Passenger Forecast (in Millions) 2007 2008 2009 2010 2011 2012 2013

Low 13 14 14 15 16 17 18
Base 14 15 16 17 18 19 20
High 15 16 17 18 19 21 23
Cargo Rev Forecast (in Thousand
Tonnes) 2007 2008 2009 2010 2011 2012 2013
Low 363 386 411 438 467 497 530
Base 376 405 437 471 509 549 592
High 389 425 464 506 554 606 663
Income (in ₹ Million)
Aeronautical Revenue per
Passenger 36.35 36.38 42.20 47.60 52.21 55.66 62.36

Total Aero Revenue (in ₹ Million) 508.913 545.6522 675.2464 809.1168 939.821 1057.609 1247.174
Cargo Rev per 1000 MT (in ₹
Million) 3.68 3.74 3.66 3.65 3.71 3.87 4.03

Cargo Revenues (in ₹ Million) 692.00 757.37 799.00 858.68 944.00 1062.50 1194.00
Non-aeronautical Revenue per
Passenger 24.22 27.03 30.55 37.83 50.27 56.64 67.65
Non-aeronautical Revenue (in ₹
Million) 339.1304 405.4348 488.8116 643.0435 904.8338 1076.087 1353.043
Total Income (in ₹ Million) 1540.04 1708.46 1963.06 2310.84 2788.65 3196.20 3794.22
Expenses (in ₹ Million)
Total Variable Cost per
Passenger 45.1087 47.55072 53.17391 54.4837 61.01023 58.19222 60.70652

Total Variable Cost (in ₹ Million) 631.5217 713.2609 850.7826 926.2228 1098.184 1105.652 1214.13

Total Fixed Cost per Passenger 2.8 2.8 3.1 4.1 4.3 5.7 6.2

Total Fixed Cost (in ₹ Million) 39.3 42.6 50.1 69.8 78.3 108.3 123.0
Total Expenses (in ₹ Million) 670.9 755.9 900.9 996.0 1,176.4 1,213.9 1,337.2
Depreciation (in ₹ Million) 62.2 300.2 421.6 540.6 486.5 462.6 416.3
Net Income (in ₹ Million) 540.7 437.1 429.2 518.8 754.2 1,018.2 1,367.3
Operating Cash Flows (in ₹ Million 602.9 737.3 850.8 1,059.3 1,240.7 1,480.8 1,783.6
Capital Expenditure (in ₹ Million) 622.0 2,442.6 1,513.5 1,611.7 0.0 247.4 0.0
 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
19 20 21 23 24 25 27 28 29 31
22 24 25 27 29 31 33 35 37 39
25 27 29 32 35 37 40 43 46 49

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
564 601 640 680 722 765 810 855 903 954
639 690 745 803 864 929 996 1066 1140 1220
725 794 869 950 1037 1130 1229 1332 1445 1566

70.35 62.32 55.41 49.27 43.85 40.70 43.62 46.85 50.60 53.27

1547.743 1495.577 1385.217 1330.217 1271.522 1261.79 1439.49 1639.898 1872.12 2077.609

4.21 4.38 4.57 4.76 4.96 5.16 5.37 5.58 5.81 6.04

1343.50 1512.00 1701.50 1910.62 2141.00 2396.50 2673.00 2975.50 3310.00 3683.52

78.32 78.06 82.18 87.27 87.39 93.66 93.72 94.60 106.59 105.09

1723.106 1873.497 2054.565 2356.304 2534.348 2903.442 3092.853 3311.125 3943.986 4098.696
4614.35 4881.07 5141.28 5597.14 5946.87 6561.73 7205.34 7926.52 9126.11 9859.82

63.25052 61.15312 60.06957 62.15781 61.28186 64.44203 67.68342 69.55243 72.88043 78.09365

1391.511 1467.675 1501.739 1678.261 1777.174 1997.703 2233.553 2434.335 2696.576 3045.652

6.4 6.0 6.1 5.9 6.1 6.1 6.0 6.5 6.6 6.5

141.2 144.3 151.3 158.3 176.7 189.6 199.3 225.8 245.8 252.8
1,532.7 1,611.9 1,653.0 1,836.5 1,953.9 2,187.3 2,432.9 2,660.1 2,942.3 3,298.5
457.1 436.7 543.9 506.9 473.6 444.2 417.2 575.1 551.9 554.4
1,758.5 1,897.7 1,972.7 2,180.0 2,358.0 2,633.2 2,918.0 3,143.1 3,773.3 4,024.7
2,215.5 2,334.4 2,516.6 2,686.9 2,831.6 3,077.5 3,335.2 3,718.3 4,325.3 4,579.1
823.7 253.7 1,508.5 173.9 173.9 179.8 173.9 1,996.5 343.3 576.5
 2024 2025 2026
32 34 35
42 44 46
52 56 59

2024 2025 2026

1007 1062 1119
1304 1393 1486
1696 1835 1983

57.46 57.74 58.03

2413.33 2540.344 2669.333

6.28 6.53 6.79

4093.64 4547.00 5043.00

107.08 113.53 116.00

4497.519 4995.268 5335.778

11004.49 12082.61 13048.11

80.69459 83.71587 88.75845

3389.173 3683.498 4082.889

7.2 7.2 7.2

301.3 317.7 331.8

3,690.5 4,001.2 4,414.7
507.2 461.8 415.7
4,560.5 5,105.1 5,505.9
5,067.8 5,567.0 5,921.6
82.8 53.3 0.0
Passenger Forecast (in Millions) 2007 2008 2009 2010 2011 2012
Low 17 17 18 19 20 21
Base 18 18 19 20 22 23
High 18 19 20 22 23 25
Cargo Rev Forecast (in Thousand
Tonnes) 2007 2008 2009 2010 2011 2012
Low 376 394 414 436 461 488
Base 386 408 433 461 492 527
High 395 422 452 486 525 569
Income (in ₹ Million)

