TIRUPATI URBAN DEVELOPMENT AUTHORITY - TIRUPATHI ...
TIRUPATI URBAN DEVELOPMENT AUTHORITY - TIRUPATHI ...
TIRUPATI URBAN DEVELOPMENT AUTHORITY - TIRUPATHI ...
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<strong>TIRUPATI</strong> <strong>URBAN</strong> <strong>DEVELOPMENT</strong> <strong>AUTHORITY</strong><br />
REQUEST FOR PROPOSAL<br />
<strong>DEVELOPMENT</strong> OF INTEGRATED TOURISM TEMPLE<br />
TOWNSHIP ON PUBLIC PRIVATE PARTNERSHIP BASIS<br />
May 2007<br />
Tirupati Urban Development Authority<br />
(Govt. of Andhra Pradesh)
DISCLAIMER<br />
The information contained in this Request for Proposal (“RFP”) document or subsequently<br />
provided to Bidder(s), whether verbally or in documentary form by or on behalf of the Tirupati<br />
Urban Development Authority, (“TUDA” or “Government Representatives”) or any of their<br />
employees or advisors, is provided to Bidder(s) on the terms and conditions set out in this RFP<br />
document and any other terms and conditions subject to which such information is provided.<br />
This RFP document is not an agreement and is not an offer or invitation by the Government<br />
Representatives to any other party. The purpose of this RFP document is to provide interested<br />
parties with information to assist the formulation of their Proposal. The RFP document does not<br />
purport to contain all the information each Bidder may require. Neither TUDA, nor their<br />
employees or consultants make any representation or warranty as to the accuracy, reliability or<br />
completeness of the information in this RFP and it is not possible for TUDA to consider the<br />
investment objectives, financial situation and particular needs of each party who reads or uses<br />
this RFP. Certain prospective Bidders may have a better knowledge of the Project than others.<br />
Each prospective Bidder should conduct his own investigations and analysis and check the<br />
accuracy, reliability and completeness of the information in this RFP and obtain independent<br />
advice from appropriate sources.<br />
Neither TUDA nor their employees or consultants will have any liability to any prospective<br />
Bidder or any other person under the law of contract, tort, the principles of restitution or unjust<br />
enrichment or otherwise for any loss, expense or damage which may arise from or be incurred or<br />
suffered in connection with anything contained in this RFP, any matter deemed to form part of<br />
this RFP, the award of the Project, the information and any other information supplied by or on<br />
behalf of TUDA or their employees, any consultants or otherwise arising in any way from the<br />
selection process for the Project.<br />
TUDA reserves the right to reject any or all of the Bids submitted in response to this Request for<br />
Proposal at any stage without assigning any reasons whatsoever<br />
TUDA reserves the right to change any or all of the provisions of this Request for Proposal. Such<br />
changes would be intimated to all parties procuring this Request for Proposal.
TABLE OF CONTENTS<br />
GLOBAL INVITATION FOR PROPOSAL............................................................................................... 1<br />
DEFINITIONS............................................................................................................................................... 3<br />
INTRODUCTION ......................................................................................................................................... 6<br />
SELECTION PROCESS............................................................................................................................. 8<br />
PROCEDURES TO BE FOLLOWED..................................................................................................... 14<br />
EVALUATION PROCESS........................................................................................................................ 24<br />
TECHNICAL AND FINANCIAL CAPABILITY EVALUATION........................................................... 31<br />
TECHNO-BUSINESS PROPOSAL EVALUATION ............................................................................. 35<br />
COMMERCIAL OFFER EVALUATION ................................................................................................. 38<br />
PRINCIPLES OF THE CONSORTIUM MEMORANDUM OF UNDERSTANDING ........................ 40<br />
FORMAT OF THE COVERING LETTER .............................................................................................. 41<br />
DETAILS OF BIDDER.............................................................................................................................. 43<br />
FORMAT OF LETTER OF ACCEPTANCE .......................................................................................... 44<br />
PROFORMA OF BANK GUARANTEE FOR BID SECURITY........................................................... 46<br />
GUIDELINES FOR PROVIDING INFORMATION RELATED TO EXPERIENCE & CAPACITY . 49<br />
INFORMATION FORMAT FOR TECHNICAL CAPABILITY ASSESSMENT................................. 52<br />
TECHNO-BUSINESS PROPOSAL ........................................................................................................ 64<br />
COMMERCIAL OFFER FORMAT.......................................................................................................... 66<br />
SITE MAP ................................................................................................................................................... 68<br />
SAMPLE CALCULATIONS FOR COMMERCIAL OFFER ................................................................ 69<br />
EVALUATION FINANCIAL MODEL ...................................................................................................... 71<br />
DRAFT <strong>DEVELOPMENT</strong> AGREEMENT............................................................................................... 72<br />
PROPOSAL BY ORIGINAL PROJECT PROPONENT ...................................................................... 73
Tirupathi Urban Development Authority<br />
<strong>TIRUPATI</strong> <strong>URBAN</strong> <strong>DEVELOPMENT</strong> <strong>AUTHORITY</strong><br />
GLOBAL INVITATION FOR PROPOSAL<br />
Development of Integrated Township on Public Private Partnership Basis<br />
1. Tirupati Urban Development Authority [TUDA] has been formed by the Government of<br />
Andhra Pradesh to coordinate and carry out planned development of the Tirupati town and<br />
surrounding areas. As per the provisions under section 13(1) of A. P. Urban areas (Dev)<br />
Act 1975, TUDA has been notified with Tirupati town and nearby villages spreading over<br />
Tirupati Urban, Tirupati rural, Renigunta and Chandragiri Mandals.<br />
2. TUDA has prepared a Master Plan covering 847.95 sq kms., with Region and Zonal Plan<br />
for the Tirupati Town. TUDA has also prepared accurate base map for the region using<br />
IKONOS Satellite images for the first time in India.<br />
3. TUDA has received a proposal from a developer (Original Project Proponent) for<br />
development of Integrated Tourism Temple Township having world-class state-of-the-art<br />
four star hotel, dormitories, entertainment complex, banquet hall, education facilities,<br />
commercial space, residences, play ground and green space under Public Private<br />
Partnership framework. The Integrated Tourism Temple Township is proposed to be<br />
developed over 140 acres of land at Surappakasam village. The proposal has been<br />
submitted under the Swiss Challenge Approach enabled u/s 19(ii) of The Andhra Pradesh<br />
Infrastructure Development Enabling Act, 2001.<br />
4. TUDA now invites interested and capable parties to develop the proposed Integrated<br />
Tourism Temple Township and submit their counter proposal under the Swiss Challenge<br />
Approach.<br />
5. For submission, evaluation and selection of a Developer for the Project a ‘Single Stage’<br />
process is planned to be followed i.e. there will not be any separate Pre-Qualification Stage<br />
for shortlisting of Bidders. However, the Bidders would be required to meet the minimum<br />
threshold technical and financial capability criteria and qualify for undertaking the Project as<br />
set out in this Request for Proposal document (the “RFP”). This qualification assessment<br />
would be carried out as part of the current bidding and evaluation process. Only those<br />
Bidders that possess the minimum threshold Technical & Financial capability shall be<br />
considered for detailed technical evaluation. Only Bidders who clear the minimum threshold<br />
in detailed technical evaluation would have their Commercial Offer opened and evaluated.<br />
6. The interested parties would be required to submit detailed township development<br />
proposal. The salient details of the proposed township, technical and financial eligibility<br />
criteria, selection process and timetable are given in the RFP. Interested parties may obtain<br />
the RFP from the address given below up to June 17, 2007 on all working days between<br />
1000 hrs and 1700 hrs IST by written request. The request must clearly state “Request for<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
Proposal for Selection of a Private Developer for Integrated Tourism Temple Township<br />
Project at Tirupati in Andhra Pradesh” and be accompanied by a non-refundable fee of<br />
Indian Rupees (“Rs”) 50,000 (Rupees Fifty Thousand only) by way of a crossed demand<br />
draft (non refundable) drawn in favour of ‘Tirupati Urban Development Authority’, payable<br />
on any scheduled bank in Tirupati.<br />
7. TUDA will not be responsible for any delay, loss or non-receipt of RFP sent by post /<br />
courier. Further, TUDA shall not be responsible for any delay in receiving the Bid and<br />
reserves the right to accept/ reject any or all applications without assigning any reason<br />
thereof.<br />
8. The RFP contains information about the Project, bidding process, Bid submission,<br />
qualification, Techno-Business Proposal and Commercial Offer requirements. The RFP is<br />
also available on the TUDA website (http://www.tuda.in). Bidders, who download the RFP<br />
document from the website, will be required to pay the non-refundable fee of Rs. 50,000<br />
(Rupees Fifty Thousand only), by way of a crossed Demand Draft (non-refundable) drawn<br />
in favour of ‘Tirupati Urban Development Authority’, payable on any scheduled bank in<br />
Tirupati, at the time of the submission of the Bid.<br />
9. Bid submissions must be received no later than 1500 hrs on June 18,2007 in the manner<br />
specified in the RFP at the address given below:<br />
Address for Communication:<br />
Vice Chairman<br />
Tirupati Urban Development Authority<br />
Tirupati - 517501<br />
Tel.: +91-877-2225803<br />
Fax: +91-877-2225730<br />
Email: vctuda@gmail.com<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
SECTION 1<br />
DEFINITIONS<br />
Acre<br />
Acre is an area of 4046.9 square metres.<br />
Bid/ Proposal<br />
Bid shall mean the covers 1, 2, and 3 submitted by the Bidders in response to this RFP<br />
Document.<br />
Bidder/ Applicant<br />
Bidding Company or Bidding Consortium, as defined below that has submitted a Bid in<br />
response to this Document.<br />
Bidding Company<br />
If the Bid for the Project is submitted by a single corporate entity/partnership firm, it shall<br />
be referred to as the Bidding Company.<br />
Bidding Consortium<br />
If the Bid for the Project is submitted jointly by more than one entity, then this group of<br />
entities shall be referred to as a Bidding Consortium.<br />
Bid Security<br />
Bid Security shall have a meaning as referred in Section 4.4 of this Document.<br />
Category – II Projects<br />
Under the Andhra Pradesh Infrastructure Development Enabling Act, 2001, they are the<br />
projects where:<br />
(i) Government or Government Agency will be required to provide asset support;<br />
(ii) financial incentives in the form of contingent liabilities or direct financial support<br />
are required to be provided;<br />
(iii) exclusive rights are conferred on the Developer;<br />
(iv) extensive linkages i.e. support facilities for the project such as water connection<br />
etc. are needed.<br />
Commercial Offer<br />
The commercial offer submitted by the Bidder under Section 8.<br />
Consortium Member<br />
Each entity in the Bidding Consortium shall be referred to as a Consortium Member.<br />
Evaluation Financial Model<br />
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Nominal business plan issued by TUDA to Bidders under Section 8.2 for the purpose of<br />
submitting their Commercial Proposal.<br />
Good Industry Practice<br />
Good Industry Practice shall mean practices, methods, techniques and standards as<br />
changed from time to time that are generally accepted for use in the construction and real<br />
estate industry.<br />
Lead Consortium Member (LCM)<br />
In case of a Bidding Consortium, the Lead Consortium Member (LCM) shall be that<br />
Consortium Member vested with the prime responsibility of developing the Project. The<br />
Lead Consortium Member shall necessarily make the maximum equity contribution, and<br />
this equity contribution shall not be less than 51 % of the equity contribution held by the<br />
Developer in the Project Company. The LCM must be a corporate entity or partnership<br />
firm. The MOU to be entered into between the Consortium Members as per the pro forma<br />
presented in Exhibit 1 shall reflect the above. The LCM shall be the authorised<br />
representative of the Bidding Consortium and shall be liable to TUDA for all the<br />
obligations of the Bidder.<br />
Letter of Acceptance<br />
Letter of Acceptance shall have a meaning as referred in Exhibit – 4: FORMAT OF<br />
LETTER OF ACCEPTANCE of this Document.<br />
Letter of Award<br />
This would mean as defined in Section 5.10.<br />
Preferred Proposal<br />
The proposal submitted by a Bidder whose development plan is acceptable and which<br />
makes the best financial offer to TUDA under this RFP.<br />
Project<br />
The Project refers to the designing, financing, developing, building, marketing, operating<br />
and maintaining Integrated Tourism Temple Township in Tirupati. The integrated tourism<br />
temple township shall have world-class state-of-the-art four star hotel, dormitories,<br />
entertainment complex, banquet hall, education facilities, commercial space, residences,<br />
play ground and green space.<br />
Project Company<br />
Project Company shall mean the corporate entity to be floated by the Selected Developer<br />
for implementation of the Project.<br />
Responsiveness/Non-Responsive<br />
Responsiveness/Non Responsive shall mean as referred in Section 5.6 of this Document.<br />
RFP Document /RFP<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
This Request for Proposal document.<br />
Selected Developer<br />
The person selected by TUDA for development of the township and execution of<br />
Development Agreement after the Swiss Challenge Process.<br />
Swiss Challenge Method<br />
Under the Andhra Pradesh Infrastructure Development Enabling Act, 2001, when a<br />
Private Sector Participant (Original Project Proponent) submits an unsolicited or suomotu<br />
proposal and draft contract principles for undertaking a category II Project, not<br />
already initiated by the Government Agency or the Local Authority and the Government<br />
Agency or the Local Authority then invites competitive counter proposals in such manner<br />
as may be Prescribed by the Government. The proposal and contract principles of the<br />
Original Project Proponent would be made available to any interested Bidders; however,<br />
proprietary information contained in the original proposal shall remain confidential and will<br />
not be disclosed. The Bidders then will have an opportunity to better the Original Project<br />
Proponent's proposal. If the Government finds one of the competing counter proposals<br />
more attractive, then the Original Project Proponent will be given the opportunity to match<br />
the competing counter proposal and win the Project. In case the Original Project<br />
Proponent is not able to match the more attractive and competing counter proposal, the<br />
Project is awarded to the Private Sector Participant, submitting the more attractive<br />
competing counter proposal;<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
SECTION 2<br />
INTRODUCTION<br />
2.1 Tirupati<br />
Tirupati is a sacred place of pilgrimage and is situated at a height of 500 feet above the<br />
mean sea level in Chittoor district of Andhra Pradesh. Tirupati is famous for the temple of<br />
Lord Venkateswara, which is the richest shrine in the Hindu world and is the second<br />
richest religious shrine after Vatican. It is an important pilgrimage place with pilgrims<br />
climbing several hills to arrive at the hilltop town of Tirumala where the famous temple is<br />
situated. It is estimated that more that 50,000 people visit the temple everyday<br />
Tirupati city is the seat of the administration of Tirumala-Tirupati Devasthanam’s<br />
management as several of its offices are located here. It derives its importance and<br />
growth mainly due to its location as a pilgrim centre. It has also grown up as an important<br />
centre of education with the location of Sri Venkateswara University, Sri Padmavathi<br />
Mahila University, N.G. Ranga Agriculture University, Veterinary, Medical and several<br />
engineering and educational colleges.<br />
The population of Tirupati city is 227,657 (2001 census) spread over an area of 16.28<br />
