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Kandrori

Kandrori

The project cost for the MIIUS project at Kandrori is estimated at Rs. 139.60 crores as detailed below:

Cost of the Project:
Sr. No. Particulars Total Cost
1. Land Own
2. Building/Civil Works & Equipments 132.20
3. Pre-Operative Expenses 7.40
  Total 139.60
Executive Summary and Important Parameters:

Land: Own (72-82-74 Hectares).
Total Cost of the Project: 139.60 Crores Rupees
Means of Finance:

Sr. No. Component Income (In Crores)
1. Central Govt. Grant 44.46
2. Share of SIA 40.44
3. Bank Loam/Beneficiary Contribution 54.70
  Total 139.60

Scheme of formation of a new State of Art Industrial Area under modified Industrial Infrastructure Upgradation Scheme (MIIUS):

Sr. No. Component No. of Plots Saleable Area(Sq. Mtrs.)
1. Industrial Plots    
(a. 10000 sq. mtrs. 10 100000
(b. 5000 sq. mtrs. 31 155000
(c. 2000 sq. mtrs. 46 92000
(d. 1000 sq. mtrs. 33 33000
  Total 120 380000
2. Working Women Hostel   1967.89
3. Common Facility Centre (CFC)   652.74
4. School Site   5000

Year wise percentage sale plan:

Financial Year Industrial Plots Working Women Hostel Common Facility Centre (Sale of Shops and SCOs) School Site
2016-17 15% - 30% 100%
2017-18 25% - 20% -
2018-19 30% - 20% -
2019-20 15% - 20% -
2020-21 15% - 10% -
2021-22 - 10% - -
2022-23 - 15% - -
2023-24 - 20% - -
2024-25 - 20% - -
2025-26 - 35% - -

Income/Receipts details over the project period (Oct-2016 to Mar-2026):

Sr. No. Component Income (In Crores)
1. Income from Sale of Industrial Plots 161.12
2. Total Receipts from Working Women Hostel (Sale & Rental Income) 9.65
3. Total Receipts from Common Facility Centre (Sale of Shops , SCOs & Rental Income) 8.26
4. School Site 1.75
4. Other receipts (Recovery of user charges) 23.93
  Total 145.96

The financial parameters of the project are healthy and the projected DSCR is 1.75:1.
Projected Economics over the Project Period:

Component Value (Rs. in Crores)
Total Income 204.74
Total Expenses 106.24
Profit Before Tax 98.50
Profit After Tax 76.82
Average DSCR 1.75
NDSCR 2.13
Debt Equity Ratio 1.57
Debt Equity Ratio (Inclusive of Central Govt. Grant) 0.64
IRR 10.20%
Interest on Loan 13.00% P.A.
Gestation Period Pre Construction Phase- Upto Nov. 2014 Construction Phase- Dec. 2014 to Sept 2016
Repayment of Bank Loan Repayable in 38 quarterly installments (including moratorium period of 2 Qtrs starting from Oct-2016 to Mar-2017). Repayment starting from Qtr Ist of FY 2017-18 and ending on IVth Qtr of FY 2025-26.

As may be observed, the term loan component for the project has been kept at Rs. 54.70 crores which stands sanctioned from the Banks. The minimum financial stake/contribution of HPSIDC as the SIA i.e. 25% of the project cost would be of the order of Rs. 40.44 crores which may be raised as a special grant through the State Govt. The Govt. of India Grant for the project shall be to the tune of Rs. 44.46 crores.