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cg';"rLx?
efu – !
kl/ro
!=! ljifo k|j]z
sDkgL P]g adf]lhd g]kfn ;/sf/sf] k"0f{ :jfldTjdf /xg] u/L la=;+=
@)!& ;fndf æb l6Da/ skf]{/];g ckm g]kfn lnld6]8Æ -l6=l;=Pg=_
sf] :yfkgf ePsf] xf] . cfˆgf] :yfkgf eGbf klxn] @)!! ;fn b]lv g}
l6=l;=Pg=n] kl/of]hgfsf] ?kdf ;d]t sfd u/]sf] lyof] . jg
Joj:yfkgaf6 pTkfbg x'g] sf7 bfp/fsf] Jojl:yt ?kdf s6fg ;+sng, lr/fg
u/L ;j{;fwf/0f hgtfnfO{ cfk"lt{ ug]{ o;sf] d'Vo sfo{ xf] / o;
sfo{df ljutsf] %) jif{ eGbf nfdf] cg'ej o; ;+:yfsf] /x]sf] 5 . nfdf]
cg'ej /x]sf sd{rf/L, :yflgo:t/ b]lv s]Gb| ;Ddsf] ;f+u7lgs ;+/rgf /
sfo{ ;+rfngsf] nflu ef}lts k"jf{wf/ / ;|f]t ;fwg, ;+:yfk|ltsf] gfu/Ls
ljZjf;sf ;fy} g]kfn ;/sf/ jg tyf e"–;+/If0f dGqfno, jg laefu,
cy{ dGqfno, pBf]u dGqfno, jfl0fHo tyf cfk"lt{ dGqfno, g]kfn
cf}Bf]lus ljsf; skf]{/];g h:tf lgsfox? z]o/ xf]N8/sf] ?kdf /xg' /
clws[t k"FhL !) s/f]8 /x]sf] / æsÆ >]0fLsf] ;+:yfsf] ?kdf
sfo{/t /xg' skf]{/]zgsf] ;jn kIf xf] .
!=%=! b'/b[li6
lbuf] jg Aoj:yfkgsf] dfWodaf6 cfk"lt{ Aoj:yf ;'b[9 u/L ;Ifd /
cfTdlge{/ ;+:yfsf] ?kdf ljsf; ug]{ .
!=%=@ nIo
lbuf] jg Aoj:yfkgdf ;xof]u k'Ug] u/L jg Joj:yfkgaf6 k|fKt x'g] sf7,
bfp/f / sf7hGo jg k}bfjf/sf] Jojl:yt ;+sng, ;b'kof]u / laqmL
lat/0fåf/f sf7 bfp/fsf] ;/n, ;xh / e/kbf]{ cfk"lt{sf] Joj:yf ldnfpg] .
!=%=# p2]Zo
b l6Da/ skf]{/;g ckm g]kfn ln=sf p2]Zox? lgDg /x]sf 5g\ M
-s_ jg Joj:yfkgaf6 k|fKt x'g] sf7, bfp/f, s6fg÷;+sng u/L uf]lnof
jNnf÷jNnL / lr/fg sf7 kf/bzL{ Pj+ k|lt:kwf{Tds tj/n]
;j{;fwf/0f, ;+3 ;+:yf, pBf]u, Joj;fo, ;/sf/L
of]hgf÷kl/of]hgfnfO{ ;xh / ;/n cfk"lt{sf] Joj:yf ldnfpg] .
-v_ g]kfn ;/sf/sf tkm{af6 ;j{;fwf/0f, ljsf; lgdf{0f, wfld{s Pj+
;fdflhs If]qnfO{ pknAw u/fpg' kg]{ sf7, bfp/fsf] ;xh / ;/n
cfk"lt{ ug]{ .
-u_ sf7, bfp/fsf] vktnfO{ Go"gug{ sf7sf] a9L l6sfp x'g]u/L
;b'kof]u ug{ / sf7hGo kbfy{af6 j}slNks phf{ -uf]n, la|s]]6_
sf] k|j4{g ug]{ .
-3_ sf7hGo jgk}bfjf/sf] pkof]udf ljljlws/0f u/L d"No clea[l4 ;d]t
ub}{ cfTdlge{/tf a9fpg] .
-ª_ sf7, bfp/sf] jt{dfg tyf bL3{sflng dfu / cfk"lt{ ;DaGwdf
cg';Gwfg ug]{ / sf7, bfp/fsf] ljsNksf] vf]hL ug]{ .
