Appraisal Risk Matrix REC Crisil

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    DATE:

    Type of Project >>>>

    Total Weights Total Score Total Weights Total Score

    Risk parameter

    I. Pre-Construction Risks 30 30

    1. Statutory Clearances 5 5

    2. Non-Statutory Approvals 2 2

    3. Finalization of Key Contracts 13 13

    4. Design Parameters 10 10

    II. Construction Risks 40 40

    III. Operations & Maintenance Risks 10 10

    1. Operational Risks 10 10

    2. Sales & Offtake Risk

    3. Political/Economy and Social Risks

    4. Force Majeure Events

    5. Techno Economic Parameters

    IV.Financials 20 20

    Total Score Obtained 100 100

    100

    Stage of the Proje

    COMPANY NAME :

    Project Name:

    Pre-Construction Construction

    Pre-Construction Construction

    COAL GAS

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    Total Weights Total Score Stage of the Project>> Pre-Construction Construction

    Total Score 100

    Grade Assigned to Project PC1

    80 and above PP1 PC1

    Above 65 and below 80 PP2 PC2

    Above 50 and below 65 PP3 PC3

    Below 50 PP4 PC4

    Grading Matrix >>>

    t

    Operations & Maintenance Project Grading Matrix

    Operations & Maintainence

    HYDEL

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    Ops.&Maint.

    PO1

    PO2

    PO3

    PO4

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    No. Type of Risk Applicable Y/N Weightage Adjusted

    Wt.

    Marks

    Awarded

    Out Of 10

    Approvals/Permits/Clearan

    ces

    I.1 Statutory Clearances 10 10

    TEC Obtained

    Y 1 1 10 10

    Allocation Obtained

    Y 2 2 10 10

    State Government

    Acceptance Ontained

    Y 1 1 10 10

    SG's Consent Obtained

    Y 1 1 10 10

    EC Issued

    Y 2 2 10 10

    Approval from

    MoEF/SGMoEF

    Y 2 2 10 10

    Obtained Aviation

    Clearance

    Y 0.5 0.5 10 10

    Obtained

    Y 0.5 0.5 10 10

    I.2 Non-Statutory5 5

    Techno-economic clearance

    from CEAA

    Water AvailabilityB

    SPU/State Govt. clearanceC

    Pollution Clearance (water

    and air)D

    Environment Clearance (EC)E

    Other Statutory ClearancesH

    F Forest Land Clearance (FC)

