I am so tired of dealing with EPF and their bureaucracy. I am convinced that there is a system wide initiative in EPF to block as many claims as possible and keep money locked into the system. Apparently they are denying 1 out of 3 claims.

According to EPF's rules posted on their website here, an employee can withdraw their full employee contribution along with interest if they did not receive wages for more than 2 months. Non-receipt of wages can be for any reason other than strike. There are no other conditions listed in the document. All of this is described pretty clearly under Para 68H Section A. Many websites and blogs also describe this withdrawal clause with similar terms.

I have not received wages for more than 2 months and it is not due to strike. So I satisfy the conditions listed in the section. I filed a withdrawal claim online requesting a withdrawal under non-receipt of wages of section. (Don't get me started on how bad the website is and how hard it is file a claim.. :|).

I get a response 15 days later saying my claim was denied. Reason was given as "1) NOT ELIGIBLE FOR ADVANCE UNDER SUCH PARA 2) NOT ELIGIBLE-INSUFFICIENT SERVICE". This makes no sense since there is no requirement for minimum service under this section.

I filed a grievance on their portal and the response I got was that "This is only when your company declared lockout and not paid wages for more than 2 months". They are reading their own rules wrong and denying claims based on their incorrect understanding! The reason they gave in the claim denial does not even match the reason they gave in response to the grievance. The final nail in the coffin is that the grievance was closed as complete and there is now no way to escalate this case except to send emails to random officers listed on the EPF website and hope that they respond.

This is completely unacceptable in 2024. Why does an officer get to deny a valid withdrawal claim and then provide no way to get the claim reviewed? Why does the officer even need to review a simple claim which can be checked automatically by the system and approved?

Some of the other withdrawal clauses have more requirements. If they can't approve a simple case with almost no requirements, how can I expect that they will carefully review complicated claims and respond properly? What if I have a medical emergency and need these funds? These funds are simply locked away in a black box with no hope of easy access.

• Which bank do you recommend for savings account or fixed deposits?

• How's your experience with wealth management services? For example, you can discuss your experience with Citigold / CitiPriority, Kotak Privy League, DB WealthPro, Axis Burgundy, ICICI Bank Wealth Management etc.

• What bank offers the best forex rates?

• Discuss the quality of the bank's mobile apps and the services they offer.

• How are the lending practices at your bank? Did your home loan / car loan / education loan get approved on time

  Were you required to purchase additional products (like insurance) to avail a loan?

You can also ask for a general review of a particular product or services that you have been researching:

Is bank X good? Is it recommended for basic services no-frills accounts?

but please avoid asking for personal advice.

The discussion is meant for consumption by a broader audience.

For advice regarding your personal situation (like My family is pressurising me to take a home loan, what would you suggest?), the bi-weekly advice thread is recommended.

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Links to previous threads

Same as the title, thought process behind this question is that , 12-15% on long term can be made without even paying any attention to the investment just by investing in index funds.

So if answer is yes then are you all making it? Then please share resources to learn so that I and other like me can also learn

Original Source: https://boringmoney.in/p/wework-gets-a-bad-deal-embassy-great (my newsletter Boring Money. If you like what you read, do visit the original link to subscribe. It would mean a lot!)

--

Well, here’s a convenient transaction. From the Economic Times:

Embassy Group is looking to list coworking office platform WeWork India in the domestic bourses within 18 months after acquiring US-based WeWork's 27% stakeholding in the Indian entity for about ₹700 crore, said two people with direct knowledge of the matter.

Post the acquisition, the Bengaluru-based property developer will own 100% of WeWork India. Of the total, Embassy will sell 40% stake to Enam Group, A91 Partners, CaratLane founder Mithun Sacheti, and others for ₹1,200 crore, said the people cited above.

Following the divestment, Embassy will retain a 60% stake, inclusive of 5% as Esops, before proceeding with an initial public offering, the people said.

Embassy Group is a real estate company. It owns 73% of WeWork India.1 WeWork US owns the remaining 27%. WeWork US is, unfortunately, bankrupt. So it wants to sell off its 27% stake in WeWork India to do bankruptcy stuff like repaying lenders, affording its lawyers, you get the idea.

Embassy is buying out WeWork US’s 27% for ₹700 crore. That’s a ₹2,600 crore ($310m) valuation. Embassy will then own 100% of WeWork India. All good till now. But then Embassy itself will sell 40% of WeWork India to some outside investors for ₹1,200 crore. That’s a ₹3,000 crore ($360m) valuation.

There are already two valuations here. Embassy buys from WeWork US at ₹2,600 crore and sells to Enam Group and the others at ₹3,000 crore—a 16% difference. But chuck that. There’s more happening here.

Embassy doesn’t really end up owning 100% of WeWork India. I mean, it might in theory, but it’s just flipping its stake. Here’s another way to interpret the same transaction:

1. Enam Group, etc. are the ones buying 27% of WeWork India from WeWork US. They’re paying ₹700 crore. That’s the original ₹2,600 crore valuation.
2. They’re also buying another 13% from Embassy. For this, they’re paying ₹500 crore. That makes it a ₹3,800 crore ($450m) valuation.

In the reported version that I quote at the start, Embassy pays ₹700 crore and gets ₹1,200 crore. But it’s effectively Enam and the other investors who are paying that ₹700 crore. And, separately, paying another ₹500 crore to Embassy for its stake. That’s ₹1,200 crore in all.

