finance Schedule 31-Mar-24

Upfron Equity 25.61
Equity -
Equity for DSRA -
Grant (Equity Support) 52.34
Total Equity 25.61

Senior Debt -
Sub Debt -
Total 25.61

Inflation (70%WPI+30%CPI-IW) 1.00

Manpower / SPV Operation 1.00
RM 1.00
MM+Replacement 1.00
EXPENDITURE - between COD and 1st Payment from Authority
Opertion Cost (SPV/Admin) -
Routine Maintenance cost -
Insurance during operation -
Other Operating Expenses (Including IE Fee) -
TOTAL -
GST included above -

GST Calculation

GST ITC

on EPC Costs 10.98

on Non EPC Costs 0.86
On O&M Costs -

Total GST Input Tax Credit 11.84

GST Output Liability

On Milestone Payments 7.58

On GST CIL received on Milestone Payments 0.41

Total GST output Liability 7.98

Opening Balance -
Add: GST ITC received 11.84
Less: GST ITC utilised 7.98
Closing Balance 3.86
 - - - - - - - 2.39
- - - - - - - 0.79

QE
30-Sep-25 Phase I Phase II
No. of Days 365 365

- - - 1 - - - -

35.00% 55.00% 73.00% 89.50% 96.50% 99.00% 99.50% 100.00%

20.00% 0.00% 0.00% 75.00% 0.00% 0.00% 0.00% 100.00%
5.00% 0.00% 0.00% 2.00% 0.00% 0.00% 0.00% 0.50%
23 - - 11 - - - 39
75 - - 337 - - - 730
160 - - 485 - - - 730
Yes Yes Yes Yes Yes Yes Yes Yes

9-Aug-25
- - - - - - - 52.0

35.00% 55.00% 73.00% 89.50% 96.50% 99.00% 99.50% 100.00%

31-Mar-24 31-Mar-24 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-26 31-Mar-26
1-Oct-23 1-Jan-24 1-Apr-24 1-Jul-24 1-Oct-24 1-Jan-25 1-Apr-25 1-Jul-25
31-Dec-23 31-Mar-24 30-Jun-24 30-Sep-24 31-Dec-24 31-Mar-25 30-Jun-25 30-Sep-25
92.00 91.00 91.00 92.00 92.00 90.00 91.00 39.00
20.00% 20.00% 18.00% 16.50% 7.00% 2.50% 0.50% 0.50%
20.00% 20.00% 18.00% 16.50% 7.00% 2.50% 0.50% 0.50%
30.00% 20.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

96.00 96.00 86.40 79.20 33.60 12.00 2.40 2.40

62.10 - - - - - - -
31.05 15.53 - 15.53 - - - -
62.10 - - - - - - -
31.05 15.53 - 15.53 - - - -
- - - - 1.43 - - -
96.00 96.00 86.40 79.20 35.03 12.00 2.40 2.40

1.09 0.73 - - - - - -
1.29 0.86 - - - - - -
2.20 2.20 1.98 1.81 0.77 0.27 0.05 0.05

100.58 99.79 88.38 81.01 35.80 12.27 2.45 2.45

 - 0.46 2.00 3.47 3.85 3.90 4.02 4.18

100.58 100.24 90.38 84.48 39.66 16.17 6.47 6.64

0.41 - - - - - - -
- - - - - - - -
- - - - - - - 0.79

100.99 100.24 90.38 84.48 39.66 16.17 6.47 7.43

- - - - - - - -
100.99 100.24 90.38 84.48 39.66 16.17 6.47 7.43

20.00% 20.00% 18.00% 16.50% 7.00% 2.50% 0.50% 0.50%

35.00% 55.00% 73.00% 89.50% 96.50% 99.00% 99.50% 100.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

30.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 50.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 75.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 90.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 100.00%

1 1 - 1 1 - - 1

- - - - - - - -
69.00 - - - - - - -
- 68.25 - - - - - -
- - - 11.15 - - - -
- - - - 6.57 - - -
- - - - - - - 39.00

8-Dec-23
8-Mar-24
11-Jul-24
6-Oct-24
8-Aug-25

31-Mar-24 31-Mar-24 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-26 31-Mar-26