    G

    Civil Aviation Clearance for

    chimney height

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    Available as per

    Normative Total

    Requirement

    A Y 3 3 10 10

    Very Good

    Y 1 1 10 10

    Obtained

    Y 1 1 10 10

    1.3 Finalisation of Key

    Contracts 40 40

    Signed PPA for at least

    60% of Capacity

    Y 2 2 10 10

    Highly Favorable

    2 PPA-Tariff Y 2 2 10 10

    Very Good

    3 PPA- Term Y 1 1 10 10

    Very Good

    Y 8 8 10 10Fuel Required at

    Normative Availability

    (NA) for 12 Years is

    tied up

    Y 10 10 10 10

    2

    D A ) Project Implementation

    StructureEPC Contractor

    Finalized and EPC

    Awarded

    Y 8 0 10 10

    Experience of Power

    Sector

    Y 4 0 10 10

    Land/Site

    Others

    AccessB

    Fuel SupplyC

    C

    A PPA - Quantitative

    B PPA - Qualitative

    PPA - (% of capacity)1

    Status of EPC contract

    Contractor

    EPC NON-EPC

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    Advantageous

    Y 3 0 10 10

    D B) Project Implementation

    Structure

    Supplier Finalized and

    Contract Awarded

    Y 7 7 10 10

    Supplier Finalized and

    Contract Awarded

    Y 3 3 10 10

    Very Good

    Y 5 5 10 10

    Contacts Awarded

    Y 1 1 10 10

    Contacts Awarded

    Y 1 1 10 10

    I.4 Design Parameters15 15

    Thermal

    Hydro

    Gas

    Thermal

    Hydro

    Gas

    Thermal

    Gas -Open Cycle

    Combined Cycle

    Thermal

    4 10Y 4

    3 103Y

    O & M Contracts

    Y 102 2

    Status of BTG Package

    Owner's, Owner Engineer's

    Experience/Track RecordE

    F

    Contractor's Relation with

    Owner's Group

    Status of BOP Package

    OthersG

    A Project Cost

    B Availability Factor

    C Heat Rate

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    Gas

    Combined Cycle

    Thermal

    Very Reputed

    F DPR Consultants Y 2 2 10 10

    II. Construction Risk15 15

    Acquired at least 75%

    of Requirement

    Y 5 5 10 10

    Stage 2 Clearance

    Issued

    Y 2 2 10 10

    No History/Very Low

    Risk

    Y 2 2 10 10

    Very Good

    Y 4 4 10 10

    Stage 2 Clearance

    IssuedY 2 2 10 10

    IV. Project Financials15 15

    70:30

    Y 4 4 10 10

    > 1.5

    Y 4 4 10 10

    REC PLR +4%

    Y 3 3 10 10

    >18%

    Y 2 2 10 10

    60-70%

    Y 2 2 10 10

    2 10

    Y 2 102

    Y 2

    A Land/Site

    D Auxiliary Consumption

    Average DSCR

    IRR

    Return on Equity

    Break Even PLF (@ DSCR =1)

    D Evacuation Infrastructure

    EEvacuation Infrastructure -Forestry Clearance

    Debt-Equity

    B

    Plant Site - Forestry

    Clearance

    C Natural Disaster Risks

    E

    Secondary Fuel

    Consumption

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    Total Scored

    10

    DPR Submitted Feasibility Study Done

    Pre-Feasibility

    (Survey of Site) Rejection

    8 4 2 0 1.0In-principle Approval

    from SG Obtained for

    Full requirement

    In-principle Approval

    from SG Obtained for

    partial requirement Source Identified Rejection

    8 6 2 0 2.0

    - - Applied For Rejection

    - - 2 0 1.0

    - -

    Applied For Consent

    of the SPCB Rejection

    8 6 2 0 1.0Public Hearing

    Completed

    Scoping (TOR

    Issued)

    Screening

    Completed Rejection

    8 4 2 0 2.0

    In-Principle Approval

    from MoEF

    SG Forestry

    Recommends

    Application for

    Diversion of Land Rejection

    8 6 2 0 2.0

    - - Applied For Rejection

    8 6 2 0 0.5

    Applied For Rejection

    8 6 2 0 0.5

    5

    Grading Guidelines

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    About 80% or above

    of the Norms

    About 60% or above

    (50% of Fuel Required

    (@NA) for 12 Years is

    tied up

    >50% of Fuel

    Required (@NA) for

    5 Years is tied up No Action Yet

    8 6 4 0 10

    Bids Received and

    Contactor(s) being

    finalized

    Bidders shortlisted and

    RFP Floated RFQ for Bids Floated No Action Yet

    8 4 2 0 0

    Experience of Allied

    Power

    Good experience of

    other than Power

    Sector

    Very Less

    experience of other

    than Power Sector No experience

    8 6 2 0 0

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    Low Risk Medium Risk High Risk Very High Risk

