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Route |
10 |
km |
Cap cost Rs 550 cr |
550 |
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Debt/equity |
2.7 |
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phpdtrips |
20000 |
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Equity 250 cr and debt 300 cr |
Equity 150 cr and debt 400 cr |
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At minimum entry charge of Rs: |
5 |
off peak |
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typical day: |
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10 |
in peak |
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Down direction 3 hrs of peak in a day of 20 hrs
and rest of time 30% |
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occupation assumed: |
20,000 x 3
+ 20,000 x 0.3 x 17= |
162000 |
trips |
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charged at Min charge of Rs 5 per trip earns
annually |
29.565 |
cr |
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peak occupation direction for peak period min
charge |
10.95 |
cr |
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raised by Rs 5, gives extra |
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Total |
40.515 |
cr |
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In the other direction too same load except peak
may be at different time. |
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total will be………………………………………………Rs |
81.03 |
cr B |
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With single direction peak flow the above is the
position. |
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If both directions peaks occur simultaneously: |
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peak period trips |
240000 |
yields at peak charge |
87.6 |
cr |
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non-peak trips |
168000 |
yields at
half-price |
30.66 |
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total |
118.26 |
cr C |
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Add for floating population of 50000 trips a day
at Rs 20 (Min entry charge) |
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add |
36.5 |
cr A |
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Max total |
154.76 |
Cr (A+C) |
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Min |
117.53 |
Cr (A+B) |
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For daily users, alternate model of selling 1000
km per month at Rs 500 |
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to 1.5 lac families yields Rs |
90 |
cr D |
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Floating population |
Rs |
36.5 |
cr A |
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Total |
126.5 |
cr E |
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Expenses in operation: |
Rs . Crores/annum |
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Scene 2 |
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1.Staff salaries 300 persons |
2 |
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2.Management fee to KR |
5 |
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3. Energy |
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15 |
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4. Spare parts |
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2 |
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Earnings before |
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Total |
24 |
cr EE |
interest/depreciation |
24 |
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Interest on Rs 300 cr@12% |
36 |
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/taxes Cr |
E- EE |
102.5 |
48 |
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Total expenses |
60 |
F |
Project cost/EBIDT |
5.37 |
72 |
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Net operating surplus |
66.5 |
E-F |
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54.5 |
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Depreciation Provisions 5% |
5% |
27.5 |
G |
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27.5 |
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Profit |
39 |
H |
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27 |
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Year |
2008 |
2009 |
2010 |
2011 |
2013 |
2014 |
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Cash surplus |
66.5 |
66.5 |
66.5 |
66.5 |
66.5 |
66.5 |
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54.5 |
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Tax at 20% of Profit H |
7.8 |
7.8 |
7.8 |
7.8 |
7.8 |
7.8 |
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5.4 |
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Equity holder takes as dividend |
58.7 |
58.7 |
58.7 |
58.7 |
58.7 |
58.7 |
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49.1 |
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Entire equity amount recovered in 4 to 5 years.
Debt managed at a cost of 12% per annum. |
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Dividend/Equity |
23% |
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33% |
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on equity of |
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on equity of 150 cr |
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250 cr. |
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The fare box collections alone are taken into
account. Imagine the traffic realisation |
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is not upto the mark, and consider drop in
revenues by 20% |
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Income |
|
101.2 |
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Expenditure |
24 |
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Optg surplus |
77.2 |
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77.2 |
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Interest |
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36 |
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On 400 cr at 12% |
48 |
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Earnings before depreciation & taxes |
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41.2 |
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29.2 |
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Depreciation |
27.5 |
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27.5 |
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Profit before taxes |
13.7 |
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1.7 |
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Taxes on profit |
2.74 |
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0.34 |
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Net Profit |
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10.96 |
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|
1.36 |
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Cash surplus |
|
38.46 |
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28.86 |
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As % of equity |
15% |
on equity of 250 cr |
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If equity is 150 cr |
19% |
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So between 5 to 7 years one can manage to recover
the equity amount. |
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Debt can be maintained by re-financing at 12% is
the assumption here. |
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Since international finance is available at 6 to
7% this should be possible. |
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Revenue risk is real- ridership is proven only
after we experiment the first route and local condns. |
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play quite serious role. So additional comfort is
required for the BOOT operator, to derive income |
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||||||||
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from the
real estate opportunity space created during the construction of Skybus. |
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|||||||
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Expected loss of revenues have to be partly
compensated- by leasing out the 40% of 90000 sqm |
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||||||||
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of space.
To earn say Rs 20 cr per annum, the lease rental per sqm for 40,000 sqm ,say,
is Rs |
|
||||||||
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3000 |
So if a person takes 12 sq.m that is about 100
sq.ft, he has to pay monthly Rs 3000. |
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|||||||
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in CBD. It is not necessary that one gets always
this revenue in the first year itself. |
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But this comfort for the BOOT operator who is required to raise finances. |
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