WBNO Financials

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  • 8/3/2019 WBNO Financials

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    Variables

    INR :: USD 45

    INR :: 55

    Churn Rate/month 0.030

    Maintenance Cost/ subscriber $3.00

    ARPU $37.00

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    FY -07

    Jul-07 Aug-07 Sep-07 Oct-07

    0 5000 6000 6480

    0 5000 10850 17005

    0 840 1008 1089

    Additions 1

    Number of WBNOs 1 1 1 1

    Avalibality Fee 60000 0 0 0

    Initial Subscribers 25000 25000 25000 25000

    Additional Revenue 64200 4200 4200 4200

    Monthly Revenue 0 0 0

    Total No. of Subs 25000 30000 35850 42005

    $64,200.00 $5,040.00 $5,208.00 $5,288.64

    PRICE MODEL

    Monthly Fee $-

    Setup Fee $288,000

    0.17

    0.17

    WBNO Month 1 Month 2 Month 3 Month 4

    Growth rate for WBNO 1 20.00% 20.00% 18.00%

    25000 5000 6000 6480

    Total 25000 30000 36000 42480

    Growth rate for WBNO 2 20.00% 20.00% 20.00%

    Subscriber Activations Per

    Month.Total Number of ActiveSubscribers

    Activation Revenue PerMonth($)

    Cummulative Total Revenueto SIS

    Price Per SubscriberActivation $

    Subscriber base additions/month

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    10000 2000 2400 2880

    Total 10000 12000 14400 17280

    Growth rate for WBNO 3 10.00% 10.00% 12.00%

    8000 800 880 1162Total 8000 8800 9680 10842

    Growth rate for WBNO 4

    Total

    Growth rate for WBNO 5

    Total

    Growth rate for WBNO 6

    Total

    Growth rate for WBNO 7

    Total

    Growth rate for WBNO 8

    Total

    Growth rate for WBNO 9

    Total

    Growth rate for WBNO 10

    Total

    Subscriber base additions/month

    Subscriber base additions

    /month

    Subscriber base additions/month

    Subscriber base additions/month

    Subscriber base additions/month

    Subscriber base additions/month

    Subscriber base additions/month

    Subscriber base additions/month

    Subscriber base additions

    /month

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    FY-'08

    Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08

    5098 5709 10838 12478 15045 16564 18192

    21592 26654 36692 48070 61672 76386 92287

    856 959 1821 2096 2528 2783 3056

    1

    1 1 2 2 2 2 2

    0 0 60000 0 0 0 0

    25000 25000 54860 54860 54860 54860 54860

    4200 4200 69216 9216 9216 9216 9216

    0 0 0 0 0 0 0

    46592 51654 91552 102929 116532 131246 147146

    $5,056.40 $5,159.16 $71,037.27 $11,312.81 $11,744.00 $11,999.15 $12,272.73

    Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11

    12.00% 12.00% 11.00% 11.00% 12.00% 12.00% 11.00%

    5098 5709 5862 6506 7879 8824 9059

    47578 53287 59148 65655 73533 82357 91417

    20.00% 20.00% 20.00% 20.00% 20.00% 18.00% 18.00%

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    3456 4147 4977 5972 7166 7740 9133

    20736 24883 29860 35832 42998 50738 59871

    12.00% 13.00% 15.00% 15.00% 20.00% 20.00% 18.00%

    1301 1579 2058 2367 3629 4355 470312143 13721 15779 18146 21775 26131 30834

    15.00%

    10000 1500

    10000 11500

    20.00% 50.00% 50.00%

    9000 1800 5400 8100

    9000 10800 16200 24300

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    Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08

    25469 29322 33795 36256 38087 43084 47190

    114986 140858 170428 201571 233611 269686 308785

    4279 4926 5678 6091 6399 7238 7928

    1

    3 3 3 3 3 3 3

    60000 0 0 0 0 0 0

    91244 91244 91244 91244 91244 91244 91244

    75329 15329 15329 15329 15329 15329 15329

    0 0 0 0

    206230 232102 261672 292815 324855 360930 400029

    $79,607.70 $20,255.00 $21,006.53 $21,420.08 $21,727.58 $22,567.04 $23,256.88

    Month 12 Month 13 Month 14 Month 15 Month 16 Month 17 Month 18

    10.00% 10.00% 10.00% 9.00% 9.00% 9.00% 8.00%

    9142 10056 11061 10951 11936 13011 12606

    100558 110614 121676 132626 144563 157573 170179

    18.00% 18.00% 18.00% 18.00% 15.00% 15.00% 15.00%

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    10777 12717 15006 17706 17411 20023 23027