31-Dec-23 31-Mar-24 30-Jun-24 30-Sep-24 31-Dec-24 31-Mar-25 30-Jun-25 30-Sep-25
49.68 49.68 - 49.68 49.68 - - -
2.66 2.66 - 2.66 2.66 - - -
74.26 122.16 212.54 244.68 231.99 248.16 254.63 262.06
 Check D:E(532Cr.) D:E(270Cr.)
- 15.81% 31% Equity Share Capital
- 100% 100% Unsecured Loan (as per Base Case)
- 0% 0% Unsecured Loan (Cost Overrun)
Total Promoters Contribution
- 49.21%

- 34.98% 69% D:E 2.21

- 0% 0%
-

58.49 - - - - - - -
- - - - - - - -
52.34 52.34 - 52.34 52.34 - - -
188.78 241.12 241.12 293.46 345.80 345.80 345.80 345.80

21.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00

21.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00
15.78 0.00 0.00 0.00 0.00 0.00 0.00 0.00

- 38.07 90.38 32.14 - 3.48 6.47 7.43

- - - - - - - -
- 38.07 128.44 160.58 160.58 164.07 170.54 177.97

- 0.45 1.53 1.91 1.91 1.95 2.03 2.12

(9.84) - - - (12.69) - - (0.00)
- - - - - - - -

31-Mar-24 31-Mar-24 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-26 31-Mar-26

58.49 - - - - - - -
- - - - - - - -
- - - - - - - -
52.34 52.34 - 52.34 52.34 - - -
58.49 - - - - - - -

- 38.07 90.38 32.14 - 3.48 6.47 7.43

- - - - - - - -
58.49 38.07 90.38 32.14 - 3.48 6.47 7.43

1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08

1.02 1.03 1.05 1.06 1.08 1.09 1.11 1.13
1.01 1.03 1.04 1.05 1.06 1.08 1.09 1.10
1.01 1.03 1.04 1.05 1.06 1.08 1.09 1.10
 - - - - - - - 0.05
- - - - - - - 0.56
- - - - - - - 0.04
- - - - - - - 0.03
- - - - - - - 0.68
- - - - - - - 0.11

14.64 14.64 13.18 12.08 5.13 1.83 0.37 0.37

0.73 0.56 0.30 0.28 0.12 0.04 0.01 0.01
- - - - - - - 0.11

15.38 15.20 13.48 12.36 5.24 1.87 0.37 0.49

7.58 7.58 - 7.58 7.58 - - -

0.41 0.41 - 0.41 0.41 - - -

7.98 7.98 - 7.98 7.98 - - -

3.86 11.25 18.47 31.95 36.33 33.58 35.46 35.83

15.38 15.20 13.48 12.36 5.24 1.87 0.37 0.49
7.98 7.98 - 7.98 7.98 - - -
11.25 18.47 31.95 36.33 33.58 35.46 35.83 36.32
 4.34 1.73 - - - - - -
1.40 0.56 - - - - - -

- - - - - - - -

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - -
- - - - - - - -
- - - - - - - -
Yes Yes Yes Yes Yes Yes Yes Yes

5-Feb-26
92.0 36.0 - - - - - -

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

31-Mar-26 31-Mar-26 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-28 31-Mar-28
1-Oct-25 1-Jan-26 1-Apr-26 1-Jul-26 1-Oct-26 1-Jan-27 1-Apr-27 1-Jul-27
31-Dec-25 31-Mar-26 30-Jun-26 30-Sep-26 31-Dec-26 31-Mar-27 30-Jun-27 30-Sep-27
- - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
 4.34 1.73 - - - - - -

4.34 1.73 - - - - - -

- - - - - - - -
- - - - - - - -
1.40 0.56 - - - - - -

5.74 2.29 - - - - - -
- - - - - - - -
5.74 2.29 - - - - - -

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

31-Mar-26 31-Mar-26 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-28 31-Mar-28

31-Dec-25 31-Mar-26 30-Jun-26 30-Sep-26 31-Dec-26 31-Mar-27 30-Jun-27 30-Sep-27
- - - - - - - -
- - - - - - - -
267.81 270.09 270.09 270.09 270.09 270.09 270.09 270.09
 30.70 36.51%
30.70 36.51%
22.69 26.98%
84.09 100.00%

- - - - - - - -
- - - - - - - -
- - - - - - - -
345.80 345.80 345.80 345.80 345.80 345.80 345.80 345.80

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

5.74 2.29 - - - - - -
- - - - - - - -
183.71 186.00 186.00 186.00 186.00 186.00 186.00 186.00

