1

Construction Finance Management Reg. No.

ASSIGNMENT ON

Construction Finance Management NCP 29

ASSIGNMENT

Construction Finance Management Reg. No.

NICMAR / CO E OFFICE

1.

Course No. 2.

PGPM "2 Course Tit#e. !

Construction Finance Management 3. 4. 5. Assignment No. ate o$ is%atc& 'ast (ate o$ recei%t. ! ! ! 2

o$ Assignment at CO E

ASSIGNMENT

Construction Finance Management Reg. No.

An offer has been given by a Charitab e Tr!st to "eve o# an" b!i " a fa$i ity on a 1%&%%% s'.(. of # ot in a #ri(e o$a ity of )!ne *here 5%%% s'.(. of area *i be !se" by the tr!st for ho!sing& hea th fa$i ities for senior $iti+ens . 5%%% s'.(. *i be given free to "eve o#er as a $ost of "eve o#(ent. Cost of an" is ,s. 1%&%%%- s'.(. S#e$ifi$ations of f ooring. 1%/ Granite 4%/ 0ota stone 5%/ Mosai$ $e(ent ti es ,.C.C 1ra(e" str!$t!re A !(ini!( s i"ing *in"o*s 2 C ass A. ,est S#e$ifi$ations as !se" for C ass A. $onstr!$tions. 3is$!ss the finan$ia viabi ity of the #ro4e$t an" the finan$ia # anning of the #ro4e$t. 3eve o#er *o! " i5e to have (ini(!( 16/ of net #rofit on his invest(ent. 3eve o#er $an invest on y ,s. 1% a5hs as his o*n f!n"s an" $an raise not (ore than ,s. 5% a5hs as ban5 oan.

A)STRACT*

Construction Finance Management Reg. No.

This )ro4e$t ,e#ort is abo!t (anaging finan$e in "eve o#ing an" b!i "ing a $onstr!$tion fa$i ity in a an" of area 1%&%%% s' (. Then above (entione" $onstr!$tion #ro4e$t is "ivi"e" in t*o no. of stages.7

3eve o#ing fa$i ity on a 5&%%% s'.(. for a $haritab e tr!st $o(#rising of ho!sing an" hea th fa$i ities.

3eve o#ing 5&%%% s'.(. of area as a $ost of "eve o#(ent

. S!$$ee"ing re#ort high ights the finan$ia viabi ity of the $onstr!$tion #ro4e$t. E8tra$ting #rofit fro( the #ro4e$t thro!gh finan$ia # anning is the (ain feat!re of this #ro4e$t re#ort.

INTRO +CTION*

Construction Finance Management Reg. No.

Constr!$tion )ro4e$t is a (ission& !n"erta5en to $reate a !ni'!e fa$i ity& #ro"!$t or servi$e *ithin the s#e$ifie" s$o#e& '!a ity& ti(e an" $osts. )ro4e$t $an a so be "efine" as organisation an" #erfor(an$e of reso!r$es s!$h as (en& (oney& (a$hinery& (ateria s& s#a$e an" te$hno ogy into ogi$a se'!en$e of a$tivities 1inan$e (anage(ent in a $onstr!$tion #ro4e$t is (ain y re ate" *ith # anning vario!s a$tivities in the #ro4e$t right fro( the start to the en" of the #ro4e$t. A "eve o#er (!st be f! y a*are abo!t a the 5ey finan$ia as#e$ts of $onstr!$tion.. 9e (!st be ab e to $ontro finan$ia f o*s in an or"er y (anner for rea#ing the res! ts in for( of #rofits..

)rofit fro( the #ro4e$t $an be harveste" by $onsi"ering& i(# e(enting an" fo o*ing the #oints state" as !n"er.7

,e"!$ing the $ost of $onstr!$tion.

Mini(ising any 5in" of *astage *hether in ter( of (ateria or in the for( of #eo# e ti(e.

) anning the a$tivities #rior they a$t!a y start at the site.

Construction Finance Management Reg. No.

S$he"! ing tas5s.

) anning an" $ontro ing the #ro4e$t.

Arranging fiana$es at right ti(e *hen re'!ires.

C ose y (onitoring the e8#enses of the #ro4e$t.

A tho!gh the (ain ai( of a "eve o#er is to earn #rofit fro( the #ro4e$t by it sho! " be re(e(bere" that #rofit sho! " not be earne" at the $ost of '!a ity& "!rabi ity an" aestheti$s va !es of $onstr!$tion.

