A. The work contract executed by the bidder’s group company/ subsidiary company shall not be
considered for meeting the qualifying requirement by the bidders.
B. The 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 Requirement.
5.2 Financial Criteria
a) The average annual turnover of the bidder in the preceding three (03) financial years as
on the last date of the month preceding the month of publication of NIT shall not be less
than Rs 187.05 Lakhs (Rs One Hundred Eighty Seven Lakhs and Five Thousand only).
In case a Bidder does not satisfy the 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
Techno Commercial bid documents, pledging unconditional and irrevocable financial
support for the execution of the Contract by the Bidder in case of award.
b) The Net Worth of the Bidder as on the last day of the preceding financial year, of the date of Techno-
commercial Bid opening, shall not be less than 100% of the bidders paid up share capital. 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 the Holding company 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. 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 stand-alone entity
basis, the un-audited unconsolidated financial statements of the bidder can be considered
acceptable provided the bidder further furnishes the following documents for
substantiation of its qualification:
i) Copies of the un-audited unconsolidated financial statements of the bidder along with
copies of the audited consolidated financial statements of the Holding Company.
ii) A certificate from the CEO/CFO of the Holding Company, as per the format enclosed
in the bidding documents, stating that the unaudited unconsolidated financial statements
form part of the consolidated financial statements of the Holding Company.