Download L: HAM Annuity Schedule (.xlsx)
What it does
Hybrid Annuity Model payments: construction support in milestone instalments, completion cost repaid in half-yearly annuities with interest on the reducing balance, O&M payments, all indexed by a Price Index Multiple. Includes a simple developer IRR.
Who it is for
HAM concessionaires, lenders and analysts.
How to use it
- Go to 'Inputs'. Type the Bid Project Cost (₹ crore), bid base date, appointed date, construction period, the inflation inputs for the Price Index Multiple (WPI and CPI with their weights), the interest rate on the annuity balance (reference rate + spread), the number of annuities and the O&M bid amount.
- In the instalments table on 'Inputs', type each construction-support instalment as a % of Bid Project Cost and the date you expect to reach that milestone. The sample uses five instalments of 8% each.
- Optional developer view: type your EPC cost and the % of O&M payments you expect to spend on actual O&M.
- Open 'Annuity Schedule' for the 30 half-yearly payments: principal annuity, interest, O&M payment and total.
- Open 'Cash Flow' for the half-yearly cash flows and the project IRR. Check that the checks on 'Cash Flow' read OK.
Tabs in the file
| Tab | What it holds |
|---|---|
| Inputs | Bid Project Cost, dates, inflation, interest, O&M and the construction-support instalments. |
| Annuity Schedule | Half-yearly annuity, interest and O&M payments after COD. |
| Cash Flow | Half-yearly cash flows from appointed date, developer view, project IRR and checks. |
Learn the topic
For computation and reconciliation assistance only; not a substitute for formal statutory audit or legal tax advice. All sample data is illustrative and made up. Rates, limits and rules must be checked against current law and your own agreements before use. No tax saving, audit outcome or compliance result is promised.