-r_ sf7, bfp/fdf cfwfl/t pBf]ux? ;+rfng ug]{ .
-5_ sa'lnotL jg lnO{ a[Iff/f]k0f ug]{ .
-h_ lghL jg, ;+/lIft jg, ;fd'bflos jgaf6 ;d]t cfjZostf cg';f/ sf7,
bfp/f vl/b ug]{ .
!=%=$ z]o/ ;+/rgf
k|aGw kq cg';f/ skf]{/];gsf] z]o/ lgDg adf]lhd af+8kmf+8 ePsf]
M
z]o/wgLx?sf] laa/0f z]o/ ;+Vof
-s_ cy{ dGqfno %#,&@$
-v_ pBf]u dGqfno !%,&*(
-u_ jg tyf e"–;+/If0f dGqfno &,*(%
-3_ jfl0fHo tyf cfk"lt{ dGqfno $%,*@(
-ª_ pBf]u laefu !%,&*(
-r_ jg laefu !%,&()
-5_ g]kfn cf}Bf]lus lasf; skf]{/]zg ln= ^,)))
——————
hDdf M– !,^),*!^
!=%=% skf]{/];gsf] ;+u7gfTds :j?kM
;~rfns
;~rfns ;ldltsf]
dxf–k|
aGws
cfGtl/s n]vf lk=P= zfvf
gfoj dxf–k|
k|zf;g ljefu cy{ ljefu cfk"lt{ tyf of]hgf tyf cg'udg
l;= cj:yf
g+ ljj/0f kSsL sRrL hDdf
=
! aa/dxn ! @ #
@ afns'df/L ! @ #
# wgu9L zfvf sfof{no ! $ %
cGtu{t
$ kyn}of zfvf sfof{no – @ @
cGtu{t
% e/tk'/ zfvf sfof{no cGtu{t – $ $
^ jb{3f6 zfvf sfof{no @ # %
cGtu{t
& laqmL l8kf] kf]v/f ! ! @
* a'6jn zfvf sfof{no cGtu{t – ! !
( x]6f}8f zfvf sfof{no & – &
cGtu{t
!) laqmL l8kf] kz'ktL – @ @
sf7df08f}++
hDDf !# @! #$
!=%=* sfo{If]q
skf]{/];gn] t/fO{, leqL dw]z tyf kxf8L lhNNf u/L
lgDg #$ lhNnfdf sfo{ u/L /x]sf] 5M–
!= Onfd @= emfkf #=df]/Ë $=;'g;/L
%= pbok'/ ^= ;Kt/L &= l;/xf *= dxf]Q/L
(= wg'iff !)=l;Gw'nL !!= ;nf{xL !
@=/f}tx6
!#= af/f !$=k;f{ !%= dsjfgk'/ !^= lrtjg
!&= tgx'+ !*=sf:sL !(= gjnk/f;L @)= ?
kGb]xL
@!= slknj:t' @@=kfNkf @#= c3f{vf+rL
@$= bfË
@%=af+s] @^= alb{of @&= ;'v]{t
@*=s}nfnL
@(= s~rgk'/ #)= 88]nw'/f #!= 8f]6L
#@= sf7df08f}
##= nlntk'/ #$= eQmk'/ .
sf7 / sf7hGo j:t'sf] dfu cg';f/ skf]{/];gn] cfk"lt{ ug{ g;s]sf] cj:yf
b]lvG5 . Jojl:yt tj/n] j:t' pTkfbg u/L dfu cg';f/ cfk"lt{ ug{ ;s]sf]
v08df skf]{/];gn] gfkmf cfh{g ug{ ;Sg] cf=j= )^^.^& b]lvsf]
laqmL tyf v'b gfkmfsf] cf+s8fn] :ki6 ub{5 . o; cltl/Qm cfˆgf]
pTkfbg;+u ;DalGwt ;]jfsf] la:tf/ tyf j:t' pTkfbgdf ljljlws/0f
Nofpg ;s] skf]{/];gsf] gfkmfdf a[l4 x'g] :ki6 x'G5 . skf]{/];gn]
ub}{ cfPsf] j:t' tyf ;]jfsf] pTkfbg / laqmLnfO{ lj:tf/ dfq ug{ ;s]df
klg cfly{s sf/f]jf/df a[l4 eO{ ;d[l4 tkm{ cu|;/ x'g ;Sg] b]lvG5 .
xfnsf] cj:yfdf tn pNn]v eP adf]lhdsf j:t' tyf ;]jfdf s]lGb|t
eO{ Jofj;flos lj:tf/ ug{ ;Sg] ;Defjgf b]lvG5 .