square kilometers. Tirupati city is easily accessible by train and road. Renigunta junction<br />
on the way to Tirupati is on the Mumbai-Raychur-Chennai broad gauge line. It is also<br />
connected to the capitals of three southern states by road. It is about 580 kilometers from<br />
Hyderabad; 137 kilometers from Chennai and 248 kilometers from Bangalore. The district<br />
headquarter Chittoor is about 69 kilometers south-west of Tirupati.<br />
2.2 Project<br />
Tirupati being one of the most visited holy places in entire India requires a huge<br />
supplementary infrastructure to provide a better and superior tourism and religious<br />
experience to the tourists.<br />
TUDA has the freehold rights over land of about 140 acres at Surappakasam village,<br />
near Gazulamandyam, approx 9 km from Tirupati city. A site map is given in Exhibit 11.<br />
Tirupati Urban Development Authority now plans to develop an Integrated Tourism<br />
Temple Township, over this land, with state of the art infrastructure designed to support<br />
the tourist population of Tirupati along with world class four-star hotel, commercial space,<br />
community hall, prayer complex, entertainment malls, dormitories, combined with<br />
luxurious residential neighborhoods woven throughout the area, providing the best in<br />
tourist enjoyment and living environment. A road of 3 kms connecting the Integrated<br />
Tourism Temple Township to the highway at an estimated cost of Rs 6 crores would also<br />
be required to be built by the developer.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
Integrated Tourism Temple Township will be a fully integrated community with hotel,<br />
tourist attractions, secluded luxury residences, sophisticated high rises, school,<br />
commercial regions, recreational facilities and green space.<br />
TUDA now invites interested and capable parties to develop the proposed Integrated<br />
Tourism Temple Township on Public Private Partnership basis. The proposal for the<br />
Integrated Tourism Temple Township has been submitted to TUDA by a developer and is<br />
now being thrown open to bidding through Swiss Challenge Route. TUDA proposes to<br />
select the developer to implement the project through this route.<br />
The Project is proposed to be developed through private sector participation. The<br />
Selected Developer would be required to commercially market the Project and, as<br />
enabled under the Development Agreement, recover the investment through the sale<br />
proceeds. The Selected Developer shall have to obtain all the clearances/ approvals etc.<br />
required for development of the township.<br />
2.3 Contractual Structure<br />
The selected developer would enter into a Development Agreement with TUDA for<br />
implementation of the Project on Public Private Partnership basis. The successful bidder<br />
shall be responsible for the design, construction and subsequent maintenance of the<br />
Project in accordance with the proposal submitted by it and accepted by TUDA. The<br />
proposed draft of Development Agreement is enclosed as Exhibit 14.<br />
2.4 Commercial Consideration<br />
The bidding process involves the interested parties to make their Commercial Offer to<br />
TUDA. The Commercial Offer would be in terms of fixed amount of monies paid and/ or<br />
revenue sharing with TUDA.<br />
2.5 Permitted Development<br />
The Project Company shall adhere to the development control rules, FSI limits, statutory<br />
requirements, laws of the land, the principles of Good Industry Practice, and any other<br />
norms, which are applicable from time to time.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
SECTION 3<br />
SELECTION PROCESS<br />
3.1 Introduction<br />
3.1.1 The Tirupati Urban Development Authority (TUDA) has received a proposal from a<br />
developer under Public Private Partnership (PPP) format to develop an Integrated<br />
Tourism Temple Township in Tirupati. The Integrated Tourism Temple Township is<br />
proposed to have world-class state-of-the-art four star hotel, dormitories, entertainment<br />
complex, banquet hall, education facilities, commercial space, residences, play ground<br />
and green space. The proposal has been accepted under “Swiss Challenge Method” with<br />
the developer identified as Initial Project Proponent under The Andhra Pradesh<br />
Infrastructure Development Enabling Act, 2001,<br />
3.1.2 This RFP is for designing, planning, financing, marketing, developing, constructing,<br />
operating, maintaining and administrating the Integrated Tourism Temple Township in<br />
Tirupati at Surappakasam Village of Renigunta Mandal of Chittoor District, Andhra<br />
Pradesh under terms and conditions specified in the Development Agreement.<br />
3.1.3 Under the “Swiss Challenge Method”, TUDA now invites detailed township development<br />
proposal from internationally reputed developers (can bid in consortium) under Public<br />
Private Partnership format. Such Bidders, if meeting the minimum qualification criteria,<br />
will be treated as Respondents for the proposal of Original Project Proponents under<br />
Swiss Challenge Method under The Andhra Pradesh Infrastructure Development<br />
Enabling Act, 2001.<br />
3.2 Bidding Process<br />
3.2.1 For selecting a party to undertake the above Project, TUDA plans to carryout a single<br />
stage bidding process, wherein there will not be a separate pre-qualification phase and<br />
the interested parties are required to submit only one Proposal. The current Bid is to be<br />
submitted in four parts, viz.:<br />
1. Other Submissions<br />
2. Cover 1: Technical and Financial Capability<br />
3. Cover 2: Techno-Business Proposal<br />
4. Cover 3: Commercial Offer<br />
The evaluation of the Proposals would be carried out in four stages. The first stage would<br />
involve a test for responsiveness based on Other Submissions. Those proposals found to<br />
be responsive would be evaluated for the next stage: Qualification Stage. In the<br />
Qualification Stage, the Technical and Financial Capability (Cover 1) comprising<br />
information of the parties on their technical and financial capability for undertaking the<br />
Project would be evaluated. Based on evaluation of this stage, only those Proposals that<br />
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Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
meet the minimum threshold Technical and Financial capabilities as set out in this RFP<br />
for the Project would be qualified and their Techno-Business Proposal (Cover 2) would<br />
be opened for evaluation. The qualified Bidders would be evaluated for their business<br />
plan and Bidders who clear the minimum threshold in detailed technical evaluation would<br />
have their Commercial Offer (Cover 3) opened and evaluated.<br />
3.2.2 The responsive Proposals and Bidders found to possess minimum threshold technical<br />
and financial capabilities will undergo a detailed technical evaluation. On the basis of this<br />
technical evaluation process, TUDA would open the Commercial Offer of the shortlisted<br />
Bidders. The Commercial Offer which offers best financial terms to TUDA shall be<br />
considered as the Preferred Proposal. The Preferred Proposal, so submitted, shall be<br />
compared with the proposal submitted by Original Proposal Proponent. If the Preferred<br />
Proposal is found better, the Original Proposal Proponent shall be given a chance to<br />
match the Preferred Proposal. If the Original Proposal Proponent matches the Preferred<br />
Proposal, the Project shall be awarded to the Original Project Proponent. Failing to match<br />
the best proposal would lead to award of the Project to the developer who submitted the<br />
Preferred Proposal, and the Original Proposal Proponent shall be compensated by the<br />
Selected Developer to the extent of Rs 40 lacs (Indian Rupees Forty Lacs only) for the<br />
resources invested in preparation of the proposal. TUDA will issue a Letter of Award to<br />
the Selected Developer.<br />
3.2.3 All Bidders are required to submit their Proposal in accordance with the guidelines set<br />
forth in this RFP. In order to promote consistency among Proposals and minimize<br />
potential misunderstandings regarding how Bidders’ Proposals will be interpreted by<br />
TUDA, the format in which Bidders will specify the fundamental aspects of their<br />
Proposals has been broadly outlined in this RFP. This RFP deals with identification of<br />
Selected Developer and at the end of the process, TUDA expects to announce the<br />
Selected Developer for implementing the Project.<br />
3.2.4 The Bidders are expected to examine the Project in detail and carry out such studies as<br />
may be required to submit their detailed proposals for the implementation of the Project.<br />
No demand assessment studies have been undertaken by TUDA. The onus vests with<br />
the Bidders to undertake demand assessment or any other studies that they might find<br />
necessary for the Project.<br />
3.2.5 TUDA reserves the right not to follow up this RFP and terminate the entire selection<br />
process without any obligation to any of the Applicants / Bidders.<br />
3.2.6 The terms used in this RFP and not defined herein shall have the meaning ascribed<br />
thereto in the Development Agreement (Exhibit 14 of this RFP).<br />
3.2.7 Following the issue of the Letter of Award, the Selected Developer shall be required to<br />
form a Company (hereinafter referred to as the “Contractor”). The Development<br />
Agreement shall be executed between the Contractor, Selected Developer and TUDA. In<br />
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Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
case the Selected Developer is a Consortium, the equity holding of the Consortium<br />
members in the Contractor would be as per the requirements of this RFP.<br />
3.2.8 The principal contract between TUDA, the Contractor and the Selected Developer will be<br />
the Development Agreement, a draft of which is provided as Exhibit 14 of this RFP.<br />
3.3 Eligible Bidders<br />
3.3.1 The Bidder may be a single entity (hereinafter referred to as ‘Bidding Company’) or a<br />
group of entities (hereinafter referred to as ‘Bidding Consortium’), coming together to<br />
implement the Project. The term Bidder used hereinafter would therefore apply to both<br />
Bidding Company and a Consortium. The purchaser of the RFP document must be the<br />
Bidder itself or a member of the Bidding Consortium submitting the Proposal. In case the<br />
Bidder is a Consortium, it must comply with the additional requirements for Bidding as a<br />
Consortium as specified in Section 3.4 of this RFP.<br />
3.3.2 At any point in time during the Bidding Process, if required by TUDA, it is the Bidders’<br />
responsibility to provide required evidence of their eligibility as per the terms of the RFP,<br />
to the satisfaction of TUDA.<br />
3.3.3 One company, single or Joint Venture firm shall not be eligible to submit more than one<br />
bid, either individually or as a member of a Bidding Consortium for this Project.<br />
3.3.4 All Bids must be submitted, duly signed by the Bidder (or a member authorised to sign<br />
the Proposal on behalf of the Bidding Consortium) under the covering letter for Proposal<br />
submission, the format for which is provided at Exhibit 2 of this RFP.<br />
3.3.5 The Bidding Company or the Bidding Consortium, as the case may be, would be liable for<br />
the execution of the Project in accordance with the terms of the Development Agreement.<br />
3.4 Additional requirements for Proposals submitted by a Bidding<br />
Consortium<br />
3.4.1 Proposal submitted by a Bidding Consortium should comply with the following additional<br />
requirements:<br />
(i)<br />
(ii)<br />
(iii)<br />
(iv)<br />
Number of members in a consortium would be limited to 3 (Three);<br />
Wherever required, the Proposal should contain the information required for each<br />
member of the Bidding Consortium;<br />
One of the Bidding Consortium members should have purchased the RFP from<br />
TUDA or have paid the non refundable fee of Rs. 50,000 (Rupees Fifty Thousand<br />
only) to TUDA as specified in the RFP;<br />
The Proposal should include a description of the roles and responsibilities of<br />
individual members;<br />
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Tirupathi Urban Development Authority<br />
(v)<br />
(vi)<br />
(vii)<br />
An individual member applying as a sole Bidder cannot at the same time be<br />
member of any Bidding Consortium applying for this Project. Further, a member<br />
of a particular Bidding Consortium cannot be member of any other Bidding<br />
Consortium applying for this Project. Any member who submits or participates in<br />
more than one Bid for this Project will be disqualified and will also lead to<br />
disqualification of the Bidding Consortium/s of which it is a member;<br />
The Bid submitted by the Consortium should contain signed letters submitted by<br />
each of the Consortium Members, stating that the entire Bid has been examined<br />
and each key element of the Bid is agreed to, in the format as specified in Exhibit<br />
4.<br />
Members of the Bidding Consortium shall nominate one member as the Lead<br />
Consortium Member. The Lead Consortium Member or the ordinary member, as<br />
the case may be, shall be required to meet the criteria specified in Section 6.5.<br />
3.4.2 The Bid shall contain a copy of the MoU entered into between the Consortium Members,<br />
as per the Principles of MoU stated in Exhibit 1.<br />
3.4.3 The Lead Consortium Member shall be that Consortium Member vested with the prime<br />
responsibility of developing the Project. In case a Bidding Consortium is selected as the<br />
Successful Bidder, the Lead Consortium Member shall continue to remain the<br />
representative of the Bidding Consortium and shall be responsible to TUDA for the<br />
fulfillment of all contractual obligations.<br />
3.4.4 For a Bidding Consortium, no change in the membership, equity commitment or<br />
responsibilities of the Bidding Consortium, shall be permitted after submission of the Bid,<br />
upto the end of 3 years after the execution of Development Agreement. If at any stage<br />
during this period, a change in the responsibilities or membership in the Bidding<br />
Consortium (in respect of any Consortium Member) is proposed, it would need to be<br />
communicated to TUDA in writing for its approval. TUDA would reserve the right to reject<br />
such requests for a change of Bidding Consortium structure, if in its opinion; it would<br />
adversely affect the strengths of such Bidding Consortium as originally evaluated.<br />
In any case, notwithstanding the above, the Lead Consortium Member, in case of a<br />
Bidding Consortium, shall hold not less than 51% equity contribution in the Bidding<br />
Consortium, which shall not be diluted for first 3 years after the execution of Development<br />
Agreement.<br />
3.5 Minimum Equity Requirement<br />
3.5.1 The Selected Developer will be required to incorporate a Project Company, which shall<br />
not undertake any other business during the Term of the Development Agreement, to<br />
domicile the Project prior to the start of implementation of the Project.<br />
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3.5.2 The aggregate equity shareholding of the Bidding Company or Bidding Consortium, in the<br />
issued and paid up capital of the Project Company shall not be less than 51% (fifty one<br />
percent) for first 3 years after the execution of Development Agreement.<br />
3.5.3 In case of a Bidding Consortium, members of the Bidding Consortium shall nominate one<br />
member as the Lead Consortium Member. The Lead Consortium Member would be<br />
required to commit to hold a minimum equity stake of 51% in the Bidding Consortium,<br />
which shall not be diluted for first 3 years after the execution of Development Agreement.<br />
3.5.4 Any dilution in the equity holding of the Project Company as provided in this Section shall<br />
be as per the provisions of the Development Agreement.<br />
3.6 Proposal Preparation Cost<br />
The Bidder shall be responsible for all costs associated with the preparation of its<br />
Proposal and its participation in the bidding process. TUDA will not be responsible nor in<br />
any way liable for such costs, regardless of the conduct or outcome of the bidding<br />
process.<br />
3.7 Clarifications<br />
3.7.1 A prospective Bidder requiring any clarification on the RFP may notify the TUDA in<br />
writing or facsimile. Bidders should send in their queries latest by the Last Date for<br />
Receiving Queries as given in the schedule of Bidding Process.<br />
3.7.2 TUDA’s response to queries from the Bidders, including a description of the enquiry, will<br />
be posted on the website of TUDA at www.tuda.in.<br />
3.8 Amendment of RFP<br />
3.8.1 TUDA may modify the RFP by issuing an Addendum before Bid Due Date.<br />
3.8.2 At any time prior to the Bid Due Date, TUDA may, for any reason, whether at its own<br />
initiative or in response to clarifications requested by a Bidder, modify the RFP by the<br />
issuance of Addenda. Such Addenda would be posted on the website of TUDA at<br />
www.tuda.in. In order to afford the Bidders reasonable time in which to take an<br />
Addendum into account, or for any other reason, TUDA may, at its own discretion, extend<br />
the Bid Due Date. Intimation regarding such extension in the Bid Due Date would only be<br />
posted on the website of the TUDA at www.tuda.in.<br />
