JV Cashflow Model — Sensitivity 1
Gross structure · A = Outflows · B = Inflows · C = Debt service · Jun-26 to Sep-32
⚠ Sensitivity 1 — 5 changes vs Version 1
[1] NG Structured Debt ₹250 Cr · REMOVED  |  [2] Tpt1 Mezz 1 ₹100 Cr · REMOVED  |  [3] Tpt1 Mezz 2 ₹150 Cr · REMOVED  |  [4] Serv Resi: all 2,00,000 sf sold · 267 units @ 16/qtr (was 133 units @ 8/qtr)  |  [5] SR LRD revised to ₹60.75 Cr (was ₹211.1 Cr) · revised NOI ₹12.15 Cr/yr (was ₹42.22 Cr/yr)
Amber rows = changed vs v1 · Total debt removed = ₹500 Cr · Net inflow change ≈ −₹550 Cr
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Section 1 — Base cashflow · NG + AAR · UNCHANGED
Identical to v1 · No new debt · Cohort RRE · PEL compounding waterfall · shown for reference
NG+AARCohort RREUnchanged vs v1
Section 1 — Base · ₹ Cr · quarterly · gross structure · UNCHANGED
NG+AARCohort RRENo new debt
▶A — Outflows · NG + AAR
▶A1 · Land + enabling + PFSI/TDR + approvals
▶A2 · COC — S-curve phased
▶A3 · Approvals + admin + marketing + brokerage
▶B — Inflows · NG + AAR (GROSS)
▶B1 · Investor balances
▶B2 · Hospital (Apollo) — ₹596 Cr
▶B3 · NG RRE — 16 cohorts · 48 units/qtr
▶B4 · AAR LRD · ₹639.5 Cr · Jan-30
▶C — Debt service · interest + principal split
▶C1 · AAR LRD @ 9% · ₹639.5 Cr · EMI ₹19.83/qtr
▶C2 · PEL existing debt · compounding FIFO
▶Debt outstanding balances
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Section 2 — NG + AAR with interventions · SENSITIVITY [Change 1]
NG Structured Debt ₹250 Cr REMOVED · AAR debt/CFTL retained · CRE sales retained · amber = changed
S1 baseNG struct REMOVED ★Amber = changed
Section 2 — Interventions (Sensitivity 1) · ₹ Cr · quarterly
S1 baseNG struct REMOVEDAmber = changed vs v1
▶A — Non-debt outflows (same as Section 1)
▶B — Inflows · Section 1 + interventions
▶B1–B4 · Section 1 inflows (unchanged)
▶B5 · Interventions — SENSITIVITY [NG struct REMOVED ★]
▶C — Debt service · 6 loans (NG struct removed)
▶C1 · AAR LRD @ 9%
▶C2 · 6 loans · compounding FIFO (NG struct removed)
▶Debt outstanding balances · 6 loans
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Section 3 — Full JV · NG + AAR + Hotel NG + Tpt1 · ALL 5 CHANGES
Mezz1+2 removed · NG struct removed · All 267 SR units sold · SR LRD ₹60.75 Cr · amber = changed · 9-loan waterfall
NG+AARTpt1All 5 changes ★Amber = changed
Section 3 — Full JV (Sensitivity 1) · ₹ Cr · Jun-26 to Sep-32
NG+AARTpt15 changes appliedAmber = changed
▶A — Outflows · NG+AAR+Hotel NG+Tpt1
▶A1 · NG + AAR + Hotel NG (unchanged)
▶A2 · Tpt1 COC + buyer IRR + brand fees [SR buyer IRR REVISED ★]
▶B — Inflows · ALL GROSS
▶B1–B5 · NG+AAR inflows [NG struct REMOVED ★]
▶B · Tpt1 capital [Mezz1 + Mezz2 REMOVED ★]
▶B · Tpt1 sales [SR: 267 units @ 16/qtr REVISED ★]
▶B · Tpt1 operating revenues GROSS [SR NOI REVISED ★]
▶B · Tpt1 LRD lump sums [SR LRD ₹60.75 Cr REVISED ★]
▶C — Debt service · 9 loans [Mezz1+2 removed]
▶C1 · AAR LRD @ 9%
▶C2 · Tpt1 LRD amortisations [SR LRD REVISED ★]
▶C3 · 9 project loans · compounding FIFO [Mezz1+2 removed]
▶Debt outstanding balances · all 9 loans + LRD