FIANCIA' ,IA)I'IT- OF PRO.ECT

Construction Finance Management Reg. No.

Most $onstr!$tion #ro4e$ts start *ith a nee" to have a ne* fa$i ity ong before "esigners start "esigns an" "ra*ing of the #ro4e$ts an" $ertain y before fie " $onstr!$tion *or5 $an $o((en$e. E e(ents of this #hase in$ !"e.

7 Con$e#t!a ana ysis. 7 Te$hni$a an" feasibi ity st!"ies an" 7 Environ(enta i(#a$t re#orts.

9ere the #ro4e$t is "ivi"e" in t*o stages first "eve o#ing < b!i "ing fa$i ity for a $haritab e tr!st an" !sing 5&%%% s'. ( area of an" free as a $ost of #ro"!$tion. As the "eve o#er has to earn #rofit by investing in the an" of 5&%%% s'. ( area the best invest(ent feasib e is by b!i "ing a ho!sing so$iety. As "eve o#er $an invest on y ,s 1% a5hs fro( his o*n f!n" an" oan of (a8i(!( ,s 5% a5hs $an (e ta5en fro( ban5 there is a finan$ia $onstrain in "eve o#ing the above (entione" $onstr!$tion #ro4e$t.

Construction Finance Management Reg. No.

So 5ee#ing in (in" the finan$ia $onstrain $onstr!$ting& ho!sing b!i "ing in on y ha f of the avai ab e an" i.e. 25%% s'. ( of an" is the (ost s!ite" e$ono(i$a o#tion. As the an" is o$ate" at #ri(e o$ation of )!ne& so f at of the #!r#ose" resi"entia b!i "ing $an be se at higher #ri$es earning a goo" #rofit (argin for the "eve o#er. The resi"entia b!i "ing *i be three storey b!i "ing to be b!i t on a s#a$e on an area of 5%% s'.( = 5%%s'.(. Gro!n" f oor of the b!i "ing *i be (eant for t*o *hee er an" fo!r *hee er #ar5ing.

The )ro#ose" resi"entia b!i "ing *i $o(#rise of.7 S.No. ITEMS 1. 3 >90 1 ats 2. 2 >90 1 ats 3. 4. 5. :. ;. >a $ony ?obby stair$ase )ar5ing ot G!ar" roo( /ANTIT3 & one on ea$h f oor : & t*o on ea$h f oor 3& one for ea$h f oor 3& one for ea$h f oor 77777777777 At gro!n" eve 1 at gro!n" eve a"4a$ent to entran$e gate

A 3 >90 f ats *i be front fa$ing an" in5e" *ith the other t*o no. 2 >90 f at via. a obby. >a $ony *i be #rovi"e" at a three no. 3 >90 f ats. 1 ats

Construction Finance Management Reg. No.

*i be $onstr!$te" an" then *i be f! y f!rnishe". 1! y f!rnishe" f ats *i then be rea"y for se ing to the $ost!(ers *ith rea"y to (ove o#tion

Conc#usion* ! As f ats to be $onstr!$te" are s#a$io!s& #ar5ing fa$i ities a ong *ith se$!rity is a so been #rovi"e" so f at *i going to attra$t the #otentia b!yers easi y. )osh o$ation *i a so a"" to the a(o!nt on *hi$h f ats $an be se . So "eve o#ing a resi"entia b!i "ing on a free of $ost an" an" se ing the f ats of the b!i "ing is a s!re sort ass!ran$e of #rofit. So this invest(ent on this $onstr!$tion #ro4e$t is a tota y *in 2 *in sit!ation for the "eve o#er an" #ositive y #ro(ises the #rofit.

PRO.ECT SCOPE

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Construction Finance Management Reg. No.

As it is a 9o!sing #ro4e$t the s#e$ifi$ations in genera for the resi"entia "*e ings *i be as fo o*s.

Str!$t!re. ,.C.C. 1ra(e" str!$t!re. As #er "esign of Ar$hite$t an" Engineer.

,einfor$e(ent. The reinfor$e(ent !se" *i be Anti Corrosive TMT Stee .

Masonry. A Masonry *i be of Con$rete > o$5 an" interna #artition *ith first $ ass *ire $!t bri$5s.

