SELECTION OF SYSTEM INTEGRATOR FOR IMPLEMENTATION OF SMART TICKETING SYSTEM FOR STUs OF KARNATAKA

FINANCIAL BID FORM

Bidder name (enter bidder / consortium name)

Date DD-MMM-YYYY

HOW TO FILL THIS FORM

1. Enter your three quotes only in the YELLOW cells below (rows a, b, c). Do not edit any other cell.

2. Capital cost is your all-in price for the system build; it is paid by KSRTC on the fixed milestone schedule (see "Basis of Evaluation").

3. Card cost is your price per card (₹/card); reimbursed at par on the fixed tranche schedule.

4. Verified-tap fee is your ₹ per verified tap; it recovers your opex and margin over the contract.

5. The Bid Parameter (NPV of total cost to Government) computes automatically. The lowest NPV across bidders is L1.

YOUR BID (enter values in yellow cells)

# Parameter Your quote Unit Guidance

a All in Capital cost — system build (Entire System) ₹ Crore All-in build price. Milestone-paid;

b Interoperable Shakti Smart Card cost ₹ per card Per-card price. Reimbursed at par (1 Crore cards).

c Verified-tap fee ₹ per tap Recovers opex + margin over the term.

YOUR BID PARAMETER (computed automatically — do not edit)

NPV of capital (milestone-discounted) 0.00 ₹ Crore

NPV of card reimbursement 0.00 ₹ Crore

NPV of per-tap fee 0.00 ₹ Crore

BID PARAMETER — NPV of total cost to Government 0.00 ₹ Crore

(memo) Nominal total cost, undiscounted 0.00 ₹ Crore

BASIS OF EVALUATION — FIXED PARAMETERS (read-only, set by KSRTC)

Month % share Milestone

2 10.0% M1 Design sign-off

3 20.0% M2 Supply HW & SAM

4 7.5% M3A Go-Live Corporation 1

5 7.5% M3B Go-Live Corporation 2

6 7.5% M3C Go-Live Corporation 3

6 7.5% M3D Go-Live Corporation 4

9 10.0% M4 Successful Completion of Pilot

12 10.0% M5 Succesful Generation of Report

18 20.0% M6 Final Acceptance (incl. retention)

The sequence of Go Live for Corporation shall be discussed and finalised at the time of Design Sign Off

2) CARD REIMBURSEMENT TRANCHES

Tranche 1 — On Supply and Successful Validation (Yr 1) 50.0%

Tranche 2 — on First Anniversary of Successful Validation (Yr 2) 50.0%

3) DISCOUNT RATE

Discount rate (WACC) for NPV 10.9%

Cards to be supplied (Crore) 1.00

5) VERIFIED TAPS BY YEAR (Crore taps) — KSRTC estimate

Year Verified taps (Cr)

Total taps 1,925.00

Total taps (for nominal memo) 1,925.00

Taps are a KSRTC estimate used to size the tap-fee NPV; they do not form part of the bidder’s quote.

6) EXPANDED CASH FLOW — GOVERNMENT OUTFLOWS (auto-populates from bidder quotes)

Government outflow (₹ Cr) Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Total

Capital — milestone payments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Card reimbursement (at par) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Total outflow — nominal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Discount factor (@ WACC, year-end) 0.9021 0.8137 0.7340 0.6621 0.5973 0.5388 0.4860

Discounted outflow (NPV) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

RECONCILIATION TO BID PARAMETER

NPV — annual table above (year-end discounting) 0.00

Timing adjustment (exact-month Bid Parameter vs year-end annual table) 0.00

BID PARAMETER — NPV of total cost to Government 0.00 ← must equal Bid Form

The annual cash flow groups payments by contract year (Year 1 = months 1–12) and discounts each year at year-end. Capital milestones are actually certified mid-year (by month) and card Tranche 2 falls in Year 2; the Bid Parameter captures the exact timing. The timing-adjustment line reconciles the year-end annual table to the exact Bid Parameter.