3.8.3 Any Addendum thus issued shall be part of the RFP.<br />
3.9 Advisors to the Bid Process<br />
Request For Proposal<br />
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TUDA has appointed ICICI Securities Ltd as advisors to the process of selecting the<br />
developer for implementing the Integrated Tourism Temple Township project. The<br />
Selected Developer shall be required to pay an amount of Rs 10 lacs (Rupees Ten Lacs<br />
only) to the advisor as their compensation.<br />
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SECTION 4<br />
PROCEDURES TO BE FOLLOWED<br />
4.1 Schedule of Bidding Process<br />
Milestones<br />
Date<br />
Issue of Request for Proposal to Bidders 1100 Hrs, May 11, 2007<br />
Last date for intimation of any discrepancy in<br />
RFP document<br />
Last date for receipt of requests for<br />
clarifications and conditions to be addressed at<br />
the Pre-Bid Conference<br />
1700 Hrs, May 18, 2007<br />
1700 Hrs, May 25, 2007<br />
Pre-Bid Conference 1400 Hrs, June 1, 2007<br />
Last date for receipt of proposals and Opening<br />
of bid documents (“Bid Due Date”)<br />
1500 Hrs, July 09, 2007<br />
Presentation by qualified Bidders July 16, 2007<br />
Completion of Evaluation (“Evaluation Date”) July 26, 2007<br />
OPP given opportunity to match preferred<br />
proposal<br />
Last date of submission of revised proposal by<br />
OPP<br />
July 27, 2007<br />
1700 Hrs, Aug 03, 2007<br />
Evaluation of OPP revised proposal Aug 07, 2007<br />
Issuance of Letter of Award Aug 08, 2007<br />
Finalisation of Development Agreement August 21, 2007<br />
In order to enable TUDA meet the target dates, Bidders are expected to respond<br />
expeditiously to clarifications, if any, requested during the evaluation process. TUDA shall<br />
adhere to the above schedule to the extent possible. TUDA, however, reserves the right<br />
to modify the same. Intimation to this effect shall be given to all the Bidders.<br />
4.2 Language of the Proposal<br />
The language of Proposal and related documents and correspondence shall be in<br />
English. Supporting documents and printed literature furnished by Bidder along with the<br />
Proposal may be in any other language provided that they are accompanied by<br />
translations in the language in English and certified by the concerned Embassy/High<br />
Commission/Consulate of the country of origin of Bidder, in India. Supporting materials,<br />
which are not translated into English, shall not be considered for evaluation. For the<br />
purpose of interpretation and evaluation of the application, translation certified by<br />
Embassy/ High Commission/Consulate shall prevail.<br />
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4.3 Currency of Proposal and Payments<br />
The currency for the purpose of the Proposal shall be Indian Rupee (INR). The<br />
conversion to Indian Rupees for each year shall be based on the closing exchange rate<br />
published by the Reserve Bank of India as on March 31 of each such year or the nearest<br />
prior date for which the RBI rate is available. In all such cases, the original figures in the<br />
relevant foreign currency and the INR equivalent thereof must be given. The exchange<br />
rate(s) applied shall be clearly stated by the Bidder in the relevant Bid Response Sheets.<br />
TUDA reserves the right to use any other suitable exchange rate for the purpose of<br />
uniformly evaluating all Bidders.<br />
4.4 Bid Security<br />
4.4.1 Proposals would need to be accompanied by a Bid Security for an amount equal to<br />
Rs.18.00 crores (Rupees Eighteen Crores only), valid for 60 (sixty) days beyond the Bid<br />
Validity Period. The Bid Security shall be kept valid for 60 days beyond the Bid Validity<br />
Period including any extensions in the Bid Validity Period as given in Sections 4.5 and<br />
4.6 and would be required to be extended if so required by TUDA. Any extension of the<br />
validity of the Bid Security as requested by TUDA shall be provided to TUDA, a minimum<br />
of 7 (seven) calendar days prior to the expiry of the validity of the Bid Security being<br />
extended. When an extension of the Bid Validity Period is requested, Bidders shall not be<br />
permitted to change the terms and conditions of their Bids. TUDA reserves the right to<br />
reject the Proposal submitted by any Bidder who fails to extend the validity of the Bid<br />
Security in line with the provisions of this Section.<br />
4.4.2 The Bid Security shall be in the form of an irrevocable Bank Guarantee issued by a Bank<br />
in favour of Tirupati Urban Development Authority, as per the format set out in Exhibit 5.<br />
For the purpose of providing Bid Security, the “Bank” shall have the meaning specified<br />
below. Bank Guarantees issued by the following Banks would be accepted:<br />
Banks<br />
1. State Bank of India and its subsidiaries<br />
2. Any Indian Nationalized Bank<br />
3. IDBI or ICICI Bank<br />
4. Foreign Bank (issued by a branch outside India) with a counter guarantee from SBI or its<br />
subsidiaries or any Indian Nationalized Bank<br />
5. Any scheduled Commercial Bank approved by RBI having a net worth of not less than<br />
Rs. 1000 crores as on 31st March 2005, as per the latest published Annual Report of the<br />
Bank. In case of a Foreign Bank (issued by a branch in India), the net worth in respect of<br />
Indian operations shall only be taken into account.<br />
The acceptance of the guarantee shall also be subject to the following conditions<br />
1. The capital adequacy of the Bank shall not be less than the norms prescribed by RBI<br />
(10% since 31st March 2003)<br />
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2. The Bank Guarantee issued by a Cooperative Bank shall not be accepted<br />
4.4.3 The Bid Security along with the unopened Covers shall be returned to the Bidders whose<br />
Bids are found to be Non-Responsive, or whose Bids are not Technically and Financially<br />
Capable, or whose Techno-Business Proposal is not found to meet the threshold level<br />
set by TUDA. The Bid Security and unopened Cover 1, Cover 2 and Cover 3 of those<br />
Bidders whose Other Submissions get rejected will be returned within a period of 28 days<br />
from the date of intimation of such rejection. The Bid Security and unopened Cover 2 and<br />
Cover 3 of those Bidders whose Qualification Proposal gets rejected will be returned<br />
within a period of 28 days from the date of intimation of such rejection. The Bid Security<br />
and Cover 3 of those Bidders, whose Techno-Business Proposal doesn’t meet the<br />
minimum threshold during detailed technical evaluation, will be returned within a period of<br />
28 days from the date of intimation of such rejection. Notwithstanding anything contrary<br />
provided in instructions elsewhere to Bidders, on issue of the Letter of Award by TUDA,<br />
the validity of the Bid Security of the the top 3 (three) Bidders ranked on the basis of their<br />
Commercial Offers, shall be automatically extended till the date on which the<br />
Development Agreement is signed. The Bid Security shall be returned, subject to the<br />
provisions of this Section to the other unsuccessful Bidders within a period of 56 (fifty six)<br />
days from the Evaluation Date. Provided however, that the bid security of the Bidder who<br />
submitted the Preferred Proposal as determined on the opening of the Commercial Offer,<br />
as well as that of the next two Bidders ranked on the basis of their Commercial Offers,<br />
shall be returned by TUDA after the date of execution of the Development Agreement. In<br />
addition to the above, TUDA will promptly release all Bid Securities in the event TUDA<br />
decides to terminate the bidding proceedings or abandon the Project.<br />
4.4.4 TUDA shall reject the Bid, which does not include the Bid Security.<br />
4.4.5 The entire Bid Security shall be forfeited in the following cases:<br />
(i) If the Bidder withdraws its Bid except as provided in Section 4.13;<br />
(ii) If the Bidder withdraws its Bid during the interval between the Bid Due Date and<br />
expiration of the Bid Validity Period;<br />
(iii) If the Bidder, during Bid Validity Period, in TUDA’s opinion, commits a material<br />
breach of any of the terms and / or conditions contained in the RFP and/ or<br />
subsequent communication from TUDA in this regard;<br />
(iv) If the Selected Developer refuses to accept the Letter of Award;<br />
(v) If the Selected Developer or the Project Company fails to meet its financial<br />
obligations to TUDA under the Development Agreement within the stipulated time or<br />
any extension thereof provided by TUDA;<br />
(vi) As per the provisions of the Development Agreement.<br />
4.5 Bid Validity period<br />
Proposal shall remain valid for a period not less than 280 days from the Bid Due Date.<br />
TUDA reserves the right to reject any Proposal, which does not meet the requirement.<br />
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4.6 Extension of Bid Validity period<br />
4.6.1 In exceptional circumstances, prior to expiry of the original Bid Validity Period, TUDA may<br />
request the Bidders to extend the period of validity for a specified additional period. The<br />
request and the Bidders’ responses shall be made in writing. TUDA reserves the right to<br />
reject the Bid submitted by any Bidder who fails to extend the period of validity of its Bid<br />
in line with the provisions of this Section. A Bidder accepting TUDA’s request for<br />
extension of validity shall not be permitted to modify his Bid in any other respect.<br />
4.6.2 The Bid Validity Period of the Selected Developer shall be automatically extended till the<br />
date on which the Development Agreement is signed and is in force.<br />
4.7 Project Inspection and Site Visits<br />
The Bidder, at the Bidder’s own responsibility and risk is encouraged to visit and examine<br />
the site of Project and its surroundings and obtain all information that may be necessary<br />
for preparing the Proposal. The costs of visiting the site shall be borne by the Bidder.<br />
TUDA shall not be liable for such costs, regardless of the outcome of the Bidding<br />
process.<br />
4.8 Bidders’ Responsibilities<br />
4.8.1 The Bidder is expected to examine carefully the contents of all the documents provided.<br />
Failure to comply with the requirements of RFP will be at the Bidders’ own risk.<br />
4.8.2 It would be deemed that prior to the submission of the Bid, the Bidder has:<br />
(i) Made a complete and careful examination of requirements and other information set<br />
forth in this RFP;<br />
(ii) Received all such relevant information as it has requested from TUDA; and<br />
(iii) Made a complete and careful examination of the various aspects of the Project<br />
including but not limited to:<br />
(a) The Project site<br />
(b) Existing facilities and structures<br />
(c) The conditions of the access roads and utilities in the vicinity of the Project<br />
site<br />
(d) Conditions affecting transportation, access, disposal, handling and storage of<br />
the materials.<br />
(e) Availability of land for the Project; and<br />
(f) All other matters that might affect the Bidder’s performance under the terms<br />
of this RFP.<br />
4.8.3 TUDA shall not be liable for any mistake or error or neglect by the Bidder in respect of the<br />
above.<br />
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4.8.4 Each Bidder shall submit only one Bid in response to this RFP. Submission of more than<br />
one Bid by any Bidder shall be sufficient grounds for disqualification of the Bidder. In<br />
case, any entity is part of more than one Bidder (either a Bidding Company or a Bidding<br />
Consortium), this shall lead to disqualification of all the Bidders in which such an entity is<br />
participating.<br />
4.9 Pre-Bid Conference<br />
4.9.1 TUDA proposes to hold a Pre-Bid Conference on the date specified in the Schedule of<br />
Bidding Process to discuss the issues related to the Project with all the Applicants. TUDA<br />
on its discretion may also hold further discussions with the Applicants to finalise the<br />
technical/ commercial parameters and other related issues for the Project, before<br />
submission of the Proposals, which would be common for all the Applicants.<br />
4.9.2 Prior to the Pre-Bid Conference, the Bidders may submit a list of queries and propose<br />
deviations, if any, to the Project requirements and/or the Development Agreement.<br />
Bidders must formulate their queries/proposed deviations and forward the same to TUDA<br />
before Last Date for Receiving Queries as specified in the Schedule of Bidding Process.<br />
TUDA may amend the RFP based on inputs, provided by prospective Bidders that may<br />
be considered acceptable at its sole discretion.<br />
4.9.3 TUDA, at its discretion, may respond to inquiries submitted by the conference attendees<br />
after the date of the Pre-Bid Conference. Such a response will be posted on the website<br />
of TUDA at www.tuda.in and will qualify as an “Addendum”.<br />
4.9.4 No interpretation, revision, or other communication from TUDA regarding this RFP is<br />
valid unless posted on the website of TUDA at www.tuda.in. TUDA shall aggregate all<br />
such clarifications, without specifying the source of clarifications, and shall prepare a<br />
response, which shall be posted on the website of TUDA at www.tuda.in.<br />
4.9.5 Bidders may note that TUDA will not entertain any deviations to the RFP at the time of<br />
submission of the Proposal or thereafter. The Proposal to be submitted by the Bidders<br />
will be unconditional and unqualified and the Bidders would be deemed to have accepted<br />
the terms and conditions of the RFP with all its contents including the Development<br />
Agreement. Any conditional Proposal shall be regarded as non-responsive and would be<br />
liable for rejection.<br />
4.9.6 Attendance of Bidders at the Pre-Bid Conference is not mandatory.<br />
4.9.7 All correspondence/ enquiry should be submitted to the following in writing by fax/ post/<br />
courier:<br />
Vice Chairman<br />
Request For Proposal<br />
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Tirupati Urban Development Authority<br />
Tirupati - 517501<br />
Tel.: +91-877-2225803<br />
Fax: +91-877-2225730<br />
Email: vctuda@gmail.com<br />
4.10 Format and Signing of Proposal<br />
4.10.1 The Bidder would provide all the information as per this RFP. TUDA reserves the right to<br />
evaluate only those Bids that are received in the required format, complete in all respects<br />
and in line with the instructions contained in this RFP.<br />
4.10.2 The submission of Bids by interested parties in response to the Request for Proposal is<br />
required to be in three separate sealed covers as indicated below.<br />
Cover 1: Technical and Financial Capability<br />
Cover 2: Techno-Business Proposal<br />
Cover 3: Financial Proposal<br />
4.10.3 Cover 1-Technical and Financial Capability<br />
The ‘Cover 1–Technical and Financial Capability’ shall contain the proposal for<br />
qualification in the prescribed formats (Exhibit 3, Exhibit 6, Exhibit 7 and Exhibit 8). The<br />
Bidder shall place one (1) original + one (1) copy of the Technical and Financial<br />
Capability in a sealed envelope, which shall be inscribed as under:<br />
Cover 1–Technical and Financial Capability<br />
Submitted by: _________________________(name of Bidder)<br />
Submitted for: Selection of a Private Developer for Integrated Tourism Temple Township<br />
Project at Tirupati in Andhra Pradesh<br />
4.10.4 Cover 2–Techno-Business Proposal<br />
The ‘Cover 2 – Techno-Business Proposal’ shall contain the Techno-Business Proposal<br />
in the prescribed format (Section 7.3, Exhibit 9). The Bidder shall place one (1) original +<br />
one (1) copy of the Techno-Business Proposal in a sealed envelope, which shall be<br />
inscribed as under:<br />
Cover 2 – Techno-Business Proposal<br />
Submitted by: _________________________(name of Bidder)<br />
Submitted for: Selection of a Private Developer for Integrated Tourism Temple Township<br />
Project at Tirupati in Andhra Pradesh<br />
4.10.5 Cover 3 – Commercial Offer<br />
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The ‘Cover 3 - Commercial Offer’ shall contain the financial proposal in the prescribed<br />
format (Exhibit 10). The Bidder shall place one (1) original + one (1) copy of the<br />
Commercial Offer in a sealed envelope, which shall be inscribed as under:<br />
Cover 3 - Commercial Offer<br />
Submitted by: _________________________(name of Bidder)<br />
Submitted for: Selection of a Private Developer for Integrated Tourism Temple Township<br />
Project at Tirupati in Andhra Pradesh<br />
4.10.6 Other Submissions<br />
The other submissions shall be placed in the sealed outer envelope and shall consist of:<br />
a. Covering letter clearly stating the validity period of the Bid in the prescribed format<br />
Exhibit 2.<br />
b. Memorandum of Understanding (MoU), as per RFP requirement in Exhibit 1<br />
c. Letter of Acceptance from each Consortium Member, in case of consortium, as per<br />
the prescribed format in Exhibit 4<br />
d. Bank Guarantee for Bid Security, as per the prescribed format Exhibit 5.<br />
4.10.7 Submission of the Bid<br />
All three covers of the Bid organised as above, shall be placed in a sealed outer<br />
envelope. The outer envelope shall also have the Other Submissions as mentioned in the<br />
Section 4.10.6. The outer envelope will have the following inscription:<br />
Vice Chairman<br />
Tirupati Urban Development Authority<br />
Tirupati - 517501<br />