) astering. Interna -E8terna # aster of *a s *i be e8e$!te" *ith ne$essary a"(i8t!res a""e" to the Ce(ent Mortar in or"er to (ini(i+e shrin5age $ra$5s. Interna *a s *i be neer! finishe" an" E8terna *a s *i be S#onge finishe".

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Construction Finance Management Reg. No.

1 ooring. Granite on 1 oor in ?iving ,oo( an" re(aining area Mosai$ $e(ent ti es an" 0ota stone in >athroo(s an" 0it$hen area.

1ra(e*or5. 3oor fra(es of Sa *oo"& Main "oor of Tea5 Aoo" *ith 1ren$h #o ish& Interna 3oors Marine 1 !sh 3oor *ith Oi #aint.

Ain"o*s . A !(ini!( s i"ing Ain"o*s 3 tra$5 ano"i+e"

)ainting an" )o ishing. Interna Aa s *i be #ainte" *ith Oi >o!n" 3iste(#er& E8terna Aa s *ith A#e8 Aeather Shie " #aint.

0it$hen. Granite # atfor( *ith Stain ess stee sin5 *ith "rain boar" an" Cera(i$ ti es on "a"o !# to height of %.:( above # atfor(.

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Construction Finance Management Reg. No.

) !(bing. A # !(bing in the >athroo(s - Toi ets *i be $on$ea e" an" C)BC #i#es *i be !se". A E8terna #i#ing an" SA, #i#es !se" *i be of 1ino e8.

Sanitary *are. A Sanitary *are *i be of Stan"ar" range of 9in" *are or e'!iva ent an" fittings of Cag!ar stan"ar" range.

Aater Storage. Dn"ergro!n" s!(# an" overhea" tan5.

E e$tri$a s. A *ires !se" *i be 1ino e8 or e'!iva ent *ith fi8t!res of Crabtree or e'!iva ent.

TEC0NICA' ST+ IES

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Construction Finance Management Reg. No.

a.1

Cost o$ construction

No* a "ay the rates of a >asi$ Materia s !se" in Constr!$tion is in$reasing at a high #a$e& an" hen$e the $ost of Constr!$tion is a *ays on the rise. Sin$e a (ateria s !se" for $onstr!$tion are in high "e(an" an" s!## y is $orres#on"ing y o* there is a *ays a #oint *here (ateria is #ri$e" higher by the retai er in or"er to in$rease his (argin. Therefore in the # anning stage itse f the '!antities have to be *or5e" o!t an" (ateria s have to be or"ere" ear y in or"er to avoi" the oss by s#en"ing higher a(o!nts at vario!s stage of Constr!$tion. 9en$e the 1inan$e Manager nee"s to foresee s!$h $ir$!(stan$es before the $o((en$e(ent of the #ro4e$t& in or"er to a$hieve the #ro4e$te" )rofit Margin set !# at the initia stage or at east try to be as $ ose as #ossib e.

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Construction Finance Management Reg. No.

Ca $! ating the $ost of $onstr!$tion is a so he #f! in the finan$ia (anage(ent an" # anning as it gives the i"ea that ho* (!$h finan$e *i #robab y *i re'!ire" for "eve o#ing the #ro4e$t. >rea57D# of Cost of Constr!$tion is iste" in the tab e given be o*.7 S. NO. 1. 2. 3. 4. 5. :. ;. 6. @. 1%. 11. ITEMS ,.C.C. ,einfor$e(ent Masonry ) astering 1 ooring 1ra(e*or5 )ainting an" )o ishing ) !(bing Sanitary *are Aater Storage E e$tri$a s Gran( Tota# TOTA' COST 2Rs.1 2&%%%&%%% 1&%%%&%%% 6%&%%%% 1&%%%&%%% 1&%%%&%%% 3%&%%%% 3%&%%%% 2%&%%%% 3%&%%%% 3%&%%%% 6%&%%%% 345554555

6.1 Man%o7er re8uirements/costs

1or the e8e$!tion of s!$h a #ro4e$t& the Man#o*er re'!ire(ent is very high an" hen$e the *ho e #ro4e$t nee"s to be ana yse" an" #hase" o!t in or"er to obtain (a8i(!( o!t#!t fro( the abo!r an" # anning the area of *or5

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Construction Finance Management Reg. No.

*itho!t (!$h hin"ran$e thro!gho!t the site& an" easy f o* of abo!r an" (ateria sta$5ing a$$essib e in or"er to re"!$e the *or5 for$e an" in t!rn (a5e the #ro4e$t $ost effe$tive.