ILLUSTRATIVE BID COMPARISON — LOWEST NPV WINS (L1)

Three sample bids evaluated on the same basis. This is for illustration; actual bids are entered on the Bid Form. Lowest NPV of total cost to Government = L1.

Bid parameter Bidder A Bidder B Bidder C

QUOTES (editable)

a) Capital cost (₹ Cr) 107.37 112.00 100.00

b) Card cost (₹/card) 75 72 75

c) Verified-tap fee (₹/tap) 0.1364 0.1450 0.1400

NPV COMPONENTS (₹ Cr, @ WACC)

NPV — capital (milestones) 100.30 104.62 93.41

NPV — card reimbursement 64.34 61.77 64.34

NPV — per-tap fee 177.57 188.77 182.26

TOTAL NPV COST TO GOVT 342.21 355.15 340.01

Rank (1 = lowest NPV = L1) 2 3 1

(memo) Nominal total cost 444.94 463.13 444.50

RESULT L1 — lowest cost to Government Bidder C

Winning NPV cost (₹ Cr) 340.01

Margin over 2nd-lowest (₹ Cr) 2.20

Illustration: Bidder C wins as L1 on the lowest NPV of total cost to Government (₹343.3 Cr), edging Bidder A (₹345.5 Cr) by ₹2.2 Cr. C does not quote the lowest on any single line — its card cost (₹75) matches A and its tap fee (₹0.140) sits between the other two — but its lowest capital cost (₹100 Cr) pulls its total NPV below the rest. A single-variable bid would have missed this; the three-parameter NPV captures the full trade-off across capital, card and tap, as a delivery contract should.

ILLUSTRATION — PAYMENT SCHEDULE

A) ILLUSTRATIVE QUOTES AND FIXED PARAMETERS

# Parameter Value Unit

a Capital cost — system build 100.00 ₹ Crore

b Card cost 75.00 ₹ per card

c Verified-tap fee 0.1400 ₹ per tap

Discount rate (WACC) for NPV 10.9% % p.a.

Cards to be supplied 1.00 Crore cards

1) CAPITAL COST — MILESTONE PAYMENT SCHEDULE

# Milestone Payment condition (indicative) Month Contract year % of capital Amount payable (₹ Cr) Cumulative paid (₹ Cr) Cumulative % Discount factor Present value (₹ Cr)

1 M1 Design sign-off Approval by KSRTC of system design, card specification, SAM and key-management design 2 1 10.0% 10.00 10.00 10.0% 0.9830 9.83

2 M2 Supply HW & SAM Delivery, inspection and acceptance of POS, SAMs (Where required), Printers and central-system hardware 3 1 20.0% 20.00 30.00 30.0% 0.9746 19.49

3 M3A Go-Live Corporation 1 Go-live certificate issued for Corporation 1 4 1 7.5% 7.50 37.50 37.5% 0.9662 7.25

4 M3B Go-Live Corporation 2 Go-live certificate issued for Corporation 2 5 1 7.5% 7.50 45.00 45.0% 0.9580 7.18

5 M3C Go-Live Corporation 3 Go-live certificate issued for Corporation 3 6 1 7.5% 7.50 52.50 52.5% 0.9498 7.12

6 M3D Go-Live Corporation 4 Go-live certificate issued for Corporation 4 6 1 7.5% 7.50 60.00 60.0% 0.9498 7.12

7 M4 Successful Completion of Pilot Successful completion of the pilot across the Full System 9 1 10.0% 10.00 70.00 70.0% 0.9256 9.26

8 M5 Succesful Generation of Report Successful generation of MIS/settlement reports from the central system 12 1 10.0% 10.00 80.00 80.0% 0.9021 9.02

9 M6 Final Acceptance (incl. retention) Final acceptance after stabilisation across all four corporations; includes release of retention 18 2 20.0% 20.00 100.00 100.0% 0.8567 17.13

