M/S REGAL RESORT

ARA,BHOJPUR ,BIHAR

SUMMARY OF PROJECT COST

(As per Annexture)

BUILDING 24,543,000
MACHINERY & EQUIPMENTS 2,500,000
ELECTRICAL INSTALLATIONS 8,400,000
OFFICE EQUIPMENTS -

35,443,000
-
Total 35,443,000

MACHINERY & EQUIPMENTS

Nos.
1 Generator (Kirloskar) 2 set 12.50 lac each 2,500,000

Sub Total 2,500,000

Total 2,500,000
INSTALLATION
Nos.
1 Lift 2,000,000
2 Ward Robe 2,400,000
3 Gate 1,500,000
4 Misc. 2,500,000
Total 8,400,000

FIXED CAPITAL COST 35,443,000

35,443,000

WORKING CAPITAL COST -

35,443,000

MEANS OF FINANCE

BANK LOAN
TERM LOAN FINANCE 25,000,000
WORKING CAPITAL FINANCE - 25,000,000

PROMOTER'S CONTRIBUTION 10,443,000

35,443,000

Note: Promoter's contribution works out to be 30 % of Total Project cost.

M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR

DETAILS OF DEPRECIATION ON FIXED ASSETS

Items of Fixed Assets Amount (Rs.)

BUILDING 24,543,000
MACHINERY & EQUIPMENTS 2,500,000
ELECTRICAL INSTALLATIONS 8,400,000
OFFICE EQUIPMENTS -

Cost of acquisition during the year 35,443,000

Depreciation @ 15 % p.a. on an average 5,316,450

W.D.V. as at the end of 1st year 30,126,550

Depreciation @ 15 % p.a. on an average 4,518,983

W.D.V. as at the end of 2nd year 25,607,568

Depreciation @ 15 % p.a. on an average 3,841,135

W.D.V. as at the end of 3rd year 21,766,432

Depreciation @ 15 % p.a. on an average 3,264,965

W.D.V. as at the end of 4th year 18,501,468

Depreciation @ 15 % p.a. on an average 2,775,220

W.D.V. as at the end of 5th year 15,726,247

Depreciation @ 15 % p.a. on an average 2,358,937

W.D.V. as at the end of 6th year 13,367,310

Depreciation @ 15 % p.a. on an average 2,005,097

W.D.V. as at the end of 7th year 11,362,214

Depreciation @ 15 % p.a. on an average 1,704,332

W.D.V. as at the end of 8th year 9,657,882

Depreciation @ 15 % p.a. on an average 1,448,682

W.D.V. as at the end of 9th year 8,209,199

Depreciation @ 15 % p.a. on an average 1,231,380

W.D.V. as at the end of 10th year 6,977,820

 M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR

PROJECTED PROFITABILITY STATEMENT

YEARS YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7
CAPACITY UTILIZATION 40% 45% 46% 47% 48% 49% 50%

INCOME

1 Gross Receipts 19,300,000 20,265,000 20,400,000 20,600,000 20,900,000 21,000,000 21,300,000

(40 rooms @ rs 2500 x 150 days)
(3 C.H @ rs 9600 x 150 days)
TOTAL (A) 19,300,000 20,265,000 20,400,000 20,600,000 20,900,000 21,000,000 21,300,000

EXPENDITURE

1 Purchases 10,142,550 10,896,168 11,641,741 12,480,482 13,313,409 14,141,398 14,865,187

2 Salary 150,000 160,000 175,000 185,000 195,000 205,000 215,000
3 Repair and Maintenance 60,000 75,000 90,000 105,000 120,000 135,000 150,000
4 Electricity 25,000 30,000 35,000 40,000 45,000 50,000 55,000
5 Interest on Term Loan 3,004,808 2,684,295 2,363,782 2,043,269 1,722,756 1,402,244 1,081,731
6 Interest on CC Loan - - - - - - -
7 Misc Expenses 30,000 35,000 40,000 45,000 50,000 55,000 60,000
8 Security 25,000 30,000 35,000 40,000 45,000 50,000 55,000
9 Depreciation 5,316,450 4,518,983 3,841,135 3,264,965 2,775,220 2,358,937 2,005,097

