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  • Expressway Project Finance Task 4A (Avinash Singh)

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    avinash singh
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    The document outlines the details of a proposed PPP expressway project in Hyderabad, Tamil Nadu. It includes key project parameters such as the 100km length, 20 year concession period, construction duration of 3 years, and expected traffic and toll rates. It provides a breakdown of the total project cost of Rs. 2,000,000,000 and expected annual O&M costs. It also outlines the expected traffic growth, toll revenues, and cash flow over the 20 year concession period.

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    Expressway project finance Task 4A (Avinash Singh)

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    Expressway project finance Task 4A (Avinash Singh)

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    The document outlines the details of a proposed PPP expressway project in Hyderabad, Tamil Nadu. It includes key project parameters such as the 100km length, 20 year concession period, construction duration of 3 years, and expected traffic and toll rates. It provides a breakdown of the total project cost of Rs. 2,000,000,000 and expected annual O&M costs. It also outlines the expected traffic growth, toll revenues, and cash flow over the 20 year concession period.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    829 views9 pages

    Expressway Project Finance Task 4A (Avinash Singh)

    Uploaded by

    avinash singh
    The document outlines the details of a proposed PPP expressway project in Hyderabad, Tamil Nadu. It includes key project parameters such as the 100km length, 20 year concession period, construction duration of 3 years, and expected traffic and toll rates. It provides a breakdown of the total project cost of Rs. 2,000,000,000 and expected annual O&M costs. It also outlines the expected traffic growth, toll revenues, and cash flow over the 20 year concession period.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 9

    PPP based Expressway Project in Hyderabad, TN

    Cost Sheet
    General Terms 2,000,000,000 E
    Lenght 100 km of 2x2 lanes 600,000,000
    Concession Duration 20 years
    Construction Duration 3 years

    Traffic and Toll


    Average daily traffic 20,000
    Yearly traffic increases 5%
    Toll amt/vehicle ₹ 80.00

    Project Cost (CapEx) Year 1

    Land Cost 25% 500,000,000 -


    Construction Cost 50% 1,000,000,000
    Escalation 12% 240,000,000
    Toll Facilities 1% 20,000,000
    Design 1% 20,000,000 20,000,000
    Supervision 6% 120,000,000
    Contingency 5% 100,000,000
    Total Cost of Project 100% 2,000,000,000

    OpeEx Cost (Yearly) 280,000,000


    Fixed Concessionaire Cost 15% 42,000,000
    Fixed Operation Cost 30% 84,000,000
    Fixed Light maintenance cost 10% 28,000,000
    Heavy maintenance cost(20% of
    20%
    Construction cost/3yr) 56,000,000
    Other maintenance cost(1% of
    1%
    Construction cost/yr) 2,800,000
    Variable cost(depend on traffic) 24% 67,200,000
    Total 100% 280,000,000
    erabad, TN

    D
    1,400,000,000

    Year 2 Year 3
    71% 29%
    - -
    710,000,000 290,000,000
    170,400,000 69,600,000
    14,200,000 5,800,000
    - -
    85,200,000 34,800,000
    71,000,000 29,000,000
    1,420,000,000 580,000,000
    Revenue
    City Hyderabad
    Toll price/vehicle ₹ 80.00
    Yearly traffic increases 5%
    Average Daily Traffic 20,000.00
    Average Monthly Traffic 600,000.00 30 multiply by 10,000
    Average Yearly Traffic 7,200,000.00 12 multiply by 3,00,000

    Sr. No. Year Traffic Revenue


    1 2020 0 0
    2 2021 0 0
    3 2022 0 0
    4 2023 7,200,000 576,000,000
    5 2024 7,560,000 604,800,000
    6 2025 7,938,000 635,040,000
    7 2026 8,334,900 666,792,000
    8 2027 8,751,645 700,131,600
    9 2028 9,189,227 735,138,180
    10 2029 9,648,689 771,895,089
    11 2030 10,131,123 810,489,843
    12 2031 10,637,679 851,014,336
    13 2032 11,169,563 893,565,052
    14 2033 11,728,041 938,243,305
    15 2034 12,314,443 985,155,470
    16 2035 12,930,166 1,034,413,244
    17 2036 13,576,674 1,086,133,906
    18 2037 14,255,508 1,140,440,601
    19 2038 14,968,283 1,197,462,631
    20 2039 15,716,697 1,257,335,763
    Total 186,050,638 14,884,051,021
    Cash Flow/ Fin. Flow
    PROJECT DETAILS
    Length 100Km ₹ 200.00 Inflation
    Equity 30% ₹ 60.00 Tax Holiday
    Debt 70% ₹ 140.00 Tax rate
    Increase in Traffic Cost/Yr variable cost 3%