A so the $ost of abo!r for$e i.e. both s5i e" an" !ns5i e" has in$rease" "rasti$a y sin$e fe* years no*. The (ain "ra*ba$5 for the #ro4e$ts *hi$h s!ffer on a$$o!nt of "e ay et$. is "!e to a$5 of Man#o*er *hi$h is in a$!te shortage. 9en$e the # anning nee"s to be "one a$$or"ing y.

Man#o*er ,e'!ire(ent 1or ,.C.C < Str!$t!ra Aor5s No. 1%715 671% 671% 576 2%725 TIME COST

S. NO. MANPO9ER 1. 2. 3. 4. 5. Mason Car#enters )ainters > a$5s(iths Ma+"oors Gran( Tota#

PERIO 4 (onths 3&5%&%%% 3 (onths 2&5%&%%% 2.5 (onths 2&%%&%%% 2.5 (onths 2&%%&%%% 5 (onths 5&%%&%%% "4:554555

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Construction Finance Management Reg. No.

Man#o*er ,e'!ire(ent 1or 1inishing& ) !(bing < E e$tri$a Aor5 MANPO9ER Mason E e$tri$ians ) !(bers Gran( Tota# TIME PERIO COST 4 (onths 2&5%&%%% 1.5 (onths 1&5%&%%% 1.5 (onths 1&%%&%%% :4554555

S. NO. 1. 2. 3.

c.1

esign a(e8uac; an( a#ternati<es

The #ro4e$t 3esign is the (ain $riteria on *hi$h the *ho e b!"get as *e as the en" #rofit "e#en"s. So the "esign of the str!$t!re a *ays nee"s to be han" e" at the highest #riority an" eno!gh ti(e given to the "esigner to (a5e !se of a the ob4e$tives to (a8i(i+e the #rofit by !sing as (!$h of the )er(issib e 1.A.,. #ossib e. A so $are nee"s to be ta5en "!ring "esigning that the *ho e #ro4e$t sho! " be very i(#ressive an" sho! " be ab e to s!it the $on"itions $o(fortab y in or"er to fin" b!yers very easi y in ter(s of oo5s as *e as f!n"s both an" a#art(ents so "esigne" sho! " s!it the re'!ire(ents of the b!yer.

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Construction Finance Management Reg. No.

The 3esign sho! " be in s!$h a (anner that the b!yers $an a so re ate an" be ab e to $o(fortab y a ter a fe* things in s!$h a *ay so as to not "ist!rb the str!$t!re or its e evations et$.

(.1 9or= sc&e(u#e on 8uarter#; 6asis Aor5ing o!t the Tas5 < Ti(e s$he"! e of a #ro4e$t in #re i(inary stages is (!st for the a$$!rate finan$ia # anning. Main (otive of a *or5 s$he"! e is to brea5 "o*n the $onstr!$tion a$tivities to be $arrie" o!t for a #ro4e$t in the for( of vario!s tas5s& stating the s#e$ifi$ ti(e to be $ons!(e" for the # anne" tas5s.

1or this #ro4e$t a tota ti(e #erio" of 2 years has been $onsi"ere" an" a the $onstr!$tion a$tivities *i be $arrie" o!t in this ten!re. )ro4e$t start "ate is fi8e" on 15-%6-11 an" $o((issioning of #ro4e$t is s$he"! e" on 15-%6-13. So )ro4e$t a$tivities is "ivi"e" in to fo!r '!arter y #hases na(e y )hase7I&

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Construction Finance Management Reg. No.

)hase7II& )hase7III < )hase7IB& ea$h #hase $overs a #erio" of 6 to 4 (onths "e#en"ing on the a$tivities $arrie" in the res#e$tive #hase.

>rea57D# of Aor5 S$he"! e is iste" in the tab e given be o*.7 P0ASE!I S. NO. ACTI,ITIES START TIME 1. ,.C.C. 1o!n"ation 15-%6-11 2. ,einfor$e(ent Aor5 11-11-11 3. Masonry Aor5 21-%1-12 4. ) astering %1-%3-12 Tota# Time E#a%se( FINIS0 TIME 1%-11-11 2%-%1-12 26-%2-12 15-4-12 3 mont&s

P0ASE!II S. NO. ACTI,ITIES START TIME 1. 1 ooring 15-%4-12 2. 1ra(e*or5 %1-%6-12 3. )ainting an" 1:-1%-12 )o ishing Tota# Time E#a%se(

FINIS0 TIME 31-%;-12 15-1%-12 15-12-12 3 mont&s

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Construction Finance Management Reg. No.

