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    A Detailed Project Report

    On

    HOTEL STONE HEAVEN

    SUBMITTED BY:

    Group No: 1

    Abraham Mathewkutty 05002

    Manish Changrani 05009

    Digvirbhai Sodha 05013

    Bharat Kewalramani 05018

    Sandeep Patel 05032

    Sheena Easow 05045Urvi Sonetta 05047

    Meera Thacker 05050Kunal Vaswani 05053

    SUBMITTED TO:

    Prof. Nitin G. Hiranandani

    TOLANI INSTITUTE OF MANAGEMENT STUDIES

    ADIPUR (KACHCHH)

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    I. INTRODUCTION

    About the Project

    Set-up 4 star category hotel with 45 rooms and 5 suits. Facility of Restaurant, Banquet Hall and Conference Room.

    Swimming Pool and Health Club.

    Recreation Facilities (Disco, Party Plot)

    Why Such Project Selected:

    Gandhidham and its surrounding areas have very little to offer from the tourist

    attraction point of view, it is more of industrial sector than an attraction location.However it is not that the hotels run by the holiday makers only, as is evident in

    our survey here were there is requirement of hotel room all the year round. This is

    mainly due to the continuous floating population of middle management

    executives and at times top management executive of big companies, who

    frequently visit this area mainly due to foreign exchange income being sourced

    from here by the virtue of port activities and the large special economic zone.

    On account of this type of gigantic activity it is surprising that none one of the

    corporate have set-up their own Guest House and hence large dependence is onHotel Rooms and the facility offered by the hotel flourished in spite of being no

    where near the first class of international level, hence international standard hotel

    would do extremely well here. In addition, due to the local population being from

    the upper middle class and business community, there is enormous scope for

    banqueting and wedding parties here. The discretionary income of the people in

    and around Gandhidham being very high, people here tend to spend a lot on

    luxury.

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    I. Personal Information Of Entrepreneurs

    Name : - Abraham Mathewkutty

    Address : - C-76, NU 4, Sapnanagar, GandhidhamTel Nos. : - 9824827768

    Date of Birth : - 11th October, 1984

    Educational Qualification: -

    Name : - Manish Changaani

    Address : - TRS-36, WARD 4A, ADIPUR-KUTCH

    Tel Nos. : - 9825009707

    Date of Birth : - 8th February, 1985

    Educational Qualification: -

    Degree Institute Major Subject Year P G D B M Tolani Institute of

    Management Studies

    Marketing 2007

    B Com Tolani CommerceCollege

    Advance

    Accountancy

    & Auditing

    2005

    Degree Institute Major Subject Year

    P G D B MTolani Institute of

    Management StudiesFinance 2007

    B ComTolani Commerce

    College

    Advance

    Accountancy &

    Auditing

    2005

    3

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    Name : - Digvirbhai Sodha

    Address : - NTPC complex, Surat

    Tel Nos. : - 9998420590

    Date of Birth : - 14th August, 1984

    Educational Qualification: -

    Name : - Bharat Kewalramani

    Address : - Plot no.316, Lilashah Nagar, Gandhidham

    Tel Nos. : - 9898425390

    Date of Birth : - 10th April, 1985

    Educational Qualification: -

    Name : - Sandeep Patel

    Address : - Ward 2B, Plot no. 316, Adipur- Kutch

    Tel Nos. : - 9898913418

    Degree Institute Major Subject Year P G D B M Tolani Institute of

    Management Studies

    Marketing 2007

    B Com University of Madras

    Advance

    Accountancy &

    Auditing

    2005

    Degree Institute Major Subject Year P G D B M Tolani Institute of

    Management Studies

    Marketing 2007

    B ComTolani Commerce

    College

    Advance

    Accountancy &

    Auditing

    2005

    4

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    Date of Birth : - 16th July, 1984