2.18 2.21 2.21 2.21 2.21 2.21 2.21 2.21

(0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00)
- - - - - - - -

31-Mar-26 31-Mar-26 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-28 31-Mar-28

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

5.74 2.29 - - - - - -
- - - - - - - -
5.74 2.29 - - - - - -

1.09 1.10 1.12 1.13 1.14 1.15 1.16 1.17

1.14 1.16 1.18 1.20 1.21 1.23 1.25 1.27
1.12 1.13 1.15 1.16 1.18 1.19 1.20 1.22
1.12 1.13 1.15 1.16 1.18 1.19 1.20 1.22
 0.09 0.04 - - - - - -
0.99 0.40 - - - - - -
0.06 0.03 - - - - - -
0.06 0.02 - - - - - -
1.20 0.48 - - - - - -
0.20 0.08 - - - - - -

- - - - - - - -
- - - - - - - -
0.20 0.08 - - - - - -

0.20 0.08 - - - - - -

- - - - - - - -
- - - - - - - -

- - - - - - - -

36.32 36.52 - - - - - -
0.20 0.08 - - - - - -
- - - - - - - -
36.52 36.60 - - - - - -
 - - - 8.46
- - - 2.76

- - -

100.00% 100.00% 100.00%

0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
- - -
- - -
- - -
Yes Yes Yes

- - -

100.00% 100.00% 100.00%

31-Mar-28 31-Mar-28 31-Mar-29 Total
1-Oct-27 1-Jan-28 1-Apr-28
31-Dec-27 31-Mar-28 30-Jun-28
- - -
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%

- - - 480.00
- - - 62.10
- - - 62.10
- - - 62.10
- - - 62.10
- - - 1.43
- - - 481.43

- - - 3.65
- - - 4.30
- - - 10.99

- - - 500.37
 - - - 27.94

- - - 528.31

- - - 0.41
- - - 0.33
- - - 2.76

- - - 531.80
- - - -
- - - 531.80

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%

0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%
0.00% 0.00% 0.00%

- - -

- - -
- - -
- - -
- - -
- - -
- - -

31-Mar-28 31-Mar-28 31-Mar-29 Total

31-Dec-27 31-Mar-28 30-Jun-28
- - - 248.40
- - - 13.31
270.09 270.09 270.09 270.09
 - - - 84.09 31% of (TPC-Eq. Support)
- - - - 0% of (TPC-Eq. Support)
- - - 261.71
345.80 345.80 345.80

0.00 0.00 0.00

0.00 0.00 0.00
0.00 0.00 0.00

- - - 186.00 69% of (TPC-Eq. Support)

- - - - 0% of (TPC-Eq. Support)
186.00 186.00 186.00
270.09 ---- (TPC-Eq. Support)

2.21 2.21 2.21

(0.00) (0.00) (0.00)
- - -

31-Mar-28 31-Mar-28 31-Mar-29 Total

- - - 84.09
- - - -
- - - -
- - - 261.71
- - - 84.09

- - - 186.00
- - - -
- - - 270.09

1.18 1.20 1.21 1.21 1.21 1.21 1.21 1.21

1.29 1.31 1.33 1.33 1.33 1.33 1.33 1.33
1.24 1.25 1.27 1.27 1.27 1.27 1.27 1.27
1.24 1.25 1.27 1.27 1.27 1.27 1.27 1.27
- - -
- - -
- - -
- - -
- - -
- - -

- - -
- - -
- - -

- - -

- - -
- - -

- - -

- - -
- - -
- - -
- - -
1.21 1.21 1.21 1.21 1.21 1.21 1.21 1.21 1.21
1.33 1.33 1.33 1.33 1.33 1.33 1.33 1.33 1.33
1.27 1.27 1.27 1.27 1.27 1.27 1.27 1.27 1.27
1.27 1.27 1.27 1.27 1.27 1.27 1.27 1.27 1.27
1.21
1.33
1.27
1.27
Interest Rates (Sr. Debt):
Rate of interest Thereafter
9.60% 9.35%

Senior Debt
Loan Repayment Schedule - Quarterly
Quarter Ended 3 30-Sep-23 31-Dec-23
Calander Year 2023 2023
Financial Year Ended 31-Mar-24 31-Mar-24
Opening Debt - -
Addition 186.00 - -
Senior Debt Repayment 186.00 - -
Closing Debt Okay - -
Interest 9.60% - -
31-Mar-26 9.35% -