TOTAL (B) 18,753,808 18,429,445 18,221,658 18,203,716 18,266,386 18,397,579 18,487,014

NET CREDIT [A-B] 546,192 1,835,555 2,178,342 2,396,284 2,633,614 2,602,421 2,812,986
Opening stock - - - - - - -
Closing stock - - - - - - -
Stock adjustment - - - - - - -
Profit before Taxation 546,192 1,835,555 2,178,342 2,396,284 2,633,614 2,602,421 2,812,986
Provision for Taxation 163,858 550,666 653,503 718,885 790,084 780,726 843,896
Profit after Taxation 382,335 1,284,888 1,524,839 1,677,399 1,843,530 1,821,695 1,969,090
Bal carried over to Balance Sheet 382,335 1,667,223 3,192,062 4,869,461 6,712,991 8,534,686 10,503,776
/S REGAL RESORT
ARA,BHOJPUR ,BIHAR

D PROFITABILITY STATEMENT

YR 8 YR 9 YR 10
52% 55% 58%

21,400,000 21,500,000 21,550,000

21,400,000 21,500,000 21,550,000

15,452,850 15,978,500 16,405,850

219,800 222,800 235,500
165,000 170,000 185,500
65,000 75,000 85,000
761,218 440,705 120,192
- - -
65,000 68,500 75,500
60,000 72,000 84,000
1,704,332 1,448,682 1,231,380

18,493,200 18,476,187 18,422,922

2,906,800 3,023,813 3,127,078

- - -
- - -
- - -
2,906,800 3,023,813 3,127,078
872,040 907,144 938,123
2,034,760 2,116,669 2,188,954
12,538,536 14,655,205 16,844,159
 M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR

PROJECTED CASH FLOW STATEMENT

YEARS YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7

SOURCES

PBIT 3,551,000 4,519,850 4,542,124 4,439,553 4,356,371 4,004,665 3,894,716

Depreciation 5,316,450 4,518,983 3,841,135 3,264,965 2,775,220 2,358,937 2,005,097
Promoters Contribution 10,441,000 - - - - - -
Increase in Term Loan 23,076,923 (2,564,103) (2,564,103) (2,564,103) (2,564,103) (2,564,103) (2,564,103)
Increase in Cash Credit - - - - - - -
Decrease in Current Assets (125,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000)
Decrease in Advance & Deposits (50,000) (25,000) (10,000) (10,000) (10,000) (15,000) (10,000)
Provisions 163,858 550,666 653,503 718,885 790,084 780,726 843,896

TOTAL [A] 42,374,231 6,990,396 6,452,659 5,839,301 5,337,573 4,555,226 4,159,606

APPLICATION
Increase in Fixed Assets 35,443,000 - - - - - -
Interest on Bank Loan 3,004,808 2,684,295 2,363,782 2,043,269 1,722,756 1,402,244 1,081,731
Income Tax 163,858 714,524 1,204,169 1,372,388 1,508,970 1,570,811 1,624,622
Dividend - - - - - - -

TOTAL [B] 38,611,665 3,398,819 3,567,951 3,415,657 3,231,726 2,973,054 2,706,353

Opening Cash Balance - 3,762,565 7,354,142 10,238,850 12,662,494 14,768,341 16,350,512
Net Surplus / Deficit [A-B] 3,762,565 3,591,577 2,884,708 2,423,644 2,105,847 1,582,172 1,453,253
Closing Cash Balance 3,762,565 7,354,142 10,238,850 12,662,494 14,768,341 16,350,512 17,803,766
M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR

