BIO ENERGY PVT LIMITED

BASIS OF PROJECTION / ASSUMPTIONS

The project has been made on the following basis:
CAPICITY LEVELS
Total Production @ 100% capacity
Bio Diesel 15,882
Glycerin 1,765
17,647
Capacity levels has been assumed as under:
PERIOD CAPACITY
Year 01 60%
Year 02 65%
Year 03 70%
Year 04 75%
Year 05 80%
Year 06 85%
Year 07 85%
Year 08 85%
Year 09 85%
Year 10 85%
RATED PRODUCTION CAPACITY:
Average working days during the year 300 (25 days / month)
Shifts per Day 2.5
TONS
Total Production @ 60% 10,588
Total Production @ 65% 11,471
Total Production @ 70% 12,353
Total Production @ 75% 13,235
Total Production @ 80% 14,118
Total Production @ 85% 15,000
Total Production @ 85% 15,000
Total Production @ 85% 15,000
Total Production @ 85% 15,000
Total Production @ 85% 15,000

RATIO OF VARIABLE AND FIXED COST

ACCOUNT HEAD RATIO

Salaries & Wages 80:20
Depreciation 00:100
Coal 100:00
Electricity 80:20
Water 80:20
Maintenance 80:20
Advertisement 80:20
Miscellaneous 80:20
Finance cost 00:100
24
PROJECTED FINANCIAL STATEMENTS

25
 VILLA PARAISO
6200 COLLEGE OKLAHOMA CITY, OK 73121
PROJECTED INCOME STATEMENT

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

$

Revenue from AirBnB Bookings 82,700 90,970 100,067 110,074 121,081

Revenue from Wedding Event Fee 100,000 110,000 121,000 133,100 146,410
Revenue from Corporate Event Fee 20,000 22,000 24,200 26,620 29,282
Revenue from Quinceanera 20,000 21,000 22,050 23,153 24,310

Revenue from other events and short stays 50,000 55,000 60,500 66,550 73,205

TOTAL INCOME 272,700 298,970 327,817 359,496 394,288

Construction Cost 650,000 - - - -

Average Event Cost (Wedding/ Quinceanera) 32,000 33,600 35,280 37,044 38,896
Mortgage (30 Years Amortization) 25,000 25,000 25,000 25,000 25,000
Property Tax 5,000 5,250 5,513 5,788 6,078
STR/ Venue Ins. 3,500 3,675 3,859 4,052 4,254
Utilities 1,200 1,260 1,323 1,389 1,459
Maintenance & Repair Reserves 5,000 5,250 5,513 5,788 6,078
Cleaning Services 5,000 5,250 5,513 5,788 6,078
Furnishing/ Décor/ Linens/ Supplies 50,000 2,000 2,000 2,000 2,000
Licensing & Permits 25 26 28 29 30
Event Planner & Venue Manager 60,000 63,000 66,150 69,458 72,930
Tech software/ CRM/ Website 3,000 200 200 200 200
Netflix/ Hulu/ Amazon Subscription 720 756 794 833 875
Legal/ Accounting fees 5,000 5,250 5,513 5,788 6,078
CAPEX 2,400 2,520 2,646 2,778 2,917
Landscaping & Pool Maintenance 5,000 5,250 5,513 5,788 6,078
Digital Locks 1,000 - - - -

TOTAL EXPENDITURE 853,845 158,287 164,842 171,724 178,950

(DEFICIT) / SURPLUS FOR THE YEAR (581,145) 140,683 162,975 187,773 215,338
ACCUMULATED NET WORTH (440,462) (277,487) (89,714) 125,624
FDA CITY
A PROJECT OF FAISALABAD DEVELOPMENT AUTHORITY
PROJECTED INCOME STATEMENET

Column1 YEAR 0 YEAR 1 YEAR 2 YEAR 3

CAPACITY 60% 65% 70%
( -------------------------------------------------------------------------------------RUPEES------------------------------------------------------------------------------------------------------------)
CASH FLOWS FROM OPERATING ACTIVITIES

Profit before taxation #REF! #REF! #REF!

Adjustments for non cash and other items:
Depreciation #REF! #REF! #REF!
Finance cost #REF! #REF! #REF!
Operating cash flows before working capital changes #REF! #REF! #REF!
Changes in working capital
(Increase) / decrease in current assets
Accounts receivable #REF! #REF! #REF!
Stock in trade #REF! #REF! #REF!
#REF! #REF! #REF!
Increase / (decrease) in current liabilities
Creditors #REF! #REF! #REF!
#REF! #REF! #REF!
Cash generated from operations #REF! #REF! #REF!