    70647 83364 98369 116076 133487 153510 176537

    18.00% 18.00% 18.00% 15.00% 15.00% 15.00% 15.00%

    5550 6549 7728 7599 8739 10050 1155736384 42933 50661 58260 67000 77049 88607

    15.00% 15.00% 17.00% 17.00% 17.00% 15.00% 15.00%

    1725 1984 2585 3025 3539 3654 4202

    13225 15209 17794 20819 24359 28012 32214

    12.00% 14.00% 15.00% 15.00% 15.00% 15.00%

    8000 960 1254 1532 1762 2026 2330

    8000 8960 10214 11747 13509 15535 17865

    50.00% 80.00% 80.00% 70.00% 40.00% 40.00% 40.00%

    12150 29160 52488 82669 80307 112429 157401

    36450 65610 118098 200767 281073 393503 550904

    17.00% 20.00%

    5000 850 1170

    5000 5850 7020

    30.00%

    5000 1500

    5000 6500

    5000

    5000

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    FY -'09

    Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09

    58218 61211 69093 78084 83465 92823 477501

    357740 408218 465064 529196 596785 671705 1129055

    9781 10283 11608 13118 14022 15594 80220

    1 1 1

    4 4 4 5 5 5 6

    60000 0 0 60000 0 0 60000

    128290 128290 128290 159536 159536 159536 2760094

    81553 21553 21553 86802 26802 26802 523696

    486030 536509 593355 688733 756321 831241 3889149

    $91,333.39 $31,836.15 $33,160.32 $99,920.18 $40,824.18 $42,396.45 $603,915.96

    Month 19 Month 20 Month 21 Month 22 Month 23 Month 24 Month 25

    8.00% 6.50% 6.50% 6.50% 6.50% 6.50% 5.50%

    13614 11947 12723 13550 14431 15369 13850

    183794 195740 208463 222014 236444 251813 265663

    15.00% 14.00% 14.00% 14.00% 12.00% 12.00% 12.00%

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    26481 28422 32402 36938 36094 40425 45276

    203017 231440 263841 300779 336873 377298 422573

    15.00% 15.00% 15.00% 12.00% 12.00% 11.00% 10.00%

    13291 15285 17577 16171 18112 18595 18764101898 117183 134760 150931 169043 187638 206401

    15.00% 15.00% 15.00% 15.00% 18.00% 18.00% 18.00%

    4832 5557 6390 7349 10142 11967 14121

    37046 42603 48994 56343 66484 78452 92573

    15.00% 15.00% 15.00% 15.00% 15.00% 18.00% 18.00%

    2680 3082 3544 4076 4687 6468 7632

    20545 23627 27171 31246 35933 42401 50033

    34.00% 32.00% 29.00% 27.00% 19.00% 17.00% 17.00%

    187307 236227 282587 339397 303320 322956 377859

    738211 974438 1257025 1596422 1899742 2222698 2600557

    20.00% 29.00% 33.00% 21.00% 21.00% 19.00% 15.00%

    1404 2443 3586 3035 3673 4021 3777

    8424 10867 14453 17488 21161 25181 28958

    40.00% 45.00% 43.00% 31.00% 26.00% 21.00% 17.00%

    2600 4095 5674 5849 6427 6540 6407

    9100 13195 18869 24718 31145 37685 44092

    50.00% 60.00% 55.00% 41.00% 32.00% 27.00% 22.00%

    2500 4500 6600 7626 8392 9347 9672

    7500 12000 18600 26226 34618 43965 53638

    23.00% 35.00% 29.00% 22.00% 19.00% 18.00%

    5000 1150 2153 2408 2356 2483 27995000 6150 8303 10710 13066 15549 18348

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    Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10

    443275 466688 486300 500795 551004 516220 600093

    1538458 1958992 2386523 2815722 3282255 3700007 4189100

    74470 78404 81698 84134 92569 86725 100816

    1

    6 6 6 6 7 7 7

    0 0 0 0 60000 0 0

    2760094 2760094 2760094 2760094 2808870 2808870 2808870

    463696 463696 463696 463696 531890 471890 471890

    4298552 4719086 5146616 5575816 6091125 6508877 6997970

    $538,165.85 $542,099.24 $545,394.20 $547,829.32 $624,458.93 $558,615.13 $572,705.92

    Month 26 Month 27 Month 28 Month 29 Month 30 Month 31 Month 32

    5.50% 5.50% 5.50% 5.50% 5.50% 5.50% 5.00%

    14611 15415 16263 17157 18101 19097 18315

    280274 295690 311953 329110 347211 366308 384623

    11.00% 9.50% 9.50% 9.50% 8.00% 8.00% 8.00%

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    46483 44560 48794 53429 49267 53209 57465

    469056 513617 562410 615839 665106 718315 775780

    8.00% 8.00% 8.00% 6.00% 6.00% 6.00% 6.00%

    16512 17833 19260 15600 16536 17529 18580222914 240747 260006 275607 292143 309672 328252