IDC - -

Principal Amortization Schedule- Senior Debt

Date Quarter Year Ending
Ending

Construction Start Date 10-Aug-23 30-Sep-23 31-Mar-24

Construction End Date 9-Aug-25 30-Sep-25 31-Mar-26
Concession End Date 9-Aug-40 30-Sep-40 31-Mar-41 36%
Repayment Start Date 9-Mar-26 31-Mar-26 31-Mar-26
Repayment End Date 10-Sep-38 30-Sep-38 31-Mar-39 45%
Concession Period 16.99
Repayment 15.08
Moratorium Years 0.58

1.77 1.77
Debt Repayment Schedule
100.00% 100.00%

Checks

Repayment Period
 30-Sep-23 31-Dec-23
31-Mar-24 31-Mar-24
100.00% 0.00% 0.00%
0.00% 0.00% 0.00%

DSCR - -
31-Mar-24 30-Jun-24 30-Sep-24 31-Dec-24 31-Mar-25 30-Jun-25 30-Sep-25
2024 2024 2024 2024 2025 2025 2025
31-Mar-24 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-26 31-Mar-26
- 38.07 128.44 160.58 160.58 164.07 170.54
38.07 90.38 32.14 - 3.48 6.47 7.43
- - - - - - -
38.07 128.44 160.58 160.58 164.07 170.54 177.97
0.46 2.00 3.47 3.85 3.90 4.02 4.18

0.46 2.00 3.47 3.85 3.90 4.02 4.18

Principal Amortization Schedule- Sub Debt

Date Quarter Year Ending
Ending

Construction Start Date 10-Aug-23 30-Sep-23 31-Mar-24

Construction End Date 9-Aug-25 30-Sep-25 31-Mar-26
Concession End Date 9-Aug-40 30-Sep-40 31-Mar-41 36%
Repayment Start Date 9-Aug-26 30-Sep-26 31-Mar-27
Repayment Date 10-Aug-37 30-Sep-37 31-Mar-38 36%
Concession Period 15.00
Repayment Period 14.00
Moratorium Years 1.00

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

31-Mar-24 30-Jun-24 30-Sep-24 31-Dec-24 31-Mar-25 30-Jun-25 30-Sep-25
31-Mar-24 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-25 31-Mar-26 31-Mar-26
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - 3.52 3.52
31-Dec-25 31-Mar-26 30-Jun-26 30-Sep-26 31-Dec-26 31-Mar-27 30-Jun-27
2025 2026 2026 2026 2026 2027 2027
31-Mar-26 31-Mar-26 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-28
177.97 183.71 181.82 181.82 177.63 177.63 172.98
5.74 2.29 - - - - -
- 4.19 - 4.19 - 4.65 -
183.71 181.82 181.82 177.63 177.63 172.98 172.98
4.34 4.39 4.25 4.20 4.15 4.10 4.04

4.34 1.73 - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

31-Mar-26
31-Dec-25 31-Mar-26 30-Jun-26 30-Sep-26 31-Dec-26 31-Mar-27 30-Jun-27
31-Mar-26 31-Mar-26 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-27 31-Mar-28
0.00% 2.25% 0.00% 2.25% 0.00% 2.50% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

3.52 3.52 1.90 1.90 1.90 1.90 1.76

30-Sep-27 31-Dec-27 31-Mar-28 30-Jun-28 30-Sep-28 31-Dec-28 31-Mar-29
2027 2027 2028 2028 2028 2028 2029
31-Mar-28 31-Mar-28 31-Mar-28 31-Mar-29 31-Mar-29 31-Mar-29 31-Mar-29
172.98 168.33 168.33 161.82 161.82 155.31 155.31
- - - - - - -
4.65 - 6.51 - 6.51 - 6.98
168.33 168.33 161.82 161.82 155.31 155.31 148.33
3.99 3.93 3.86 3.78 3.71 3.63 3.55

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Sep-27 31-Dec-27 31-Mar-28 30-Jun-28 30-Sep-28 31-Dec-28 31-Mar-29
31-Mar-28 31-Mar-28 31-Mar-28 31-Mar-29 31-Mar-29 31-Mar-29 31-Mar-29
2.50% 0.00% 3.50% 0.00% 3.50% 0.00% 3.75%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