Tel.: +91-877-2225803<br />
Fax: +91-877-2225730<br />
Selection of a Private Developer for Integrated Tourism Temple Township Project at<br />
Tirupati in Andhra Pradesh<br />
(Tender No.____)<br />
Name of the Bidder: __________________________________<br />
4.10.8 The Bid shall be typed or printed. The Bid shall be signed and each page of the Bid shall<br />
be initialled by a person or persons duly authorized to sign on behalf of the Bidder.<br />
4.10.9 The Bid shall contain no alterations or additions, except those to comply with instructions<br />
issued by TUDA or as necessary to correct errors made by the Bidder, in which case<br />
such corrections shall be initialled by the person or persons signing the Bid.<br />
4.10.10 Each Bid shall indicate that it is a firm and irrevocable offer, and shall remain valid and<br />
open for the Bid Validity Period. Non-adherence to this requirement may be a ground for<br />
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declaring the Bid as non-responsive. However, TUDA may solicit the Bidder’s consent for<br />
extension of the period of validity.<br />
4.10.11 TUDA reserves the right to reject any Bid which is not sealed and marked as instructed<br />
above and TUDA will assume no responsibility for the misplacement or premature<br />
opening of the Bid.<br />
4.11 Bid Submission<br />
4.11.1 The Bidder can submit the Bid, in the manner and form as detailed in the RFP, by<br />
registered post/ courier or submit the Bid in person, so as to reach the under mentioned<br />
address by 1500 IST on the Bid Due Date stipulated in Section 4.1. TUDA shall not be<br />
responsible for any delay in submission of the Bids. Any Bid received by TUDA after the<br />
deadline for submission of the Bids stipulated in Section 4.1 shall not be opened.<br />
Vice Chairman<br />
Tirupati Urban Development Authority<br />
Tirupati - 517501<br />
Tel.: +91-877-2225803<br />
Fax: +91-877-2225730<br />
4.11.2 TUDA may, in exceptional circumstances and at its sole discretion, extend the Bid Due<br />
Date by issuing an Addendum in accordance with Section 3.8 uniformly for all Bidders.<br />
4.12 Late Bids<br />
Any Proposal received by TUDA after 1500 hours IST on the Bid Due Date will not<br />
accepted by TUDA.<br />
4.13 Modifications / Substitution / Withdrawal of Proposals<br />
4.13.1 A Bidder may modify, substitute, or withdraw its Bid after submission, provided that<br />
written notice of the modification, substitution, or withdrawal is received by TUDA before<br />
or by the Bid Due Date and Time. No Proposal shall be modified, substituted or<br />
withdrawn by the Bidder after the Bid Due Date and Time.<br />
4.13.2 The modification, substitution, or withdrawal notice shall be prepared in Original only and<br />
each page of the notice shall be stamped. The copy of the notice shall be sealed,<br />
marked, and delivered in accordance with Section 4.10, with the envelope being<br />
additionally marked “MODIFICATION”, “SUBSTITUTION” or “WITHDRAWAL” as<br />
appropriate.<br />
4.14 Instructions to Bidders<br />
All Bidders should note the following:<br />
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1. Bids that are incomplete in any respect or those that are not consistent with the<br />
requirements as specified in this Request for Proposal or those that do not contain the<br />
Covering Letter or Letters of Acceptance as per the specified formats may be considered<br />
non-responsive and may be liable for rejection.<br />
2. Strict adherence to formats, wherever specified, is required. Non -adherence to formats<br />
may be a ground for declaring the Bid non -responsive.<br />
3. TUDA reserves the right to seek additional information from the Bidders, if found<br />
necessary, during the course of evaluation of the Bid. Non-submission, incomplete<br />
submission or delayed submission of such additional information or clarifications sought<br />
by TUDA, may be a ground for rejecting the Bid.<br />
4. All communication and information provided should be legible, and wherever the<br />
information is given in figures, the same should also be mentioned in words.<br />
5. The Bids shall be evaluated as per the criteria specified in this RFP Document. However,<br />
within the broad framework of the evaluation parameters as stated in the Request for<br />
Proposal, TUDA reserves the right to make modifications to the stated evaluation criteria,<br />
which would be uniformly applied to all the Bidders.<br />
6. The Bidder should designate one person (“Contact Person” and “Authorised<br />
Representative and Signatory”) authorised to represent the Bidder in its dealings with<br />
TUDA. This designated person should hold the Power of Attorney and be authorised to<br />
perform all tasks including but not limited to providing information, responding to<br />
enquiries, entering into contractual commitments on behalf of the Bidder etc. The<br />
Covering Letter submitted by the Bidder shall be signed by the Authorised Signatory and<br />
shall bear the stamp of the entity thereof.<br />
7. The Bid (and any additional information requested subsequently) shall also bear the<br />
initials of the Authorised Signatory and stamp of the entity thereof on each page of the<br />
Bid.<br />
8. TUDA also reserves the overriding right to reject any Bid pursuant to any change in the<br />
composition of the Bidding Company / Bidding Consortium without ascribing any reasons<br />
whatsoever.<br />
9. TUDA reserves the right to reject any or all of the Bids without assigning any reason<br />
whatsoever.<br />
10. Anti-collusion Section: If TUDA detects collusion amongst the Bidders at any stage during<br />
the bidding process or subsequent to the award of the Project, it shall have a right to take<br />
such actions as it may deem fit to ensure not only the sanctity of the bidding process but<br />
also to protect its interests in the context of its broader obligations towards the society.<br />
11. Mere submission of information does not entitle the Bidder to meet an eligibility criterion.<br />
TUDA reserves the right to vet and verify any or all information submitted by the Bidder.<br />
12. If any claim made or information provided by the Bidder in the Bid or any information<br />
provided by the Bidder in response to any subsequent query by TUDA, is found to be<br />
incorrect or is a material misrepresentation of facts, then the Bid will be liable for rejection<br />
with Bid Security forfeited. Mere clerical errors or bonafide mistakes may be treated as an<br />
exception at the sole discretion of TUDA and if TUDA is adequately satisfied.<br />
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4.15 Opening of Bids<br />
The outer envelope of the Bids received, containing the Other Submissions as specified<br />
in Section 4.10.6, shall be opened on the date and time specified in Section 4.1, at the<br />
Board/Conference room of TUDA, in the presence of one representative from each<br />
Bidder, if deputed. The details regarding the Bidder, as provided in the Covering Letter<br />
(Exhibit 2) would be read out.<br />
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SECTION 5<br />
EVALUATION PROCESS<br />
5.1 Bid Opening Date<br />
5.1.1 All the covers, Cover 1, Cover 2 and Cover 3 received by TUDA will remain sealed and<br />
unopened in TUDA’s possession until the Other Submissions have been tested for their<br />
responsiveness to RFP as per Section 5.6 of this RFP.<br />
5.1.2 TUDA would open the Other Submissions part of the Bid at the time and date mentioned<br />
against the Bid Due Date in the Schedule of Bidding Process or on the extended Bid Due<br />
Date. The Cover 1, 2 and 3 shall not be opened at this stage.<br />
5.1.3 Bid for which an acceptable notice of withdrawal has been submitted in accordance with<br />
Section 4.13 shall not be opened.<br />
5.1.4 The Other Submissions part of the Proposal shall be opened in the presence of Bidders’<br />
representatives, who choose to attend. Bidders’ representatives attending the Bid<br />
opening shall register to evidence their presence.<br />
5.1.5 The following information will be announced at the Bid opening and recorded:<br />
• Bidder’s names<br />
• Names of Consortium Members<br />
5.1.6 TUDA would subsequently examine responsiveness of Bids in accordance with the<br />
criteria set out in Section 5.6.<br />
5.2 Non-Discriminatory and Transparent Bidding Proceedings<br />
TUDA shall ensure that the rules for the bidding proceedings for the Project are applied in<br />
a non-discriminatory, transparent and objective manner. TUDA shall not provide to any<br />
Bidder information with regard to the Project or the bidding proceedings, which may have<br />
the effect of restricting competition.<br />
5.3 Confidentiality<br />
Information relating to the examination, clarification, evaluation, and recommendation for<br />
the Bidders shall not be disclosed to any person not officially concerned with the process.<br />
TUDA will treat all information submitted as part of Bid in confidence and would require<br />
all those who have access to such material to treat the same in confidence. TUDA will not<br />
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divulge any such information unless it is ordered to do so by any authority that has the<br />
power under law to require its disclosure.<br />
5.4 Clarifications<br />
To facilitate evaluation of Bids, TUDA may, at its sole discretion, seek clarifications in<br />
writing from any Bidder regarding its Bid. Notwithstanding anything contained in the RFP,<br />
TUDA reserves the right not to take into consideration any such clarifications sought by it<br />
for evaluation of the Bid.<br />
5.5 Bid Evaluation<br />
5.5.1 This RFP has been issued in response to proposal by Original Project Proponent. The<br />
purpose of the Bid is to identify the Bidder who submits a responsive Bid, meets the<br />
minimum technical and financial capability criteria, submits a Techno-Business Proposal<br />
which meets the minimum threshold under detailed technical evaluation and who offers<br />
the best financial terms to TUDA. Such financial terms (Preferred Proposal) shall be<br />
benchmarked with that proposed by Original Project Proponent and if found better, the<br />
Original Project Proponent shall be given a chance to match the same. In the event that<br />
the Original Project Proponent doesn’t match the Preferred Proposal, if it is better than<br />
original offer, the Project shall be awarded to the Bidder who submitted the Preferred<br />
Proposal.<br />
5.5.2 Bids not accompanied by “Other Submissions” shall not be evaluated.<br />
5.6 Stage 1 : Responsiveness of Bid<br />
5.6.1 In Stage I of Bid Evaluation, the “Other Submissions” as stated in Section 4.10.6<br />
submitted by the Bidders shall be checked for compliance with the requirements of the<br />
RFP. Prior to evaluation of Covers 1, 2 and 3, TUDA will determine whether each Bid is<br />
substantially responsive to the requirements of the RFP. A Bid shall be considered<br />
responsive if the Bid satisfies the criteria stated below:<br />
a. The Proposal should be submitted with Other Submissions as stipulated in Section<br />
4.10.6<br />
b. Is received by the Bid Due Date including any extension thereof pursuant to Section<br />
4.11.<br />
c. Is signed, sealed and marked as stipulated in Section 4.10.<br />
d. Contains all the information in formats specified in this RFP.<br />
e. Contains all the formats specified in this RFP.<br />
f. Mentions the validity period of the Bid as set out in Section 4.5.<br />
g. Provides the information in Reasonable Detail (“Reasonable Detail” means the<br />
details which but for minor deviations, contains the information, which can be<br />
reviewed and evaluated by TUDA without communication with the Bidder). TUDA<br />
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reserves the right to determine whether the information has been provided in<br />
Reasonable Detail.<br />
5.6.2 A Bid that is substantially responsive is one that conforms to the preceding requirements<br />
without material deviation or reservation. A material deviation or reservation is one<br />
(i) Which affects in any substantial way the scope, quality, or performance of<br />
the Project, or<br />
(ii) Which limits in any substantial way, inconsistent with the RFP, rights of<br />
TUDA or the obligations of the Bidder under the Development Agreement, or<br />
(iii) Which would affect unfairly the competitive position of other Bidders<br />
presenting substantially responsive bids.<br />
5.6.3 TUDA reserves the right to reject any Bid which is non-responsive and no request for<br />
alteration, modification, substitution or withdrawal shall be entertained by TUDA in<br />
respect of such Bids.<br />
The Bids of “Responsive” Bidders shall be evaluated in the following steps:<br />
5.7 Stage 2 : (Cover 1)- Evaluation of Technical and Financial Capability<br />
In Stage 2 of Bid evaluation, only those Bids that are found to be responsive to the<br />
requirements of the RFP as specified in Section 5.6 above would be opened for<br />
assessing their qualification for technical and financial capability to undertake the Project<br />
as per Section 6. The technical and financial capability of the Bidders would be assessed<br />
based on the evaluation process and minimum threshold requirements as set by TUDA<br />
as per Section 6. The Bidders would be evaluated on parameters as defined in Cover 1<br />
(Criteria for Evaluating Technical and Financial Capability) and the Bidders found to be<br />
Technically and Financially Capable would be eligible for the next stage of the selection<br />
process. The Techno-Business Proposal (Cover 2) and Commercial Offer (Cover 3) of<br />
the Bidders not found to be Technically or Financially Capable would be returned<br />
unopened.<br />
5.8 Stage 3 : (Cover 2) - Evaluation of Techno-Business Proposal<br />
The Evaluation criteria for the Techno-Business Proposal to be submitted are detailed in<br />
Section 7 of this Document. The Techno-Business Proposals of Bidders qualified under<br />
Stage 2 shall be evaluated in detail and would be evaluated for past experience,<br />
technical and managerial capability, project plan and presentation. The Bidders who meet<br />
the minimum threshold under technical evaluation would be eligible for the next stage of<br />
the selection process i.e. opening of their Commercial Offers. The Commercial Offer<br />
(Cover 3) of Bidders who don’t meet the minimum threshold of technical evaluation would<br />
be returned unopened.<br />
5.9 Stage 4 : (Cover 3): Evaluation of Commercial Offer<br />
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The evaluation of the Commercial Offers would be undertaken as detailed in Section 8.<br />
An Evaluation Financial Model, provided along with the RFP, shall be used to compare<br />
the relative attractiveness of Commercial Offers of various Bidders. The Evaluation<br />
Financial Model shall be considered only for the purpose of evaluating the commercial<br />
terms of the various Bidders and should not be construed as any commitment or<br />
undertaking by TUDA or Bidders. A ranked list of Bidders based on the results of the<br />
evaluation would be prepared. The proposal whose Commercial Offer is ranked 1 st (first)<br />
shall be identified as Preferred Proposal and considered as benchmark in evaluating<br />
against the proposal submitted by the Original Project Proponent. The proposal whose<br />
Commercial Offer is ranked 2 nd (second) shall be identified as Second Proposal. The<br />
proposal whose Commercial Offer is ranked 3 rd (third) shall be identified as Third<br />
Proposal. TUDA may retain the top three ranked Bidders till negotiations are concluded<br />
successfully with the Selected Developer. The Letter of Award would be the letter issued<br />
to the Selected Developer indicating the decision made by the TUDA to implement the<br />
Project.<br />
5.10 Notification<br />
The Bidder whose Commercial Offer is most favorable to TUDA and has been<br />
designated as Preferred Proposal would be notified in writing by TUDA. Simultaneously,<br />
the Original Project Proponent would also be notified of the Commercial Offer in writing. If<br />
the Preferred Proposal is superior to the commercial terms of Original Project Proponent,<br />
the same would be invited to match the terms of Preferred Proposal within time period<br />
mentioned in the Schedule of Bidding Process. In the event that the Original Project<br />
Proponent matches the Commercial Offer of the Preferred Proposal, TUDA shall issue<br />
the Letter of Award (LOA) to the Original Project Proponent. If the Original Project<br />
Proponent is not willing/ refuses to match the commercial terms of the Preferred<br />
Proposal, the Bidder who submitted the Preferred Proposal shall be selected by TUDA<br />
for issuance of LOA. In the event that the commercial terms of Original Project Proponent<br />
are superior to that of Preferred Proposal, TUDA shall issue the LOA to the Original<br />
Project Proponent at terms given by it in its commercial offer.<br />
5.11 TUDA’s Right to accept or reject Bid<br />
5.11.1 TUDA reserves the right to accept or reject any or all of the Bids without assigning any<br />
reason and to take any measure as it may deem fit, including annulment of the bidding<br />
process, at any time prior to execution of the Development Agreement, without liability or<br />
any obligation for such acceptance, rejection or annulment.<br />
5.11.2 TUDA reserves the right to invite fresh bids with or without amendment of the RFP at any<br />
