Investor Model · Loan_Projection_V3

Financial Projections

The full 3-year model from the CFO workbook. Every input is editable and the whole model recalculates instantly. Edits are local to this session.

At a glance

Dashboard

Capital allocation · raise → lending + runway

Total Raise

₹ Cr

equity round raised

Lending Deposit

₹ Cr

equity base · × multiple below

Lending Capacity

₹150.00 Cr

deposit × leverage

Cash Reserve

₹30.00 Cr

raise − deposit

Total Y1 Expense

₹18.65 Cr

all-in accrual incl provision + set-up

Cash Left after Y1

₹26.53 Cr

reserve − net cash burn

Raise = Lending deposit + Cash reserve

Deposit

Reserve

Cash reserve → after Year 1

Cash left

Y1 burn

Cash burn (₹3.47 Cr) is less than total expense (₹18.65 Cr) because the ₹2.57 Cr provision is a non-cash accrual and the book earns ₹12.61 Cr of interest + fees in Year 1.

✓

EBITDA positive in Y3

Y3 EBITDA ₹31.24 Cr on ₹1575.00 Cr disbursed

Disbursed

Y1₹150.00 Cr

Y2₹525.00 Cr

Y3₹1575.00 Cr

Loans

Y13,000

Y27,500

Y315,750

AUM (Total Book)

Y1₹150.22 Cr

Y2₹560.19 Cr

Y3₹1713.80 Cr

EBITDA

Y1-₹5.18 Cr

Y2-₹4.53 Cr

Y3₹31.24 Cr

Monthly Disbursement vs Collections

AUM (Total Book) Growth

EBITDA by Year

Income vs Expense by Year

Drivers & cases ramp

Loan Engine

Drivers

Avg ticket by year₹ Lakh

Cost of capital by year% p.a.

Interest rate (p.a.)

Tenure

Processing fee

EMI @ current terms: Y1 ₹25,204 · Y2 ₹35,286 · Y3 ₹50,409

Cases Disbursed / Month (36 months)

Month	Year 1	Year 2	Year 3
M1
M2
M3
M4
M5
M6
M7
M8
M9
M10
M11
M12
Total	3,000	7,500	15,750

Cases Ramp & Monthly Interest Income

Per-loan margin by disbursal year

Unit Economics

Per loan · % of disbursed

Component	Year 1	Year 2	Year 3
INCOME
Interest	19.00%	19.00%	19.00%
Processing Fee	2.50%	2.50%	2.50%
Total Income	21.50%	21.50%	21.50%
DIRECT COST
Cost of Capital	10.00%	9.50%	9.00%
Techeditable assumption
Collectioneditable assumption
Opexeditable assumption
Bad Debtseditable assumption
Total Direct Cost	19.00%	18.50%	18.00%
Contribution Margin	2.50%	3.00%	3.50%

Per-loan economics by disbursal year. Interest, processing fee and cost of capital are read live from the Loan Engine (cost of capital steps down as the book seasons: 10.0% → 9.5% → 9.0%). Tech, collection, opex and bad-debts are editable per-loan variable-cost assumptions (flat across years) — they tune this margin view only and do not change the P&L / EBITDA, which come from the cost sheets.

Income → Direct Cost → Contribution (Year 1 shown)

Loan allocation

City Break Up

Loans by City

City	Year 1	Year 2	Year 3
Bangalore
Pune
Delhi
Gurgaon
Mumbai
Ahmedabad
Chennai
Kochi
Kolkata
Chandigarh
Indore
Jaipur
City total	3,000	13,000	30,000
Σ cases / year	3,000	7,500	15,750

The city break-up is an allocation view — the engine is driven by cases/month (Loan Engine), not by this table. Sheet allocates at 1000-loan granularity.

⚠ City totals don't match the loans disbursed per year (Y1 3,000 vs 3,000 · Y2 13,000 vs 7,500 · Y3 30,000 vs 15,750). This is a reconciliation note only — it doesn't change the model.