    19.00% 22.00% 19.00% 20.00% 20.00% 20.00% 17.00%

    17589 24236 25536 31987 38384 46061 46982

    110162 134397 159933 191920 230303 276364 323346

    20.00% 20.00% 20.00% 20.00% 22.00% 18.00% 17.00%

    10007 12008 14410 17291 22825 22783 25391

    60040 72048 86457 103749 126573 149357 174747

    13.00% 12.00% 11.00% 10.00% 10.00% 8.00% 9.00%

    338072 352636 362039 365330 401863 353640 429672

    2938630 3291265 3653304 4018635 4420498 4774138 5203811

    13.00% 12.00% 11.00% 10.00% 9.00% 8.00% 7.00%

    3765 3927 4031 4068 4027 3902 3688

    32723 36650 40681 44749 48777 52679 56367

    14.00% 12.00% 12.00% 11.00% 10.00% 8.00% 8.00%

    6173 6032 6756 6936 6999 6159 6652

    50265 56296 63052 69988 76987 83146 89797

    19.00% 18.00% 17.00% 15.00% 15.00% 15.00% 13.00%

    10191 11489 12804 13218 15201 17481 17423

    63829 75318 88122 101340 116541 134023 151445

    21.00% 20.00% 16.00% 12.00% 11.00% 10.00% 10.00%

    3853 4440 4263 3708 3807 3842 422622201 26641 30904 34612 38420 42262 46488

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    FY -'10

    Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10

    589932 572082 549291 595638 547140 682766 763801

    4653359 5085841 5482557 5913718 6283447 6777710 7338179

    99109 96110 92281 100067 91920 114705 128319

    1 1 1

    8 8 8 9 9 10 10

    60000 0 0 60000 0 60000 0

    2905851 2905851 2905851 3123533 3123533 3195267 3195267

    548183 488183 488183 584754 524754 596805 536805

    7559211 7991692 8388408 9037251 9406980 9972977 10533446

    $647,291.68 $584,292.85 $580,463.91 $684,820.82 $616,673.08 $711,509.62 $665,123.43

    Month 33 Month 34 Month 35 Month 36 Month 37 Month 38 Month 39

    5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%

    19231 20193 21202 22262 23376 24544 25772

    403854 424047 445249 467512 490887 515431 541203

    6.00% 6.00% 6.00% 6.00% 5.50% 5.50% 5.50%

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    46547 49340 52300 55438 53867 56830 59956

    822327 871666 923966 979404 1033272 1090102 1150057

    6.00% 6.00% 5.00% 5.00% 5.00% 5.00% 5.00%

    19695 20877 18441 19363 20331 21348 22415347947 368824 387265 406628 426960 448308 470723

    15.00% 12.00% 12.00% 10.00% 8.00% 8.00% 8.00%

    48502 44622 49976 46645 41047 44331 47878

    371848 416470 466446 513091 554138 598469 646346

    16.00% 15.00% 15.00% 15.00% 13.00% 13.00% 13.00%

    27960 30406 34967 40212 40078 45288 51175

    202707 233113 268080 308292 348369 393657 444833

    8.00% 7.00% 6.00% 6.00% 5.00% 5.50% 6.00%

    416305 393408 360811 382460 337840 390205 449090

    5620116 6013524 6374335 6756795 7094635 7484840 7933930

    8.00% 9.00% 8.00% 8.00% 8.00% 7.00% 6.00%

    4509 5479 5308 5733 6192 5851 5366

    60876 66355 71663 77396 83588 89439 94805

    8.00% 8.00% 6.00% 5.00% 6.00% 5.00% 6.00%

    7184 7758 6284 5551 6994 6178 7785

    96981 104739 111024 116575 123569 129748 137533

    11.00% 10.00% 8.00% 9.00% 8.00% 7.00% 7.00%

    16659 16810 14793 17974 17415 16457 17609

    168104 184915 199708 217682 235096 251553 269162

    9.00% 7.00% 8.00% 7.00% 7.00% 7.00% 7.00%

    4184 3547 4337 4099 4386 4693 502150672 54219 58556 62655 67041 71734 76755

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    Figures in USD

    Financial Summary

    Particulars FY-07 FY-08 FY-09 FY-10 To

    Revenue 74448 276159 2091203 7339179 9780

    Direct Cost 314595 2272644 1805164 1532575 5924

    Gross Margin (240147) (1996484) 286039 5806604 3856Gross Margin % -323% -723% 14% 79% 39