1.76 1.76 1.76 1.66 1.66 1.66 1.66

 30-Jun-29 30-Sep-29 31-Dec-29 31-Mar-30 30-Jun-30 30-Sep-30 31-Dec-30
2029 2029 2029 2030 2030 2030 2030
31-Mar-30 31-Mar-30 31-Mar-30 31-Mar-30 31-Mar-31 31-Mar-31 31-Mar-31
148.33 148.33 141.36 141.36 134.39 134.39 127.41
- - - - - - -
- 6.98 - 6.98 - 6.98 -
148.33 141.36 141.36 134.39 134.39 127.41 127.41
3.47 3.39 3.30 3.22 3.14 3.06 2.98

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

 30-Jun-29 30-Sep-29 31-Dec-29 31-Mar-30 30-Jun-30 30-Sep-30 31-Dec-30
31-Mar-30 31-Mar-30 31-Mar-30 31-Mar-30 31-Mar-31 31-Mar-31 31-Mar-31
0.00% 3.75% 0.00% 3.75% 0.00% 3.75% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

1.67 1.67 1.67 1.67 1.67 1.67 1.67

31-Mar-31 30-Jun-31 30-Sep-31 31-Dec-31 31-Mar-32 30-Jun-32 30-Sep-32
2031 2031 2031 2031 2032 2032 2032
31-Mar-31 31-Mar-32 31-Mar-32 31-Mar-32 31-Mar-32 31-Mar-33 31-Mar-33
127.41 119.97 119.97 112.53 112.53 104.16 104.16
- - - - - - -
7.44 - 7.44 - 8.37 - 8.37
119.97 119.97 112.53 112.53 104.16 104.16 95.79
2.89 2.80 2.72 2.63 2.53 2.43 2.34

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

31-Mar-31 30-Jun-31 30-Sep-31 31-Dec-31 31-Mar-32 30-Jun-32 30-Sep-32
31-Mar-31 31-Mar-32 31-Mar-32 31-Mar-32 31-Mar-32 31-Mar-33 31-Mar-33
4.00% 0.00% 4.00% 0.00% 4.50% 0.00% 4.50%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

1.67 1.62 1.62 1.62 1.62 1.73 1.73

31-Dec-32 31-Mar-33 30-Jun-33 30-Sep-33 31-Dec-33 31-Mar-34 30-Jun-34
2032 2033 2033 2033 2033 2034 2034
31-Mar-33 31-Mar-33 31-Mar-34 31-Mar-34 31-Mar-34 31-Mar-34 31-Mar-35
95.79 95.79 87.42 87.42 79.98 79.98 71.61
- - - - - - -
- 8.37 - 7.44 - 8.37 -
95.79 87.42 87.42 79.98 79.98 71.61 71.61
2.24 2.14 2.04 1.96 1.87 1.77 1.67

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

31-Dec-32 31-Mar-33 30-Jun-33 30-Sep-33 31-Dec-33 31-Mar-34 30-Jun-34
31-Mar-33 31-Mar-33 31-Mar-34 31-Mar-34 31-Mar-34 31-Mar-34 31-Mar-35
0.00% 4.50% 0.00% 4.00% 0.00% 4.50% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

1.73 1.73 1.53 1.53 1.53 1.53 1.65

30-Sep-34 31-Dec-34 31-Mar-35 30-Jun-35 30-Sep-35 31-Dec-35 31-Mar-36
2034 2034 2035 2035 2035 2035 2036
31-Mar-35 31-Mar-35 31-Mar-35 31-Mar-36 31-Mar-36 31-Mar-36 31-Mar-36
71.61 63.24 63.24 54.87 54.87 46.50 46.50
- - - - - - -
8.37 - 8.37 - 8.37 - 9.30
63.24 63.24 54.87 54.87 46.50 46.50 37.20
1.58 1.48 1.38 1.28 1.18 1.09 0.98

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Sep-34 31-Dec-34 31-Mar-35 30-Jun-35 30-Sep-35 31-Dec-35 31-Mar-36
31-Mar-35 31-Mar-35 31-Mar-35 31-Mar-36 31-Mar-36 31-Mar-36 31-Mar-36
4.50% 0.00% 4.50% 0.00% 4.50% 0.00% 5.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