Finance cost paid #REF! #REF! #REF!

Taxes paid #REF! #REF! #REF!
#REF! #REF! #REF!
Net cash (used in)/ generated from operating
activities (A) #REF! #REF! #REF!

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of operating fixed assets - - -

Net cash used in investing activities (B) - - -

CASH FLOWS FROM FINANCING ACTIVITIES

Short term borrowings - #REF! #REF!

Long term financing - #REF! #REF!
Increase in share capital - - -

Net cash used in financing activities ( C ) - #REF! #REF!

Net (decrease)/ increase in cash and cash

equivalents (A+B+C) #REF! #REF! #REF!
Cash and cash equivalents at the beginning of the
year 0 #REF! #REF!

Cash and cash equivalents at the end of the year #REF! #REF! #REF!
FDA CITY
A PROJECT OF FAISALABAD DEVELOPMENT AUTHORITY
NOTES TO THE PROJECTED FINANCIAL STATEMENTS
1. NON CURRENT ASSETS
- NOTE YEAR 1 YEAR 2 YEAR 3
(Rupees) (Rupees) (Rupees)

15.0%
Roads and Buildings Infrastructure
Opening balance as on October 01, 1.1 846,364,860 851,864,914 988,994,745
Additions during the year 155,829,157 311,658,315 155,829,157
1,002,194,017 1,163,523,229 1,144,823,902
Depreciation @ 15% per annum 150,329,102 174,528,484 171,723,585
Closing balance as on September 30, 851,864,914 988,994,745 973,100,316
10.0%
Water and Sanitation System
Opening balance as on October 01, 1.1 630,601,498 641,003,648 613,634,433
Additions during the year 81,624,778 40,812,389 40,812,389
712,226,276 681,816,037 654,446,822
Depreciation @ 10% per annum 71,222,628 68,181,604 65,444,682
Closing balance as on September 30, 641,003,648 613,634,433 589,002,140
10.0%
Sui Gas Infrastructure
Opening balance as on October 01, 1.1 46,073,595 52,942,887 59,125,250
Additions during the year 12,751,835 12,751,835 10,930,144
58,825,430 65,694,722 70,055,394
Depreciation @ 10% per annum 5,882,543 6,569,472 7,005,539
Closing balance as on September 30, 52,942,887 59,125,250 63,049,854
10.0%
Electrification Infrastructure
Opening balance as on October 01, 1.1 78,836,105 1,348,952,495 1,214,057,245
Additions during the year 1,420,000,000 - -
1,498,836,105 1,348,952,495 1,214,057,245
Depreciation @ 10% per annum 149,883,611 134,895,249 121,405,725
Closing balance as on September 30, 1,348,952,495 1,214,057,245 1,092,651,521

1.1. OPENING NON CURRENT ASSETS

-------------------------------------------------------------------------------- (RUPEES)----------------------------------------------------------------------

DEPRECIATION FROM CLOSING BALANCE

RATE

COST AS ON
PARTICULARS
%

JANUARY 01,2013 TO AS ON SEPTEMBER

JANUARY 01, 2013
SEPTEMBER 30, 2016 30, 2016

Roads and Buildings Infrastructure 1,934,548,252 1,088,183,393 846,364,860 15

Water and Sanitation System 1,008,962,394 378,360,896 630,601,498 10
Sui Gas Infrastructure 73,717,751 27,644,156 46,073,595 10
Electrification Infrastructure 126,137,769 47,301,664 78,836,105 10

3,143,366,166 1,541,490,109 1,601,876,057

RUPEES
 LEGACY HOMES
(A PROJECT OF LEGACY TOWERS)
NOTES TO THE PROJECTED FINANCIAL STATEMENTS
Annex -B
WIP Inventory

Year 1 Year 2 Year 3 Year 4 Year 5

Work in Progess beginning

#REF! - - #REF! #REF! #REF!
#REF! - - #REF! #REF! #REF!
#REF! - - #REF! #REF! #REF!
#REF! - - #REF! #REF! #REF!
Started During the Current Year
1089 Sq.ft Appartments - #REF! #REF! - -
1361.5 Sq.ft Appartments - #REF! #REF! - -
2722.5 Sq.ft Appartments - #REF! #REF! - -
2042 Sq.ft Appartments - #REF! #REF! - -
Completed and Transferred out during
current Period
1089 Sq.ft Appartments - - #REF!
1361.5 Sq.ft Appartments - - #REF!
2722.5 Sq.ft Appartments - - #REF!
2042 Sq.ft Appartments - - #REF!
Work in Progess Ending
1089 Sq.ft Appartments - #REF! #REF! #REF! #REF!
1361.5 Sq.ft Appartments - #REF! #REF! #REF! #REF!
2722.5 Sq.ft Appartments - #REF! #REF! #REF! #REF!
2042 Sq.ft Appartments - #REF! #REF! #REF! #REF!