    Educational Qualification: -

    Name : - Sheena Easow

    Address : - 216 B, Apnanagar, Gandhidham

    Tel Nos. : - 02836 - 229340

    Date of Birth : - 29th January, 1985

    Educational Qualification: -

    Name : - Urvi Sonetta

    Address : - Plot No:- 43, Mahadevnagar; Anjar

    Tel Nos. : - 9824813347

    Date of Birth : - 16th January,1984

    Educational Qualification: -

    Degree Institute Major Subject Year P G D B M Tolani Institute of

    Management Studies

    Finance 2007

    B ComTolani Commerce

    College

    Advance

    Accountancy &

    Auditing

    2005

    Degree Institute Major Subject Year P G D B M Tolani Institute of

    Management Studies

    Finance 2007

    B Com

    Tolani Commerce

    College

    Advance

    Accountancy &Auditing

    2005

    5

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    Name : - Meera Thacker

    Address : - Plot No:-283, Sec. :- 1-A; Gandhidham

    Tel Nos. : -9879700258

    Date of Birth : - 18th August, 1985

    Educational Qualification: -

    Name : - Kunal Vaswani

    Address : - S.E.X.-55, Behind Adiser Pond, Adipur-Kutch

    Tel Nos. : - 9825235062

    Date of Birth : - 8th Nov,1985

    Educational Qualification: -

    Degree Institute Major Subject Year P G D B M Tolani Institute of

    Management Studies

    Finance 2007

    B ComTolani Commerce

    College

    Advance

    Accountancy &Auditing

    2005

    Degree Institute Major Subject Year P G D B M Tolani Institute of

    Management Studies

    Finance 2007

    B ComTolani Commerce

    College

    Advance

    Accountancy &

    Auditing

    2005

    Degree Institute Major Subject Year P G D B M Tolani Institute of

    Management Studies

    Marketing 2007

    B Com

    Tolani Commerce

    College

    Advance

    Accountancy &Auditing 2005

    6

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    Name : Dinesh Ghakkar

    Address : Plot No. 443, Lilashahnagar, Gandhidham

    Tel Nos. : 9825361830

    Date of Birth : 29th December, 1975

    Mr. Ghakkar is a leading hotelier of Gandhidham with three hotels in town. He is

    also involved in the business real estate in Gandhidham.

    Moreover majority of the promoters are management graduates with a good

    combination of marketing and finance.

    III. Present Status and Market Potential

    Basic Market Information:

    Gandhidham at present has only 5 hotels which could be categorized at the level

    not exceeding 2 to 3 Stars, they are as follows:

    Holiday Village Resort

    This property is around 7 Kms. From Gandhidham near the Kandla airport and it

    runs on the lines of a resort. It has a swimming pool, health club, indoor sports

    complex and an amusement park with one garden as well as indoor restaurant. It

    has one conference hall.

    Hotel Chandan

    This hotel is situated close to the railway station, but the area is more crowded with

    trucks and tankers parked there as it is very near to the transport nagar. The hotel

    has around 40 rooms with one restaurant, one banquet hall and a coffee shop. They

    are providing Indian and Chinese food in the restaurant.

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    Hotel Shiv

    The hotel has around 35 rooms with two restaurant and essential services required

    by any normal hotel. After the earthquake it has been renovated again and has now

    been made beautiful. In terms of property it has a good location in between the

    Gandhidham main market, but does not have a good landscaping in terms of

    garden. In the restaurant it is serving Indian and Chinese cuisine.

    Hotel Madhuban

    The hotel has also been newly reconstructed now after the earthquake. It has

    around 35 rooms with direct dialing facilities, cable T.V, however, refrigerators are

    restricted to suites and deluxe rooms only. The hotel is not centrally air

    conditioned. It has one A.C. restaurant serving Indian and Chinese cuisine and one

    banquet hall. In terms of operating standards we could say that it is a two star hotel

    with good layout.

    Sharma Resorts:

    This property is around 6 Kms. from Gandhidham near to the Kandla airport and it

    runs on the lines of a resort, where cluster units are housing around 45 operational

    rooms with air conditioners. It has a swimming pool, health club, indoor sports

    complex and an amusement park, an artificial waterfall and a lake with paddleboat

    along with one garden restaurant and one indoor restaurant. It also has one

    conference room.