stage without liability or any obligation for such invitation and without assigning any<br />
reason.<br />
5.11.3 TUDA reserves the right to reject any Bid if:<br />
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a. At any time, a material misrepresentation is made or uncovered for a Bidder or any<br />
of its members<br />
b. The Bidder does not respond promptly and thoroughly to requests for supplemental<br />
information required for the evaluation of the Bid<br />
This would lead to disqualification of the Bidder / Member wherein the Bidder / Member<br />
(either as Sole applicant or as part of another consortium) is present. If the Bidder is a<br />
Consortium, then the entire Consortium would be disqualified/ rejected. If such<br />
disqualification/ rejection occurs after the Commercial Offer has been opened and the<br />
Selected Developer gets disqualified/ rejected, TUDA reserves the right to take any such<br />
measure as may be deemed fit in the sole discretion of TUDA, including annulment of the<br />
bidding process. Notwithstanding the above, TUDA may debar / blacklist any of the<br />
Bidder(s) for their misleading or false representations in the forms, statements etc. for the<br />
period to be decided by TUDA.<br />
5.12 Acceptance of LOA and Execution of Development Agreement<br />
5.12.1 Within Seven (7) days from the date of issue of the LOA, the Selected Developer shall<br />
accept the LOA and return the same to TUDA. The Selected Developer shall execute the<br />
Development Agreement within forty-five (45) days of acceptance of LOA. In case, the<br />
Selected Developer fails to do so it shall forfeit its Bid Security and the Bidder who<br />
submitted the Second Proposal would be asked to match the Selected Developer’s offer<br />
and sign the Development Agreement within the time stipulated herein above. If the<br />
Bidder refuses to match the offer, its Bid Security shall not be forfeited and this process<br />
would be repeated with the Bidder who submitted the Third Proposal .<br />
5.12.2 In case the Section 5.10 and Section 5.12.1 do not result in any of the three top ranked<br />
Bidders or Original Project Proponent signing the Development Agreement under<br />
commercial terms of Preferred Proposal or that of Original Project Proponent, whichever<br />
is better, the Bidder who submitted the Preferred Proposal shall forfeit its Bid Security<br />
and be relieved from the Bid process. At this stage, the Bidder who submitted the Second<br />
Offer would be notified in writing by TUDA. Simultaneously, the Original Project<br />
Proponent would also be notified of the Commercial Offer in writing. If the Second<br />
Proposal is superior to the commercial terms of Original Project Proponent, the same<br />
would be invited to match the terms of Second Proposal within time period similar to that<br />
earlier used for Preferred Proposal. In the event that the Original Project Proponent<br />
matches the Commercial Offer of the Second Proposal, TUDA shall issue the Letter of<br />
Award (LOA) to the Original Project Proponent. If the Original Project Proponent is not<br />
willing/ refuses to match the commercial terms of the Second Proposal, the Bidder who<br />
submitted the Second Proposal shall be selected by TUDA for issuance of LOA. In the<br />
event that the commercial terms of Original Project Proponent are superior to that of<br />
Second Proposal, TUDA shall issue the LOA to the Original Project Proponent at terms<br />
given by it in its commercial offer.<br />
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Within Seven (7) days from the date of issue of the LOA, the Selected Developer shall<br />
accept the LOA return it to TUDA. The Selected Developer shall execute the<br />
Development Agreement within forty-five (45) days of acceptance of LOA. In case, the<br />
Selected Developer fails to do so it shall forfeit its Bid Security and the Bidder who<br />
submitted the Third Proposal would be asked to match the Selected Developer’s offer<br />
and sign the Development Agreement within the time stipulated herein above. If the<br />
Bidder refuses to match the offer, its Bid Security shall not be forfeited.<br />
5.12.3 In case the Section 5.10, Section 5.12.1 and Section 5.12.2 do not result in any of the<br />
three top ranked Bidders or Original Project Proponent signing the Development<br />
Agreement under commercial terms of Second Proposal or that of Original Project<br />
Proponent, whichever is better, the Bidder who submitted the Second Proposal shall<br />
forfeit its Bid Security and be relieved from the Bid process. At this stage, the Bidder who<br />
submitted the Third Offer would be notified in writing by TUDA. Simultaneously, the<br />
Original Project Proponent would also be notified of the Commercial Offer in writing. If the<br />
Third Proposal is superior to the commercial terms of Original Project Proponent, the<br />
same would be invited to match the terms of Third Proposal within time period similar to<br />
that earlier used for Preferred Proposal. In the event that the Original Project Proponent<br />
matches the Commercial Offer of the Third Proposal, TUDA shall issue the Letter of<br />
Award (LOA) to the Original Project Proponent. If the Original Project Proponent is not<br />
willing/ refuses to match the commercial terms of the Third Proposal, the Bidder who<br />
submitted the Third Proposal shall be selected by TUDA for issuance of LOA. In the<br />
event that the commercial terms of Original Project Proponent are superior to that of<br />
Third Proposal, TUDA shall issue the LOA to the Original Project Proponent at terms<br />
given by it in its commercial offer.<br />
Within Seven (7) days from the date of issue of the LOA, the Selected Developer shall<br />
accept the LOA and return it to TUDA. The Selected Developer shall execute the<br />
Development Agreement within forty-five (45) days of acceptance of LOA. In case, the<br />
Selected Developer fails to do so it shall forfeit its Bid Security.<br />
TUDA reserves the right to give more time to the three top ranked Bidders; reject their<br />
Bids; or invite fresh Bids. In such a case the entire bid security, if any, submitted by the<br />
Selected Developer shall be forfeited. However, TUDA on receiving request from the<br />
Selected Developer, may at its absolute discretion, permit extension of the aforesaid<br />
period of forty-five (45) days for execution of the Development Agreement.<br />
5.12.4 TUDA will notify other Bidders that their Bids have been unsuccessful. The Bid Security<br />
of<br />
• the Bidders who submitted the Preferred Proposal, Second Proposal and Third<br />
Proposal, if the Original Project Proponent is the Selected Developer; or<br />
• the Bidders who submitted the Second Proposal and Third Proposal, if the Selected<br />
Developer is the Bidder who submitted the Preferred Proposal,<br />
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shall be returned as mentioned in Section 4.4.3. Bid Security of other bidders will be<br />
returned as promptly as possible, in any case not later then 56 days from the Evaluation<br />
Date.<br />
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SECTION 6 (COVER 1)<br />
TECHNICAL AND FINANCIAL CAPABILITY EVALUATION<br />
The Cover 1 submission i.e. Technical and Financial Capability of the Bidders shall be<br />
assessed at this stage.<br />
6.1 Objective<br />
In this stage the Technical and Financial Capability of the Bidding Company /Bidding<br />
Consortium in establishing the Project would be assessed. The Bidder’s competence and<br />
capability would be judged and established by the following parameters:<br />
(a) Experience as developer and /or contractor<br />
(b) Financial capability in terms of<br />
i. Net Worth<br />
ii. Net cash accruals<br />
iii. Equity Financing Plan<br />
On each of these parameters, the Bidder would be required to meet the evaluation<br />
criteria as detailed later in this Section. The Experience and Financial capability ( Net<br />
Worth and Net Cash Accrual) are pass/fail criteria, whereas Equity Financing Plan<br />
assesses the Bidder’s plan to provide financials into the Project.<br />
6.2 Evaluation Criteria for Technical Capability<br />
6.2.1 The following categories of experience would qualify as eligible experience (“Eligible<br />
Experience”) as a developer and / or construction contractor:<br />
Category 1: Project development experience in residential/ commercial/ mixed-use/<br />
township development, real estate, industrial parks<br />
Category 2: Construction experience in residential/ commercial/ mixed-use/ township<br />
development, real estate, industrial parks<br />
6.2.2 Eligible Experience would be measured only for Eligible Projects.<br />
6.2.3 For a project to qualify as an Eligible Project :<br />
Under Category 1:<br />
a. It should meet the Threshold Size as stipulated in Table 6.1 below;<br />
b. It should have been commissioned during the 2 year period immediately preceding<br />
this RFP Issue Date;<br />
c. The entity claiming experience should have held a minimum of 26% equity in the<br />
project as on date of commissioning.<br />
Under Category 2:<br />
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1. It should meet the Threshold Size as stipulated in Table 6.1 below;<br />
2. It should have achieved the Threshold Size during the 2 year period immediately<br />
preceding this RFP Issue Date<br />
Table 6.1: Threshold Size for Eligible Projects<br />
Measurement Parameter Threshold Size (Rs Crore)<br />
Category 1 Project Cost 150.0<br />
Category 2 Certified Billings 100.0<br />
6.2.4 The Threshold Size shall be calculated in the manner as set out in Exhibit 6 and the<br />
Applicant should furnish adequate evidence to support its claim of Eligible Experience as<br />
set out in Exhibit 6.<br />
6.2.5 The Bidder shall quote experience in respect of a particular Eligible Project under any<br />
one category only, even though the Bidder (either individually or alongwith a member of<br />
the Consortium) may have played both the roles in the cited project.<br />
6.2.6 The Bidder should furnish adequate evidence to support its claim of Eligible Experience<br />
as per Exhibit 7.<br />
6.2.7 The Bidder’s experience shall be measured in terms of Experience Score. Experience<br />
Score for a given category would be the Project Cost or Certified Billings as the case may<br />
be, multiplied by the applicable factor in Table 6.2 below. In case the Bidder has<br />
experience across different categories the score for each category would be computed as<br />
above and then aggregated to arrive at the Experience Score.<br />
Table 6.2: Factors for Experience Across Categories<br />
Factor<br />
Category 1 1.00<br />
Category 2 0.67<br />
6.3 Minimum Eligibility Criteria: Technical Capability<br />
The Bidder who achieves an Experience Score of 300.0 (Threshold Experience Score) or<br />
above would be deemed to meet the experience criterion for qualification.<br />
6.4 Financial Eligibility Evaluation<br />
The consideration for evaluation of the Eligibility Criteria i.e. the entities who would be<br />
eligible for evaluation is as follows:<br />
6.4.1 For a Bidding Company<br />
For evaluation under the Financial Eligibility, the strength of the Bidding Company shall<br />
be considered.<br />
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6.4.2 For a Bidding Consortium<br />
In case of a Bidding Consortium, simple aggregate of the technical and financial<br />
capability of each member of the Bidding Consortium shall be considered for the purpose<br />
of evaluation. The Bidding Consortium would be required to meet the threshold criteria on<br />
the basis of aggregate figures subject to provisions of this Section 6.4.2.<br />
6.4.3 Criterion for Financial Eligibility<br />
For the purpose of qualification, a Bidder would be required to demonstrate the Threshold<br />
Financial Capability measured on the following criteria:<br />
i. Tangible Net Worth not less than Rs. 200 Crores for the last full financial<br />
year; AND<br />
ii. Aggregate Net Cash Accruals not less than Rs. 100 Crores for the last<br />
two full financial years.<br />
iii. Equity Financing Plan of the Bidder is explained in detail in Section 6.6<br />
The criteria for Sections 6.4.3 (i) and 6.4.3 (ii) are a pass/fail test.<br />
The Bidder should provide information regarding the above based on audited annual<br />
accounts for the respective financial years, as per Exhibit 8. The Financial Year would be<br />
the same as the one normally followed by the Bidder for its Annual Report. The Bidder’s<br />
Financial Eligibility will have to be certified by a statutory auditor, as per Exhibit 8 Bid<br />
Response 9.<br />
The Application must be accompanied by the Audited Annual Reports of the Bidder (of<br />
each member in case of a Bidding Consortium) for the last two (2) financial years. In case<br />
the annual accounts for the latest financial year are not audited and therefore the Bidder<br />
could not make it available, the Bidder shall give an undertaking to the same effect and<br />
the statutory auditor shall certify the same. In such a case, the Bidder shall, for the<br />
purpose of evaluation, provide the Audited Annual Reports for two years preceding the<br />
latest completed Financial Year failing which the Application will be rejected as nonresponsive.<br />
6.5 Determination of Technically & Financially Capable Bidders<br />
6.5.1 In case of a Bidding Consortium, simple aggregate of the technical and financial<br />
capability of each member of the Bidding Consortium shall be considered for the purpose<br />
of evaluation, in proportion to their proposed equity holding in the project. The Bidding<br />
Consortium would be required to meet the threshold criteria on the basis of aggregate<br />
figures subject to provisions of this Section 6.5.<br />
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6.5.2 The Consortium would need to specify a Lead Consortium Member for the project in<br />
accordance with Section 3.4;<br />
6.5.3 The Lead Consortium Member would be required to:<br />
(i)<br />
(ii)<br />
achieve a minimum of 50% of the Threshold Experience Score as specified in<br />
Section 6.3 and Threshold Financial Capability of at least 50% on each of the<br />
criteria specified under Sections 6.4.3 (i) and 6.4.3 (ii); and<br />
commit to hold a minimum equity stake equal to 51% in the Bidding Consortium<br />
for first 3 (Three) years after the execution of Development Agreement.<br />
The Bidders who meet the Technical Eligibility Criteria and Financial Eligibility Criteria as<br />
mentioned in Section 6.3 and 6.4 (Cover 1) would be considered as Technically and<br />
Financially Capable Bidders and their Cover 2 would be opened. The Bidders who do not<br />
meet the Technical and Financial Eligibility Criteria would be declared Ineligible and their<br />
Cover 2 and Cover 3 would not be opened.<br />
6.6 Equity Financing Plan of the Bidder<br />
The Equity Financing Plan will judge the Bidder’s ability to access funds and be able to<br />
successfully manage and implement the Project. The Bidder will have to furnish a<br />
detailed Equity Financing Plan for Rs 600 crores. The Equity financing plan should be<br />
substantiated by documents under the categories as given below attached in Bid<br />
Response 10 in Exhibit 8. The formats for the documents are provided at Exhibit 8, Bid<br />
Response 11 and Bid Response 12.<br />
Category Means of Financing<br />
Documents Required<br />
1 Reserves & Surplus Statutory Auditor certificate as per Qualification<br />
Bid Response 11<br />
2 Bank Facility Bank / Financial Institution Certificate as per Bid<br />
Response 12<br />
3 Disposable and<br />
Unencumbered Real<br />
Estate Liquidation<br />
4 Advances from the<br />
Parent Company/<br />
Group Company<br />
Certificate of a Registered Real Estate Valuer<br />
certifying the value of the real estate and non<br />
encumbrance certificate from the lead lender<br />
Board Resolution of the Parent/ Group Company<br />
and Statutory Auditor Certificate similar to the<br />
format provided at Bid Response 11<br />
Any other source of financing should be supported by authenticated documents.<br />
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SECTION 7 (COVER 2)<br />
TECHNO-BUSINESS PROPOSAL EVALUATION<br />
The Cover 2 submission i.e. Techno-Business Proposal of the Bidders found to be<br />
Technically and Financially Capable shall be assessed at this stage.<br />
7.1 Proposal by Original Project Proponent<br />
The Project is being evaluated under the Swiss Challenge Approach, with initial proposal<br />
been submitted by a developer (Original Project Proponent). A copy of the proposal<br />
submitted by Original Project Proponent is enclosed in Exhibit 15.<br />
7.2 Techno - Business Proposal<br />
The Techno-Business proposal should include the following:<br />
Executive Summary (not more than two pages) that summarizes important features<br />
of the proposal.<br />
Detailed inputs on the technical evaluation parameters (in the format mentioned<br />
below in Section 7.3)<br />
The Bidders are required to give their detailed plan and strategy for the Project. The<br />
techno-business proposals submitted by the Bidders are required to adhere to the broad<br />
structure of development plan proposed by Original Project Proponent. The broad<br />
structure shall include the facilities/ amenities proposed, site area proposed for different<br />
usage viz. hotel/ dormitory/ commercial/ residential/ green space etc. The Bidder may<br />