    Overheads 134106 49709 250944 880701 1315

    EBIT (374253) (2046193) 35095 4925902 2540

    EBIT % -502.70% -740.95% 1.68% 67.12% 25.9

    Total No.of WBNOs in FY 1 3 6 10

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    All figures in USD

    Particulars FY 07 FY 08 FY 09 Fy 10

    Revenues From July

    Revenue 74448 276159 2091203 7339179

    Upfront charges

    Set up charges 288000

    Total revenues 362448 276159 2091203 7339179

    Expenses

    Travel Expenses 1186 7769 16341 28323

    Manpower Cost 19014 161037 382484 789542

    AMC & Support Charges 280600 336720 336720 336720

    Depreciation (Capex) 0 1666666 999999 333333

    Project Contingency 5% 14981 108221 85960 72980

    Overheads - S & D 25371 11046 62736 220175

    Overheads - S & GA 108734 38662 188208 660526

    Opportunity cost of funds(12%) 395518 441148 341274 0

    Total costs 845405 2771269 2413724 2441599

    Contribution -482957 -2495110 -322521 4897579

    contribution % of revenues -133.25% -903.50% -15.42% 66.73%

    Overheads S&D 7.00% 4.00% 3.00% 3.00%

    Overheads S & GA 30.00% 14.00% 9.00% 9.00%

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    Total

    9780990

    0

    288000

    10068990

    53619

    1352078

    1290760

    2999998

    282142

    319329

    996131

    1177940

    8471997

    1596992

    15.86%

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    Capex Costs in US $

    Particulars FY 07 FY 08 FY 09

    Hardware Cost 1000000 0 0Software costs 2000000 0 0Depriciation Hardware(3 Years) 333333 333333

    Depriciation Software(1 Years) 1333333 666666Total Depriciation 0 1666666 999999Annual Maintenace Charges

    Hardware @ 10% 50000 100000 100000Software @ 10% 200000 200000 200000Sales Tax 30600 36720 36720Total AMC 280600 336720 336720

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    FY 10

    0

    0

    333333

    0

    333333

    100000

    200000

    36720

    336720

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    On Site

    Month M3 M2 M1 M0 P2 P1 P0

    FY 07

    Jul-07 0 0 0 0 0 0 0Aug-07 0 0 0 0 0 0 0

    Sep-07 0 0 0 0 0 0 0

    FY 08

    Oct-07 0 0 0 0 0 0 0Nov-07 0 0 0 0 0 0 0Dec-07 0 0 0 0 0 0 0Jan-08 0 0 0 0 0 0 0Feb-08 0 0 0 0 0 0 0Mar-08 0 0 0 0 0 0 0Apr-08 0 0 0 0 0 0 0

    May-08 0 0 0 0 0 0 0Jun-08 0 0 0 0 0 0 0Jul-08 0 0 0 0 0 0 0

    Aug-08 0 0 0 0 0 0 0

    Sep-08 0 0 0 0 0 0 0

    FY 09

    Oct-08 0 0 0 0 0 0 0Nov-08 0 0 0 0 0 0 0Dec-08 0 0 0 0 0 0 0Jan-09 0 0 0 0 0 0 0

    Feb-09 0 0 0 0 0 0 0Mar-09 0 0 0 0 0 0 0Apr-09 0 0 0 0 0 0 0

    May-09 0 0 0 0 0 0 0Jun-09 0 0 0 0 0 0 0Jul-09 0 0 0 0 0 0 0

    Aug-09 0 0 0 0 0 0 0

    Sep-09 0 0 0 0 0 0 0

    FY 10

    Oct-09 0 0 0 0 0 0 0Nov-09 0 0 0 0 0 0 0Dec-09 0 0 0 0 0 0 0

    Jan-10 0 0 0 0 0 0 0Feb-10 0 0 0 0 0 0 0Mar-10 0 0 0 0 0 0 0Apr-10 0 0 0 0 0 0 0

    May-10 0 0 0 0 0 0 0Jun-10 0 0 0 0 0 0 0Jul-10 0 0 0 0 0 0 0

    Aug-10 0 0 0 0 0 0 0

    Sep-10 0 0 0 0 0 0 0

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    M3 2,020,613 0 198,284

    M2 1,605,612 0 157,706

    M1 1,171,413 0 115,251

    M0 906,401 0 89,339

    P2 666,122 0 65,845

    P1 475,235 0 47,180

    P0 317,215 0 31,729

    OG 244,277 0 24,598

    WP M2 3,600,000 0 352,000

    WP M1 3,240,000 316,800

    WP M0 2,700,000 264,000

    WP P2 2,565,000 250,800

    WP P1 2,430,000 237,600

    S6 281,892 0 28,276

    S5 240,000 0 24,179

    Resource

    Grade

    Kolkata CTC

    (INR)

    Others

    (INR)

    Cost/

    Month rs

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    OG S6 S5 Total M3 M2 M1 M0