    The rack rates offered by the best hotels in town are as follows:

    (fig in Rs.)

    HOTEL VILLAGE RESORT SINGLE BED DOUBLE BED

    A/C Deluxe 1800 2000

    Executive 2500 2800Suites 3500 3800

    Royal Suites 5200

    HOTEL CHANDAN SINGLE BED DOUBLE BED

    Non A/C 350 450

    With A/C 550 700

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    A/C Deluxe 650 800

    Executive Room 900 1050

    HOTEL MADHUBAN SINGLE BED DOUBLE BED

    With A/C 1000 1200A/C Deluxe 1500 2000

    Executive Room 2500 3000

    Suites 5000 5500

    HOTEL SHIV SINGLE BED DOUBLE BED

    With A/C 1200 1400

    Executive Room 2000 2200

    Suites 4500 5000

    SHARMA RESORTS SINGLE BED DOUBLE BED

    A/C Deluxe 1000 1200

    Executive Room 1800 2000

    Suites 3400

    Royal Suites 4500

    Rajvi Resorts SINGLE BED DOUBLE BED

    A/C Deluxe 1200 1350

    Executive Room 2000 2300

    Non A/C Deluxe 750 900

    In addi t ion to the above, there are 10 small hotels having an

    average 15 rooms each. The current demand for f irst c lass

    accommodation is around 500 rooms per day giving approximate

    1,82,500 room night as against this the current supply is around

    only 185 rooms of this type, thereby there is gap of 1 ,15,000

    room night per year.

    Expected Customers:Our hotel would at tract the top executives of the fol lowing

    companies visiting this town.

    Indian Oil Corporation Ltd.

    Hindustan Lever Ltd.

    IFFCO

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    Welspun India Ltd.

    Man Industries Ltd.

    Hindustan Petroleum Corporation Ltd.

    EURO Ceramics Ltd.

    We also expect an excel lent response in banquet ing from the

    res idents , as we have observed a tendency to have a large

    banquet parties at a regular intervals.

    Scope for diversification:

    We intend to work out f ranchisee cum management control

    arrangement with Taj group of hotels nationwide.

    IV. Type of Unit and site selection:

    Name of Unit : HOTEL STONE HEAVEN

    Address : Galpadar Road, Near BSF Camp;

    Gandhidham

    Type of Unit : Hospitality

    Techno-Economic reasons for site selection

    Requirement of Land & Building : Land size 2613.38 Sq.

    Mtrs has already been acquired by the promoter.

    V.Cost of Project

    The cost of the project has been estimated as:

    Sr. No Particulars Value Rs.

    (In Lacs)

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    1 Land 10.00

    2 Hotel Building 186.00

    3 Machinery & Equipments

    (Including installation, etc.)

    92.00

    4 Furniture and Fixture 140.005 Miscellaneous Fixed Assets 32.00

    6 Preliminary & Preoperative Expenses 50.25

    7 Working Capital Margin 10.00

    Total 520.25

    VI.Means of Finance

    The cost of the project as stated above is suggested to be met through the

    following sources:

    Sr.

    No

    Particulars Value Rs.

    (In Lacs)

    Remarks

    1 Promoters

    Contribution

    150.00 Rs. 100 Lac invested

    by Mr.Ghakkar and

    rest Rs.50 Lac

    invested by remaining

    promoters.

    2 Unsecured Loan 110.25 Funded by friends &

    relatives

    3 Term Loan 260.00 @ 10.5% interest

    Total 520.25

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    VII.Preliminary & Pre-operative Expenses

    Sr. No Particulars Value Rs

    (In Lac)

    Remarks

    1 Legal Expenses 7.00 Registration, Legal

    & other issues

    2 Project Report

    Preparation

    Nil Prepared by

    partners

    3 Establishment Expenses 35.50 Architect fee,Interior

    Decoration fee.