provide the information in the form of design sheets, layout plans, cross sections, etc. as<br />
may best represent the Bidder’s techno-business proposal. The proposal may contain<br />
inter alia conceptualization & planning, construction plan, financial plan, marketing<br />
strategy and operational plan. The Bidder may add further details if it wishes. The<br />
Bidders are encouraged to use maps, diagrams, tables and supporting data in their<br />
business plans.<br />
The contents of the Technical Proposal shall be completed in description, concise in<br />
volume and form. The proposal shall be in the format of a written report. Any reproduction<br />
of photos, drawings, charts and/or diagrams included in the proposal copies should be<br />
the same as in the original.<br />
7.3 Technical Evaluation Parameters<br />
The Techno-Business proposal of the Bidders would be evaluated on the basis of<br />
following parameters and the same should be provided clearly and explicitly in the<br />
proposal:<br />
A. Business Profile<br />
i. Bidder name and services offered<br />
Request For Proposal<br />
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Tirupathi Urban Development Authority<br />
ii. Name of Partners /Associations / Subsidiaries( if any)<br />
iii. Corporate Overview and Track Record of the Bidder<br />
iv. Year of establishment of the Bidder<br />
v. Location of offices<br />
B. Relevant Past Experience<br />
i. List of successful projects of the following category completed/under construction<br />
(in the format in Exhibit 9, Bid Response 1):<br />
a. An integrated township of not less than 25 acres in projects in the last 3<br />
(three) years.<br />
b. Developed a single project (residential / commercial/hospitality) of built up<br />
area of not less than 1 (One) million sq. ft in the last 3 (three) years.<br />
c. Developed an aggregate residential / commercial / hospitality of built up area<br />
of not less than 5 (Five) million sq. ft in the last 3 (three) years.<br />
ii. List of other clients worked for and their contact details.<br />
iii. List of claims and litigations, details of black listing, etc, in the last 3 years.<br />
C. Technical & Managerial capability<br />
The qualification and experience of the key personnel (Senior Management, Project<br />
specific team) to be given in the format in Exhibit 9, Bid Response 2.<br />
D. Project Details<br />
i. Project Concept Plan (Approach and methodology of the design/Bidder’s<br />
approach to designing).<br />
ii. Proposed Common & specialized infrastructure utility facilities ( if any)<br />
iii. Proposed Implementation strategy and schedule with O & M Plan<br />
iv. Environmental Management Plan.<br />
v. Marketing Plan.<br />
7.4 Evaluation of Techno- Business Proposals<br />
Within the structure set by the Original Project Proponent, the proposals by the Bidders<br />
shall be evaluated. The objective of the evaluation shall be to assess the technical<br />
competence in development of the Project and the responsiveness of the technobusiness<br />
proposal in respect of the following:<br />
Compliance with the Project Scope of this document<br />
Attractiveness of Project plan and development strategy<br />
Practicality of implementation<br />
The Bidders would be invited to make presentation to TUDA on the Techno-Business<br />
Proposal and their development plan for the Project. The technical strength of the Bidder<br />
shall be evaluated after combining the marks scored under the Techno-Business<br />
proposal and the presentation. The weightage to be given for various components of<br />
proposal and presentation are as below:<br />
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Business Profile 5%<br />
Technical & Managerial capability and Relevant Past Experience 25%<br />
Project Details 30%<br />
Composition of Team assigned to implement the project 15%<br />
Presentation of the proposal 25%<br />
Total 100%<br />
Based on the score assigned out of 100 to each Bidder, the Techno-Business Proposal<br />
of each Bidder shall be scoped.<br />
The objective of the above assessment shall not be to “rank” the bids but to establish the<br />
inherent technical competence and planning capability of the Bidders and also to<br />
determine whether the bid is fundamentally sound on the above parameters. Towards<br />
this end, TUDA reserves the right to seek clarifications, permit discussions / modification<br />
and seek a final resolution on contentious issues.<br />
The Bidders, whose Techno-Business Proposals score a minimum threshold level of 70%<br />
(seventy percent) in the evaluation shall be considered for qualification for the next stage<br />
of the evaluation. The Bidders who score less than the minimum threshold level shall be<br />
rejected and their Commercial Offer (Cover 3) shall be returned unopened.<br />
TUDA, however, at all times also retains the right to reject Bid in cases where TUDA (in<br />
its sole opinion), considers the bid materially inconsistent, deficient, technically unsound<br />
or unacceptable in any other respect.<br />
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Tirupathi Urban Development Authority<br />
SECTION 8 (COVER 3)<br />
COMMERCIAL OFFER EVALUATION<br />
8.1 Objective of Commercial Offer Evaluation<br />
The Commercial Offer evaluation seeks to select the entity offering the best commercial<br />
terms.<br />
8.2 Evaluation Financial Model<br />
For the purpose of evaluating the comparative attractiveness of Commercial Offers of<br />
various Bidders, TUDA has prepared a nominal business plan for the Integrated Tourism<br />
Temple Township (“Evaluation Financial Model”). The Evaluation Financial Model is<br />
solely for the purpose of evaluating the comparative attractiveness of different<br />
Commercial Offers on common and transparent platform and the cashflows assumptions<br />
do not represent TUDA’s assessment of revenues from the Project over the years. The<br />
Evaluation Financial Model does not constitute any representation, warranty, commitment<br />
or expectation on the part of TUDA from the Project. The actual cashflows generated<br />
from the Project may be materially different from the ones projected in the Evaluation<br />
Financial Model and this shall not in any way affect or compromise the selection process<br />
or the commitments made by the Selected Developer under the Development<br />
Agreement.<br />
The Evaluation Financial Model shall be given along with this RFP (Exhibit 13) and the<br />
Bidders are advised that their Commercial Offer shall be evaluated with respect to the<br />
same.<br />
8.3 Commercial Offer Parameters<br />
Bidders are required to quote their best offer in terms of the fixed amount of money to be<br />
paid upfront to TUDA and/ or revenue sharing with TUDA from residential and<br />
commercial space. The revenue sharing shall be in the form of a share (“Percentage<br />
Share”) of gross revenue from sale of all residential and commercial assets (“Revenue<br />
Share”). The Revenue Share shall also be due in respect of unsold residential/<br />
commercial units at the end of the 7 years from the Drop Dead Date. The Revenue Share<br />
would be payable at the end of each quarter. If the Project Company wants to retain the<br />
residential/ commercial space (so that it may lease it out), the Project Company would<br />
have to first purchase the said residential/ commercial space by paying TUDA the<br />
Revenue Share that would be due. The Revenue Share would be based on a price to be<br />
determined by a professional agency appointed by TUDA. If the price is disputed by the<br />
Project Company, as an alternative, TUDA may exercise the right to retain for itself the<br />
Percentage Share of the residential/ commercial space at a location of its choice. The<br />
Successful Bidder would get the right of freehold on such retained residential/<br />
commercial space on discharge of its obligations to TUDA.<br />
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Tirupathi Urban Development Authority<br />
8.4 Evaluation of Commercial Offers<br />
The Commercial Offer from the Bidders shall be evaluated as per the Evaluation<br />
Financial Model. The Commercial Offer from each Bidder in terms of fixed amount of<br />
money to be paid upfront to TUDA and/ or revenue sharing with TUDA for the commercial<br />
and residential assets shall be converted to implied cash inflow to TUDA as per the<br />
Evaluation Financial Model. The implied yearly cashflows to TUDA from each Bidder<br />
shall be discounted to the year 2007 at a discounting rate of 12.00% p.a. The net present<br />
value thus calculated for the Bidder’s Commercial Offer shall be used for ranking the<br />
various Commercial Offers by the Bidders in the descending order. A sample calculation<br />
for assessment of ranking of the Commercial Offers is given in Exhibit 12. The proposal<br />
from the Bidder whose Commercial Offer ranks the highest shall be considered the<br />
Preferred Proposal for the purpose of evaluation against the proposal of Original Project<br />
Proponent as per the Swiss Challenge Approach.<br />
8.5 Commercial Offer: Submission Format<br />
The information requirements and guidelines for submission of the Commercial Offer are<br />
detailed in Exhibit 10. It may be noted that proposals of Bidders, which do not contain the<br />
Commercial Offer as specified above, would be considered invalid and liable for rejection.<br />
Request For Proposal<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 1<br />
PRINCIPLES OF THE CONSORTIUM MEMORANDUM OF UNDERSTANDING<br />
(To be executed on appropriate value of Non-Judicial Stamp Paper as per Stamp Act prevailing in<br />
the State of Andhra Pradesh)<br />
In case of a Bidding Consortium, the principles based on which the Memorandum of<br />
Understanding (MoU) shall be executed between / among the Consortium Members, are stated<br />
below:<br />
1. The MoU should clearly specify the roles and responsibilities of each of the Consortium<br />
Members, along with their proposed equity contribution. It is expected that the individual<br />
members have role definitions not conflicting with those of the other Consortium Members.<br />
2. The MoU should clearly designate one of the Consortium Member as the Lead Consortium<br />
Member. The Lead Consortium Member shall necessarily make the maximum equity<br />
contribution in the Project Company, and this equity contribution shall not be less than 51% of<br />
the equity of the Bidding Consortium, which shall not be diluted till 3 years from the execution<br />
of Development Agreement.<br />
3. The Lead Consortium Member shall be responsible for:<br />
tying up the finances for the Project<br />
ii. ensuring the equity contribution by each of the Consortium Member, and in<br />
the event of a default, make good such contribution.<br />
iii. undertaking primary responsibility for liasoning with the lending institutions<br />
and mobilising debt resources for the Project.<br />
ensuring the individual and collective commitment of each of the Consortium Members in<br />
honouring the Project Company’s obligations. The Lead Consortium Member would be<br />
overall responsible for the execution of the Project. All Consortium Members shall be<br />
jointly and severally liable for the same.<br />
4. The MoU should be duly signed by each of the Consortium Members.<br />
5. The MoU should be executed on an appropriate stamp paper.<br />
6. The MoU should be specific to this Project.<br />
7. The MoU should be valid for a minimum of twelve months from the last date for submission of<br />
the Request for Proposal. The validity period of the MoU should be extendible on the original<br />
terms, if required by TUDA.<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 2<br />
FORMAT OF THE COVERING LETTER<br />
(The covering letter is to be submitted by the Bidding Company or the Lead Consortium Member<br />
of a Bidding Consortium, along with the Cover 1 of the Bid)<br />
To<br />
Date :<br />
Place :<br />
Vice Chairman<br />
Tirupati Urban Development Authority<br />
Tirupati - 517501<br />
Tel.: +91-877-2225803<br />
Fax: +91-877-2225730<br />
Dear Sir,<br />
Sub: Selection of a Private Developer for Integrated Tourism Temple Township Project at Tirupati<br />
in Andhra Pradesh (Tender No.____)<br />
Please find enclosed one (1) original + one (1) copies of our Bid in respect of the Selection of a<br />
Private Developer for Integrated Tourism Temple Township Project at Tirupati in Andhra Pradesh<br />
(Tender No.____) in response to the Request for Proposal (“RFP”) Document issued by the<br />
Tirupati Urban Development Authority ("TUDA") dated ____, 2007.<br />
We hereby confirm the following:<br />
1. The Bid is being submitted by (name of the Bidding Company) who is the Bidding Company /<br />
the Lead Consortium Member of the Bidding Consortium comprising (mention the names of<br />
the entities who are the consortium members), in accordance with the conditions stipulated in<br />
the RFP. (In case of a Bidding Consortium) Our Bid includes the Letter(s) of Acceptance in<br />
the format specified in the RFP, and the MoU (as per the principles stated in the RFP)<br />
between, ____________________(mention names of the entities that are the consortium<br />
members), who are the consortium members as per the conditions stipulated in the RFP.<br />
2. We have examined in detail and have understood the terms and conditions stipulated in the<br />
RFP Document issued by TUDA and in any subsequent communication sent by TUDA. We<br />
agree and undertake to abide by all these terms and conditions. Our Bid is consistent with all<br />
the requirements of submission as stated in the RFP or in any of the subsequent<br />
communications from TUDA.<br />
3. Notwithstanding any qualifications of conditions, whether implied or otherwise, contained in<br />
our Bid, we hereby represent and confirm that our Bid is unqualified and unconditional in all<br />
respects and we agree to the terms of the proposed Development Agreement, a draft of<br />
which also forms a part of the RFP provided to us.<br />
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Tirupathi Urban Development Authority<br />
4. The information submitted in our Bid is complete, is strictly as per the requirements as<br />
stipulated in the RFP, and is correct to the best of our knowledge and understanding. We<br />
would be solely responsible for any errors or omissions in our Bid.<br />
5. We confirm that our Bid is valid for a period of two hundred and eighty (280) days from the<br />
Bid Due Date and the Bid Security shall be valid upto 60 days beyond the bid validity period.<br />
6. The Bidding Company / Bidding Consortium of which we are the Lead Consortium Member<br />
(Please strike out whichever is not applicable), satisfies the legal requirements and meets all<br />
the eligibility criteria laid down in the RFP.<br />
7. A Power of Attorney from the Bidding Company/Lead Consortium Member authorising the<br />
undersigned as the Authorised Representative, Signatory and Contact Person who is<br />
authorised to perform all tasks including, but not limited to providing information, responding<br />
to enquiries, entering into contractual commitments on behalf of the Bidder, etc., in respect of<br />
the Project is included as a part of the Proposal.<br />
For and on behalf of:<br />
Signature:<br />
(Authorised Representative and Signatory)<br />
Name of the Person:<br />
Designation:<br />
Enclosures: Power of Attorney<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 3<br />
DETAILS OF BIDDER<br />
Name of the Bidding Company / Bidding<br />
Consortium<br />
Name of the Lead Consortium Member (In<br />
case of a Bidding Consortium)<br />
In case of a Bidding Consortium:<br />
S. No Name of each<br />
Consortium Member<br />
Proposed % equity<br />
contribution<br />
into the Project<br />
Role as per the MoU signed by<br />
and between all the Consortium<br />
Members<br />
1. (a) Name<br />
(b) Country of Incorporation<br />
(c) Address of the corporate headquarters<br />
(d) Date of incorporation and / or commencement of business<br />
2 Brief description including details of its main lines of business and proposed roles and<br />
responsibilities in this Project.<br />
3 Name, Designation, Address and Phone Nos. of Authorized Signatory of the Bidder:<br />
(a) Name:<br />
(b) Designation:<br />
(c) Company:<br />
(d) Address:<br />
(e) Telephone No:<br />
(f) E-mail Address:<br />
(g) Fax No:<br />
4 Details of individual (s) who will serve as the point of contract / communication for TUDA<br />
within the Company<br />
(a) Name:<br />
(b) Designation:<br />
(c) Address:<br />
(d) Telephone No.<br />
(e) E-mail address:<br />
(f) Fax No.<br />
5 In case of Bidding Consortium, the information above (1-4) should be provided for all the<br />
Members of the Consortium<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 4<br />
FORMAT OF LETTER OF ACCEPTANCE<br />
(The Letter of Acceptance is to be submitted by EACH Consortium Member of the Bidding<br />
Consortium)<br />
To<br />
Date :<br />
Place :<br />
Vice Chairman<br />
Tirupati Urban Development Authority<br />
Tirupati - 517501<br />
Tel.: +91-877-2225803<br />
Fax: +91-877-2225730<br />
Dear Sir,<br />
Sub : Selection of a Private Developer for Integrated Tourism Temple Township Project at<br />
Tirupati in Andhra Pradesh (Tender No.____)<br />
This has reference to the Bid being submitted by ______________________(mention the Lead<br />
Consortium Member of the Bidding Consortium), as Lead Consortium Member of the Bidding<br />