1.65 1.65 1.65 1.64 1.64 1.64 1.64

 30-Jun-36 30-Sep-36 31-Dec-36 31-Mar-37 30-Jun-37 30-Sep-37 31-Dec-37
2036 2036 2036 2037 2037 2037 2037
31-Mar-37 31-Mar-37 31-Mar-37 31-Mar-37 31-Mar-38 31-Mar-38 31-Mar-38
37.20 37.20 27.90 27.90 19.53 19.53 11.16
- - - - - - -
- 9.30 - 8.37 - 8.37 -
37.20 27.90 27.90 19.53 19.53 11.16 11.16
0.87 0.76 0.65 0.55 0.46 0.36 0.26

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

 30-Jun-36 30-Sep-36 31-Dec-36 31-Mar-37 30-Jun-37 30-Sep-37 31-Dec-37
31-Mar-37 31-Mar-37 31-Mar-37 31-Mar-37 31-Mar-38 31-Mar-38 31-Mar-38
0.00% 5.00% 0.00% 4.50% 0.00% 4.50% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

1.71 1.71 1.71 1.71 2.19 2.19 2.19

31-Mar-38 30-Jun-38 30-Sep-38 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
2038 2038 2038 0 0 0 0
31-Mar-38 31-Mar-39 31-Mar-39 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
11.16 5.58 5.58 - - - -
- - - - - - -
5.58 - 5.58 - - - -
5.58 5.58 - - - - -
0.20 0.13 0.07 - - - -

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Sep-38
31-Mar-38 30-Jun-38 30-Sep-38 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
31-Mar-38 31-Mar-39 31-Mar-39 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
3.00% 0.00% 3.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

2.19 2.39 2.39 - - - -

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0 0
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - - -
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0 0
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - - -
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0 0
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - -
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0 0
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0 0
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0 0
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0 0
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0 0
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

- - - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0 0 0 0 0 0
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

- - - - - -

1.77 1.77 1.77 1.77 1.77 1.77 1.77

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99 30-Dec-99
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
 1.77 1.77

100.00% 100.00%
30-Dec-99 30-Dec-99
30-Dec-99 30-Dec-99
0.00% 0.00%
0.00% 0.00%
TAX SCHEDULE
80 IA Eligibility 0 11 12
Year Ended 31-Mar-21 31-Mar-22
Profit before tax 335.92 - -

Add : Depreciation (books) 213.27 - -

Less : Deduction as per Sec. 35AD/ Normal 213.27 - -

Operating Profit 335.92 - -
Carry forward available u/s. 35AD - -
Less: Set off of Carry Forward Losses - -
Taxable Profit 337.20 - -

Corporate Tax @ 25.168 % - -

Tax Payable 84.87 - -

MAT @ 0 % - - -

Tax Payable 84.87 - -

 13 14 15 16 17 18 19
31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27 31-Mar-28 31-Mar-29
- - - 2.38 20.75 21.08 21.54

- - - 8.46 16.18 16.02 15.82

- - - 8.46 16.18 16.02 15.82

- - - 2.38 20.75 21.08 21.54
- - - - - - -
- - - - - - -
- - - 2.38 20.75 21.08 21.54

- - - 0.60 5.22 5.31 5.42

- - - 0.60 5.22 5.31 5.42

- - - - - - -

- - - 0.60 5.22 5.31 5.42

 20 21 22 23 24 25 26
31-Mar-30 31-Mar-31 31-Mar-32 31-Mar-33 31-Mar-34 31-Mar-35 31-Mar-36
22.05 23.09 23.53 28.63 18.94 23.74 24.59

15.63 14.78 14.57 14.32 14.08 13.81 13.52

15.63 14.78 14.57 14.32 14.08 13.81 13.52

22.05 23.09 23.53 28.63 18.94 23.74 24.59
- - - - - - -
- - - - - - -
22.05 23.09 23.53 28.63 18.94 23.74 24.59