P0ASE!III S. NO. ACTI,ITIES START TIME 1. ) !(bing 1:-12-12 2. Sanitary *are 1:-%2-13 Tota# Time E#a%se(

FINIS0 TIME 15-%2-13 2%-%4-13 > mont&s

P0ASE!I, S. NO. ACTI,ITIES START TIME 1. Aater Storage 21-%4-13 2. E e$tri$a s 21-%:-13 Tota# Time E#a%se(

FINIS0 TIME 2%-%:-13 15-%6-13 > mont&s

? Note* A Tas5 "!rations are tentative an" $an be $hange" as #er $onstr!$tion # anning an" site $on"itions.

FINANCIA' AN ECONOMICS E,A'+ATION* 1inan$ia (anage(ent is (ain y $on$erne" *ith (anage(ent of f!n"s i.e. (anage(ent of (onetary iss!es. There are t*o basi$ as#e$ts of finan$ia (anage(ent vi+ #ro$!re(ent of f!n"s an" an effe$tive !se of these f!n"s.

a.1 Tota# In<estments cost

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Construction Finance Management Reg. No.

)ri(ary ste# in finan$ia # anning of a #ro4e$t is to esti(ate tota invest(ent $ost invo ve" in the "eve o#(ent of #ro4e$t. Invest(ent $ost of #ro4e$t is the s!( of fo o*ing $osts state" as !n"er.7

?an" Cost 7 It invo ves the $ost re'!ire" to a$'!ire the an" on *hi$h $onstr!$tion of ho!sing $o ony is to be $arrie" o!t.

,a* Materia Cost 7 It $o(#rises $ost of ra* (ateria re'!ire" for

$onstr!$tion i5e $e(ent& TMT bars for reinfor$e(ent& a !(in!( < *oo"en fra(es& ti es& e e$tri$s& sanitary *ares et$.

Constr!$tion Cost 7 A

(oney s#en" for $arrying $onstr!$tion

a$tivities a"" on to for( this $ost.

Man#o*er Cost 7 Cost of re$r!iting s5i e" an" non7s5i e"

e(# oyees $ontrib!te to this ty#e of $ost.

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Construction Finance Management Reg. No.

S. NO. 1. 2. 3. 4.

COST )REA@!+P ?an" Cost ,a* Materia Cost Constr!$tion Cost Man )o*er Cost Gran( Tota#

REMAR@S Not A## i$ab e As ?an" Aas 1ree

IN,O',E COST 2Rs.1 % 6&%%%&%%% 2&%%%&%%% 2&%%%&%%% "245554555

9en$e the tota invest(ent for this 9o!sing Co ony Constr!$tion )ro4e$t is one $rore an" t*enty a5hs i.e. 12&%%%&%%%.

6.1 ProAect Financing Pro%ose( Ca%ita# Structure / 'oan re8uirements

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Construction Finance Management Reg. No.

One of the (a4or #rob e(s fa$ing any b!siness enter#rise is that of obtaining finan$e an" as$ertaining the $ost of #ro4e$t. 1inan$e $an be obtaine" fro( "ifferent so!r$es an" sin$e finan$e arrange" fro( "ifferent so!r$es have "ifferent $hara$teristi$s in ter(s of ris5& $ost an" $ontro . So!r$es of finan$e "e#en" !#on the b!siness str!$t!re. There are severa so!r$es of finan$e avai ab e for a $onstr!$tion #ro4e$t i5e.7

?ong Ter( 1inan$e.

Mi"" e Ter( 1inan$e

Short Ter( 1inan$e.

As in this Constr!$tion )ro4e$t there are so(e restri$tions in the invest(ent i5e.7 3eve o#er $an invest on y ,s 1% a5hs as his o*n f!n". On y ,s 5% a5hs $an be raise as ban5 oan.

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Construction Finance Management Reg. No.

