Project Finance

What is Project Finance?

Project finance is a specialized non-recourse or limited-recourse financing structure where debt repayment is primarily secured by the project's projected operating cash flows rather than the general balance sheet of the project sponsors. At MARG Finserv, our Chartered Accountant-led advisory team develops rigorously tested financial models, stress-tests Debt Service Coverage Ratios (DSCR) and structures capital outlays to meet the credit underwriting criteria of Indian commercial banks and NBFCs.

Key Sectors We Advise

We structure bankable project financing packages across asset-heavy and high-growth infrastructure sectors:

• Data Centres: Hyperscale and colocation facilities requiring high power capex, long-tenor senior debt and take-out financing structures.
• Renewable Energy & Solar IPP: Ground-mounted and rooftop solar, wind-solar hybrids and battery storage financing backed by long-term PPAs.
• Industrial Manufacturing: Heavy engineering, auto components, specialty chemicals and pharmaceutical API plants.
• Healthcare & Hospitals: 100+ bed multispecialty hospital construction, medical equipment term loans and working capital.
• Logistics & Warehousing: Grade-A warehouse parks, cold chain storage and multi-modal logistics hubs.

The 5-Step Project Finance Process

Our end-to-end transaction advisory covers every stage from feasibility analysis to final loan disbursement:

• Phase 1: DPR & Financial Modeling: Preparation of Detailed Project Report, Sensitivity Analysis and 10-year projected financials.
• Phase 2: TEV & LIE Coordination: Partnering with approved empaneled agencies to secure robust Techno-Economic Viability reports.
• Phase 3: Lender Shortlist & Term Sheet: Presenting the information memorandum to empaneled PSU banks, private banks and financial institutions.
• Phase 4: Credit Committee & Sanction: Defending the proposal before Bank Zonal and National Credit Committees to secure sanctioned term sheets.
• Phase 5: Documentation & Disbursement: Drafting loan covenants, mortgage creation, Escrow/TRA agreement finalization and staged drawdown management.

Representative Transaction Capability

Our track record includes advising on a ₹250 Cr structured project debt mandate for an enterprise data centre project, as well as a ₹180 Cr senior debt consortium syndication for a 50 MW solar power producer in Western India.