Start of Construction 1-Oct-17

No. of Months of Construction 42

End of Construction 31-Mar-21

Implementation Schedule Start Date

Slab No. of Months 16 31-Oct-17
Plumbing After Slab work (months) 6 28-Feb-19
Electricals With Plumbing (months) 6 28-Feb-19
Elevators With Plumbing (months) 8 28-Feb-19
Interiors After Electricals (months) 12 30-Sep-19
Landscaping After Interiors (months) 6 30-Sep-20
Contingencies During the last (months) 6 31-Oct-20
Administrative & Marketing Expenses Throughout the constr 42 31-Oct-17
Pre-operative Expenses During the last (months) 6 31-Oct-20

Sales & Cost Assumptions

Total area for constructing the tower(sq mt) 50,000
Conversion Factor 10.764
Total Construction Area (in sq ft) 538,200
Construction Cost Per sq ft. (in Rs) 3500
Sale price per sq ft. 9000
Sales Proceeds from Project 484.38

Project Cost
Land & Land Development 130.00
Construction Cost 188.37
Civil % of Construction Cost 48% 90.42
Plumbing % of Construction Cost 5% 9.42
Electrical % of Construction Cost 10% 18.84
Interiors % of Construction Cost 25% 47.09
Elevators % of Construction Cost 10% 18.84
Landscaping % of Construction Cost 2% 3.77
Administrative & Marketing Expenses % of Total Sales 2.50% 12.11
Pre-operative Expenses % of Construction Cost 10% 18.84
IDC 27.08
Contingencies % of Construction Cost 2.50% 4.71
Total 381.10

Funding
Equity 50.00
Funding from Sale Proceeeds 252.87
Debt 78.23
Total 381.10
Interest Rate on Debt 14%
End Date
31-Jan-19
31-Jul-19
31-Jul-19
30-Sep-19
31-Aug-20
28-Feb-21
31-Mar-21
31-Mar-21
31-Mar-21
Construction Activity Months Start Date
Slab No. months 16 31-Oct-17
Plumbing After Slab work (months) 6 28-Feb-19
Electicals With Plumbing (months) 6 28-Feb-19
Elevators With Plumbing (months) 8 28-Feb-19
Interiors After Electricals (months) 12 30-Sep-19
Landscaping After Interiors (months) 6 30-Sep-20
Contingencies During the last (months) 6 31-Oct-20
Admin & Mkt Throughout the constr 42 31-Oct-17
Pre-operative During the last (months) 6 31-Oct-20

Amount\Month Ending 31-Oct-17 30-Nov-17

QE 31-Dec-17 31-Dec-17
FYE 31-Mar-18 31-Mar-18
Land 130.00 100%
Civil 90.42 6% 6%
Plumbing 9.42 0% 0%
Electrical 18.84 0% 0%
Elevators 18.84 0% 0%
Interiors 47.09 0% 0%
Landscaping 3.77 0% 0%
Contingencies 4.71 0% 0%
Admin & Mkt 12.11 2% 2%
Pre-operative 18.84 0% 0%

Cost
Land 130.00 130.00 -
Civil 90.42 5.65 5.65
Plumbing 9.42 - -
Electrical 18.84 - -
Elevators 18.84 - -
Interiors 47.09 - -
Landscaping 3.77 - -
Contingencies 4.71 - -
Admin & Mkt 12.11 0.29 0.29
Pre-operative 18.84 - -
IDC 27.08 0.81 0.84
Total 381.10 136.75 6.78

Funding
Equity 50.00 50.00 -
Funding Req after equity 86.75 6.78
CashFlow from Sales 17.38 4.51
Funding from Receiveables 17.38 4.51
Funding Req after Rec 69.37 2.27
Debt 78.23 69.37 2.27

Project Progress(% of cost) 36% 38%

Sales
Sale Progress 100% 10.00% 2.00%
Cumm Sales Realization 3.6% 4.5%
Incre Sales Realization 3.6% 0.9%
 Cash Flow from Sales 484.38 17.38 4.51

Debt
Cumulative Debt 69.37 71.63
14% Interest 0.81 0.84
Funds available after Project funding - -
Cumulative Available Funds - -
Repayments (%)
Repayment Amount 78.23 - -
Cum Funds available after Repayment - -
End Date
31-Jan-19
31-Jul-19
31-Jul-19
30-Sep-19
31-Aug-20
28-Feb-21
31-Mar-21
31-Mar-21
31-Mar-21

31-Dec-17 31-Jan-18 28-Feb-18 31-Mar-18 30-Apr-18 31-May-18 30-Jun-18 31-Jul-18 31-Aug-18