    8 6 4 0 0

    Bids Received and

    Contactor(s) being

    finalized

    Bidders shortlisted and

    RFP Floated RFQ for Bids Floated No Action Yet

    8 6 4 0 7Bids Received and

    Contactor(s) being

    finalized

    Bidders shortlisted and

    RFP Floated RFQ for Bids Floated No Action Yet

    8 6 4 0 3

    Above Average Average Below Average Poor

    8 6 2 0

    5Bids Received andContactor(s) being

    finalized

    Bidders shortlisted and

    RFP Floated RFQ for Bids Floated No Action Yet

    8 4 2 0 1Bids Received and

    Contactor(s) being

    finalized

    Bidders shortlisted and

    RFP Floated RFQ for Bids Floated No Action Yet

    8 4 2 0 1

    15

    4-5 Crores 5-6 Crores 6.0-6.5 Crores 6.5-7.0 Crores

    10 8 6 46-7 Crores 7-8 Crores 8-8.5 Crores > 8.5 Crores

    10 8 6 4

    4-4.5 Crores 4.5-5.0 Crores 5-5.50 Crores > 5.50 Crores

    10 8 6 4

    >85% 70-85% 60-70% 60% 50-60% 40-50% 85% 75-85% 65-75%

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    Y 1 1 10

    Y 0.5 0.5 10

    Y 0.5 0.5 10

    I.3 Key Contracts

    13 13

    A PPA-Quantitative

    Y 2 2 10

    PPA-Tariff Y 1 1 10

    PPA- Term Y 1 1 10

    Y 1 1 10

    Y 2 2 10

    2

    Y 2 0 10

    Status of EPC contract

    AccessB

    OthersC

    Land/SiteA

    PPA -% of Capacity1

    2

    3

    PPA - QualitativeB

    C Fuel Supply

    D A ) Project Implementation Structure

    EPC NON-EPC

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    F DPR Consultants

    II. Construction Risk

    40 40

    Y 7 7 10

    Y 5 5 10

    Y 5 5 10

    Y 5 5 10

    Y 4 4 10

    Y 6 6 10

    Y 6 6 10

    Y

    Y 1 101

    11 10

    FProject Implementation - Plant &Machinery - Costs

    G

    Project Implementation - Plant &

    Machinery -Time Schedule

    Evacuation Infrastructure

    C Natural Disaster Risks

    D

    Evacuation Infrastructure - Forestry

    ClearanceE

    Plant Site - Forestry Clearance

    Auxilary ConsumptionD

    Y 1 1 10

    Secondary Fuel ConsumptionE

    A Land/Site

    B

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    Total Scored

    5

    TEC Obtained DPR Submitted Feasibility Study Done

    Pre-Feasibility

    (Survey of Site) Rejection

    10 8 4 2 0 0.5

    Allocation Obtained

    from SG Obtained for

    Full requirement

    from SG Obtained for

    partial requirement Source Identified Rejection

    10 8 6 2 0 1

    State GovernmentAcceptance Obtained - - Applied For Rejection

    10 - - 2 0 0.5

    SPCB's Consent (NOC)

    Obtained - -

    Applied For Consent

    of the SPCB Rejection

    10 8 6 2 0 0.5

    EC Issued

    Public Hearing

    Completed

    Scoping (TOR

    Issued)