    Sr. No. 1 2 3
    Year 2020 2021 2022
    Date 1 April 2020 1 April 2021 ###
    Revenue
    Revenue - - -
    Total Revenue
    Operating Expenses
    Fixed Concessionaire Cost
    Fixed Operation Cost
    Fixed Light maintenance cost
    Heavy maintenance cost(20% of Construction cost/3yr)
    Other maintenance cost(1% of Construction cost/yr)
    Variable cost(depend on traffic)
    Total Operating Expenses

    EBITDA
    Non Operating Expenses
    Interest payment
    Depreciation
    Total Non-Operating Expenses
    Income before taxes
    Tax
    Net Income
    Cash Flow
    Equity -60.0000
    Net Income
    Add back depreciation
    Principal Payment (-)
    Final Project Cashflow (Equity) -60.0000 - -

    DSCR

    Final Project Cashflow -200.0000 - -


    ASSUMPTIONS RESULTS
    6.5% Debt rate 7.3% Depreciation 8.00% Equity IRR
    0 yrs Moratorium 2 yrs Discount 10% Min DSCR
    25.00% Debt tenure 12 yrs Construction 3 yrs Avg DSCR
    Project IRR

    4 5 6 7 8 9 10
    2023 2024 2025 2026 2027 2028 2029
    1 April 2023 1 April 2024 ### 1 April 2026 1 April 2027 ### 1 April 2029

    57.6000 60.4800 63.5040 66.6792 70.0132 73.5138 77.1895


    57.6000 60.4800 63.5040 66.6792 70.0132 73.5138 77.1895

    4.2000 4.4730 4.7637 5.0734 5.4032 5.7544 6.1284


    8.4000 8.9460 9.5275 10.1468 10.8063 11.5087 12.2568
    2.8000 2.9820 3.1758 3.3823 3.6021 3.8362 4.0856
    5.6000 5.9640 6.3517 6.7645 7.2042 7.6725 8.1712
    0.2800 0.2982 0.3176 0.3382 0.3602 0.3836 0.4086
    6.7200 6.9216 7.1292 7.3431 7.5634 7.7903 8.0240
    28.0000 29.5848 31.2656 33.0483 34.9394 36.9458 39.0746

    29.6000 30.8952 32.2384 33.6309 35.0737 36.5681 38.1149

    -10.1500 -9.5909 -8.9912 -8.3481 -7.6584 -6.9186 -6.1252


    -4.0000 -3.6800 -3.3856 -3.1148 -2.8656 -2.6363 -2.4254
    -14.1500 -13.2709 -12.3768 -11.4629 -10.5240 -9.5550 -8.5507
    15.4500 17.6243 19.8616 22.1680 24.5498 27.0131 29.5643
    -3.8625 -4.4061 -4.9654 -5.5420 -6.1374 -6.7533 -7.3911
    11.5875 13.2182 14.8962 16.6260 18.4123 20.2598 22.1732

    - - - - - - -
    11.5875 13.2182 14.8962 16.6260 18.4123 20.2598 22.1732
    4.0000 3.6800 3.3856 3.1148 2.8656 2.6363 2.4254
    -7.7119 -8.2710 -8.8706 -9.5137 -10.2035 -10.9432 -11.7366
    7.8756 8.6273 9.4112 10.2270 11.0744 11.9529 12.8620

    1.44 1.48 1.53 1.57 1.62 1.67 1.72

    7.8756 8.6273 9.4112 10.2270 11.0744 11.9529 12.8620


    RESULTS
    15.78%
    1.44
    1.70
    4.29%

    11 12 13 14 15 16 17
    2030 2031 2032 2033 2034 2035 2036
    1 April 2030 ### 1 April 2032 1 April 2033 ### 1 April 2035 1 April 2036

