(j) Reference work executed by a Bidder as a sub-contractor may also be
considered provided the certificate issued by main contractor is duly certified by
Project Authority specifying the scope of work executed by the sub-contractor in
support of qualifying requirements.
2.0.0 Financial Criteria:
a) The average annual turnover of the Bidder should not be less than INR
3750.00 Lakh (Indian Rupees Three Thousand Seven Hundred Fifty Lakh
only) during the preceding three (3) completed financial years as on date
of Techno-Commercial bid opening.
In case Bidder does not satisfy the average annual turnover criteria, stipulated above on its
own, its Holding Company would be required to meet the stipulated turnover requirements as
above, provided that the Net worth of such Holding Company as on the last day of the
preceding financial year is at least equal to or more than the paid-up share capital of the
Holding Company. In such an event, the Bidder would be required to furnish along with its
techno-commercial bid, a Letter of Undertaking from the Holding Company, supported by the
Holding Company's Board Resolution, as per the format enclosed in the bid documents,
Pledging unconditional and irrevocable financial support for the execution of the Contract by
the Bidder in case of award.
(b) Net worth of the bidder should not be less than 100% of the bidders paid up share capital
as on the last day of the preceding financial year. In case the Bidder meets the
requirement of Net Worth based on the strength of its Subsidiary (ies) and / or Holding
Company and / or Subsidiary (ies) of its Holding Companies wherever applicable, the Net
worth of the bidder and its Subsidiary (ies) and /or Holding Company and / or Subsidiary (ies)
of the Holding Company, in combined manner should not be less than 100% of their total paid
up share capital. However individually, their Net worth should not be less than 75% of their
respective paid up share capitals .For Consortium/Joint Venture, wherever applicable, the net
worth of all Consortium/Joint Venture members in combined manner should not be less than
100%of their paid up share capital. However individually, their Net Worth should not be less
than 75% of their respective paid up share capital.
Net worth in combined manner shall be calculated as follows:
Net worth (combined)=(X1+X2+X3) / (Y1+Y2+Y3) X 100
Where X1, X2 X3 are individual net worth which should not be less than 75% of the respective
paid up share capitals and Y1, Y2, Y3 are individual paid up share capitals.
(c)In case the Bidder is not able to furnish its audited financial statements on standalone entity
basis, the unaudited unconsolidated financial statements of the Bidder can be considered
acceptable provided the Bidder further furnishes the following documents for substantiation of
its qualification.