    24598 0 0 24598 0 0 0 0

    24598 0 0 24598 0 0 0 0

    24598 0 0 24598 0 0 0 0

    129137.73

    24598 0 0 24598 0 0 0 0

    24598 0 0 24598 0 0 0 0

    24598 0 0 24598 0 0 0 0

    49195 0 0 49195 0 0 0 0

    49195 0 0 49195 0 0 0 0

    49195 0 0 49195 0 0 0 0

    49195 0 0 49195 0 0 0 0

    49195 0 0 49195 0 0 0 0

    73793 0 0 73793 0 0 0 0

    73793 0 0 73793 0 0 0 0

    73793 0 0 73793 0 0 0 0

    73793 0 0 73793 0 0 0 0

    ###

    73793 0 0 73793 0 0 0 0

    73793 0 0 73793 0 0 0 0

    73793 0 0 73793 0 0 0 0

    98391 0 0 98391 0 0 0 0

    98391 0 0 98391 0 0 0 098391 0 0 98391 0 0 0 0

    122988 0 0 122988 0 0 0 0

    122988 0 0 122988 0 0 0 0

    122988 0 0 122988 0 0 0 0

    147586 0 0 147586 0 0 0 0

    147586 0 0 147586 0 0 0 0

    147586 0 0 147586 0 0 0 0

    ###

    147586 0 0 147586 0 0 0 0

    147586 0 0 147586 0 0 0 0

    172184 0 0 172184 0 0 0 0

    172184 0 0 172184 0 0 0 0172184 0 0 172184 0 0 0 0

    196781 0 0 196781 0 0 0 0

    196781 0 0 196781 0 0 0 0

    196781 0 0 196781 0 0 0 0

    221379 0 0 221379 0 0 0 0

    221379 0 0 221379 0 0 0 0

    245977 0 0 245977 0 0 0 0

    245977 0 0 245977 0 0 0 0

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    6219407

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    9%

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    75.0%

    15.0%

    INR:US$ INR 45

    Offsite

    P2 P1 P0 OG S6 S5 Total

    65845 0 0 0 0 72538 138383

    65845 0 0 0 0 72538 138383

    65845 0 0 0 0 72538 138383

    726511.43

    65845 0 0 0 0 72538 138383

    65845 0 0 0 0 72538 138383

    65845 0 0 0 0 72538 138383

    65845 0 31729 0 0 145077 242651

    65845 0 31729 0 0 145077 242651

    65845 0 31729 0 0 145077 24265165845 0 31729 0 0 145077 242651

    65845 0 31729 0 0 145077 242651

    65845 0 31729 0 0 241795 339369

    65845 0 31729 0 0 241795 339369

    65845 0 31729 0 0 241795 339369

    65845 0 31729 0 0 241795 339369

    ###

    65845 0 31729 0 0 241795 339369

    65845 0 31729 0 0 241795 339369

    65845 0 31729 0 0 241795 339369

    65845 0 31729 0 0 338513 436087

    65845 0 31729 0 0 338513 43608765845 0 31729 0 0 338513 436087

    131689 0 63459 0 0 386871 582020

    131689 0 63459 0 0 386871 582020

    131689 0 63459 0 0 386871 582020

    131689 0 63459 0 0 483589 678738

    131689 0 63459 0 0 483589 678738

    131689 0 63459 0 0 483589 678738

    ###

    131689 0 63459 0 0 483589 678738

    131689 0 63459 0 0 483589 678738

    131689 0 63459 0 0 580307 775455

    131689 0 63459 0 0 580307 775455

    131689 0 63459 0 0 580307 775455

    197534 47180 63459 0 0 628666 936839

    197534 47180 63459 0 0 628666 936839

    197534 47180 63459 0 0 628666 936839

    197534 47180 63459 0 0 725384 1033557

    197534 47180 63459 0 0 725384 1033557

    263379 141541 95188 0 0 725384 1225492

    263379 141541 95188 0 0 725384 1225492

    Attrition andoccupancyrate

    incrementrate

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    29309998

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    Travellers No.of tickets

    FY 07

    Jul-07 1 1 $5.27 $1.20Aug-07 1 0 $5.27 $1.20

    Sep-07 1 0 $5.27 $1.20

    Total for FY 07

    FY 08

    Oct-07 1 0 $5.27 $1.20Nov-07 1 0 $5.27 $1.20Dec-07 1 0 $5.27 $1.20Jan-08 2 1 $10.54 $2.40Feb-08 2 0 $10.54 $2.40Mar-08 2 0 $10.54 $2.40Apr-08 2 0 $10.54 $2.40

    May-08 2 0 $10.54 $2.40Jun-08 3 1 $15.81 $3.60Jul-08 3 0 $15.81 $3.60

    Aug-08 3 0 $15.81 $3.60

    Sep-08 3 0 $15.81 $3.60

    Total for FY 08

    FY 09

    Oct-08 3 0 $15.81 $3.60Nov-08 3 0 $15.81 $3.60Dec-08 3 0 $15.81 $3.60Jan-09 4 1 $21.08 $4.80Feb-09 4 0 $21.08 $4.80Mar-09 4 0 $21.08 $4.80