Consortium comprising (mention name(s) of the Consortium Members) in respect of Selection of<br />
a Private Developer for Integrated Tourism Temple Township Project at Tirupati in Andhra<br />
Pradesh (Tender No.____) in response to the Request for Proposal (“RFP”) issued by the Tirupati<br />
Urban Development Authority ("TUDA") dated __, 2007.<br />
We hereby confirm the following:<br />
1. We __________________(name of the Consortium Member furnishing the Letter of<br />
Acceptance), have examined in detail and have understood and satisfied ourselves regarding<br />
the contents including in respect of the following:<br />
The RFP Document issued by TUDA;<br />
All subsequent communications between TUDA and the Bidder, represented by<br />
_______________________(Mention name of the Lead Consortium Member);<br />
The MoU signed between / among ____________________________(names of the<br />
Consortium Members), as members of the Bidding Consortium; and<br />
The Bid being submitted by _________________(name of the Lead Consortium<br />
Member).<br />
2. We have satisfied ourselves regarding our role as ______________________ (here give a<br />
brief description of the role) in the Project as specified in the Bid. If the Bidding Consortium is<br />
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Tirupathi Urban Development Authority<br />
awarded the Project we shall perform our role as outlined in the Bid to the best of our<br />
abilities. We have examined the Bid in detail and the commitments made in the same. We<br />
agree and undertake to abide by the Bid and the commitments made therein.<br />
3. We authorise ____________________ (name of the Lead Consortium Member), as the Lead<br />
Consortium Member and authorise the same to perform all tasks including, but not limited to<br />
providing information, responding to enquiries, entering into contractual commitments etc. on<br />
behalf of the consortium, in respect of this Project.<br />
4. We understand that, no change in the membership in the Bidding Consortium, in the role and<br />
form of responsibility of any Consortium Member shall be permitted after submission of the<br />
Bid upto the end of 3 (three) years after execution of the Development Agreement. If any<br />
change in the membership of the Consortium is desired, it would need to be communicated to<br />
TUDA in writing for its approval. TUDA would reserve the right to reject such requests for a<br />
change of consortium structure, if in its opinion; it would adversely affect the same.<br />
For and on behalf of :<br />
Signature :<br />
Name of the Person :<br />
Designation :<br />
(Authorised Representative and Signatory)<br />
Each Consortium Member will have to attach its Board Resolution/ Undertaking as the case may<br />
be, approving the participation in the consortium, bidding for the Project and authorizing a<br />
company official/ Lead Member to sign the bidding documents.<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 5<br />
PROFORMA OF BANK GUARANTEE FOR BID SECURITY<br />
(To be executed on appropriate value of Non-Judicial Stamp Paper as per Stamp Act prevailing in<br />
the State of Andhra Pradesh)<br />
1. In consideration of the Tirupati Urban Development Authority (hereinafter called “TUDA”<br />
which expression shall include any entity which TUDA may designate for the purpose) having<br />
agreed, interalia, to consider the bid of __________ (hereinafter referred to the “Bidder”<br />
which expression shall include their respective successors and assigns) which will be<br />
furnished in accordance with the terms of the Request for Proposal for Selection of a Private<br />
Developer for Integrated Tourism Temple Township Project at Tirupati in Andhra Pradesh<br />
(Tender No.____) (hereinafter called the “RFP”) in lieu of the Bidder being required to make a<br />
cash deposit, we ______________ [name of the Bank and address of the issuing branch],<br />
hereinafter called the “Bank” which expression shall include our successors and assigns, as<br />
to bind ourselves our successors and assigns do at the instance of the Bidder hereby<br />
unconditionally and irrevocably undertake to pay as primary obligor and not as surety only to<br />
TUDA without protest or demand and without any proof or condition the sum of Rs. 18 crores<br />
(Rupees Eighteen Crores Only).<br />
2. We, the Bank, do hereby unconditionally and irrevocably undertake to pay forthwith (and in<br />
any event within five days) the amounts due and payable under this Guarantee without any<br />
delay or demur merely on a written demand from TUDA stating that the amount claimed is<br />
due by reason of the occurrence of any of the events referred to in the RFP. Any such<br />
demand made on the Bank by TUDA shall be conclusive as regards the amount due and<br />
payable by the Bank under this Guarantee. However, the Bank’s liability under ‘this<br />
Guarantee shall be restricted to an amount not exceeding Rs. 18 crores (Rupees Eighteen<br />
Crores Only).<br />
3. We, the Bank unconditionally undertake to pay to TUDA any money so demanded under this<br />
Guarantee notwithstanding any dispute or disputes raised by the Bidder or any other party<br />
including in any suit or proceeding pending before any court or tribunal relating thereto or any<br />
instructions or purported instructions by the Bidder or any other party to the Bank not to pay<br />
or for any cause to withhold or defer payment to TUDA under this Guarantee. The Bank’s<br />
liability under this Guarantee is irrevocable, unconditional, absolute and unequivocal. The<br />
payment so made by the Bank under this Guarantee shall be a valid discharge of the bank’s<br />
liability for payment hereunder and the Bidder shall have no claim against the Bank for<br />
making such payment.<br />
4. We, the Bank further agree that the Guarantee herein contained shall remain in full force and<br />
effect upto and until 1700 hours on the date which falls 60 days beyond the Bid Validity<br />
Period i.e. _________ (hereinafter called “the End Date”). Unless a demand or claim under<br />
this Guarantee is made on the Bank by TUDA in writing on or before the said End Date the<br />
Bank shall be discharged from all liability under this Guarantee thereafter.<br />
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Tirupathi Urban Development Authority<br />
5. We, the Bank further agree with TUDA that TUDA shall have the fullest liberty without the<br />
Bank’s consent and without affecting in any manner the Bank’s obligation hereunder to vary<br />
any of the terms and conditions of the RFP or to extend or postpone the time of performance<br />
by the Bidder or any other party from time to time or postpone for any time any of the powers<br />
exercisable by TUDA against the Bidder or any of them and to enforce or to forbear from<br />
enforcing any of the terms and conditions relating to the RFP and the Bank shall not be<br />
relieved from it’s liability by reason or any forbearance act or omission on the part of TUDA,<br />
or any indulgence given by TUDA to the Bidder or any other party or by any such matter or<br />
thing whatsoever which under the law relating to securities would, but for this provision, have<br />
the effect of so relieving the Bank.<br />
6. To give full effect to the obligations herein contained, TUDA shall be entitled to act against<br />
the Bank as primary obligor in respect of all claims subject of this Guarantee and it shall not<br />
be necessary for TUDA to proceed against the Bidder or any other party before proceeding<br />
against the Bank under this Guarantee and the Guarantee herein contained shall be<br />
enforceable against the bank as principal obligor.<br />
7. This Guarantee will not be discharged or affected in any way by the liquidation or winding up<br />
or dissolution or change of constitution or insolvency of any individual member of the Bidder<br />
or any other party or any change in the legal constitution or insolvency of the Bidder or any<br />
other party or any change in the legal constitution of the Bank or TUDA.<br />
8. We, the bank lastly undertake not to revoke this Guarantee during its currency except with<br />
the previous consent of TUDA writing.<br />
Notwithstanding anything contained herein.<br />
a) Our liability under the Bank Guarantee shall not exceed Rs. 18 crores (Rupees Eighteen<br />
Crores Only).<br />
b) The Bank Guarantee shall be valid upto [date].<br />
c) Unless acclaimed or a demand in writing is made upon us on or before _____, all our<br />
liability under this guarantee shall cease.<br />
IN WITNESS WHEREOF THE BANK HAS SET ITS HANDS HERETO ON THE DAY, MONTH<br />
AND YEAR MENTIONED HEREUNDER.<br />
Signed and Delivered<br />
On behalf of ………………….(Bank name)<br />
by the hand of Mr ……………<br />
(name of authorized signatory)<br />
(Signature)<br />
(Date)<br />
Designation<br />
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Tirupathi Urban Development Authority<br />
Address of the controlling office of the issuing branch with phone number and fax number to be<br />
provided.<br />
Note: Authenticated copy of Letter of Authority authorizing the signatory of this guarantee to<br />
execute the same to be enclosed herewith).<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 6<br />
GUIDELINES FOR PROVIDING INFORMATION RELATED TO EXPERIENCE<br />
& CAPACITY<br />
GUIDELINES FOR PROVIDING INFORMATION RELATED TO EXPERIENCE<br />
1. Member Code : NA= Not Applicable in case of a single entity Bidder, LM =Lead<br />
Consortium Member, M =Member.<br />
2. The Statutory Auditor issuing the certification for Experience of the Bidder must hold a<br />
valid Certificate of Practice.<br />
3. Any Bidder consisting of a single entity should fill in details as per the row titled Bidding<br />
Company and ignore the other rows mentioned below. In case of a Bidding Consortium,<br />
the details need to be provided as per the lower rows and the row titled Bidding Company<br />
may be ignored.<br />
4. The Bidder should provide details of only those projects undertaken by it. Project<br />
experience of the Bidder's parent company or its subsidiary or any Associate company<br />
(who is not a member of the Consortium) will not be considered for computation of the<br />
Experience. The Bidder should have held atleast 26% equity as on the date of<br />
commissioning. The experience would be considered in proportion to equity/share<br />
in Bidding Consortium.<br />
5. In case that the members intending to quote experience have participated in the same<br />
project, then these members may quote same project provided that their scope of work<br />
were independent. The scope of work shall not be considered to be independent in case<br />
of any project if:<br />
(i) Any member is sub-contractor of other member.<br />
(ii) Payment of billings to any member has been made out of billings of the other<br />
member.<br />
6. The Factors for Experience to be used for calculations shall be in accordance with Table<br />
6.2 in Section 6.2.7.<br />
7. Project Cost for Category 1 shall be calculated in the following manner and should be<br />
provided as Supporting Calculations to Exhibit 7, Bid Response 1:<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
Name of<br />
Project<br />
Year of<br />
Commissioning<br />
Project Cost<br />
(Crore)<br />
In relevant<br />
currency<br />
Exchange<br />
Rate<br />
Project Cost in<br />
INR<br />
(Rs. Crore)<br />
Year 1 Currency 1<br />
Year 2 Currency 2<br />
(A) (B) (C) = (A)*(B)<br />
8. Certified Billings under Category 2 shall be calculated in the following manner and should<br />
be provided as Supporting Calculations to Exhibit 7, Bid Response 3:<br />
Name of<br />
the<br />
Project<br />
Financial<br />
Year<br />
Year 1<br />
Year 2<br />
Year 3<br />
Year 4<br />
Year 5<br />
Annual<br />
Certified<br />
Billings<br />
(Crore)<br />
in relevant<br />
currency<br />
Exchange<br />
Rate<br />
Annual<br />
Certified<br />
Billing<br />
(Rs. Crore)<br />
Total Certified<br />
Billing<br />
(Rs. Crore)<br />
(A) (B) (C) = (A)*(B) (E) = sum of (C)<br />
9. The exchange rate to be used for calculations shall be in accordance with Section 4.3.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 6 [Contd.]<br />
GUIDELINES FOR PROVIDING INFORMATION RELATED TO FINANCIAL CAPABILITY<br />
The Bidder should provide the Financial Capability based on its own financial statements.<br />
Financial capability of the Bidder's parent company or its subsidiary or any associate company<br />
(who are not Members of the Consortium) will not be considered for computation of the Financial<br />
Capability of the Bidder.<br />
1. Member Code NA= Not Applicable in case of a single entity Bidder, LM = Lead Consortium<br />
Member, M = Member.<br />
2. Any Bidder consisting of a single entity should fill in details as per the row titled Bidding<br />
Company and ignore the other rows mentioned below. In case of a Consortium, the details<br />
need to be provided as per the lower rows depending upon the number of Consortium<br />
members and the row titled Bidding Company may be ignored.<br />
3. Instructions for calculation of Financial Capability:<br />
(a) Net Cash Accruals = (Profit After Tax + Depreciation + Other non-cash expenditure –<br />
non-cash income)<br />
(b) Net Worth = (Subscribed and Paid-up Equity + Reserves) - (Revaluation reserves +<br />
Miscellaneous expenditure not written off)<br />
(c) The financial year would be the same as followed by the Bidder for its annual report. Year<br />
1 will be the last Financial Year. Year 2 shall be the year immediately preceding Year 1.<br />
(d) The Bidder shall provide audited Annual Reports as required under this Bid Document.<br />
For a Bidding Consortium, audited Annual Reports of all Members shall be provided.<br />
(e) In case of a Bidding Consortium comprising of members with holdings in each other, the<br />
cross holdings between the group companies comprising part of the Consortium will be<br />
deducted for the purpose of Net Worth calculations.<br />
Request For Proposal<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 7<br />
INFORMATION FORMAT FOR TECHNICAL CAPABILITY ASSESSMENT<br />
Bid Response 1<br />
Experience of the Bidder Under Category 1<br />
Bidder<br />
Type<br />
Member<br />
Code<br />
Name of<br />
the<br />
Project<br />
Date & Year of<br />
commissioning<br />
Equity<br />
Shareholding<br />
Project<br />
Cost<br />
(Rs.<br />
Crores)<br />
Factor for<br />
Proposed<br />
Equity in<br />
Consortium<br />
Experience<br />
Score<br />
Bidding<br />
Company<br />
Consortium<br />
Member 1<br />
Consortium<br />
Member 2<br />
Consortium<br />
Member 3<br />
Aggregate Experience Score =<br />
Note :<br />
1. The Bid Response for establishing Experience of the Bidder shall be filled in accordance with<br />
the guidelines provided in Exhibit 6.<br />
2. The above stated experience shall also be duly certified by a Statutory Auditor in the format<br />
provided in Bid Response 2.<br />
3. The Bidder should provide details for each of the Eligible Projects in separate rows.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 7 [contd.]<br />
Bid Response 2<br />
Format for Certification by Statutory Auditor<br />
This is to certify that ___________ (Name of the Bidder/Bidding Consortium Member) has<br />
promoted _____________ (Title & Nature of the Project). This Project was commissioned on<br />
_______ (Date of commissioning of the Project) and __________ (Name of the Bidder/Bidding<br />
Consortium Member) held ____% 1 of the equity capital in the Project as on the date of<br />
commissioning. We further certify that total cost of the Project as on the date of commissioning<br />
was _______.<br />
This has been calculated in accordance with the provisions of the Request for Proposal (RFP)<br />
Document issued by Tirupati Urban Development Authority (TUDA) for the development of<br />
Integrated Tourism Temple Township.<br />
Signature and Membership No. of Statutory Auditor<br />
Note:<br />
1. To be provided by Bidding Company and for each member of Bidding Consortium claiming<br />
experience under Category 1.<br />
1 Refer instruction no.4 from Exhibit 6 of the Bid Document<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 7 [contd.]<br />
Bid Response 3<br />
Experience Under Category 2<br />
Bidder<br />
Type<br />
Member<br />
Code<br />
Total Certified<br />
Billings<br />
(Rs. Crore)<br />
Factors for<br />
Experience<br />
Bidding<br />
Company 0.67<br />
Consortium<br />
Member 1 0.67<br />
Consortium<br />
Member 2 0.67<br />
Consortium<br />
Member 3 0.67<br />
Factors for<br />
Proposed<br />
Equity in<br />
Consortium<br />
Experience<br />
Score<br />
Aggregate Experience Score =<br />
Note :<br />
1. The Bid Response Sheet for establishing Experience of the Bidder shall be filled in<br />
accordance with the guidelines provided in Exhibit 6.<br />
2. The above stated experience shall also be duly certified by a Statutory Auditor in the format<br />
provided in Bid Response 4.<br />
3. The Bidder shall provide details of the Project(s) in the format provided in Bid Response 5.<br />
4. The Bidder should provide details for each of the Eligible Projects in separate rows.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 7 [contd.]<br />
Bid Response 4<br />
Format for Certification by Statutory Auditor<br />
This is to certify that,<br />
M/s _________________________ (Name of the Bidder) is / has successfully executing /<br />
executed the __________________ (Title of the Project) for ________________ (name of<br />
Client).<br />