    Screening

    Completed Rejection

    10 8 4 2 0 0.5

    Approval from

    MoEF/SGMoEF

    In-Principle Approval

    from MoEF

    SG Forestry

    Recommends

    Application for

    Divesrion of Land Rejection

    10 8 6 2 0 1

    Obtained Aviation

    Clearance - - Applied For Rejection

    10 8 6 2 0 0.5

    Obtained Applied For Rejection

    10 8 6 2 0 0.5

    2

    Grading Guidelines

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    10 8 6 2 0 0

    Advantageous Low Risk Medium Risk High Risk Very High Risk

    10 8 6 4 0 0

    Supplier Finalized and

    Contract Awarded

    Bids Reeceived and

    Contactor(s) being

    finalized

    Bidders shortlisted and

    RFP Floated RFQ for Bids Floated No Action Yet

    10 8 6 4 0 2.00

    Supplier Finalized and

    Contract Awarded

    Bids Reeceived and

    Contactor(s) being

    finalized

    Bidders shortlisted and

    RFP Floated RFQ for Bids Floated No Action Yet

    10 8 6 4 0 1

    Very Good Above Average Average Below Average Poor

    10 8 6 2 0 1.00

    Contacts Awarded

    Bids Reeceived andContactor(s) being

    finalized

    Bidders shortlisted and

    RFP Floated RFQ for Bids Floated No Action Yet

    10 8 4 2 0 1

    Contacts Awarded

    Bids Reeceived and

    Contactor(s) being

    finalized

    Bidders shortlisted and

    RFP Floated RFQ for Bids Floated No Action Yet

    10 8 4 2 0 1

    10

    Thermal 4-5 Crores 5-6 Crores 6.0-6.5 Crores 6.5-7.0 Crores

    10 8 6 4

    Hydro 6-7 Crores 7-8 Crores 8-8.5 Crores > 8.5 Crores

    10 8 6 4

    Gas 4-4.5 Crores 4.5-5.0 Crores 5-5.50 Crores > 5.50 Crores

    10 8 6 4

    Thermal >85% 70-85% 60-70% 60% 50-60% 40-50% 85% 75-85% 65-75%

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    10 8 6 4

    Combined Cycle 2.0

    10 8 6 4

    Very Reputed Reputed Experienced Limited Exp. Unknown

    10 8 6 4 2

    40

    Acquired at least 75%

    of Requirement

    Acquired at least 50%

    of Requirement

    Acquired at least 33%

    of Requirement

    Land Identified and

    Acquisition in

    progress -Advances

    Paid/Notification

    Issued Not Yet Started

    10 8 6 2 0 7

    Stage 2 Clearance

    Issued

    Applied for Stage 2

    Clearance

    Stage 1 Clearance

    Issued

    Applied for Stage 1

    Clearance Not Yet Started

    10 8 6 2 0 5

    No Hostory/Very Low

    Risk Low Risk Medium Risk High Risk Very High Risk

    10 8 6 2 0 5

    Very Good Above Average Average Below Average Poor

    10 8 6 2 0 5

    Stage 2 Clearance

    Issued

    Applied for Stage 2

    Clearance

    Stage 1 Clearance

    Issued

    Applied for Stage 1

    Clearnce Not Yet Started

    10 8 6 2 0 4

    No Impact and Risk

    completely Addressed

    Low Impact and Risk

    Adequately

    Addressed Average Impact High Impact Very High Impact

    10 8 6 2 0 6

    No Impact and Risk

    completely Addressed

    (10)

    Low Impact and Risk

    Adequately

    Addressed (8) Average Impact (6) High Impact (4) Very High Impact (6)

    10 8 6 2 0 6

    No Impact and Risk

    completely Addressed

    Low Impact and Risk

    Adequately

    Addressed Average Impact High Impact Very High Impact

    1

    1

    1

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    10 8 6 2 0 2

    10

    Available for

    Expansion

    More than Required

    for Capacity

    Adequate for Proposed

    Capacity

    Less than Normative

    Requirement Not Adequate

    10 8 6 2 0 5

    More than AdequateAdequate for Life of

    the PlantAdequate for Medium

    TermAdequate only for

    Short Term Not Adequate

    10 8 6 2 0 5

    20

    70:30 75:25 80:20 85:15 90:10

    10 8 6 2 0

    > 1.5 1.3 - 1.5 1.2 - 1.3 1.1 - 1.2 1.0 - 1.1

    10 8 6 4 2

    REC PLR +4% REC PLR +3% REC PLR +2% REC PLR +1% REC PLR +0.5%

    10 8 6 4 2

    >18% 15-18% 13-15% 10-13% 90%

    10 8 6 4 2 3

    5

    5

    4

    3

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    No. Type of Risk Applicable

    Y/N

    Weightage Adjusted

    Wt.