    Apr-09 5 1 $26.35 $6.00May-09 5 0 $26.35 $6.00Jun-09 5 0 $26.35 $6.00Jul-09 6 1 $31.62 $7.20

    Aug-09 6 0 $31.62 $7.20

    Sep-09 6 0 $31.62 $7.20

    Total for FY 09

    FY 10

    Oct-09 6 0 $31.62 $7.20Nov-09 6 0 $31.62 $7.20Dec-09 7 1 $36.89 $8.40Jan-10 7 0 $36.89 $8.40Feb-10 7 0 $36.89 $8.40

    Mar-10 8 1 $42.16 $9.60Apr-10 8 0 $42.16 $9.60

    May-10 8 0 $42.16 $9.60Jun-10 9 1 $47.43 $10.80Jul-10 9 0 $47.43 $10.80

    Aug-10 10 1 $52.70 $12.00

    Sep-10 10 0 $52.70 $12.00

    Total For FY 10

    Employee

    Allowance/day

    OtherExpenses

    /day

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    Allowance $5.27 Other Exp $1.20 Return ticket

    0 1 $617.43

    0 1 $284.10

    0 1 $284.10

    $1,185.63

    0 1 $284.10

    0 1 $284.10

    0 1 $284.10

    0 2 $901.53

    0 2 $568.20

    0 2 $568.20

    0 2 $568.20

    0 2 $568.200 3 $1,185.63

    0 3 $852.30

    0 3 $852.30

    0 3 $852.30

    $7,769.17

    0 3 $852.30

    0 3 $852.30

    0 3 $852.30

    0 4 $1,469.73

    0 4 $1,136.40

    0 4 $1,136.40

    0 5 $1,753.830 5 $1,420.50

    0 5 $1,420.50

    0 6 $2,037.93

    0 6 $1,704.60

    0 6 $1,704.60

    $16,341.40

    0 6 $1,704.60

    0 6 $1,704.60

    0 7 $2,322.03

    0 7 $1,988.70

    0 7 $1,988.70

    0 8 $2,606.13

    0 8 $2,272.80

    0 8 $2,272.80

    0 9 $2,890.23

    0 9 $2,556.90

    0 10 $3,174.33

    0 10 $2,841.00

    $28,322.83

    Accomodation(hotel)

    No.of personshavingAccomomdation

    (hotel)

    No.of personshavingAccomomdation

    (Apartmentl)

    Total monthly

    expenses ($)

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    INR 15,000 INR:US$ INR 45

    $18.00 $3.00Accomodation(apartment)