M/s. _______________ has had a Total Certified Billings of Rs. _____________ Crores as on<br />
____________(Date) with respect to the said Project.<br />
This has been calculated in accordance with the provisions of the Request for Proposal (RFP)<br />
Document issued by Tirupati Urban Development Authority (TUDA) for the development of<br />
Integrated Tourism Temple Township.<br />
Signature and Membership No of Statutory Auditor.<br />
Note<br />
1. To be provided by the Bidding Company and for each member of Bidding Consortium<br />
claiming experience under Category 2.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 7 [contd.]<br />
Bid Response 5<br />
Name of Bidder:<br />
Member Code:<br />
Category:<br />
1. Name of Contract<br />
Country<br />
2. Name of Employer<br />
3. Employer’s address, telephone and fax no.)<br />
5. Role (strike out whichever is not applicable)<br />
Prime contractor Subcontractor JV<br />
6. Value of the Total Contract (in specified currencies and INR)<br />
7. Value of the Bidder’s Contract (in specified currencies and INR)<br />
8. Certified Billings till date (in specified currencies and INR)<br />
9. Date of Commencement of Project/ Contract<br />
10. Date of Completion/ Commissioning<br />
Instructions<br />
1. Information provided in this section is intended to serve as a back up for information provided<br />
in accordance with Bid Response 3.<br />
2. The Projects cited must comply with the eligibility criteria specified in Section 6.2.3.<br />
3. A separate sheet should be filled for each of the Eligible Projects.<br />
4. The Bid Response 5 should be supported by a certificate from the Employer in the format<br />
provided in Bid Response 6.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 7 [contd.]<br />
Bid Response 6<br />
Format for Certification by Employer<br />
This is to certify that,<br />
M/s _________________________ (Name of the Bidder) is / has successfully executing /<br />
executed the __________________ (Title of the Project) for ________________ (name of<br />
Client).<br />
M/s. _______________ has had a Total Certified Billings of Rs. _____________ Crores as on<br />
____________(Date) with respect to the said Project.<br />
(Signature of Authorised Signatory)<br />
(Name, Title and Address of the Employer)<br />
Note<br />
1. To be provided by Bidding Company and for each member of Bidding Consortium claiming<br />
experience under Category 2.<br />
2. To be provided for each of the Eligible Projects.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 8<br />
FORMAT FOR ESTABLISHING FINANCIAL CAPABILITY OF THE BIDDER<br />
Bid Response 7<br />
Format for Financial Capability of Bidding Company<br />
Net Worth and Net Cash Accruals<br />
Net Worth<br />
(Rs. Crore)<br />
Net Cash Accruals<br />
(Rs. Crore)<br />
Year 1 Year 1 Year 2<br />
Note :<br />
1. The above stated Financial Capability shall be duly certified by a Statutory Auditor in the<br />
format provided as Bid Response 9.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 8 [contd.]<br />
Bid Response 8<br />
Format for Financial Capability of Bidding Consortium<br />
Net Worth and Net Cash Accruals<br />
Bidding<br />
Consortium<br />
Member<br />
Consortium<br />
Member 1<br />
Consortium<br />
Member 2<br />
Consortium<br />
Member 3<br />
Member<br />
Code<br />
Net Worth<br />
(Rs. Crore)<br />
Net Cash Accruals<br />
(Rs. Crore)<br />
Year 1 Year 1 Year 2<br />
Weighted Aggregate Net worth = Rs________ Crore<br />
Weighted Average Net Cash Accruals = Rs________ Crore<br />
Note:<br />
1. The above stated Financial Capability shall be duly certified by a Statutory Auditor in the<br />
format provided as Bid Response 9.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 8 [contd.]<br />
Bid Response 9<br />
Format for Certification by Statutory Auditor<br />
This is to certify that M/s _______________ (Name of the Bidder) has Net Worth and Net Cash<br />
Accruals (calculated in accordance with the Bid Document) as set out in the following tables:<br />
Net Worth and Net Cash Accruals<br />
Net Worth<br />
(Rs. Crore)<br />
Net Cash Accruals<br />
(Rs. Crore)<br />
Year 1 Year 1 Year 2<br />
Signature and Membership No of Statutory Auditor<br />
Note :<br />
1. To be provided by Bidding Company and by each member of Bidding Consortium.<br />
Request For Proposal<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 8 [contd.]<br />
Bid Response 10<br />
Sample Format for submission of Equity Financing Plan for Bidding Company<br />
Rs Crores<br />
S No Source Amount<br />
1 Reserves & Surpluses<br />
2 Bank Facility<br />
3 Real Estate Liquidation<br />
4 From Parent/ Group Company<br />
5 Other Source<br />
6 Total (Committed Equity for the Project)<br />
S<br />
No<br />
Sample Format for submission of Equity Financing Plan for the Bidding Consortium<br />
Rs Crores<br />
Source<br />
1 Reserves & Surpluses<br />
2 Bank Facility<br />
3 Real Estate Liquidation<br />
4 From Parent/ Group Company<br />
5 Other Source<br />
6 Total (Committed Equity for the<br />
Project)<br />
7 Total Equity contribution in the SPV<br />
(%) for this Project<br />
8 Funds committed for the SPV for this<br />
Project<br />
Consortium<br />
Member 1<br />
Consortium<br />
Member 2<br />
Consortium<br />
Member 3<br />
Total<br />
Bidders to Note:<br />
In the above table, the Total mentioned at row number 6 (Total committed equity financing)<br />
should not be less than the Total of row number 8 (the funds committed by an individual members<br />
for this Project in proportion to its equity shareholding in the SPV for the Project). In case, the<br />
sum Total at row number 6 is less than the sum Total of row number 8, the bidding capacity of the<br />
bidder would be considered as inadequate for the project and bidder would be declared as “fail’.<br />
Request For Proposal<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 8 [contd.]<br />
Bid Response 11<br />
Format for evidence of reserves / cash for participation in the equity contribution of the<br />
proposed project<br />
(On the letterhead of the Statutory Auditors of the firm)<br />
This is to certify that M/s. ________________________________________ is having<br />
unencumbered reserves and surpluses of Rs._____________ in its accounts.<br />
After reducing the future committed capital investments (till one month before the Proposal<br />
submission date), M/s _______________________ will be having Rs._____________ for<br />
investment in new Capital investments.<br />
Signed<br />
__________<br />
Name of Statutory Auditor<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 8 [contd.]<br />
Bid Response 12<br />
Format for evidence of access to or availability of credit facilities equity participation in<br />
the proposed project<br />
BANK / FINANCIAL INSTITUTION CERTIFICATE<br />
(From any Scheduled Indian Bank or foreign bank or Financial Institution located in India and<br />
approved by Reserve Bank of India)<br />
This is to certify that M/s. ________________________________________ is a reputed<br />
company with a good financial standing.<br />
If the project, namely ___________________________________ is awarded to the above firm,<br />
we shall be able to provide credit facilities to the extent of Rs. _____________________ to meet<br />
their capital requirements for equity participation in the Project (Name of the Project)<br />
This certificate is issued with the approval of Head Office of the Bank / Financial Institution.<br />
Signature _______<br />
Name and Designation of the Competent Authority of the Bank / Financial Institution<br />
Name, Address and Phone number of the Issuing Branch<br />
Note: For the purpose of the certificate, Bank / Financial Institution will be defined as under:<br />
1. State Bank of India and its subsidiaries<br />
2. Any Indian Nationalized Bank<br />
3. IDBI or ICICI Bank<br />
4. Financial Institutions as approved by RBI<br />
5. Investment Institutions (e.g. LIC, GIC etc.)<br />
6. NBFC’s approved by RBI and having a Net Worth of more then Rs 250 crores<br />
7. Foreign Bank (issued by a branch outside India) with a counter guarantee from SBI or its<br />
subsidiaries or any Indian Nationalized Bank<br />
8. Any scheduled Commercial Bank approved by RBI having a net worth of not less than Rs<br />
1000 crores as per the latest Annual Report of the Bank. In case of a Foreign Bank<br />
(issued by a branch in India), the net worth in respect of Indian operations shall only be<br />
taken into account.<br />
9. The capital adequacy of the Bank shall not be less than the norms prescribed by RBI<br />
10. The Bank Certificate issued by a Cooperative Bank shall not be accepted<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 9<br />
TECHNO-BUSINESS PROPOSAL<br />
Bid Response 1<br />
Format for list of successful projects under consideration for Technical Evaluation<br />
Project Name:<br />
Location within the Country:<br />
Country:<br />
Approx Value of Project (Rs Crores):<br />
Total Built-Up Space (Sq Ft): Break up of development (Residential/<br />
Commercial/ Industrial/ Others)<br />
Whether carried out individually or as a<br />
consortium member:<br />
Start Date<br />
(Month/Year)<br />
Name of Contractors (if any)<br />
End Date<br />
(Month/Year)<br />
In case of consortium, % share in consortium/<br />
JV:<br />
Status of Project (Completed/ Under<br />
Construction):<br />
In case of Consortium, other Consortium<br />
Members and their % share<br />
Name of Senior Staff (Project Director/ Team Leader) involved in and functions performed:<br />
Narrative Description of the Project:<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 9 (Contd.)<br />
Bid Response 2<br />
Format for Key Personnel under consideration for Technical Evaluation<br />
Name of the<br />
team member<br />
Current<br />
Designation,<br />
Qualification<br />
Proposed<br />
Position in the<br />
project<br />
Major Projects<br />
worked on<br />
Relevant Work<br />
experience (in<br />
years)<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 10<br />
COMMERCIAL OFFER FORMAT<br />
To<br />
Date :<br />
Place :<br />
Vice Chairman<br />
Tirupati Urban Development Authority<br />
Tirupati - 517501<br />
Tel.: +91-877-2225803<br />
Fax: +91-877-2225730<br />
Dear Sir,<br />
Sub: Selection of a Private Developer for Integrated Tourism Temple Township Project at Tirupati<br />
in Andhra Pradesh (Tender No.____)<br />
Please find enclosed our Commercial Offer in respect of the Sub: Selection of a Private<br />
Developer for Integrated Tourism Temple Township Project at Tirupati in Andhra Pradesh<br />
(Tender No.____), in response to the Request for Proposal (“RFP”) Document issued by the<br />
Tirupati Urban Development Authority (“TUDA”) dated ___.<br />
Our offer of Development Fee to Tirupati Urban<br />
Development Authority in Indian Rupees (INR)<br />
Our offer of Revenue Sharing to Tirupati Urban<br />
Development Authority out of sale of Residential<br />
space in Percentage (%)<br />
Our offer of Revenue Sharing to Tirupati Urban<br />
Development Authority out of sale of Commercial<br />
space in Percentage (%)<br />
We hereby confirm the following:<br />
a. We confirm that we shall make the payment of the Development Fee to Tirupati Urban<br />
Development Authority as per the following schedule:<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
Instalment<br />
No.<br />
Milestone<br />
Percentage of<br />
Development Fee<br />
1 Before or on the date of execution of Development Agreement 20%<br />
2 Within 180 days of execution of Development Agreement 80%<br />
b. We confirm that we shall make the payment of the Advance Fee of Rs 5 crores (Rs<br />
5,00,00,000/-) to Tirupati Urban Development Authority. The Advance Fee payable to<br />
TUDA shall be set off against revenue share payable to TUDA as per terms specified in<br />
the RFP. The Advance Fee shall be payable as per the following schedule:<br />
Instalment<br />
No.<br />
Milestone<br />
Percentage of<br />
Advance Fee<br />
1 Before or on the date of execution of Development Agreement 20%<br />
2 Within 180 days of execution of Development Agreement 80%<br />
c. We have examined in detail and have understood the terms and conditions stipulated in<br />
the RFP Document issued by TUDA and in any subsequent communication sent by<br />
TUDA. We agree and undertake to abide by all these terms and conditions. Our<br />
Commercial Offer is consistent with all the requirements of submission as stated in the<br />
RFP or in any of the subsequent communications from TUDA.<br />
d. We have made our Commercial Offer after surveying the land and infrastructure facilities<br />
at the [________] site to our satisfaction and are aware of the condition of the said land<br />
and the infrastructure facilities and thus have indemnified the Tirupati Urban<br />
Development Authority against any liability that may arise in the future for the same. For<br />
avoidance of doubt, it is clarified that the Tirupati Urban Development Authority shall<br />
have no liability towards any claims by the Selected Developer with regards to the<br />
condition of the land and infrastructure facilities at the [_________] site.<br />
e. Notwithstanding any qualifications of conditions, whether implied or otherwise, contained<br />
in our proposal we hereby represent and confirm that our proposal is unqualified and<br />
unconditional in all respects and we agree to the terms of the proposed Development<br />
Agreement, a draft of which also forms a part of the RFP provided to us.<br />
f. We confirm that our Bid is valid for a period of time of 280 days from ______________<br />
(Bid Due Date).<br />
g. We also understand that the final selection is solely based on the Commercial Offer and<br />
as such our offer shall be incorporated without any changes whatsoever in the<br />
Development Agreement to be signed between Tirupati Urban Development Authority<br />
and the Project Company.<br />
For and on behalf of :<br />
Signature :<br />
Name of the Person :<br />
Designation :<br />
(Authorised Representative and Signatory)<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 11<br />
SITE MAP<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 12<br />
SAMPLE CALCULATIONS FOR COMMERCIAL OFFER<br />
Note: The calculations given below are for example purpose only and the numbers have no<br />
bearing to the actual business plan of Project.<br />
Assuming the Business Plan of the Project as:<br />
Residential Built-up Area (A)<br />
Commercial Built-up Area (B)<br />
: 1,000,000 sq. ft<br />
: 1,00,000 sq. ft<br />
Year 2009 2010 2011 2012 2013<br />
Percentage Sale<br />
Residential (C) 10% 15% 20% 25% 30%<br />
Retail (D) 15% 15% 25% 25% 20%<br />
Sale Price(Rs/ Sq ft)<br />
Residential (E) 1000 1100 1200 1300 1400<br />
Retail (F) 2000 2250 2500 2750 3000<br />
As such, the cash realization to the Bidder as TUDA’s assumed Business Plan shall be as:<br />
Figures in Rs Crores<br />
Year 2009 2010 2011 2012 2013<br />
Residential [G = A x C x E] 10.00 16.50 24.00 32.50 42.00<br />
Retail [H = B x D x F] 3.00 3.38 6.25 6.88 6.00<br />
Assuming the Commercial Offers of Bidders as:<br />
Bidder 1<br />
Development Fee (I)<br />
: Rs 10 crores<br />
% Residential Revenue Sharing (J) : 10%<br />
% Commercial Revenue Sharing (K) : 15%<br />
Bidder 2<br />
Development Fee (L)<br />
: Rs 15 crores<br />
% Residential Revenue Sharing (M) : 05%<br />
% Commercial Revenue Sharing (N) : 10%<br />
With the assumed Business Plan of TUDA, the implied cashflows to TUDA from the<br />
Bidders are as:<br />
Figures in Rs Crores<br />
Request For Proposal<br />
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Tirupathi Urban Development Authority<br />
Year 2007* 2008* 2009** 2010** 2011** 2012** 2013**<br />
Bidder 1 2.00 8.00 1.45 2.16 3.34 4.28 5.10<br />
Bidder 2 3.00 12.00 0.80 1.16 1.83 2.31 2.70<br />
* 20% of the Development Fee assumed to accrue in year 2007 as being within 30 days of<br />
Development Agreement, and 80% accruing in year 2008 as being due in 180 days from the<br />
execution of Development Agreement<br />
** For Bidder 1 = G x J + H x K<br />
Bidder 2 = G x M + H x N<br />
With the above implied cashflows, the NPV calculated @ 12.00% i.e. NPV(12.00%,<br />
cashflows 2007:2013) for the Bidders is as:<br />
NPV<br />
Rs Crores<br />
Bidder 1 18.97<br />
Bidder 2 19.02<br />
The Ranking of the Commercial Offers from the Bidders in relative attractiveness to TUDA<br />
i.e. descending order of NPV is as:<br />
NPV<br />
Rs Crores<br />
Bidder 2 19.02<br />
Bidder 1 18.97<br />
Preferred Proposal<br />
Request For Proposal<br />
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Tirupathi Urban Development Authority<br />
EXHIBIT 13<br />
EVALUATION FINANCIAL MODEL<br />
Provided as a separate downloadable document with name<br />
EVALUATION_AND_FINANCIAL_MODEL.xls<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
71
Tirupathi Urban Development Authority<br />
EXHIBIT 14<br />
DRAFT <strong>DEVELOPMENT</strong> AGREEMENT<br />
Provided as a separate downloadable document with name Development Agreement Draft 1004.pdf<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
72
Tirupathi Urban Development Authority<br />
EXHIBIT 15<br />
PROPOSAL BY ORIGINAL PROJECT PROPONENT<br />
Provided as a separate downloadable document with name OPP.pdf.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
73
Tirupathi Urban Development Authority<br />
EXHIBIT 16<br />
MEMORANDUM OF AGREEMENT<br />
Provided as a separate downloadable document with name MOA.pdf.<br />
Request For Proposal<br />
Development of Integrated Tourism Temple Township on Public Private Partnership Basis<br />
74