TED CASH FLOW STATEMENT

YR 8 YR 9 YR 10

3,668,018 3,464,518 3,247,270

1,704,332 1,448,682 1,231,380
- - -
(2,564,103) (2,564,103) (2,564,103)
- - -
(10,000) (10,000) (10,000)
(15,000) (10,000) (15,000)
872,040 907,144 938,123

3,655,287 3,236,241 2,827,671

- - -
761,218 440,705 120,192
1,715,936 1,779,184 1,845,267
- - -

2,477,154 2,219,889 1,965,459

17,803,766 18,981,899 19,998,252
1,178,134 1,016,352 862,211
18,981,899 19,998,252 20,860,463
 M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR

YEARS YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7

LIABILITIES

Capital 6,820,000 6,820,000 6,820,000 6,820,000 6,820,000 6,820,000 6,820,000

Reseve & Surplus 382,335 1,667,223 3,192,062 4,869,461 6,712,991 8,534,686 10,503,776
Term Loan 23,076,923 20,512,821 17,948,718 15,384,615 12,820,513 10,256,410 7,692,308
Cash Credit - - - - - - -
Tax Provision 163,858 550,666 653,503 718,885 790,084 780,726 843,896

TOTAL 30,443,115 29,550,710 28,614,283 27,792,961 27,143,588 26,391,823 25,859,979

ASSETS

Net Fixed Assets (W.D.V.) 30,126,550 25,607,568 21,766,432 18,501,468 15,726,247 13,367,310 11,362,214
Advance & Deposits 50,000 75,000 85,000 95,000 105,000 120,000 130,000
Net Current Assets (Debt &Others) 125,000 135,000 145,000 155,000 165,000 175,000 185,000
Cash & Bank Bal. 141,565 3,733,142 6,617,850 9,041,494 11,147,341 12,729,512 14,182,766

TOTAL 30,443,115 29,550,710 28,614,283 27,792,961 27,143,588 26,391,823 25,859,979

M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR

YR 8 YR 9 YR 10

6,820,000 6,820,000 6,820,000

12,538,536 14,655,205 16,844,159
5,128,205 2,564,103 -
- - -
872,040 907,144 938,123