31-Dec-17 31-Mar-18 31-Mar-18 31-Mar-18 30-Jun-18 30-Jun-18 30-Jun-18 30-Sep-18 30-Sep-18
31-Mar-18 31-Mar-18 31-Mar-18 31-Mar-18 31-Mar-19 31-Mar-19 31-Mar-19 31-Mar-19 31-Mar-19

6% 6% 6% 6% 6% 6% 6% 6% 6%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
2% 2% 2% 2% 2% 2% 2% 2% 2%
0% 0% 0% 0% 0% 0% 0% 0% 0%

- - - - - - - - -
5.65 5.65 5.65 5.65 5.65 5.65 5.65 5.65 5.65
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29
- - - - - - - - -
0.86 0.88 0.89 0.90 0.91 0.91 0.91 0.91 0.91
6.80 6.82 6.83 6.84 6.85 6.85 6.85 6.85 6.85

- - - - - - - - -
6.80 6.82 6.83 6.84 6.85 6.85 6.85 6.85 6.85
4.86 5.21 5.56 5.91 6.26 6.61 6.95 7.30 7.65
4.86 5.21 5.56 5.91 6.26 6.61 6.85 6.85 6.85
1.94 1.61 1.27 0.93 0.59 0.25 - - -
1.94 1.61 1.27 0.93 0.59 0.25 - - -

39% 41% 43% 45% 47% 48% 50% 52% 54%

2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%

5.5% 6.6% 7.7% 9.0% 10.3% 11.6% 13.1% 14.6% 16.1%
1.0% 1.1% 1.1% 1.2% 1.3% 1.4% 1.4% 1.5% 1.6%
 4.86 5.21 5.56 5.91 6.26 6.61 6.95 7.30 7.65

73.57 75.18 76.46 77.39 77.98 78.23 78.23 78.23 78.23

0.86 0.88 0.89 0.90 0.91 0.91 0.91 0.91 0.91
- - - - - - 0.10 0.45 0.80
- - - - - - 0.10 0.55 1.35

- - - - - - - - -
- - - - - - 0.10 0.55 1.35
30-Sep-18 31-Oct-18 30-Nov-18 31-Dec-18 31-Jan-19 28-Feb-19 31-Mar-19 30-Apr-19 31-May-19
30-Sep-18 31-Dec-18 31-Dec-18 31-Dec-18 31-Mar-19 31-Mar-19 31-Mar-19 30-Jun-19 30-Jun-19
31-Mar-19 31-Mar-19 31-Mar-19 31-Mar-19 31-Mar-19 31-Mar-19 31-Mar-19 31-Mar-20 31-Mar-20

6% 6% 6% 6% 6% 0% 0% 0% 0%
0% 0% 0% 0% 0% 17% 17% 17% 17%
0% 0% 0% 0% 0% 17% 17% 17% 17%
0% 0% 0% 0% 0% 13% 13% 13% 13%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
2% 2% 2% 2% 2% 2% 2% 2% 2%
0% 0% 0% 0% 0% 0% 0% 0% 0%

- - - - - - - - -
5.65 5.65 5.65 5.65 5.65 - - - -
- - - - - 1.57 1.57 1.57 1.57
- - - - - 3.14 3.14 3.14 3.14
- - - - - 2.35 2.35 2.35 2.35
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29
- - - - - - - - -
0.91 0.91 0.91 0.91 0.91 0.91 0.91 0.91 0.91
6.85 6.85 6.85 6.85 6.85 8.26 8.26 8.26 8.26

- - - - - - - - -
6.85 6.85 6.85 6.85 6.85 8.26 8.26 8.26 8.26
8.00 8.35 8.70 9.04 9.39 10.50 10.92 11.34 11.76
6.85 6.85 6.85 6.85 6.85 8.26 8.26 8.26 8.26
- - - - - - - - -
- - - - - - - - -

56% 57% 59% 61% 63% 65% 67% 69% 71%

2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%

17.8% 19.5% 21.3% 23.2% 25.1% 27.3% 29.5% 31.9% 34.3%
1.7% 1.7% 1.8% 1.9% 1.9% 2.2% 2.3% 2.3% 2.4%
 8.00 8.35 8.70 9.04 9.39 10.50 10.92 11.34 11.76

78.23 78.23 78.23 78.23 78.23 78.23 78.23 78.23 78.23

0.91 0.91 0.91 0.91 0.91 0.91 0.91 0.91 0.91
1.15 1.50 1.84 2.19 2.54 2.23 2.65 3.07 3.49
2.50 4.00 5.84 8.03 10.57 12.81 15.46 18.53 22.02