    4 Electrification & Water

    Deposits

    3.00 Three Phase &

    water deposits

    5 Inauguration Expenses &

    other expenses

    4.75 Advertising,

    Promotion

    Total 50.25

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    VIII. Annual Production Programme:

    No. of Days : 270.00

    No. of Rooms : 50.00

    Room Occupancy(%) : 50.00

    Room Night Sold : 6750.00

    Average Room Rate : 3140.00

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    IX. Manpower Requirements

    X. Infrastructure Facilities:

    Sr.

    No

    ParticularsNo

    s

    .

    TotalWages

    &Salaries

    /Month/p

    erson

    YearlyRs.

    (In Lac)

    A Hotel Staff 21 6400027

    .121.Waiters128,00011.522.Chief Chef128,0003.363.Assistant

    Chef315,0005.404.Assistant Cook48,0003.845.Security

    Guard55,0003.00BOffice Staff411,5003.181.ComputerOperator Cum-

    Accountant37,5002.702Receptionist14,0000.48Total75,50030.30

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    1. Electricity/ Year :- 1,80,000 K.V.2. Fuel Requirement / Year :- Gas - 3420 KG.

    (Oil & Gas) Diesel 30,000 litres

    Oil 3780 litres3. Water Requirement / Day :- 36,00,000 litres

    4. Transportation etc. :- Car Hire Service

    5. Availability & Possibilities of meeting these requirements: - All facilities

    are easily available & can possibly be met.

    XI. Utilities & Overhead Cost:

    XII. Administrative Expenses

    Sr.N

    o

    Particulars Monthl

    yRup

    ees

    (In Lac)

    Total

    Annual

    Expe

    nses

    (In Lac)

    Remarks

    1 Electricity 1.125 13.50 1,80,000 K.V @7.50 per unit

    2 Water & Fuel 1.224 14.69 Waterconsumption @0.10/litre, diesel@ 35/litre, gas @1000 per 19 kg.and Oil @ 100per litre

    3Repair &Maintenance

    0.1875 2.25

    4 Misc. ( Upkeepingexpenses)

    0.765 9.180

    7 Total (Rs.) 3.3015 39.62

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    XIII. Break Even Calculations

    Sr.No

    .

    Description Monthly Rs.

    Yearly

    Rs. (In

    Lac)

    1.Stationery &Printing

    2,083 0.25

    2.Telephone/ Fax/Telegrams

    7,500 0.90

    3.Rent, Taxes &Insurance

    35,833 4.30

    4. Misc. expenses 1,000 0.12

    Total 46,416 5.57

    Particulars

    Amo

    un

    t

    (In Lac)Total Service Cost: - 250.28Fixed Cost: - 61.99

    Variable Costs :- 188.29

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    * Contribution = Sales Income Variable cost

    = 274.35 188.29

    =86.06

    * B.E.P (%) = {Fixed Cost / Contribution} * sales

    = {61.99/ 86.06} * 100

    = 72.03%

    XIV. Analysis of Break Even Point (BEP)

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    XV. Project Implementation Schedule

    Particulars Weeks/Days

    i. Market Survey 20-25 days

    ii. Acquisition of License / Permissions 40-60 days

    iii. Project report 10-15 days

    iv. Loan application for fixed assets & W. Cap 60-90 days

    Particulars Amount Variable Costs

    Food & Beverages 27.55Electricity Exp. 13.50Selling & Distribution 6.89Preliminary Exp. 50.25

    Interest 16.51Depreciation 58.9

    Total Variable Cost 188.29

    Fixed CostsRepairs & Maintenance 2.25Water & Fuel 14.69Administrative Expenditure 5.57Salary 30.30

    Up-keeping 9.18Total Fixed

    Costs

    61.99

    Surplus 86.06Income from sales p.a 274.35

    Total Variable cost 188.29

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    v. Machinery Orders 60-90 days

    vi. Power Connection 90 days

    vii. Employment of People 40-60 days

    viii. Electrification 25-30 days

    Annexure

    Annexure : 1 Machinery/Equipment Requirements

    S.No. Description Total Value

    (Rs. in

    lakhs(

    Name and Address of

    Suppliers

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    1. Kitchen Equipments 12.00 Apex Home

    Appliances, Mumbai.

