Adarsh Flashcards
(17 cards)
Original Proposed Land Area of Adarsh – Sarjapur Project
- 28 acres
- 15 A - already acquired
- 125 A – additional
Primary Security Value on 85 crores disbursed
24.15 @ 8.16 cr = 197 cr
Value of Additional Security
94 crores (11.7 acres)
- 46 @6.33 cr = 28 cr
- 24 @9.15 cr = 66 cr
Current Value of Total Security - on 85 cr disb
291.7 cr
Original Targeted Security Value
356 (291.7 + 65 )
2.37X
Quarterly Interest of Adarsh - Crores
~ 2.18 cr
Deal IRR
10.25% Quarterly coupon + 7.85% Red Prem
Target XIRR of
Plotted Area Details
28.43 A
753,749 sq ft
No of Plots : 436
Avg Ticket size : 72 Lacs
Land Area – New Proposal
Additional 4.88 Acres (instead of 7.1 A ; 2.25 A sold to Godrej)
Consideration : 10 cr (balance adjustment with landowners)
Total Land now : 16.18 A
How much was original “ Additional Land “ Proposed to be bought at
~ 8 cr / acre (Market Value as per CBRE)
Budgeted for 9 cr / A as per sanction limit
Plotted Maths
339 cr Sales (4500 * 7.53 Lacs)
61 cr Total Cost
277.9 cr Free Cashflows
Godrej Deal
12.90 acres being sold (53%) @8.98 cr / acre = 115.8 cr
Payment Plan :
104 90% upfront – Sale Deed
12 10% on building plan approvals
Total Debt – March 20
2972 crores (vs 3374 in Dec 18)
- 480 : LRD
- 183 : JM
- 632 : u/c projects
- 1635 : upcoming
- 43 : Corp Loans
Total Debt – at time of loan
- 3 crores
- 497 : LRD
- 797 : JM
- 728 : u/c projects
- 1352 : upcoming
Other Debt – March 20
- Dev projects : 6,320 Mn
* U/C projects : 16,350 Mn
To be launched projects - March 20
Overall
Unsold Rec 121,116
Total Area 22.8 msf
Cost to be incurred 47,248 (100%)
Interest to be incurred 6,099
Total Cost to be incurred
Net Free CFs : 67,770 Mn
Loan : 16350 Mn
Under – Dev Projects - Debt - March 20
Overall
Sold Rec 5,586 (%)
Unsold Rec 24,883 (%)
Total CFs 30,470
Sold Area 8.05
Unsold Area 3.12 (28%)
Total Area 11.17 msf
Cost Incurred
Cost to be incurred 9,446 (%)
Interest to be incurred 1,485
Total Cost to be incurred
Net Free CFs : 19540 Mn