Computed · read-only

P&L

Profit & Loss (₹)

Line	Year 1	Year 2	Year 3
Disbursed	₹150.00 Cr	₹525.00 Cr	₹1575.00 Cr
Interest Income	₹8.86 Cr	₹55.59 Cr	₹169.06 Cr
Processing Fee	₹3.75 Cr	₹13.13 Cr	₹39.38 Cr
Total Income	₹12.61 Cr	₹68.71 Cr	₹208.44 Cr
Cost of Capital	₹5.73 Cr	₹30.61 Cr	₹87.53 Cr
Direct Cost	₹5.73 Cr	₹30.61 Cr	₹87.53 Cr
Contribution	₹6.88 Cr	₹38.11 Cr	₹120.91 Cr
Tech	₹2.40 Cr	₹3.28 Cr	₹4.60 Cr
Operations	₹6.31 Cr	₹13.84 Cr	₹22.73 Cr
Marketing	₹78.00 L	₹1.90 Cr	₹3.62 Cr
Provision	₹2.57 Cr	₹23.63 Cr	₹58.72 Cr
Expense	₹12.06 Cr	₹42.64 Cr	₹89.67 Cr
EBITDA	-₹5.18 Cr	-₹4.53 Cr	₹31.24 Cr
EBITDA %	-41.0%	-6.6%	15.0%
AUM (year-end book)	₹150.22 Cr	₹560.19 Cr	₹1713.80 Cr

Contribution Waterfall

Build & infrastructure

Tech Cost

Tech Spend (₹ Lakh)

Item	Year 1 ₹L	Year 2 ₹L	Year 3 ₹L
1. SALARIES (Hired team — Bengaluru CTC)
Tech Lead / Architect
React Native Developer (×2)
Backend Engineer Node (×2)
Product Manager
UI/UX Designer
ML / AI Engineer
Backend Engineer Python
Frontend Dev (Next.js)
QA Engineer
DevOps Engineer
2. CLOUD INFRASTRUCTURE & THIRD-PARTY APIS
AWS Dev + Staging Environment
AWS Production Environment
Perfios / Finbit (Bank Stmt)
DigiLocker / eKYC API
CIBIL / Equifax API
SMS / WhatsApp (MSG91)
Razorpay / Cashfree Setup
Monitoring (Sentry + Datadog)
Dev Tools (GitHub, Figma etc)
Anthropic Claude API
Castler
Google Maps / Geo API
Total	₹2.40 Cr	₹3.28 Cr	₹4.60 Cr

Year-2/3 line values were distributed from the workbook's salary & infra subtotal growth; every cell is editable.

Tech Total by Year

Headcount, variable & offices

Operations

Roles (salaries)

Item	Rate	Year 1	Year 2	Year 3
Credit Manager	₹30.0L	₹30.00 L	₹66.00 L	₹1.45 Cr
Credit Executive	₹5.0L	₹5.00 L	₹11.00 L	₹24.20 L
Regulatory/Legal Manager	₹30.0L	₹30.00 L	₹66.00 L	₹1.09 Cr
Regulatory/Legal Executive	₹5.0L	₹3.75 L	₹11.00 L	₹18.15 L
Marketing Manager	₹30.0L	₹30.00 L	₹66.00 L	₹1.09 Cr
Field Executive	₹3.0L	₹6.75 L	₹26.40 L	₹43.56 L
Customer Service/Sales Executives	₹2.4L	₹3.60 L	₹52.80 L	₹1.45 Cr
Customer Service Manager	₹25.0L	₹0	₹25.00 L	₹55.00 L
Finance & Accounts Manager	₹30.0L	₹30.00 L	₹66.00 L	₹1.09 Cr
Accounts Executive	₹3.0L	₹2.25 L	₹6.60 L	₹14.52 L
HR Manager	₹30.0L	₹30.00 L	₹33.00 L	₹72.60 L
HR Executive	₹3.0L	₹2.25 L	₹6.60 L	₹10.89 L
Office Staff/Security	₹2.0L	₹3.00 L	₹8.80 L	₹14.52 L
Director	₹50.0L	₹2.50 Cr	₹2.75 Cr	₹3.03 Cr
Roles (salaries) subtotal		₹4.27 Cr	₹7.20 Cr	₹11.73 Cr

