1. Determine the terminal value of the project after five years assuming that FCFF will grow perpetually at the rate of 5 percent per year.
2. Estimate NPV of the project.

Year	1	2	3	4	5
Revenue	4400	4900	5400	5900	6400
Expenses	2400	2700	3000	3300	3600
EBITDA	2000	2200	2400	2600	2800
Interest Payments @ 8%	165	175	185	194	202
Depreciation @ 15%	900	945	983	1016	1043
Profit Before Tax	935	1080	1232	1390	1554
Tax @ 30%	281	324	370	417	466
Profit After Tax	655	756	862	973	1088
Year	0	1	2	3	4	5
Equity	6000	6375	6754	7104	7429	7734
Debt	2000	2125	2251	2368	2476	2578
Total Liabilities	8000	8500	9005	9472	9906	10313
Gross Fixed Assets	6000	7200	8400	9600	10800	12000
Less Accumulated Depreciation	0	900	1845	2828	3844	4887
Net Fixed Assets	6000	6300	6555	6772	6956	7113
Working Capital	2000	2200	2450	2700	2950	3200
Total Assets	8000	8500	9005	9472	9906	10313

Company	Year Ending	Face Value	Book Value	M Cap	Net Income	Equity	Debt	Equity Beta
Advanta India Ltd.	Dec-11	10	222.1	8704	142.2	3744.2	5738.3	0.5472
Britannia Industries Ltd.	Mar-12	2	43.5	58237.8	1678.7	5200.4	281.5	0.2638
GlaxoSmithkilne Consumer Healthcare Ltd.	Dec-11	10	272	121160.1	3552	11441.8	0	0.0959
Jubilant Foodworks Ltd.	Mar-12	10	46	74938.8	1073.4	2995.5	0	0.9856
Kwality Dairy (India) Ltd.	Mar-12	1	8.9	6116.3	909.9	910.5	4248	0.6357
Rei Agro Ltd.	Mar-12	1	26.6	8966.9	2347.4	23611.8	38540.5	0.5393
Venky's (India) Ltd.	Mar-12	10	336.3	4669.2	351.6	3157.9	985.7	0.669
Zydus Wellness Ltd.	Mar-12	10	47.8	15336.9	676.5	1868.6	0	0.5372