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    On S

    FY Month Total no.of WBNOs M3 M2 M1 M0 P2

    FY 07

    Jul-07 1

    Aug-07 1

    Sep-07 1

    FY 08

    Oct-07 1Nov-07 1

    Dec-07 1

    Jan-08 2

    Feb-08 2

    Mar-08 2

    Apr-08 2

    May-08 2

    Jun-08 3

    Jul-08 3

    Aug-08 3

    Sep-08 3

    FY 09

    Oct-08 3Nov-08 3

    Dec-08 3

    Jan-09 4

    Feb-09 4

    Mar-09 4

    Apr-09 5

    May-09 5

    Jun-09 5

    Jul-09 6

    Aug-09 6

    Sep-09 6

    FY 10

    Oct-09 6Nov-09 6

    Dec-09 7

    Jan-10 7

    Feb-10 7

    Mar-10 8

    Apr-10 8

    May-10 8

    Jun-10 9

    Jul-10 9

    Aug-10 10

    Sep-10 10

    Number of People 1

    Numbe of People o 4

    4Ratio of offsite toonshore

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    ite Head Count

    P1 P0 OG S6 S5 Total M3 M2

    1 1

    1 1

    1 1

    1 11 1

    1 1

    2 2

    2 2

    2 2

    2 2

    2 2

    3 3

    3 3

    3 3

    3 3

    3 33 3

    3 3

    4 4

    4 4

    4 4

    5 5

    5 5

    5 5

    6 6

    6 6

    6 6

    6 66 6

    7 7

    7 7

    7 7

    8 8

    8 8

    8 8

    9 9

    9 9

    10 10

    10 10

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    Off Site Head Count

    M1 M0 P2 P1 P0 OG S1 S0 Total

    1 0 3 4

    1 0 3 4

    1 0 3 4

    1 0 3 41 0 3 4

    1 0 3 4

    1 1 6 8

    1 1 6 8

    1 1 6 8

    1 1 6 8

    1 1 6 8

    1 1 10 12

    1 1 10 12

    1 1 10 12

    1 1 10 12

    1 1 10 121 1 10 12

    1 1 10 12

    1 1 14 16

    1 1 14 16

    1 1 14 16

    2 2 16 20

    2 2 16 20

    2 2 16 20

    2 2 20 24

    2 2 20 24

    2 2 20 24

    2 2 20 242 2 20 24

    2 0 2 24 28

    2 0 2 24 28

    2 0 2 24 28

    3 1 2 26 32

    3 1 2 26 32

    3 1 2 26 32

    3 1 2 30 36

    3 1 2 30 36

    4 3 3 30 40

    4 3 3 30 40

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    Grand Total

    5

    5

    5

    55

    5

    10

    10

    10

    10

    10

    15

    15

    15

    15

    1515

    15

    20

    20

    20

    25

    25

    25

    30

    30

    30

    3030

    35

    35

    35

    40

    40

    40

    45

    45

    50

    50

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    Cash Flow Model for WBNO

    Month 1 Month 2 Month 3

    Adds/Month 25000 5000 6000

    Active Units 25000 29250 34373

    ARPU (less taxes)($) 37 37 37

    Gross Revenue($) 925000 1082250 1271783

    Avg Wholesale Cost/Unit 19.9 19.9 19.9

    Avg Profit/Unit($) 17.10 17.10 17.10

    Avg Margin 46% 46% 46%

    Net Acquisition Cost/Unit 140.00 140.00 140.00

    Net Acquisition Costs 3500000.00 700000.00 840000.00

    Churn 3% 3% 3%

    Maintenance/Unit 3.00 3.00 3.00

    Maintenance cost ($) 75000.00 87750.00 103117.50

    Net Income (3147500) (287575) (355348)

    CUMM Net Income (3147500) (3435075) (3790423)

    Adds/Month -- new activations

    Active Units -- total subscribers

    after factoring in churn.

    ARPU -- Average Revenue Per Unit.

    Avg Wholesale Cost/Unit -- the

    charges incurred from wholesale

    service providers for the retail usage

    (ARPU).

    Avg Gross Profit/Unit -- wholesale

    costs subtracted from retail revenue.

    Avg Gross Margin -- gross profitdivided by sales revenue. Actual

    margins are determined by the

    combination of (1) costs from

    wholesale contracts, (2) revenuesfrom retail offerings.

    Net Acquisition Cost/Unit --

    calculated on next worksheet

    Churn -- subscriber attrition as a

    percentage of the total subscriberbase.

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    Maintenance/Unit -- the ongoing

    direct costs to support the customer,such as Call Center, IVR, and billing.

    CUMM (cumulative) Net Revenue --

    a running total of how much is madeor lost, and does not include other

    start-up costs, G&A, or cash reserve

    requirements; these need to befactored independently.

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    Month 4 Month 5 Month 6 Month 7 Month 8 Month 9

    6480 5098 5709 5862 6506 7879

    39821 43724 48122 52540 57470 63624

    37 37 37 37 37 37

    1473389 1617799 1780509 1943972 2126387 2354102

    19.9 19.9 19.9 19.9 19.9 19.9

    17.10 17.10 17.10 17.10 17.10 17.10

    46% 46% 46% 46% 46% 46%

    140.00 140.00 140.00 140.00 140.00 140.00

    907200.00 713664.00 799303.68 820618.44 910886.47 1103000.71

    3% 3% 3% 3% 3% 3%

    3.00 3.00 3.00 3.00 3.00 3.00

    119463.98 131172.86 144365.61 157619.32 172409.74 190873.17

    (345719) (97152) (120785) (79808) (100561) (205897)

    (4136142) (4233294) (4354079) (4433887) (4534447) (4740344)

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    Month 10 Month 11 Month 12 Month 13 Month 14 Month 15

    8824 9059 9142 10056 11061 10951

    70540 77483 84300 91827 100133 108080

    37 37 37 37 37 37

    2609968 2866863 3119099 3397592 3704937 3998969

    19.9 19.9 19.9 19.9 19.9 19.9

    17.10 17.10 17.10 17.10 17.10 17.10

    46% 46% 46% 46% 46% 46%

    140.00 140.00 140.00 140.00 140.00 140.00

    1235360.80 1268303.75 1279833.79 1407817.16 1548598.88 1533112.89

    3% 3% 3% 3% 3% 3%

    3.00 3.00 3.00 3.00 3.00 3.00

    211618.99 232448.36 252899.92 275480.43 300400.28 324240.69

    (240752) (175796) (91204) (113059) (136718) (9182)

    (4981096) (5156892) (5248096) (5361155) (5497873) (5507055)

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    Month 16 Month 17 Month 18 Month 19 Month 20 Month 21