5.55 5.81 5.92 7.21 4.77 5.98 6.19

5.55 5.81 5.92 7.21 4.77 5.98 6.19

- - - - - - -

5.55 5.81 5.92 7.21 4.77 5.98 6.19

 27 28 29
31-Mar-37 31-Mar-38 31-Mar-39
25.40 25.75 24.78

13.21 12.82 12.23

13.21 12.82 12.23

25.40 25.75 24.78
- - -
- - -
25.40 25.75 24.78

6.39 6.48 6.24

6.39 6.48 6.24

- - -

6.39 6.48 6.24

 C D E F G H I J K L M
163 DSCR Statement
164 SENIOR DEBT Year Ended> 31-Mar-21 31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 31-Mar-27 31-Mar-28
165 Profit After Tax 251.06 - - - - - 1.78 15.53 15.78
166 Depreciation 213.27 - - - - - 8.46 16.18 16.02
167 Interest on Senior Debt 126.18 - - - - - 11.12 16.70 15.83
169 Interest and O&M exp. from COD till 1st Annuity 11.21 - - - - - 11.21 - -
170 Less: Interest from COD till 1st Annuity (Part of project cost) 8.46 - - - - - 8.46 - -
175 Total Cash Available for DSCR (Sr Debt) - - - - - 24.12 48.41 47.62
177 Loan Repayment (Senior Debt) - - - - - 4.19 8.84 11.16
178 Interest on Senior Debt - - - - - 2.66 16.70 15.83
179 Total Sr Debt (Interest+ Principal Repayments) - - - - - 6.85 25.54 26.99
180
181 DSCR 3.52 1.90 1.76
182
183 Average DSCR 1.77
184 Min DSCR 1.53
185 Max DSCR 3.52
 C N O P Q R S T U V W X
163 DSCR Statement
164 SENIOR DEBT 31-Mar-29 31-Mar-30 31-Mar-31 31-Mar-32 31-Mar-33 31-Mar-34 31-Mar-35 31-Mar-36 31-Mar-37 31-Mar-38 31-Mar-39
165 Profit After Tax 16.12 16.50 17.28 17.61 21.43 14.17 17.77 18.40 19.01 19.27 18.54
166 Depreciation 15.82 15.63 14.78 14.57 14.32 14.08 13.81 13.52 13.21 12.82 12.23
167 Interest on Senior Debt 14.67 13.38 12.07 10.68 9.15 7.64 6.11 4.53 2.84 1.27 0.20
169 Interest and O&M exp. from COD till 1st Annuity - - - - - - - - - - -
170 Less: Interest from COD till 1st Annuity (Part of project cost) - - - - - - - - - - -
175 Total Cash Available for DSCR (Sr Debt) 46.61 45.51 44.13 42.86 44.90 35.89 37.68 36.46 35.05 33.36 30.97
177 Loan Repayment (Senior Debt) 13.49 13.95 14.42 15.81 16.74 15.81 16.74 17.67 17.67 13.95 5.58
178 Interest on Senior Debt 14.67 13.38 12.07 10.68 9.15 7.64 6.11 4.53 2.84 1.27 0.20
179 Total Sr Debt (Interest+ Principal Repayments) 28.15 27.33 26.49 26.49 25.89 23.45 22.85 22.20 20.51 15.22 5.78
180
181 DSCR 1.66 1.67 1.67 1.62 1.73 1.53 1.65 1.64 1.71 2.19 2.39
182
183 Average DSCR
184 Min DSCR
185 Max DSCR
 C Y Z AA AB AC AD
163 DSCR Statement
164 SENIOR DEBT 31-Mar-40 9-Aug-40
165 Profit After Tax 23.17 (1.28) - - - -
166 Depreciation 12.11 5.71 - - - -
167 Interest on Senior Debt - - - - - -
169 Interest and O&M exp. from COD till 1st Annuity - - - - - -
170 Less: Interest from COD till 1st Annuity (Part of project cost) - - - - - -
175 Total Cash Available for DSCR (Sr Debt) 35.28 4.43 - - - -
177 Loan Repayment (Senior Debt) - - - - - -
178 Interest on Senior Debt - - - - - -
179 Total Sr Debt (Interest+ Principal Repayments) - - - - - -
180
181 DSCR
182
183 Average DSCR
184 Min DSCR
185 Max DSCR
 Year 31/Mar/24 31/Mar/25
Gross Revenue 287.09 241.23
Revenue ICDS-IV (Revenue
Recognition)-Interest/ Financial - 17.24
Income

Other Income -Interest Income on FD - -

Revenue -ICDS III (Construction

287.09 223.99
Contracts)
Project Cost Excl. IDC (EPC + Non EPC)
278.73 217.47
till COD
O&M Cost (Post COD) - -
Profit -ICDS III (Construction
8.36 6.52
Contracts)
Interest Cost (Pre & Post COD) 0.46 13.22
PBT (Book Profit after IndAs)- ICDS III
7.91 10.55
and ICDS IV
MAT on Book Profit after IndAs - -
Corporate Taxation- Profit ICDS-III
1.99 2.65
and IV
Final Tax Liability 1.99 2.65
Profit After Tax 5.92 7.89
- -