Variable costs

Item	Rate	Year 1	Year 2	Year 3
Regulatory	100/Loan/Mth	₹18.00 L	₹81.00 L	₹1.84 Cr
Maintenance Cost	50/Loan/Mth	₹9.00 L	₹40.50 L	₹1.84 Cr
Travelling Expense (Promoters)	30k/Head/Mth	₹18.00 L	₹19.80 L	₹19.80 L
Employee Engagement	1Lac/Mth	₹24.00 L	₹26.40 L	₹29.04 L
Legal Cost	1Lac/Mth	₹12.00 L	₹13.20 L	₹14.52 L
Travelling Allowance (Employees)	5000/Mth	₹3.60 L	₹9.24 L	₹14.52 L
Escrow Cost	2/1.4/1% of Loan	₹3.00 Cr	₹3.67 Cr	₹4.72 Cr
Insurance Cost	—	₹10.00 L	₹10.00 L	₹10.00 L
Variable costs subtotal		₹3.95 Cr	₹5.68 Cr	₹9.29 Cr

Offices

Item	Year 1	Year 2	Year 3
Rental	₹12.00 L	₹26.40 L	₹58.08 L
Power & Connectivity	₹6.00 L	₹13.20 L	₹29.04 L
Office Maintenance	₹6.00 L	₹13.20 L	₹29.04 L
Misc	₹3.00 L	₹6.60 L	₹14.52 L
Rental	₹18.00 L	₹19.80 L	₹21.78 L
Power & Connectivity	₹6.00 L	₹6.60 L	₹7.26 L
Office Maintenance	₹6.00 L	₹6.60 L	₹7.26 L
Misc	₹3.00 L	₹3.30 L	₹3.63 L
Offices subtotal	₹60.00 L	₹95.70 L	₹1.71 Cr

Operations Total — model driver (₹/yr)

Line	Year 1	Year 2	Year 3
Operations Total (₹L)
Operations Total (₹)	₹6.31 Cr	₹13.84 Cr	₹22.73 Cr

The three groups above are the workbook breakdown (reference). The model is driven by the workbook's authoritative Operations Total — the Y1 total sits below the group sum because the Director draw is excluded from Y1 in the workbook. Edit the total to flex operations spend.

Operations Total by Year

Sponsorships & branding

Marketing & Sales

Marketing Spend (₹ Lakh)

Item	Year 1 ₹L	Year 2 ₹L	Year 3 ₹L
Bangalore - Sponsorship
Pune - Sponsorship
Delhi - Sponsorship
City 4 - Sponsorship
City 5 - Sponsorship
City 6 - Sponsorship
City 7 - Sponsorship
City 8 - Sponsorship
City 9 - Sponsorship
City 10 - Sponsorship
City 11- Sponsorship
City 12- Sponsorship
Branding (Incl Digital)
Misc
Total	₹78.00 L	₹1.90 Cr	₹3.62 Cr

Marketing Total by Year

One-time & capex

Set-Up Cost

Set-Up Spend (₹ Lakh)

Item	Year 1 ₹L	Year 2 ₹L	Year 3 ₹L
Company Formation
Brand Development
Laptops
UI/UX Design (contract designer)
Security VAPT Audit
Office Set-Up
Total	₹86.30 L	₹23.10 L	₹65.55 L

Set-up cost feeds the post-setup EBITDA line (EBITDA after set-up), not the headline EBITDA.

Set-Up Total by Year

RBI norms

Bad-Debt Provisioning

Blended Provisioning Rate

Line	Year 1	Year 2	Year 3
Blended rate %
AUM (year-end book)	₹150.22 Cr	₹560.19 Cr	₹1713.80 Cr
Provision (₹)	₹2.57 Cr	₹23.63 Cr	₹58.72 Cr

Provision = year-end total book (AUM) × blended rate. The blended rate follows RBI provisioning norms (standard / sub-standard / doubtful & loss) as computed in the workbook; edit it to stress the book.