- - - - - - - - -
2.50 4.00 5.84 8.03 10.57 12.81 15.46 18.53 22.02
 30-Jun-19 31-Jul-19 31-Aug-19 30-Sep-19 31-Oct-19 30-Nov-19 31-Dec-19 31-Jan-20 29-Feb-20
30-Jun-19 30-Sep-19 30-Sep-19 30-Sep-19 31-Dec-19 31-Dec-19 31-Dec-19 31-Mar-20 31-Mar-20
31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20

0% 0% 0% 0% 0% 0% 0% 0% 0%
17% 17% 0% 0% 0% 0% 0% 0% 0%
17% 17% 0% 0% 0% 0% 0% 0% 0%
13% 13% 13% 13% 0% 0% 0% 0% 0%
0% 0% 0% 8% 8% 8% 8% 8% 8%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
2% 2% 2% 2% 2% 2% 2% 2% 2%
0% 0% 0% 0% 0% 0% 0% 0% 0%

- - - - - - - - -
- - - - - - - - -
1.57 1.57 - - - - - - -
3.14 3.14 - - - - - - -
2.35 2.35 2.35 2.35 - - - - -
- - - 3.92 3.92 3.92 3.92 3.92 3.92
- - - - - - - - -
- - - - - - - - -
0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29
- - - - - - - - -
0.91 0.91 0.91 0.91 0.91 0.91 0.91 0.91 0.91
8.26 8.26 3.56 7.48 5.13 5.13 5.13 5.13 5.13

- - - - - - - - -
8.26 8.26 3.56 7.48 5.13 5.13 5.13 5.13 5.13
12.18 12.60 9.78 12.76 11.40 11.66 11.92 12.18 12.45
8.26 8.26 3.56 7.48 5.13 5.13 5.13 5.13 5.13
- - - - - - - - -
- - - - - - - - -

74% 76% 77% 79% 80% 81% 83% 84% 85%

2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%

36.8% 39.4% 41.4% 44.1% 46.4% 48.8% 51.3% 53.8% 56.4%
2.5% 2.6% 2.0% 2.6% 2.4% 2.4% 2.5% 2.5% 2.6%
12.18 12.60 9.78 12.76 11.40 11.66 11.92 12.18 12.45

78.23 78.23 78.23 78.23 78.23 78.23 78.23 78.23 78.23

0.91 0.91 0.91 0.91 0.91 0.91 0.91 0.91 0.91
3.91 4.33 6.23 5.28 6.28 6.54 6.80 7.06 7.32
25.93 30.26 36.49 41.77 48.05 54.59 61.38 68.44 75.76

- - - - - - - - -
25.93 30.26 36.49 41.77 48.05 54.59 61.38 68.44 75.76
31-Mar-20 30-Apr-20 31-May-20 30-Jun-20 31-Jul-20 31-Aug-20 30-Sep-20 31-Oct-20 30-Nov-20
31-Mar-20 30-Jun-20 30-Jun-20 30-Jun-20 30-Sep-20 30-Sep-20 30-Sep-20 31-Dec-20 31-Dec-20
31-Mar-20 31-Mar-21 31-Mar-21 31-Mar-21 31-Mar-21 31-Mar-21 31-Mar-21 31-Mar-21 31-Mar-21

0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
8% 8% 8% 8% 8% 8% 0% 0% 0%
0% 0% 0% 0% 0% 0% 17% 17% 17%
0% 0% 0% 0% 0% 0% 0% 17% 17%
2% 2% 2% 2% 2% 2% 2% 2% 2%
0% 0% 0% 0% 0% 0% 0% 17% 17%

- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
3.92 3.92 3.92 3.92 3.92 3.92 - - -
- - - - - - 0.63 0.63 0.63
- - - - - - - 0.78 0.78
0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29 0.29
- - - - - - - 3.14 3.14
0.91 - - - - - - - -
5.13 4.21 4.21 4.21 4.21 4.21 0.92 4.84 4.84

- - - - - - - - -
5.13 4.21 4.21 4.21 4.21 4.21 0.92 4.84 4.84
12.71 12.15 12.37 12.58 12.80 13.01 9.87 14.01 14.26
5.13 4.21 4.21 4.21 4.21 4.21 0.92 4.84 4.84
- - - - - - - - -
- - - - - - - - -

87% 88% 89% 90% 91% 92% 93% 94% 95%

2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%

59.0% 61.5% 64.1% 66.7% 69.3% 72.0% 74.0% 76.9% 79.9%
2.6% 2.5% 2.6% 2.6% 2.6% 2.7% 2.0% 2.9% 2.9%
12.71 12.15 12.37 12.58 12.80 13.01 9.87 14.01 14.26