Construction Cost
1089 Sq.ft Appartments - 2,044,667 #REF! #REF!
1361.5 Sq.ft Appartments - 2,555,833 #REF! #REF!
2722.5 Sq.ft Appartments - 5,111,666 #REF! #REF!
2042 Sq.ft Appartments - 4,023,343 #REF! #REF!

Closing WIP inventory balance

1089 Sq.ft Appartments - #REF! #REF! #REF! #REF!
1361.5 Sq.ft Appartments - #REF! #REF! #REF! #REF!
2722.5 Sq.ft Appartments - #REF! #REF! #REF! #REF!
2042 Sq.ft Appartments - #REF! #REF! #REF! #REF!

Grand Total - #REF! #REF! #REF! #REF!

Assumptions:
WIP is recorded at 50% stage of Completion
 FDA CITY
A PROJECT OF FAISALABAD DEVELOPMENT AUTHORITY
Notes to balance sheet as on September 30, 2016

1.1. OPENING NON CURRENT ASSETS

-------------------------------------------------------------------------------- (RUPEES)----------------------------------------------------------------------

DEPRECIATION FROM CLOSING BALANCE

COST AS ON
PARTICULARS JANUARY 01,2013 TO AS ON SEPTEMBER
JANUARY 01, 2013
SEPTEMBER 30, 2016 30, 2016

Roads and Buildings Infrastructure 1,934,548,252 1,088,183,393 846,364,860 15

Water and Sanitation System 1,008,962,394 378,360,896 630,601,498 10
Sui Gas Infrastructure 73,717,751 27,644,156 46,073,595 10
Electrification Infrastructure 126,137,769 47,301,664 78,836,105 10

3,143,366,166 1,541,490,109 1,601,876,057 ###

RUPEES ###
LONG TERM DEPOSITS
NOTE # 4

Department Year Amount paid Expenditure Deposit

SNGPL 2007 69,585,000 - 69,585,000

WASA 2014 107,674,000 - 107,674,000
FESCO 2010 7,272,646 - 7,272,646
FESCO 2011 76,308,785 - 76,308,785
FESCO 2012 18,856,294 - 18,856,294
FESCO 2013 36,342,291 - 36,342,291
FESCO 2015 46,656,954 - 46,656,954
FESCO 2016 46,152,400 - 46,152,400
FESCO 2017 4,000,000 - 4,000,000

Year 01 -

Department Amount paid Expenditure Deposit

- - -
- - -
- - -
- - -
- - -
- - -
- - -

Year 02 -

Department Amount paid Expenditure Deposit

- - -
- - -
- - -
- - -
- - -
- - -
- - -
Year 03 -

Department Amount paid Expenditure Deposit

- - -
- - -
- - -
- - -
- - -
- - -
 - - -
Year 04 -
Assumptions:
REVENUE
NOTE # 3

-
-
Capacity levels has been assumed as under:
Rate Cost Revenue Received Receivable
Product Name No. of plots No. of plots sold
(Rupees) (Rupees) (Rupees) (Rupees) (Rupees)

Balloted Plots 5,257 5,193 - -

Exemption plots 5,407 3,484
Commercial plots 555 -
Income tax homes
Model custom collector 10 kanal
FESCO plots 898 -
FDA employee plots 647 -
Public buildings
Plots ready for auction 62 -

- - -
Year 01 -Total revenue 12,826 -

- - -
- - -
Year 02 -Total revenue - -

- - -
- - -
Year 03 -Total revenue - -

- - -
- - -
Year 04 -Total revenue - -

It is assumed that prices will be increased by 10% in each year.

 Liabilities Acres Marlas

AREA UNDER PROJECT 1,815 290,400

Land cost
Actual
Payable to contractors 35,500,000

35,500,000

Payable to contractors Actual

Hassan zaman (pvt) ltd 5,000,000

Arshad & co. 28,000,000
Anjum shafiq & co 500,000
Nespak 2,000,000
35,500,000

Actual

-
-
Actual

Actual
 -

d -
c -
a 35,500,000
2,064,143,226
- 2,028,643,226

#REF!
-
-
-
#REF!
996,329,201
#REF!
WEIGHTED AVERAGE COST OF CAPITAL

Description Capital Weightage Cost of Weighted average

capital cost of capital
Rupees % % %

Sponsors equity /loan #REF! #REF! 16.38 #REF!

