25 hospitals , out of

which 14 are owned

and 11 are owned by
others
Operating revenue

Rupees in millions

Year

Rooms

Cummilative

Room rent

1043

2190

2190

678

90

2280

73

2
3
4
5
6
7

130
80
130
186
355
150

2410
2490
2620
2806
3161
3311

Medicines &
consumables
Management fee
Operating expenses
Materials
Personnel
Upkeep and services
S&GA

258
258
400
400
Revenue from Rent

calculation of room
rent

occupacy rate

No, of rooms

Room rent

days in year

Total rent

Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7

0.6
0.606
0.61206
0.6181806
0.624362406
0.63060603
0.63691209

2280
2410
2490
2620
2806
3161
3311

2500
2875
3306.25
3802.1875
4372.515625
5028.392969
5782.651914

365
365
365
365
365
365
365

1248300000
1532570213
1839170104
2247724385
2796073907
3658513737
4451010196

Management
fee

Year 1

Operating revenues
Medicine &
Total rent (A)
consumables
revenue (B)
1248300000
811395000

Year 2

1532570213

996170638.1

107279914.9

Year 3
Year 4
Year 5
Year 6
Year 7

1839170104
2247724385
2796073907
3658513737
4451010196

1195460568
1461020851
1817448040
2378033929
2893156627

128741907.3
157340707
195725173.5
256095961.6
311570713.7

Year

87381000

Operating expenses

Upkeep &
service
expenses (F)
370745100
455173353.1
546233521
667574142.5
830433950.5
1086578580
1321950028

Year

Total revenue
(A+B)

Material
Expenses(D)

Personnel
Expenses(E)

Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7

2059695000
2528740851
3034630672
3708745236
4613521947
6036547666
7344166823

308954250
379311127.6
455194600.8
556311785.4
692028292.1
905482149.8
1101625023

308954250
379311127.6
455194600.8
556311785.4
692028292.1
905482149.8
1101625023

Revenue
Rent
Medicines
Operating revenue
from Operations(H)
Mananged fee (one
time)
Total revenue (I)
Expenses
ME
PE
UPKEEP
S&CG
Total Expenses (J)
EBDIT
Depreciation
EBIT
Tax@ 20%
Non operating EAT
Add depren
Gross cash flow
Investment
Free cash flow
Non Operating CF
Non Operating Free
cash flows