    2. Refrigeration (deep freezers, water

    coolers, water treatment plant, etc(.

    5.00 Jalaram electronics,

    Gandhidham.

    3. Centralized Air conditioner & Lifts 20.00 Flex Company,Mumbai.

    4. Others (computer system, electrical

    connection, D.G. set,

    telecommunication system, health

    club equipments etc(.

    55.00 Pars Enterprise,

    Vimal Sports and

    Stationery.

    Total 92.00 -

    Annexure 2: - Other Fixed Assets

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    SR

    NO.

    ITEM VALUE (RS(.

    )In Lac(

    1. Land / Building 196.00

    2. Furniture & Fixtures

    140.00

    TOTAL 336.00

    Annexure: 3 Expected Service Cost

    Sr. No. Particulars Stocking Period Yearly Rs.

    )In Lac(1. Food and Beverages 7Days 27.55

    2. Utilities 30Days 39.62

    3. Development Expenses --- 50.25

    4. Salaries 30days 30.30

    5. Admn. Expenses 30days 5.57

    6. Selling Expenses 6.89

    7. Other Misc. Expenses 14.69

    Total Expenses 174.87

    11 Interest --- 16.51

    12 Depreciation --- 58.90

    Total Service Cost 250.28

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    Annexure :- 4 Sales Revenue

    Sr

    No.

    Type of Room No. of

    Rooms

    Charges per

    Room1. Single A/C 10 1,500

    2. Double A/C 15 2,200

    3. Special Deluxe 10 3,000

    4. Executive Room 10 4,000

    5. Suits 5 5,000

    Annual Production Programme:

    No. of Days : 270.00

    No. of Rooms : 50.00

    Room Occupancy(%) : 50.00

    Room Night Sold : 6750.00

    Average Room Rate : 3140.00

    Sr.

    No.Particulars

    Room

    NightSold

    Monthly

    Room Night

    Sold Yearly

    Annual

    Value Rs.

    (In Lac(

    1. Room Sales 562.5 6750 211.95

    2. Food and Beverages Sale -- -- 55.10

    3.Misc. Sales [Membership Fee,

    Rent of Party Plot, etc[.-- -- 7.30

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    Total 274.35

    ***********Annexure :-6 Working Capital

    i)Utilities for 2 monthsRs.6.00

    ii)Receivables for 3 monthsRs. 1.08

    iii)Salary for one monthRs. 2.00

    iv) Admn. Expenses for 2 monthsRs. 0.92----------------------TotalRs. 10.00

    =============

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    Annexure:- 7Interest

    Statement of Interest on Term Loan and Repayment

    Amount 260-/Lac

    Interest 10.50%

    Repayment 84Monthly Installment of Rs.4.65/-Lac each starting from September 2007

    Installment

    No. Year Month

    Opening

    Balance Interest

    Repayment

    Installment

    Interest

    Closing

    Balance

    Total

    Interest

    Total

    Repayment

    2006-07 Dec-06 52.00 0.46 52.46

    Jan-07 104.46 0.91 0.00 0.00 105.37

    Feb-07 157.37 1.38 0.00 0.00 158.75

    Mar-07 210.75 1.84 0.00 0.00 212.59

    2007-08 Apr-07 264.59 2.32 0.00 0.00 266.91

    May-07 266.91 2.34 0.00 0.00 269.25

    Jun-07 269.25 2.36 0.00 0.00 271.60

    Jul-07 271.60 2.38 0.00 0.00 273.98

    Aug-07 273.98 2.40 0.00 0.00 276.38

    1 Sep-07 276.38 2.42 0.00 0.00 274.15

    2 Oct-07 274.15 2.40 2.23 2.42 271.90

    3 Nov-07 271.90 2.38 2.25 2.40 269.62

    4 Dec-07 269.62 2.36 2.27 2.38 267.33

    5 Jan-08 267.33 2.34 2.29 2.36 265.02

    6 Feb-08 265.02 2.32 2.31 2.34 262.69

    7 Mar-08 262.69 2.30 2.33 2.32 260.34 16.51 32.55

    8 2008-09 Apr-08 260.34 2.28 2.35 2.30 257.97

    9 May-08 257.97 2.26 2.37 2.28 255.58

    10 Jun-08 255.58 2.24 2.39 2.26 253.16

    11 Jul-08 253.16 2.22 2.41 2.24 250.73

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    12 Aug-08 250.73 2.19 2.43 2.22 248.27