Aeronautical Revenue per passenger 35.42 35.19 38.24 44.68 49.73 55.83
Total Aero Revenue (in ₹ Million) 637.5959 633.4783 726.5217 893.6957 1094.079 1284.091

Cargo Rev per 1000 MT (in ₹ Million) 2.21 2.24 2.09 2.00 1.96 2.04
Cargo Revenues (in ₹ Million) 427.11 456.50 452.00 460.00 481.50 537.52
Non-aeronautical Revenue per
passenger 23.18 26.35 29.37 33.68 41.70 46.65
Non-aeronautical Revenue (in ₹
Million) 417.3146 474.3478 558.0435 673.6957 917.3499 1072.955
Total Income (Rs. In Million) 1482.02 1564.33 1736.57 2027.39 2492.93 2894.57
Expenses (in ₹ Million)

Total Variable Cost per Passenger 41.11253 44.13043 47.3913 52.5 54.18219 53.85375
Total Variable Cost (in ₹ Million) 740.0256 794.3478 900.4348 1050 1192.008 1238.636
Total Fixed Cost per Passenger 2.9 3.0 3.1 3.3 4.5 4.5
Total Fixed Cost (in ₹ Million) 52.9 53.3 59.8 65.7 98.8 102.7
Total Expenses (in ₹ Million) 793.0 847.6 960.2 1,115.7 1,290.8 1,341.4
Depreciation (in ₹ Million) 109.6 256.1 377.4 451.0 454.0 486.3
Net Income (in ₹ Million) 388.2 308.6 267.3 308.7 501.2 714.8
Operating Cash Flows (in ₹ Million) 497.8 564.7 644.7 759.7 955.2 1,201.1
Capital Expenditure (in ₹ Million) 1,096.3 1,574.3 1,469.3 1,113.5 480.4 777.2
 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
23 24 26 27 29 31 32 33 35 36
25 27 28 30 32 34 36 38 40 42
27 29 31 34 37 39 42 45 46 47

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
518 550 585 622 661 701 743 785 828 874
566 609 656 707 761 818 878 940 1004 1073
618 673 735 803 877 954 1038 1126 1219 1319

60.51 66.07 61.10 56.73 52.84 49.03 44.52 46.15 48.07 48.76
1512.681 1783.896 1710.87 1701.957 1690.87 1666.957 1602.656 1753.846 1922.8 2048.123

2.13 2.22 2.32 2.42 2.53 2.63 2.75 2.86 2.98 3.10
602.50 676.00 760.00 855.71 961.76 1077.50 1205.87 1345.43 1495.51 1663.00

49.61 53.55 59.73 64.10 65.75 67.41 68.68 71.41 72.12 74.58

1240.263 1445.945 1672.391 1923.043 2103.913 2291.957 2472.409 2713.59 2884.624 3132.569
3355.44 3905.84 4143.26 4480.71 4756.55 5036.41 5280.94 5812.87 6302.93 6843.69

53.53261 53.60368 54.40994 55.33333 55.86957 58.30563 58.11986 60.13378 63.20255 64.1996
1338.315 1447.299 1523.478 1660 1787.826 1982.391 2092.315 2285.084 2528.102 2696.383
4.5 4.8 4.8 4.7 4.8 4.6 4.4 4.4 4.4 4.4
112.5 129.1 135.4 141.1 152.8 157.2 158.4 168.0 176.2 183.2
1,450.9 1,576.4 1,658.9 1,801.1 1,940.7 2,139.6 2,250.7 2,453.1 2,704.3 2,879.6
471.4 504.5 534.2 498.1 465.7 436.5 410.3 382.3 412.0 451.9
960.3 1,222.7 1,306.6 1,461.6 1,574.6 1,648.4 1,755.3 1,994.9 2,135.0 2,353.2
1,431.6 1,727.2 1,840.8 1,959.7 2,040.3 2,084.9 2,165.6 2,377.2 2,547.0 2,805.1
337.0 802.4 801.5 173.9 173.9 173.9 173.9 130.9 678.9 810.9
 2023 2024 2025 2026
38 39 40 42
44 46 48 50
48 49 50 50

2023 2024 2025 2026

923 973 1026 1081
1147 1224 1306 1392
1427 1542 1666 1797

50.87 51.98 53.48 55.01

2238.261 2391.224 2566.957 2750.665

3.23 3.36 3.45 3.55

1850.61 2053.50 2254.56 2472.96

77.33 78.66 83.69 87.00

3402.722 3618.571 4016.965 4349.823

7491.60 8063.30 8838.48 9573.45

67.12193 70.96273 74.50311 78.18101

2953.365 3264.286 3576.149 3909.051
4.4 4.4 4.8 4.9
194.2 201.8 230.0 245.1
3,147.6 3,466.1 3,806.1 4,154.2
473.3 429.3 386.3 369.5
2,593.4 2,792.5 3,112.8 3,383.4
3,066.7 3,221.8 3,499.2 3,752.8
666.3 32.8 0.0 217.4