Bank debt-long term #REF! #REF! 16.00 #REF!

#REF! #REF! #REF!

Weighted average cost of capital is 16.22% calculated on the basis of last three years return on net assets.
BIO ENERGY (PVT) LTD.
SENSITIVITY ANALYSIS Annexure -04
----------------------------------------------------Rs-----------------------------------------------------

20% mix Cost price high Cost price high Cost price high Cost price Cost price
As per feasibility between all Chicken tallow Ghee mill by 2% and sale by 3% and sale by 5% and sale remains same remains same
DESCRIPTION report of 5th year possible only waste only price remains price remains price remains and sale price and sale price
feedstocks same same same low by 2% low by 5%

Sales #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!

Chicken Feather Tallow #REF! Err:509 Err:509 - #REF! #REF! #REF! #REF! #REF!
Palm Acid oil #REF! Err:509 - - #REF! #REF! #REF! #REF! #REF!
High FFA crude palm Oil - Err:509 - - - - - - -
Used cooking oil - Err:509 - - - - - - -
Ghee mill Waste #REF! Err:509 - Err:509 #REF! #REF! #REF! #REF! #REF!
Methanol #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Sodium Methylate #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Salaries & Wages #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Depreciation Expenses #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Coal #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Utilities Electricity #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Utilities Water #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Maintenance Expenses #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Advertising Expenses #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Misc. Expenses #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Finance cost #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
#REF! Err:509 #REF! Err:509 #REF! #REF! #REF! #REF! #REF!

Profit before taxation #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!

Project value (W.D.V) #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!

Return of investment #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
BIO ENERGY PVT LTD.

Particulars Year 01 Year 02 Year 03 Year 04 Year 05 Year 06 Year 07 Year 08 Year 09 Year 10

Sales #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Cost of sales #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Debtors #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Creditors #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Inventory #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!

Particulars Year 01 Year 02 Year 03 Year 04 Year 05 Year 06 Year 07 Year 08 Year 09 Year 10

Debtors collection days 30 30 30 30 30 30 30 30 30 30

Inventory turnover days 14 14 14 14 14 14 14 14 14 14

Creditors turnover days 30 30 30 30 30 30 30 30 30 30

 VILLA PARAISO
6200 COLLEGE OKLAHOMA CITY, OK 73121

PROJECT COST $

Acquisition Cost 750,000

Construction Cost 650,000

Furnishing & Event Equip 50,000

Total Project Cost 1,450,000

SOURCE OF FINANCE %age

- EQUITY 100.00% 1,450,000

 VILLA PARAISO
6200 COLLEGE OKLAHOMA CITY, OK 73121
Net Present Value
Discount Rate 5.0%

Year 1 2 3 4 5

Discount Factor 0.95 0.91 0.86 0.82 0.78

Undiscounted Cash Flow (581,145) 140,683 162,975 187,773 215,338

Present Value (553,471) 127,603 140,784 154,481 168,723

Net Present Value 38,120

Discounted Value (27,674) 13,079 22,191 33,292 46,615

 VILLA PARAISO
6200 COLLEGE OKLAHOMA CITY, OK 73121
IRR Calculation
5% 9%
Years Description Cash Flows DF PV DF PV

1 Initial Outflow (553,471) 0.97 (534,618) 0.94 (519,999)

2 Cash Inflow 140,683 0.91 127,603 0.84 118,410
3 Cash Inflow 162,975 0.86 140,784 0.77 125,847
4 Cash Inflow 187,773 0.82 154,481 0.71 133,023
5 Cash Inflow 215,338 0.78 168,723 0.65 139,955
NPV 64,476 (2,764)

IRR 9.79%
Payback Period

Year Expected Cash Flow ($m) Cumulative Cash Flow ($m)

1 ($581,145) ($581,145)
2 $140,683 ($440,462)
3 $162,975 ($277,487)
4 $187,773 ($89,714)
5 $215,338 $125,624

Cash Flow in Payback

Completion Year 215338.31721875
Cumulative cash flow preceding
break-even point 89714

Payback period (years) 3.42

 Payback Period: Expected vs. Cumulative Cash Flows
$300,000
$215,338
$162,975 $187,773
$200,000 $140,683 $125,624
$100,000
$0
Expected Cash Flow ($m)
($100,000)
($89,714) Cumulative Cash Flow ($m)
($200,000)
($300,000) ($277,487)
($400,000)
($500,000) ($440,462)

($600,000) ($581,145)
($581,145)
($700,000)
h Flows

Expected Cash Flow ($m)

Cumulative Cash Flow ($m)