    13 Sep-08 248.27 2.17 2.46 2.19 245.79

    14 Oct-08 245.79 2.15 2.48 2.17 243.29

    15 Nov-08 243.29 2.13 2.50 2.15 240.77

    16 Dec-08 240.77 2.11 2.52 2.13 238.23

    17 Jan-09 238.23 2.08 2.54 2.11 235.66

    18 Feb-09 235.66 2.06 2.57 2.08 233.08

    19 Mar-09 233.08 2.04 2.59 2.06 230.47 25.93 55.80

    20 2009-10 Apr-09 230.47 2.02 2.61 2.04 227.83

    21 May-09 227.83 1.99 2.63 2.02 225.18

    22 Jun-09 225.18 1.97 2.66 1.99 222.50

    23 Jul-09 222.50 1.95 2.68 1.97 219.79

    24 Aug-09 219.79 1.92 2.70 1.95 217.07

    25 Sep-09 217.07 1.90 2.73 1.92 214.31

    26 Oct-09 214.31 1.88 2.75 1.90 211.54

    27 Nov-09 211.54 1.85 2.77 1.88 208.74

    28 Dec-09 208.74 1.83 2.80 1.85 205.92

    29 Jan-10 205.92 1.80 2.82 1.83 203.07

    30 Feb-10 203.07 1.78 2.85 1.80 200.20

    31 Mar-10 200.20 1.75 2.87 1.78 197.30 22.63 55.80

    32 2010-11 Apr-10 197.30 1.73 2.90 1.75 194.37

    33 May-10 194.37 1.70 2.92 1.73 191.43

    34 Jun-10 191.43 1.67 2.95 1.70 188.45

    35 Jul-10 188.45 1.65 2.98 1.67 185.45

    36 Aug-10 185.45 1.62 3.00 1.65 182.42

    37 Sep-10 182.42 1.60 3.03 1.62 179.37

    38 Oct-10 179.37 1.57 3.05 1.60 176.29

    39 Nov-10 176.29 1.54 3.08 1.57 173.18

    40 Dec-10 173.18 1.52 3.11 1.54 170.05

    41 Jan-11 170.05 1.49 3.13 1.52 166.88

    42 Feb-11 166.88 1.46 3.16 1.49 163.69

    43 Mar-11 163.69 1.43 3.19 1.46 160.48 18.98 55.80

    44 2011-12 Apr-11 160.48 1.40 3.22 1.43 157.23

    45 May-11 157.23 1.38 3.25 1.40 153.96

    46 Jun-11 153.96 1.35 3.27 1.38 150.65

    47 Jul-11 150.65 1.32 3.30 1.35 147.32

    48 Aug-11 147.32 1.29 3.33 1.32 143.96

    49 Sep-11 143.96 1.26 3.36 1.29 140.57

    50 Oct-11 140.57 1.23 3.39 1.26 137.15

    51 Nov-11 137.15 1.20 3.42 1.23 133.70

    52 Dec-11 133.70 1.17 3.45 1.20 130.22

    53 Jan-12 130.22 1.14 3.48 1.17 126.71

    54 Feb-12 126.71 1.11 3.51 1.14 123.17

    55 Mar-12 123.17 1.08 3.54 1.11 119.60 14.92 55.80

    56 2012-13 Apr-12 119.60 1.05 3.57 1.08 115.99

    57 May-12 115.99 1.01 3.60 1.05 112.36

    58 Jun-12 112.36 0.98 3.64 1.01 108.69

    59 Jul-12 108.69 0.95 3.67 0.98 104.99

    60 Aug-12 104.99 0.92 3.70 0.95 101.26

    61 Sep-12 101.26 0.89 3.73 0.92 97.50

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    62 Oct-12 97.50 0.85 3.76 0.89 93.70