Opening FA - 130.07
Additional FA 287.09 223.99
Notional Notional Realisation FA 157.02 104.68
Income Income
Schedule Schedule Closing FA 130.07 266.61

Notional Income/ Interest Income - 17.24

13.25% Effective Rate of return (130.07) (119.31)
31/Mar/26 31/Mar/27 31/Mar/28 31/Mar/29 31/Mar/30 31/Mar/31 31/Mar/32 31/Mar/33
53.81 54.82 53.99 53.04 52.02 50.91 49.78 40.57

35.34 37.90 36.06 34.14 32.15 30.07 27.92 25.69

0.56 1.39 1.89 2.34 2.75 3.12 3.51 2.29

17.91 15.52 16.03 16.56 17.13 17.72 18.35 12.59

4.91 - - - - - - -
12.48 15.07 15.57 16.08 16.63 17.20 17.82 12.22
0.52 0.45 0.47 0.48 0.50 0.52 0.53 0.37
16.92 16.70 15.83 14.67 13.38 12.07 10.68 9.15
19.49 23.05 22.60 22.30 22.01 21.64 21.28 19.20
- - - - - - - -
4.91 5.80 5.69 5.61 5.54 5.45 5.36 4.83
4.91 5.80 5.69 5.61 5.54 5.45 5.36 4.83
14.59 17.25 16.91 16.68 16.47 16.19 15.92 14.36
- - - 0.60 5.22 5.31 5.42 5.55

266.61 285.98 272.10 257.60 242.53 226.87 210.63 193.82

17.91 15.52 16.03 16.56 17.13 17.72 18.35 12.59
33.88 67.31 66.60 65.77 64.94 64.02 63.09 62.04
285.98 272.10 257.60 242.53 226.87 210.63 193.82 170.06

35.34 37.90 36.06 34.14 32.15 30.07 27.92 25.69

15.97 51.79 50.57 49.21 47.81 46.30 44.73 49.45
31/Mar/34 31/Mar/35 31/Mar/36 31/Mar/37 31/Mar/38 31/Mar/39 31/Mar/40 31/Mar/41
45.80 40.55 38.83 36.95 34.87 32.56 18.95 21.37

22.54 20.38 17.59 14.66 11.58 8.38 5.16 0.45

1.16 1.75 2.38 2.99 3.52 3.91 2.04 -

22.10 18.43 18.85 19.30 19.77 20.27 11.75 20.92

- - - - - - - -
21.46 17.89 18.30 18.74 19.20 19.68 11.41 20.31
0.64 0.54 0.55 0.56 0.58 0.59 0.34 0.61
7.64 6.11 4.53 2.84 1.27 0.20 - -
16.70 16.56 15.99 15.37 14.40 12.69 7.54 1.06
- - - - - - - -
4.20 4.17 4.02 3.87 3.63 3.19 1.90 0.27
4.20 4.17 4.02 3.87 3.63 3.19 1.90 0.27
12.50 12.39 11.97 11.50 10.78 9.50 5.64 0.79
5.81 5.92 7.21 4.77 5.98 6.19 6.39 6.48

170.06 153.74 132.75 110.63 87.39 63.22 38.91 3.38

22.10 18.43 18.85 19.30 19.77 20.27 11.75 20.92
60.96 59.79 58.57 57.19 55.53 52.97 52.43 24.75
153.74 132.75 110.63 87.39 63.22 38.91 3.38 (0.00)

22.54 20.38 17.59 14.66 11.58 8.38 5.16 0.45

38.86 41.37 39.72 37.89 35.75 32.70 40.69 3.82
 31/Mar/42 31/Mar/43 31/Mar/44 31/Mar/45
(0.00) (0.00) (0.00) (0.00)

- 0.00 - 0.00 - 0.00 - 0.00

- - - -

- - - -

- - - -
- - - -
- - - -
- - - -
(0.00) (0.00) (0.00) (0.00)
- - - -
- - - -
- - - -
(0.00) (0.00) (0.00) (0.00)
6.24 7.79 - -

(0.00) (0.00) (0.00) (0.00)

- - - -
- - - -
(0.00) (0.00) (0.00) (0.00)

(0.00) (0.00) (0.00) (0.00)

- - - -