@=!=$ pTkfbg ug]{ j:t'÷;]jf
s= uf]lnof sf7 tyf bfp/f M
skf]{/];gn] pTkfbg ug]{ j:t' jgsf] Joj:yfkgaf6 k|fKt x'g] uf]nLof
sf7 / bfp/fsf] ;+sng ug'{ xf] . o; afx]s ;+slnt uf]nLof sf7 /
bfp/fsf] lznaGbL lnnfd k|s[ofaf6 laqmL ug]{, bfxf;+:sf/sf nflu
bfp/f cfk"lt{ ug]{, ;MdLn ;+rfng u/L sf7 lr/fg ug]{, lr/fg
ul/Psf] sf7nfO{ laleGg :yfgdf l8kf] ;+rfng u/L l8kf] dfkm{t
laqmL ljt/0f ug]{, la|s]6 pTkfbg tyf ljt/0f ug]{, kf]n l6«6d]06
ug]{ / laqmL ug]{, sf/k]G6«L ;k ;+rfng u/L ;]jf ljljlws/0f
dfkm{t ;xh / ;'ky d"Nodf ;]jf k|bfg ug]{ tTsfnsf] Jofj;flos ;
+efjgfsf kIf b]lvPsf] 5 .
v=lr/fg sf7M
skf]{/];gn] pTkfbg ug]{ csf]{ j:t' lr/fg sf7 xf] . cfkm"n]
pTkfbg u/]sf] uf]nLof sf7 u'0f:t/sf] x'g] / ;f]xL
sf7nfO{ cfˆg} ;MdLndf lr/fg ug]{ tyf lr/fg sf7sf] d"No ;d]t
u'0f:t/sf] cfwf/df lgwf{/0f ul/g] x'+bf l6=l;=Pg=af6 pTkfbg
x'g] lr/fg sf7 ;d]t cGo lgsfosf] t'ngfdf pRr u'0f:t/sf] x'g]
ub{5 .
u= uf]n÷la|s]6 M
skf]{/];gn] o;sf] p2]Zo adf]lhd bfp/fsf] vkt sd ug{sf nflu
sf7hGo ;xkbfy{af6 uf]n÷la|s]6 pTkfbg ug]{ csf]{ ;]jf xf] .
lr/fg ubf{ k|fKt x'g] e'; / cGo sfd gnfUg] v]/ uO/fv]sf] sfi7
kbfy{af6 la|s]6 pTkfbg ug{ ;lsG5 . skf]{/];gsf] cfˆg}
;MdLnaf6 pTkfbg x'g] sRrf kbfy{af6 aGg] / ahf/sf] dfu
cg';f/sf] ;fOh / rfxgf adf]lhdsf] u'0f:t/ sfod ul/g] x'+bf cGo
If]qsf] t'ngfdf u'0f:t/ /fd|f] x'g] ;xh cg'dfg ug{ ;lsG5 .
3= kf]n l6«6d]G6 M
sf7sf] k|of]unfO{ a9L l6sfp ug]{ p2]Zo adf]lhd ;+:yfsf] x]6f}
+8f l:yt l6«6d]G6 KnfG6af6 kf]n l6«6d]G6 u/L laqmL ug]{ ;
+:yfsf] Ps csf]{ ;]jf xf] . ljutsf jif{x? b]lv g} u'0f:t/ ?kdf kf]n
l6«6d]G6 ul/Psf] / o;nfO{ g} lg/Gt/tf k|bfg ubf{ cGo If]qsf]
t'ngfdf u'0f:t/ /fd|f] x'g] b]lvG5 .
ª= sf/k]G6«L ;k
skf]{/];gsf] csf]{ pTkfbg sf/k]G6«L ;k ;+rfng u/L ;]jf ljljlws/0f
dfkm{t ;xh / ;'ky d'Nodf ;]jf k|bfg ug]{ xf] . cfˆg} ;Mldndf
pTkfbg ePsf sf7 tyf v]/ hfg] -cg;fOh_ ;xpTkfbgaf6 ahf/df a9L
laqmL x'g] ;fOh / k|sf/sf] ‰ofn / 9f]sfsf] rf}sf];, kmlg{r/ /
kfs]{l6Ë pTkfbg ul/g] x'+bf cGo If]qsf] t'ngfdf u'0f:t/ /fd|f]
x'g] ck]Iff ul/Psf] 5 .