    63 Nov-12 93.70 0.82 3.80 0.85 89.87

    64 Dec-12 89.87 0.79 3.83 0.82 86.00

    65 Jan-13 86.00 0.75 3.86 0.79 82.11

    66 Feb-13 82.11 0.72 3.90 0.75 78.18

    67 Mar-13 78.18 0.68 3.93 0.72 74.21 10.41 55.80

    68 2013-14 Apr-13 74.21 0.65 3.97 0.68 70.21

    69 May-13 70.21 0.61 4.00 0.65 66.17

    70 Jun-13 66.17 0.58 4.04 0.61 62.10

    71 Jul-13 62.10 0.54 4.07 0.58 58.00

    72 Aug-13 58.00 0.51 4.11 0.54 53.85

    73 Sep-13 53.85 0.47 4.14 0.51 49.67

    74 Oct-13 49.67 0.43 4.18 0.47 45.46

    75 Nov-13 45.46 0.40 4.22 0.43 41.21

    76 Dec-13 41.21 0.36 4.25 0.40 36.92

    77 Jan-14 36.92 0.32 4.29 0.36 32.59

    78 Feb-14 32.59 0.29 4.33 0.32 28.23

    79 Mar-14 28.23 0.25 4.36 0.29 23.82 5.41 55.80

    80 2014-15 Apr-14 23.82 0.21 4.40 0.25 19.38

    81 May-14 19.38 0.17 4.44 0.21 14.90

    82 Jun-14 14.90 0.13 4.48 0.17 10.38

    83 Jul-14 10.38 0.09 4.52 0.13 5.82

    84 Aug-14 5.82 0.05 4.56 0.09 0.00 0.65 24.47

    5.82 0.05

    Annexure:- 8 Depreciation

    Particulars Percentage Yearly Amount Rs.

    )In Lac(

    Furniture & Fixtures 10% 14

    Machinery /

    Equipments

    15% 13.8

    Building 15% 27.9

    Other Misc. FixedAssets

    3.2

    Total Amount 58.9

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    Annexure:- 9 Cash Flow Statement

    )

    Amount in Lacs(

    Projected Cash Flow Statement

    Inflow 2006-07 2007-08 2008-09 2009-10

    Promoter's Contribution 150.00 0.00 0.00 0.00

    Term Loan 212.59 47.75 0.00 0.00

    Unsecured Loan 110.25 0.00 0.00 0.00

    Profit before Dep. 0.00 84.97 146.38 162.82

    Total Inflow 472.84 132.72 146.38 162.82

    Outflow

    Capital expenditure on project 462.84 47.40 0.00 0.00

    Investment 0.00 40.80 55.03 60.72

    Repayment of loan 0.00 16.04 29.87 29.87

    Increase in Curremt asset 0.00 5.00 5.00 0.00

    Tax 0.00 7.41 32.47 40.69

    Total Outflow 462.84 116.65 122.37 131.28

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    Opening balance 0.00 10.00 26.07 50.08

    Surplus/Deficiet 10.00 16.07 24.01 31.54

    Closing Balance 10.00 26.07 50.08 81.62

    Annexure 10: Declaration of Promoters

    We as promoters of HOTEL STONE HEAVEN, hereby

    declare that the information given in the repor t is true to the

    best of our knowledge and belief.

    Mr. Dinesh Ghakhar

    Mr. Abraham Mathewkutty

    Mr. Manish Changrani

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    Mr. Digvirbhai Sodha

    Mr. Bharat Kewalramani

    Mr. Sandeep Patel

    Ms. Sheena EasowMs. Urvi Sonetta

    Ms. Meera Thacker

    Ms. Kunal Vaswani