8 Total — capital 100.0% 100.00 93.41

2) CARD COST — REIMBURSEMENT TRANCHES (AT PAR)

# Tranche Payment condition Month Year (for NPV) % of card cost Amount payable (₹ Cr) Cumulative paid (₹ Cr) Cumulative % Discount factor Present value (₹ Cr)

1 Tranche 1 On supply of cards and successful validation — 1 50.0% 37.50 37.50 50.0% 0.9021 33.83

2 Tranche 2 On first anniversary of successful validation — 2 50.0% 37.50 75.00 100.0% 0.8137 30.51

Total — card reimbursement 100.0% 75.00 64.34

Amount (₹ Cr) = card cost (₹/card) × cards (Crore) × tranche %.

3) VERIFIED-TAP FEE — ANNUAL PAYMENTS

# Contract year Payment condition Year (for NPV) Verified taps (Cr) Amount payable (₹ Cr) Cumulative paid (₹ Cr) Discount factor Present value (₹ Cr)

1 Year 1 Monthly in arrears on verified taps recorded in the central system 1 275.00 38.50 38.50 0.9021 34.73

2 Year 2 Monthly in arrears on verified taps recorded in the central system 2 275.00 38.50 77.00 0.8137 31.33

3 Year 3 Monthly in arrears on verified taps recorded in the central system 3 275.00 38.50 115.50 0.7340 28.26

4 Year 4 Monthly in arrears on verified taps recorded in the central system 4 275.00 38.50 154.00 0.6621 25.49

5 Year 5 Monthly in arrears on verified taps recorded in the central system 5 275.00 38.50 192.50 0.5973 22.99

6 Year 6 Monthly in arrears on verified taps recorded in the central system 6 275.00 38.50 231.00 0.5388 20.74

7 Year 7 Monthly in arrears on verified taps recorded in the central system 7 275.00 38.50 269.50 0.4860 18.71

Total — verified-tap fee 1,925.00 269.50 182.26

Tap fee is paid monthly; for NPV each year's total is discounted at year-end, as in the Bid Parameter. Tap volumes are the KSRTC estimate and actual payments follow actual verified taps.

4) CONSOLIDATED PAYMENT SCHEDULE BY CONTRACT YEAR (₹ Crore, nominal)

Payment stream Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Total Share

Capital — milestone payments 80.00 20.00 0.00 0.00 0.00 0.00 0.00 100.00 22.5%

5) NPV SUMMARY AND RECONCILIATION TO BID PARAMETER

Component NPV per this illustration (₹ Cr) Bid Form method (₹ Cr) Difference Nominal (₹ Cr)

NPV of capital (milestone-discounted) 93.41 93.41 0.0000 100.00

NPV of card reimbursement 64.34 64.34 0.0000 75.00

NPV of verified-tap fee 182.26 182.26 0.0000 269.50

BID PARAMETER — NPV of total cost to Government 340.01 340.01 0.0000 444.50

Check — illustration agrees with Bid Form method OK — agrees

Check — nominal total equals consolidated schedule OK — agrees

1. This sheet is an illustration only. Actual payments are computed on the quoted values of the Successful Bidder (L1) and the actual dates on which each milestone is certified by KSRTC.

2. Capital cost is paid only against the milestones in section 1; it is not recovered through the verified-tap fee.

3. Card cost is reimbursed at par in two tranches of 50% each, as in section 2.

4. Discounting mirrors the Bid Parameter: capital at the exact milestone month, card tranches and tap fee at year-end, all at the WACC in the Bid Form.

5. The Bid Form's annual cash-flow table (section 6 there) groups months 0–11 as "Yr 0"; this sheet groups by contract year (months 1–12 = Year 1). The grouping differs; the NPV is identical.

6. Amounts are before taxes; tax treatment as per [RFP clause reference].