    11936 13011 12606 13614 11947 12723

    116774 126282 135099 144660 152267 160422

    37 37 37 37 37 37

    4320646 4672420 4998665 5352436 5633887 5935626

    19.9 19.9 19.9 19.9 19.9 19.9

    17.10 17.10 17.10 17.10 17.10 17.10

    46% 46% 46% 46% 46% 46%

    140.00 140.00 140.00 140.00 140.00 140.00

    1671093.05 1821491.43 1764822.81 1906008.63 1672522.57 1781236.54

    3% 3% 3% 3% 3% 3%

    3.00 3.00 3.00 3.00 3.00 3.00

    350322.61 378844.89 405297.18 433981.30 456801.63 481266.94

    (24577) (40920) 140074 133703 474445 480718

    (5531631) (5572552) (5432478) (5298774) (4824329) (4343611)

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    Month 22 Month 23 Month 24 Month 25 Month 26 Month 27

    13550 14431 15369 13850 14611 15415

    169160 178516 188529 196723 205433 214685

    37 37 37 37 37 37

    6258911 6605086 6975583 7278755 7601017 7943345

    19.9 19.9 19.9 19.9 19.9 19.9

    17.10 17.10 17.10 17.10 17.10 17.10

    46% 46% 46% 46% 46% 46%

    140.00 140.00 140.00 140.00 140.00 140.00

    1897016.91 2020323.01 2151644.01 1938962.28 2045605.20 2158113.49

    3% 3% 3% 3% 3% 3%

    3.00 3.00 3.00 3.00 3.00 3.00

    507479.29 535547.55 565587.78 590169.34 616298.66 644054.98

    488136 496750 506619 834834 850998 868945

    (3855475) (3358725) (2852106) (2017273) (1166274) (297329)

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    Month 28 Month 29 Month 30 Month 31 Month 32 Month 33

    16263 17157 18101 19097 18315 19231

    224507 234930 245983 257700 268284 279467

    37 37 37 37 37 37

    8306773 8692393 9101360 9534893 9926515 10340272

    19.9 19.9 19.9 19.9 19.9 19.9

    17.10 17.10 17.10 17.10 17.10 17.10

    46% 46% 46% 46% 46% 46%

    140.00 140.00 140.00 140.00 140.00 140.00

    2276809.73 2402034.26 2534146.15 2673524.19 2564152.74 2692360.38

    3% 3% 3% 3% 3% 3%

    3.00 3.00 3.00 3.00 3.00 3.00

    673522.12 704788.61 737948.09 773099.45 804852.60 838400.45

    888744 910472 934210 960043 1218654 1248122

    591415 1501887 2436097 3396140 4614795 5862916

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    Month 34 Month 35 Month 36 Month 37 Month 38

    20193 21202 22262 23376 24544

    291276 303740 316890 330759 345380

    37 37 37 37 37

    10777194 11238365 11724925

    19.9 19.9 19.9 19.9 19.9

    17.10 17.10 17.10 17.10 17.10

    46% 46% 46% 46% 46%

    140.00 140.00 140.00 140.00 140.00

    2826978.40 2968327.32 3116743.68 3272580.87 3436209.91

    3% 3% 3% 3% 3%

    3.00 3.00 3.00 3.00 3.00

    873826.55 911218.77 950669.57 992276.21 1036141.00

    1280006 1314401 1351403 1391117 1433653

    7142923 8457324 9808727 11199844 12633497

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    Month 39 Month 40 Month 41 Month 42 Month 43

    25772 5000 5000 5000 5000

    360790 354967 349318 343838 338523

    37 37 37 37 37

    19.9 19.9 19.9 19.9 19.9

    17.10 17.10 17.10 17.10 17.10

    46% 46% 46% 46% 46%

    140.00 140.00 140.00 140.00 140.00

    3608020.41 700000.00 700000.00 700000.00 700000.00

    3% 3% 3% 3% 3%

    3.00 3.00 3.00 3.00 3.00

    1082371.49 1064900.35 1047953.34 1031514.74 1015569.29

    1479126 4305032 4225381 4148119 4073176

    14112623 18417654 22643035 26791154 30864330

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    Month 44 Month 45 Month 46 Month 47 Month 48

    5000 5000 5000 5000 5000

    333367 328366 323515 318810 314246

    37 37 37 37 37

    19.9 19.9 19.9 19.9 19.9

    17.10 17.10 17.10 17.10 17.10

    46% 46% 46% 46% 46%

    140.00 140.00 140.00 140.00 140.00

    700000.00 700000.00 700000.00 700000.00 700000.00

    3% 3% 3% 3% 3%

    3.00 3.00 3.00 3.00 3.00

    1000102.21 985099.15 970546.17 956429.79 942736.89

    4000480 3929966 3861567 3795220 3730863

    34864810 38794776 42656343 46451563 50182427

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    Acquisition costs Amount in USD

    Marketing 15

    Distribution 25

    CPE costs 100

    Total 140