So the rest finan$e for #ro4e$t i.e. ,s :% a5hs is to be (anage" - #ro$!re. As the #ro4e$t "!ration is of 2 years an" "eve o#er see5s ear y an" '!i$5 #rofit Mi"" e ter( an" Short Ter( 1inan$e see(s to be the feasib e o#tions. Ty#es of finan$e $onsi"ere" for the Constr!$tion #ro4e$t are state" as !n"er.7 Mi"" e Ter( 1inan$e

?oans fro( >an5s 7 )ri(ary ro e of ban5s is to $ater to the

finan$e re'!ire(ent of a #ro4e$t. Ds!a y ban5 $harges 15 / of interest rate in finan$ing s!$h ty#e of $onstr!$tion #ro4e$t. So

a(o!nt of ,s. 5% a5hs *i be (anage" fro( the ban5 in the for( of oan for a #erio" of 2 years.

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Construction Finance Management Reg. No.

?ease 1inan$ing 2 ?easing is a genera $ontra$t bet*een the

o*ner an" !ser of the asset over a s#e$ifie" #erio" of ti(e. The asset is #!r$hase" initia y by the essor an" thereafter ease" to the ers$o $o(#any. As for this #ro4e$t tota avai ab e an" is 5%%% s' ( an" on y 25%% s' ( of an" has been !se" to "eve o# the #ro4e$t the re(aining an" of 25%% s' ( $an be !se as a ease ite( an" finan$e $an be (anage" fro( that. So after giving the an" on ease for 5 years ,s 4% a5hs $an be generate".

Short Ter( 1inan$e

A"van$e 1ro( C!sto(ers 2 As this Constr!$tion )ro4e$t

$o(#rises a ho!sing $o ony in *hi$h f ats are to be $onstr!$te"

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Construction Finance Management Reg. No.

for se ing to the $ost!(er& (oney $an be generate" fro( the #otentia $ost!(ers in the for( of a"van$e "o*n #ay(ent for boo5ing the f ats. 9en$e re(aining f!n" for the )ro4e$t i.e. ,s 2% a5hs $an be generate".

Interest Ca#cu#ations As on y ,s 5% a5hs is been ta5en oan fro( ban5s on 15 / of interest for 5 years so on y this a(o!nt is s!b4e$te" to the interest

Tota a(o!nt

7 ,s. 5.%%%&%%%

,ate of interest 7 15 / Eears 72

Tota F interest a(o!nt to be #ai" G H5&%%%&%%% 8 15 8 2 I - 1%% G 15&%%&%%% So tota a(o!nt #ai" to the ban5 as interest is ,s 15 a5hs

c.1 Cas& F#o7 Management

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Construction Finance Management Reg. No.

Cash 1 o* (anage(ent basi$a y "ea s *ith inf o* an" o!tf o* of $ash "!ring a #arti$! ar ti(e. J!arter y >rea5 D# of Cash O!tf o*
S. NO. 1. 2. 3. 4. 5. :. ;. P0ASES )hase I )hase II )hase III )hase IB C!(! ative Constr!$tion $ost for a 4 #hases C!(! ative Man )o*er $ost for a 4 #hases Interest a(o!nt #ayab e to ban5 Gran( Tota# Amount 4&6%%&%%% 1&:%%&%%% 5&%%&%%% 1&1%%&%%% 245554555 245554555 "4:554555 "B4:554555 Sin= 1o!n"ations Aor5 1 ooring < 1ra(e *or5 )i#e 1itting Aor5 E e$tri$a < 1inishing *or5

S. NO. 1. 2. 3. 4. 5. :. ;.

J!arter y >rea5 D# of Cash Inf o*

P0ASES )hase I )hase II )hase III )hase IB >an5 ?oan Cost!(er a"van$e 1 at se ing a(o!nt

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Construction Finance Management Reg. No.

Conc#usion As the tota invest(ent for this Constr!$tion )ro4e$t is ,s 1 $rore 35 a5hs an" by se ing the f ats a(o!nt of ,s 1$rore 16 a5hs has been earne" so this #ro4e$t is f! y finan$ia y feasib e an" have #otentia to rea# high #rofit for the "eve o#er. Pro$it ca#cu#ation

A. Tota $ost of #ro4e$t G ,s 13&5%%&%%%

Se ing #ri$e of 3 noLs of 3 >90 f ats G 3&%%%&%%% 8 3 G @&%%%&%%%.

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Construction Finance Management Reg. No.

II.

Se ing #ri$e of : noLs of 2 >90 f ats G 1&5%%&%%% 8 : G @&%%%&%%%

- A = (4,500,000 x 100)/

References: 1) Co r!e "ateria#, N$C"A%