25,358,781 24,946,451 24,602,282

9,657,882 8,209,199 6,977,820

145,000 155,000 170,000
195,000 205,000 215,000
15,360,899 16,377,252 17,239,463

25,358,781 24,946,451 24,602,282

 M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR

CALCULATION OF INTEREST ON TERM LOAN ON QUARTERLY BASIS

Consolidated Payout half yearly

QTR OPENING PAYMENT CLOSING INTEREST OPENING PAYMENT CLOSING INTEREST TOTAL TOTAL TOTAL

BALANCE QUARTERLY BALANCE QUARTERLY BALANCE QUARTERLY BALANCE QUARTERLY INTEREST PRINCIPAL REPAYMENT

1 25,000,000 - 25,000,000 781,250 25,000,000 641,026 24,358,974 761,218 1,542,468 641,026 2,183,494
2 24,358,974 641,026 23,717,949 741,186 23,717,949 641,026 23,076,923 721,154 1,462,340 1,282,051 2,744,391
3 23,076,923 641,026 22,435,897 701,122 22,435,897 641,026 21,794,872 681,090 1,382,212 1,282,051 2,664,263
4 21,794,872 641,026 21,153,846 661,058 21,153,846 641,026 20,512,821 641,026 1,302,083 1,282,051 2,584,135
5 20,512,821 641,026 19,871,795 620,994 19,871,795 641,026 19,230,769 600,962 1,221,955 1,282,051 2,504,006
6 19,230,769 641,026 18,589,744 580,929 18,589,744 641,026 17,948,718 560,897 1,141,827 1,282,051 2,423,878
7 17,948,718 641,026 17,307,692 540,865 17,307,692 641,026 16,666,667 520,833 1,061,699 1,282,051 2,343,750
8 16,666,667 641,026 16,025,641 500,801 16,025,641 641,026 15,384,615 480,769 981,571 1,282,051 2,263,622
9 15,384,615 641,026 14,743,590 460,737 14,743,590 641,026 14,102,564 440,705 901,442 1,282,051 2,183,494
10 14,102,564 641,026 13,461,538 420,673 13,461,538 641,026 12,820,513 400,641 821,314 1,282,051 2,103,365
11 12,820,513 641,026 12,179,487 380,609 12,179,487 641,026 11,538,462 360,577 741,186 1,282,051 2,023,237
12 11,538,462 641,026 10,897,436 340,545 10,897,436 641,026 10,256,410 320,513 661,058 1,282,051 1,943,109
13 10,256,410 641,026 9,615,385 300,481 9,615,385 641,026 8,974,359 280,449 580,929 1,282,051 1,862,981
14 8,974,359 641,026 8,333,333 260,417 8,333,333 641,026 7,692,308 240,385 500,801 1,282,051 1,782,853
15 7,692,308 641,026 7,051,282 220,353 7,051,282 641,026 6,410,256 200,321 420,673 1,282,051 1,702,724
16 6,410,256 641,026 5,769,231 180,288 5,769,231 641,026 5,128,205 160,256 340,545 1,282,051 1,622,596
17 5,128,205 641,026 4,487,179 140,224 4,487,179 641,026 3,846,154 120,192 260,417 1,282,051 1,542,468
18 3,846,154 641,026 3,205,128 100,160 3,205,128 641,026 2,564,103 80,128 180,288 1,282,051 1,462,340
19 2,564,103 641,026 1,923,077 60,096 1,923,077 641,026 1,282,051 40,064 100,160 1,282,051 1,382,212
20 1,282,051 641,026 641,026 20,032 641,026 641,026 0 0 20,032 1,282,051 1,302,083

TOTAL 12,179,487 8,012,821 12,820,513 7,612,179 15,625,000 25,000,000 40,625,000

YEAR YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10

TERM LOAN INTEREST 3,004,808 2,684,295 2,363,782 2,043,269 1,722,756 1,402,244 1,081,731 761,218 440,705 120,192
TERM LOAN PRINCIPAL REPAYMENT 1,923,077 2,564,103 2,564,103 2,564,103 2,564,103 2,564,103 2,564,103 2,564,103 2,564,103 2,564,103

TOTAL REPAYMENT (INTT+INSTALMENT) 4,927,885 5,248,397 4,927,885 4,607,372 4,286,859 3,966,346 3,645,833 3,325,321 3,004,808 2,684,295

Note: 1 Repayment term has been considered to be in 39 equal quarterly instalments.

2 Term Loan Interest has been considered @ 12.50 % p.a.
 M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR

CALCULATION OF SOME IMPORTANT RATIOS

PARTICULARS YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9

NET PROFIT (PAT) 382,335 1,284,888 1,524,839 1,677,399 1,843,530 1,821,695 1,969,090 2,034,760 2,116,669
INTEREST ON TERM LOAN 3,004,808 2,684,295 2,363,782 2,043,269 1,722,756 1,402,244 1,081,731 761,218 440,705
INTEREST ON CASH CREDIT - - - - - - - - -
PROVISION OF TAXATION 163,858 550,666 653,503 718,885 790,084 780,726 843,896 872,040 907,144

TOTAL (X) (PBIT) 3,551,000 4,519,850 4,542,124 4,439,553 4,356,371 4,004,665 3,894,716 3,668,018 3,464,518

INTREST ON TERM LOAN 3,004,808 2,684,295 2,363,782 2,043,269 1,722,756 1,402,244 1,081,731 761,218 440,705
INTREST ON CASH CREDIT - - - - - - - - -

TOTAL (Y) 3,004,808 2,684,295 2,363,782 2,043,269 1,722,756 1,402,244 1,081,731 761,218 440,705

INTREST SERIVCE COVERAGE 1.18 1.68 1.92 2.17 2.53 2.86 3.60 4.82 7.86
RATIO ( X/Y)