    Marks

    Awarded

    Out Of 10

    I Statutory Clearances 5 5

    Obtained

    Y 5 5 10 10

    II. Construction Risk 15 15

    Acquired at least 75% of

    Requirement

    Y 2 2 10 10

    Stage 2 Clearance Issued

    Y 2 2 10 10

    No Hostory/Very Low Risk

    Y 2 2 10 10

    Very Good

    Y 2 2 10 10

    Stage 2 Clearance Issued

    Y 1 1 10 10

    No Impact and Risk completely

    Addressed

    Y 3 3 10 10

    No Impact and Risk completely

    Addressed

    Y 2 2 10 10

    No Impact and Risk completely

    Addressed

    Y 1 1 10 10

    III. Operations &

    Maintenance

    III.1 Operational Risks

    18 18

    Very Good

    Land/SiteA

    A Statutory Clearances

    B

    Plant Site - Forestry

    Clearance

    C Natural Disaster Risks

    D

    G

    Project Implementation -

    Plant & Machinery -Time

    Schedule

    H

    Accident/ Damage/

    Destruction

    Evacuation Infrastructure

    E

    Evacuation Infrastructure

    - Forestry Clearance

    F

    Project Implementation -

    Plant & Machinery -

    Costs

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    481/519

    Y 4 4 10 10

    Adequately Covered

    Y 2 2 10 10

    Available for ExpansionY 1 1 10 10

    Low

    Y 1 1 10 10

    Fuel Related Risks

    Very Strong

    Y 2 2 10 10

    Vey High

    Y 2 2 10 10

    More than Adequate

    Y 2 2 10 10

    Adequately Covered

    Y 1 1 10 10

    Adequately Covered

    Y 1 1 10 10

    Adequately Covered

    Y 1 1 10 10

    Adequately Covered

    Y 1 1 10 10

    III.2 Sales/ Offtake Risk 10 10

    Highly Favorable

    Y 1 1 10 10

    Signed PPAs for: >70% of

    Capacity

    Y 2 2 10 10

    Adequately Covered

    Y 1 1 10 10

    A Equipment Performance

    E Source

    F Supplier

    G Fuel - Quantity & Quality

    B

    Performance Guarantee

    & LDs

    CWater Availability &Adequacy

    Cooling TechnologyD

    L

    Environmental/ Pollution

    Risks

    A Demand Risk

    B

    Capacity Tied up through

    PPAs

    I Fuel Price risk

    J Fuel transportation Risk

    K O & M risks

    Evacuation RiskC

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    482/519

    Highly Favorable

    Y 2 2 10 10

    Very Good

    Y 2 2 10 10

    Very Good

    Y 1 1 10 10

    Very Good

    Y 1 1 10 10

    III.3 Political/Economic Risks

    5 5

    Low

    Y 2 2 10 10

    Low

    Y 1 1 10 10Low

    Y 2 2 10 10

    III.4 Force Majeure Risk2 2

    Adequately Covered

    Y 1 1 10 10

    Adequately Covered

    Y 1 1 10 10

    III.5 Techno Economic10 10

    Thermal

    Hydro

    Gas

    Thermal

    Hydro

    Gas

    Thermal

    Gas -Open Cycle

    Y 4 4 10

    Y 3 10B PLF/ Availability 3

    A

    Foreign Exchange -

    Project Cost

    B

    Foreign Exchange - On

    Cost of Generation

    C

    Change of Policies - Fuel

    Supply

    Tariff Risk

    Levelised Tariff

    Quality of Receivables

    Payment Security

    D

    E

    F

    G

    A

    Natural

    Calamity/Disaster

    BNon-Natural: DirectPolitical

    A Project Cost

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    Combined Cycle

    Thermal

    Gas

    Combined Cycle

    Thermal

    IV. Financials

    35 35

    70:30

    Y 7 7 10 10

    > 1.5

    Y 8 8 10 10

    REC PLR +4%

    Y 8 8 10 10

    >18%

    Y 6 6 10 10

    60-70%

    Y 6 6 10 10

    Y 1 101

    D Auxilary Consumption 1

    1Y 1 10

    Y 1 10

    E

    Secondary Fuel

    Consumption

    Average DSCR

    IRR

    Return on Equity

    Break Even PLF (@ DSCR

    =1)