Year 1
1248 M
811 M

Calculation of Cash flow from operations

Year 2
Year 3
Year 4
1533 M
1839 M
2248 M
996 M
1195 M
1461 M

Year 5
2796 M
1817 M

2060 M

2529 M

3035 M

3709 M

4614 M

87 M

107 M

129 M

157 M

196 M

2147 M

2636 M

3163 M

3866 M

4809 M

309 M
309 M
371 M
371 M
1359 M
788 M
120 M
668 M
134 M
534 M
120 M
654 M
302 M
352 M

379 M
379 M
455 M
455 M
1669 M
967 M
132 M
835 M
167 M
668 M
132 M
800 M
441 M
359 M
300 M

455 M
455 M
546 M
546 M
2003 M
1161 M
148 M
1012 M
202 M
810 M
148 M
958 M
392 M
566 M

556 M
556 M
668 M
668 M
2448 M
1418 M
182 M
1236 M
247 M
989 M
182 M
1171 M
702 M
469 M

692 M
692 M
830 M
830 M
3045 M
1764 M
236 M
1529 M
306 M
1223 M
236 M
1459 M
1071 M
387 M
600 M

352 M

659 M

566 M

469 M

987 M

S&GA (G)
370745100
455173353.1
546233521
667574142.5
830433950.5
1086578580
1321950028

Given
Medicine &
consumables

0.65

Management fee

0.07

Material expense

0.15

Personnel exp
Upkeep exp
S&GA

0.15
0.18
0.18

Calculation for depreciation

Year
0
1
2
3
4
5
6
7

Rooms

90
130
80
130
186
355
150

Investment

200
300
240
500
800
1400
800

Gross NFA

1710
2010
2250
2750
3550
4950
5750

Net NFA

depre

1710
1890
2118
2602
3368
4714
5420

600
120
132
148
182
236
330
379

CA

Inv In CA

516 M
618 M
759 M
910 M
1113 M
1384 M
1811 M

102 M
141 M
152 M
202 M
271 M
427 M
392 M

Calculation for Investment

Years

Inv In Fixed
asset

FA in M

Working
Cap
Investment

Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7

200
300
240
500
800
1400
800

200 M
300 M
240 M
500 M
800 M
1400 M
800 M

618 M
759 M
910 M
1113 M
1384 M
1811 M
2203 M

Year 6
3659 M
2378 M

Year 7
4451 M
2893 M

6037 M

7344 M

256 M

312 M

6293 M

7656 M

905 M
905 M
1087 M
1087 M
3984 M
2309 M
330 M
1979 M
396 M
1583 M
330 M
1913 M
1827 M
86 M
800 M

1102 M
1102 M
1322 M
1322 M
4847 M
2809 M
379 M
2429 M
486 M
1943 M
379 M
2323 M
1192 M
1130 M

886 M

1130 M

Cummilative
depreciation
600
720
852
1000
1182
1418
1748
2128

Total Inv
(FA+CA)
302 M
441 M
392 M
702 M
1071 M
1827 M
1192 M

25 hospitals , out of
which 14 are owned and
11 are owned by others

Operating revenue

Rupees in
millions

Room rent

1043

Medicines &
consumables
Management fee
Operating expenses
Materials
Personnel
Upkeep and services
S&GA

678
73
258
258
400
400
Revenue from Rent

calculation of room rent

occupacy rate

No, of rooms

Room rent

days in year

Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7

0.5
0.5
0.5
0.5
0.5
0.5
0.5

2262
2366
2430
2534
2683
2967
3087

2500
2875
3306.25
3802.1875
4372.515625
5028.392969
5782.651914

365
365
365
365
365
365
365

Year
Year 1

Operating revenues
Medicine &
Total rent (A)
consumables
revenue (B)
1032
671

Management fee

21

Year 2

1241

807

25

Year 3
Year 4
Year 5
Year 6
Year 7

1466
1758
2141
2723
3258

953
1143
1392
1770
2117

29
35
43
54
65

Operating expenses

Upkeep &
service expenses
(F)
307
369
435
522
636
809
968

Year

Total revenue
(A+B)

Material
Expenses(D)

Personnel
Expenses(E)

Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7

1703
2048
2419
2901
3532
4492
5375

255
307
363
435
530
674
806

255
307
363
435
530
674
806

Revenue
Rent
Medicines
Operating revenue from
Operations(H)
Mananged fee (one
time)
Total revenue (I)
Expenses
ME
PE
UPKEEP
S&CG
Total Expenses (J)
EBDIT
Depreciation
EBIT
Tax@ 20%
Non operating EAT
Add depren
Gross cash flow
Investment
Free cash flow
Non Operating CF
Non Operating Free cash
flows

Year 1
1032
671

Calculation of Cash flow from operations

Year 2
Year 3
Year 4
1241
1466
1758
807
953
1143

1703

2048

2419

2901

21

25

29

35

1724

2073

2449

2936

255
255
307
307
1124
600
257
343
103
240
257
497
365
132

307
307
369
369
1352
721
263
458
137
321
263
584
438
146
300

363
363
435
435
1597
852
298
554
166
388
298
686
388
297

435
435
522
522
1915
1022
368
654
196
458
368
825
693
133

132

446

297

133

Medicine &
consumables
Management
fee
Material
expense
Personnel exp
Upkeep exp
S&GA

0.65

Year

Rooms

0.02

2190

0.15

90

0.15
0.18
0.18

2
3
4
5
6
7

130
80
130
186
355
150

Calculation for depreciation

Total rent (In
M)
1032
1241
1466
1758
2141
2723
3258

Year

Rooms

Investment

Gross NFA

Net NFA

0
1
2
3
4
5
6
7

90
130
80
130
186
355
150

200
300
240
500
800
1400
800

1710
2010
2250
2750
3550
4950
5750

1710
1754
1987
2452
3182
4473
5079

Calculation for Investment

Years
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7

Fixed
Asset
200
300
240
500
800
1400
800

FA in M

WCA

CA

200
300
240
500
800
1400
800

681
819
968
1161
1413
1797
2150

516
681
819
968
1161
1413
1797

S&GA (G)
307
369
435
522
636
809
968

rations
Year 5
2141
1392

Year 6
2723
1770

Year 7
3258
2117

3532

4492

5375

43

54

65

3575

4547

5440

530
530
636
636
2331
1244
477
766
230
537
477
1014
1052
-39
600
561

674
674
809
809
2965
1582
671
911
273
638
671
1309

806
806
968
968
3548
1893
762
1131
339
792
762
1553

1784

1153

-475
800

400

325

400

Room actually
Cummilative
added
0

2190

72

2262

104
64
104
148.8
284
120

2366
2430
2534
2683
2967
3087

depre

Cummilative
depreciation

tion

600
257
263
298
368
477
671
762

600
857
1120
1418
1785
2263
2934
3695

ent
Current Asset
165
138
148
193
252
384
353

Investment
365
438
388
693
1052
1784
1153

25 hospitals , out of
which 14 are owned
and 11 are owned by
others
Operating revenue