NET PROFIT 382,335 1,284,888 1,524,839 1,677,399 1,843,530 1,821,695 1,969,090 2,034,760 2,116,669

SALES 19,300,000 20,265,000 20,400,000 20,600,000 20,900,000 21,000,000 21,300,000 21,400,000 21,500,000

NET PROFIT/ SALES 0.02 0.06 0.07 0.08 0.09 0.09 0.09 0.10 0.10

PBIT 3,551,000 4,519,850 4,542,124 4,439,553 4,356,371 4,004,665 3,894,716 3,668,018 3,464,518
DEPRECIATION 5,316,450 4,518,983 3,841,135 3,264,965 2,775,220 2,358,937 2,005,097 1,704,332 1,448,682
PBDIT 8,867,450 9,038,832 8,383,259 7,704,518 7,131,591 6,363,602 5,899,813 5,372,350 4,913,200

TOTAL ASSETS 30,443,115 29,550,710 28,614,283 27,792,961 27,143,588 26,391,823 25,859,979 25,358,781 24,946,451
I.S.C.R. 0.29 0.31 0.29 0.28 0.26 0.24 0.23 0.21 0.20

NET SALES (O) 19,300,000 20,265,000 20,400,000 20,600,000 20,900,000 21,000,000 21,300,000 21,400,000 21,500,000

TERM LOAN 25,000,000 24,358,974 23,076,923 21,794,872 20,512,821 19,230,769 17,948,718 641,026 17,307,692
CASH CREDIT - - - - - - - - -

TOTAL BANK BORROWING ( P) 25,000,000 24,358,974 23,076,923 21,794,872 20,512,821 19,230,769 17,948,718 641,026 17,307,692
NET SALES/ BANK BORROWING 0.77 0.83 0.88 0.95 1.02 1.09 1.19 33.38 1.24
BRAKE EVEN POINT 23.08 22.77 23.98 23.65 26.28 26.68 22.27 22.27 22.27
YR 10

2,188,954
120,192
-
938,123

3,247,270

120,192
-

120,192

27.02

2,188,954

21,550,000

0.10

3,247,270
1,231,380
4,478,650

24,602,282
0.18

21,550,000

540,865
-

540,865
39.84
22.27
 M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR
CALCULATION OF DSCR

YEARS YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7

A. Net Profit after Tax 382,335 1,284,888 1,524,839 1,677,399 1,843,530 1,821,695 1,969,090
B. Depreciation 5,316,450 4,518,983 3,841,135 3,264,965 2,775,220 2,358,937 2,005,097
C. Interest on Term Loan 3,004,808 2,684,295 2,363,782 2,043,269 1,722,756 1,402,244 1,081,731
D. Interest on Cash Credit - - - - - - -

TOTAL [X] 8,703,592 8,488,166 7,729,756 6,985,633 6,341,507 5,582,876 5,055,917

E. Instalment of Term Loan 1,923,077 2,564,103 2,564,103 2,564,103 2,564,103 2,564,103 2,564,103
F. Interest on Term Loan 3,004,808 2,684,295 2,363,782 2,043,269 1,722,756 1,402,244 1,081,731
G. Interest on Cash Credit - - - - - - -

TOTAL [Y] 4,927,885 5,248,397 4,927,885 4,607,372 4,286,859 3,966,346 3,645,833

DSCR = [X] / [Y] 1.77 1.62 1.57 1.52 1.48 1.41 1.39
M/S REGAL RESORT
ARA,BHOJPUR ,BIHAR
CALCULATION OF DSCR

YR 8 YR 9 YR 10

2,034,760 2,116,669 2,188,954

1,704,332 1,448,682 1,231,380
761,218 440,705 120,192
- - -

4,500,310 4,006,056 3,540,527

2,564,103 2,564,103 2,564,103

761,218 440,705 120,192
- - -

3,325,321 3,004,808 2,684,295

1.35 1.33 1.32