78.23 71.71 65.19 58.67 52.15 45.63 39.11 32.60 26.08

0.91 0.84 0.76 0.68 0.61 0.53 0.46 0.38 0.30
7.58 7.94 8.16 8.37 8.58 8.80 8.96 9.17 9.42
83.35 91.29 99.44 107.81 116.40 125.20 134.15 143.32 152.74
8.33% 8.33% 8.33% 8.33% 8.33% 8.33% 8.33% 8.33%
- 6.52 6.52 6.52 6.52 6.52 6.52 6.52 6.52
83.35 84.77 92.92 101.29 109.88 118.68 127.63 136.80 146.22
31-Dec-20 31-Jan-21 28-Feb-21 31-Mar-21
31-Dec-20 31-Mar-21 31-Mar-21 31-Mar-21
31-Mar-21 31-Mar-21 31-Mar-21 31-Mar-21

0% 0% 0% 0% 100%
0% 0% 0% 0% 100%
0% 0% 0% 0% 100%
0% 0% 0% 0% 100%
0% 0% 0% 0% 100%
17% 17% 17% 0% 100%
17% 17% 17% 17% 100%
2% 2% 2% 2% 100%
17% 17% 17% 17% 100%

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
0.63 0.63 0.63 -
0.78 0.78 0.78 0.78
0.29 0.29 0.29 0.29
3.14 3.14 3.14 3.14
- - - -
4.84 4.84 4.84 4.21

- - - -
4.84 4.84 4.84 4.21
14.50 14.75 14.99 53.26
4.84 4.84 4.84 4.21
- - - -
- - - -

96% 98% 99% 100%

2.00% 2.00% 2.00% 10.00%

82.9% 85.9% 89.0% 100.0%
3.0% 3.0% 3.1% 11.0%
 14.50 14.75 14.99 53.26

19.56 13.04 6.52 -

0.23 0.15 0.08 -
9.66 9.91 10.15 49.04
162.40 172.31 182.46 231.51
8.33% 8.33% 8.33% 8.33%
6.52 6.52 6.52 6.52
155.88 165.79 175.94 224.99
 Workings 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21
Cost Incurred 170.81 85.05 74.85 50.40
Cumulative Cost Incurred 170.81 255.86 330.71 381.10
% cost Incurred 45% 22% 20% 13%
%Cumulative Cost Incurred 45% 67% 87% 100%

Sales % 20% 24% 24% 32%

Sales Proceeds 96.88 116.25 116.25 155.00
Cumulative Sales 96.88 213.13 329.38 484.38
Cumulative Sales (%) 20% 44% 68% 100%

ReVenues to be booked 43.42 99.67 142.74 198.56

Cost incurred to be booked 34.16 78.42 112.30 156.22

WIP for Balance Sheet 136.65 143.28 105.83 -

Profit & Loss Statement 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21

Revenues 43.42 99.67 142.74 198.56
Cost Incurred 34.16 78.42 112.30 156.22
EBITDA 9.26 21.25 30.43 42.34
Interest (not capatalized) 0.70 - - 5.02
PBT 8.56 21.25 30.43 37.32
33% Tax 2.84 7.06 10.11 12.40
PAT 5.72 14.19 20.32 24.92

Balance Sheet 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21

Liabilities
Equity 50 50 50 50
Reserves & Surplus 5.72 19.91 40.23 65.15
Term Loan 77.39 78.23 78.23 -
Working Capital Loans 5.00 - - -
Total Liabilities 138.11 148.14 168.46 115.15

Work In Process(WIP) 136.65 143.28 105.83 -

Cash In Hand 1.46 4.85 62.63 115.15
Total Assets 138.11 148.14 168.46 115.15

- - - -
Cashflows 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21
Sales 43.42 99.67 142.74 198.56
Equity 50 - - -
Term Loan Drawdown 77.39 0.84 - -
Working Capital 5.00 -5.00 - -
Total Inflow 175.81 95.50 142.74 198.56

Cash Outflow in Project 170.81 85.05 74.85 50.40

Repayments - - - 78.23
Interest (not capatalized) 0.70 - - 5.02
Tax 2.84 7.06 10.11 12.40
Total Outflow 174.35 92.11 84.96 146.04

New Cashflow 1.46 3.40 57.78 52.52

IRR 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21
Project Outflow 173.65 92.11 84.96 62.79
Project Inflow 43.42 99.67 142.74 198.56
Net Free Cashflow -130.23 7.56 57.78 135.77
IRR 18%