Rupees in millions

Year

Rooms

Room rent

1043

2190

678

90

73

2
3
4
5
6
7

130
80
130
186
355
150

Medicines &
consumables
Management fee
Operating expenses
Materials
Personnel
Upkeep and services
S&GA

258
258
400
400
Revenue from Rent

calculation of room
rent

occupacy rate

No, of rooms

Room rent

days in year

Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7

0.6
0.63
0.6615
0.694575
0.72930375
0.765768938
0.804057384

2280
2410
2490
2620
2806
3161
3311

2500
2875
3306.25
3802.1875
4372.515625
5028.392969
5782.651914

365
365
365
365
365
365
365

Operating revenues
Medicine & consumables Management
revenue (B)
fee

Year

Total rent (A)

Year 1

1248

811

150

Year 2

1593

1036

191

Year 3
Year 4
Year 5
Year 6
Year 7

1988
2525
3266
4443
5619

1292
1642
2123
2888
3652

239
303
392
533
674

Operating expenses

Year

Total revenue (A+B)

Material Expenses(D)

Personnel
Expenses(E)

Upkeep &
service
expenses (F)

Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7

2060
2629
3280
4167
5389
7330
9272

309
394
492
625
808
1100
1391

309
394
492
625
808
1100
1391

371
473
590
750
970
1319
1669

Year 1
1248
811

Calculation of Cash flow from operations

Year 2
Year 3
Year 4
1593
1988
2525
1036
1292
1642

2060

2629

3280

4167

150

191

239

303

2209

2820

3518

4470

309
309
371
371
1359
850
86
765
115
650
86
735
199
536

394
394
473
473
1735
1085
96
989
148
840
96
937
442
494
300

492
492
590
590
2165
1354
108
1246
187
1059
108
1167
403
764

625
625
750
750
2750
1720
132
1588
238
1350
132
1482
722
760

536

794

764

760

Revenue
Rent
Medicines
Operating revenue
from Operations(H)
Mananged fee (one
time)
Total revenue (I)
Expenses
ME
PE
UPKEEP
S&CG
Total Expenses (J)
EBDIT
Depreciation
EBIT
Tax@ 20%
Non operating EAT
Add depren
Gross cash flow
Investment
Free cash flow
Non Operating CF
Non Operating Free
cash flows

Cummilative

Medicine &
consumables

0.65

2190

Management fee

0.12

2280

Material expense

0.15

2410
2490
2620
2806
3161
3311

Personnel exp
Upkeep exp
S&GA

0.15
0.18
0.18

Calculation for depreciation

Total rent

Year

Rooms

Investment

Gross NFA

1248
1593
1988
2525
3266
4443
5619

0
1
2
3
4
5
6
7

90
130
80
130
186
355
150

200
300
240
500
800
1400
800

1710
2010
2250
2750
3550
4950
5750

Calculation for Investment

Years
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7

Fixed Asset
200
300
240
500
800
1400
800

FA in M

WCA
515
657
820
1042
1347
1833
2318

S&GA (G)
371
473
590
750
970
1319
1669

erations
Year 5
3266
2123

Year 6
4443
2888

Year 7

5389

7330

9272

392

533

674

5781

7864

9946

808
808
970
970
3557
2224
171
2053
308
1745
171
1916
1105
811
600

1100
1100
1319
1319
4838
3025
239
2787
418
2369
239
2607
1885
722
800

1411

1522

5619
3652

1391
1391
1669
1669
6119
3827
276
3551
533
3018
276
3294
1285
2009
2009

r depreciation
Net NFA

depre

1710
1925
2154
2642
3418
4779
5511

600
86
96
108
132
171
239
276

CA

Current Asset

516
515
657
820
1042
1347
1833

-1
142
163
222
305
485
485

Cummilative
depreciation
600
686
782
889
1022
1192
1431
1707

or Investment
Investment
199
442
403
722
1105
1885
1285