    81.0490 85.1014 89.3565 93.8243 98.5155 103.4413 108.6134


    81.0490 85.1014 89.3565 93.8243 98.5155 103.4413 108.6134

    6.5267 6.9510 7.4028 7.8840 8.3964 8.9422 9.5234


    13.0535 13.9020 14.8056 15.7680 16.7929 17.8844 19.0469
    4.3512 4.6340 4.9352 5.2560 5.5976 5.9615 6.3490
    8.7023 9.2680 9.8704 10.5120 11.1952 11.9229 12.6979
    0.4351 0.4634 0.4935 0.5256 0.5598 0.5961 0.6349
    8.2648 8.5127 8.7681 9.0311 9.3021 9.5811 9.8685
    41.3336 43.7310 46.2756 48.9766 51.8440 54.8883 58.1207

    39.7154 41.3704 43.0809 44.8477 46.6716 48.5530 50.4927

    -5.2743 -4.3617 -3.3830 -2.3333 -1.2074 - -


    -2.2314 -2.0529 -1.8886 -1.7376 -1.5985 -1.4707 -1.3530
    -7.5057 -6.4146 -5.2716 -4.0708 -2.8060 -1.4707 -1.3530
    32.2097 34.9558 37.8093 40.7769 43.8656 47.0824 49.1397
    -8.0524 -8.7390 -9.4523 -10.1942 -10.9664 -11.7706 -12.2849
    24.1573 26.2169 28.3570 30.5827 32.8992 35.3118 36.8548

    - - - - - - -
    24.1573 26.2169 28.3570 30.5827 32.8992 35.3118 36.8548
    2.2314 2.0529 1.8886 1.7376 1.5985 1.4707 1.3530
    -12.5875 -13.5001 -14.4789 -15.5286 -16.6544 - -
    13.8011 14.7696 15.7667 16.7916 17.8433 36.7824 38.2078

    1.77 1.83 1.88 1.94 2.00

    13.8011 14.7696 15.7667 16.7916 17.8433 36.7824 38.2078


    18 19 20
    2037 2038 2039
    1 April 2037 ### 1 April 2039

    114.0441 119.7463 125.7336


    114.0441 119.7463 125.7336

    10.1425 10.8017 11.5038


    20.2849 21.6035 23.0077
    6.7616 7.2012 7.6692
    13.5233 14.4023 15.3385
    0.6762 0.7201 0.7669
    10.1646 10.4695 10.7836
    61.5531 65.1983 69.0698

    52.4909 54.5479 56.6638

    - - -
    -1.2448 -1.1452 -1.0536
    -1.2448 -1.1452 -1.0536
    51.2462 53.4028 55.6102
    -12.8115 -13.3507 -13.9026
    38.4346 40.0521 41.7077

    - - -
    38.4346 40.0521 41.7077
    1.2448 1.1452 1.0536
    - - -
    39.6794 41.1973 42.7612

    39.6794 41.1973 42.7612


    Debt Repayment Schedule

    Debt Amount ₹ 140.00 Period No. Date (EoQ)


    Debt rate 7.25% 0 1-Apr-2023
    Moratorium 2 yrs 1 1-Apr-2024
    Term 12 yrs 2 1-Apr-2025
    Payment Periods 12 3 1-Apr-2026
    4 1-Apr-2027
    5 1-Apr-2028
    6 1-Apr-2029
    7 1-Apr-2030
    8 1-Apr-2031
    9 1-Apr-2032
    10 1-Apr-2033
    11 1-Apr-2034
    12 1-Apr-2035
    Int. Pmt. Prin. Pmt. Total Pmt. Prin. Balance
    10.15 0 10.15 150.15
    10.15 7.71 17.86 142.44
    9.59 8.27 17.86 134.17
    8.99 8.87 17.86 125.30
    8.35 9.51 17.86 115.78
    7.66 10.20 17.86 105.58
    6.92 10.94 17.86 94.64
    6.13 11.74 17.86 82.90
    5.27 12.59 17.86 70.31
    4.36 13.50 17.86 56.81
    3.38 14.48 17.86 42.33
    2.33 15.53 17.86 26.80
    1.21 16.65 17.86 10.15

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