    Debt-Equity

    C Heat Rate

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    484/519

    Total Scored

    5

    5

    15

    Acquired at least 50%

    of Requirement

    Acquired at least 33%

    of Requirement

    Acquistion in progress

    -Advances

    Paid/Notification Not Yet Started

    8 6 2 0 2

    Applied for Stage 2

    Clearance

    Stage 1 Clearance

    Issued

    Applied for Stage 1

    Clearnce Not Yet Started

    8 6 2 0 2

    Low Risk Medium Risk High Risk Very High Risk

    8 6 2 0 2

    Above Average Average Below Average Poor

    8 6 2 0 2

    Applied for Stage 2

    Clearance

    Stage 1 Clearance

    Issued

    Applied for Stage 1

    Clearnce Not Yet Started

    8 6 2 0 1

    Low Impact and Risk

    Adequately

    Addressed Average Impact High Impact Very High Impact

    8 6 2 0 3

    Low Impact and Risk

    Adequately

    Addressed Average Impact High Impact Very High Impact

    8 6 2 0 2ow mpact an s

    Adequately

    Addressed Average Impact High Impact Very High Impact

    8 6 2 0 1

    18

    Above Average Average Below Average Poor

    Some Clearances are Still Pending

    0

    Grading

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    485/519

    8 6 2 0

    Reasonably Covered Medium Coverage Low Coverage Not Covered

    8 6 2 0

    More than Required

    for Capacity

    Adequate for

    Proposed Capacity

    Less than Normative

    Requirement Not Adequate8 6 2 0

    Medium Impact Average Impact High Impact Very High Impact

    8 6 2 0

    Strong Medium Strength Weak Very Weak

    8 6 2 0

    High Average Low Very Low

    8 6 2 0

    Adequate for Life of

    the Plant

    Adequate for Medium

    Term

    Adequate only for

    Short Term Not Adequate

    8 6 2 0

    Reasonably Covered Medium Coverage Low Coverage Not Covered

    8 6 2 0

    Reasonably Covered Medium Coverage Low Coverage Not Covered

    8 6 2 0

    Reasonably Covered Medium Coverage Low Coverage Not Covered

    8 6 2 0

    Reasonably Covered Medium Coverage Low Coverage Not Covered

    8 6 2 0

    10

    Favorable Somewhat Favorable Unfavorable Highly Unfavorable

    8 6 2 0

    Signed PPAs for: 60-

    70% of Capacity

    Signed PPAs for: 50-

    60% of Capacity

    Signed PPAs for: 40-

    50% of Capacity

    Signed PPAs for:

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    486/519

    Favorable Moderately Favorable Lowly Favorable Unfavorable

    8 6 2 0

    Good Average Below Average Poor

    8 6 4 2

    Good Average Below Average Poor

    8 6 4 2

    Above Average Average Below Average Poor

    8 6 2 0

    5

    Medium Impact Average Impact High Impact Very High Impact

    8 6 2 0

    Medium Impact Average Impact High Impact Very High Impact

    8 6 2 0

    Medium Impact Average Impact High Impact Very High Impact

    8 6 2 0

    2

    Reasonably Covered Medium Coverage Low Coverage Not Covered

    8 6 2 0

    Reasonably Covered Medium Coverage Low Coverage Not Covered

    8 6 2 0

    10

    4-5 Crores 5-6 Crores 6.0-6.5 Crores 6.5-7.0 Crores

    10 8 6 4

    6-7 Crores 7-8 Crores 8-8.5 Crores > 8.5 Crores

    10 8 6 4

    4-4.5 Crores 4.5-5.0 Crores 5-5.50 Crores > 5.50 Crores

    10 8 6 4

    >85% 70-85% 60-70% 60% 50-60% 40-50% 85% 75-85% 65-75%

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    487/519

    10 8 6 4

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    488/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    489/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    490/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    491/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    492/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    493/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    494/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    495/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    496/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    497/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    498/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    499/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    500/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    501/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    502/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    503/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    504/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    505/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    506/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    507/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    508/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    509/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    510/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    511/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    512/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    513/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    514/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    515/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    516/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    517/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    518/519

  • 7/31/2019 Appraisal Risk Matrix REC Crisil

    519/519