tx & 8 3 6 17
tx ^ 9 5 1 15
tx % 19 6 39 64
tx $ 10 0 20 30
tx # 3 0 0 3
tx @ 1 0 0 1
sfof{no
4 0 0 4
;xof]uL
dhb'/ 2 0 0 2
hDdf M– 58 15 68 141
jif{ hDdf
7,45,46,823/-
@)&@.)&#
@)&#.)&$ 7,82,74,174/-
8,21,87,882/-
@)&$.)&%
@)&%.)&^ 8,62,97,271/-
@)&^.)&& 9,06,12,140/-
41,19,18,290/-
efu $
ljQLo of]hgf
$=! cfjZos s'n k"+hL
o; Jofj;flos of]hgf sfof{Gjogsf nflu cf=j=)&@.&# sf] k|yd
jif{df ;+rfng k"+hL ?=&@,)),^),*@#.– cfjZos kg]{ b]lvG5 .
h;sf] km]xl/:t lgDg adf]lhd 5 M–
cfjZos s'n k"+hL
tyf
lz/f]ef/
vr{
laqmL 1,02,95,96,600 1,03,98,92,566 1,05,02,91,491 1,06,07,94,406 1,07,14,02,350
cfo
;+rfng 30,95,35,777 31,26,29,316 31,51,55,608 31,89,13,164 32,21,02,297 72,00,62,623
d'gfkmf
- - - - - 33%
IRR
Aoj;foaf - - - - - 31,56,66,872
6 cf}ift
cfDbfgL
- - - - - 44%
ARR
pTkfbg tyf ljs|L of]hgf
pTkfbg Osf cf=j=)&@. cf=j= ) cf=j=)&$.& cf=j=)& cf=j=)&^.
ug] O{ &# &#.&$ % %.&^ &&
{ j:t'sf] pTkf ljs|L pTkf ljs|L pTkf ljs|L pTkf ljs|L pTkf ljs|L
ljj/0f bg bg bg bg bg
uf]lnof sf7 So"=
700000 350000 700000 350000 700000 350000 700000 350000 700000 350000
lkm6
lr/fg sf7 So"=
227500 227500 227500 227500 227500 227500 227500 227500 227500 227500
lkm6
bfp/f r§f 650 200 650 200 650 200 650 200 650 200
bfxf;
+:sf/sf
r§f 450 450 450 450 450
nflu bfp/f
cfk"lt{
kf]n
l6«6d]G6 yfg 11000 11000 11000 11000 11000 11000 11000 11000 11000 11000
ug]{
la|s]6
pTkfbg j6f - - 50000 50000 50000 50000 50000 50000 50000 50000
ug]{
sf/k]G6«L So"= - - 16000 16000 16000 16000 16000 16000 16000 16000
OsfO ; lkm6
+rfng
-lr/fg ;d]t a/fa/
cg;fOh sf]
s6lk;, afsn ;fdfg
cflbsf] k| pTkf
of]u ;d]t bg
af6_
$=$ t'ngfTds cfly{s sf/f]jf/
cfDbfgL, ;+rfng vr{ tyf gfkmf gf]S;fgsf] ljj/0f
-cf=j=@)^&.^* b]lv @)&!.&@ ;Dd_
l; cf=j= laqmLaf6 ;+rfng vr{ ;+rfng v'b gfkmf ;+lrt gfkmf
= cfDbfgL -?=_ gfkmf gf]S;fg gf]S;fg
g -?=_ gf]S;fg -?=_ -?=_
+ -?=_
=
!= ) 8,64,91,987.03 11,19,61,292.52 (2,54,69,306.49) 13,37,221.33 (32,55,98,460.59)
^&.^ 56,27,89,108.7 7,05,17,646.05 (14,23,87,440.26) (11,02,46,655.47 (45,09,62,653.70)
@ *
9
28,82,08,074.76 16,27,760.55
)
1,99,97,471.03
= 35,98,35,835.3 36,72,21,352.90
1 53,57,01,471.29 (8,89,47,292.88) (16,86,84,882.73)
) (18,86,82,353.74
# ^*.^( 41,68,97,138.1 26,63,77,719.24 7,65,40,152.00 ) 1,07,55,602
= 7
85,36,081.65
)^(.&) 34,29,17,871.2
$ 4
= )&).&!
% )
= &!.&
@
cg'dfl
gt