The two valuations are ₹2,600 crore and ₹3,800 crore—a 46% difference!

Buyer beware

WeWork India is a private company with two shareholders. Embassy is the majority shareholder, WeWork US is the minority shareholder. WeWork US is desperate to sell, and Embassy is in a position to call the shots.

Private companies’ shareholders’ agreements can have pretty much anything written into them.2 Embassy almost certainly has a “right of first refusal” which gives it the first right to buy WeWork US’s stake if it wants to sell. It also probably has other transfer restrictions which make it difficult or maybe even impossible for WeWork US to sell to an outside investor directly, even if they offer a better price.

The gist of it is that Embassy can dictate who WeWork US sells to, and consequently at what price. In 2020, WeWork had invested $100 million in WeWork India for its 27% stake. It’s been 4 years now, and WeWork India seems to be doing reasonably well. And yet, WeWork is losing money on its initial investment—it’s selling for only about $85 million.

WeWork US is selling to Embassy-approved investors at the “family & friends” price. Embassy is keeping the real deal for itself.

​

Footnotes

[1] From what I gather, Embassy owns 68% and has another 5% allocated for employees as compensation via stock options.

[2] There’s nothing extraordinary about transfer restrictions—no company would want possibly rogue investors buying its shares, for instance—sometimes a company might go overboard with what it writes in the shareholders’ agreement. Byju’s is a good example. When investors are buying, they might not choose to ignore oddities in the contract, lest they lose the deal. But later they end up in court!

​

Original Source: https://boringmoney.in/p/wework-gets-a-bad-deal-embassy-great

I'm new to fundamental analysis. My goal is to be able to develop muscle to understand if a company is undervalued or overvalued. I'm a begineer and i'm learning the basics from varsity's fundamental analysis module currently.

What i've learnt is that the ratios tell a story together. One ratio alone is never enough. Furthermore, the ratios themselves mean nothing, they need to be compared to other company's ratios. Furthermore, to evaulate if a company is a good investment or not, the industry in which is operates is also important to know, mainly the addreasble opportunity available to the company. I know there are many more factors.

But I'd love if anyone can suggest a system so that I can learn to ask the right questions and develop the muscle to make a decision.

I've seen people complaining on the internet that 50lpa ctc is not really 50 lpa. Because fixed component is only 25 lakh and others are stocks and RSUs. So the in hand salary is 1.8 lpa etc.

So, say I got all the money as my fixed component (50/12 lakh per month). What am I going to do with the money? Invest it of course. And the average MNC employee is not an industry expert in investing, so they'll invest it in some mutual funds or some popular stocks like ITC, Infy etc.

1. Then what's wrong with stocks and RSUs, they are already doing this job for you. Instead of a diminishing asset like cash, they are giving you stocks, which is good, right?

2. Say I got 10 lakh worth of stock from my company this year. And I have no plans to sells it and redeem the money. After 10 years, I see that the stock has underperformed or crashed. Do I have any security measures (FnO) which guarantees that I'll get at least my CTC worth of money from it, like some form of stop loss ? Or am I as vulnerable to market risks as an average outsider who has this company's stocks ?

3. What about Tax implications? I don't have to pay any taxes on it as long as I don't sell it? That's how stocks work right ? LTCG and STCG?

I don't have a job yet. So asking it here.

Thanks in advance.

Ask your investing related queries here!

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Beware that these answers are just opinions of fellow Redditors and should only be used as a starting point for your research. This is NOT financial advice, in legal sense of the term.

You should strongly consider consulting a registered fee-only financial advisor before making any financial decisions. Ideally, such advisors should be registered with SEBI, and have a registration number.

Links to previous threads.

Original Source: https://boringmoney.in/p/rbi-wants-traders-out-of-currency

(my newsletter Boring Money -- if you like what you read, do visit the original link to subscribe and receive similar future posts directly in your inbox)

--

The most vanilla reason to use a derivative is to hedge your position. Say you’ve bought the stock of Timbuktu, Inc. because you think it will go up. But Timbuktu’s stock performance isn’t just a function of the quality of Timbuktu, its business prospects, etc. It’s also a function of the general market sentiment. But you don’t care about the general market sentiment! You just want to bet on Timbuktu the company! So what you could do is buy a put option on the broad market index. That way, if the general market goes down and takes Timbuktu down with it, you might lose money on the stock but you’ll make money on the option. So it’ll even out.

Derivatives like options are great for hedging because they give the buyer a way to bet on the underlying thing (could be a stock, bond, commodity, whatever) without actually buying or borrowing it. So, of course, people don’t buy and sell options just for vanilla hedging anymore. They buy and sell options because they’re okay spending a small bit of money to bet on the price of the underlying product going up or down.

I mean… I don’t recommend anyone trade options, but yes, you can do that and that’s what people do. But the trades are risky and SEBI even has a slightly annoying warning pop up every time people login to their brokerage accounts. But weird people trading options in the hope of making a lot of money while risking their entire capital is somewhat acceptable for stock stuff, so that’s as far as SEBI might want to go.

On the other hand, the RBI regulates currency stuff, and risky options trading seems to be less acceptable for currency derivatives. From Bloomberg earlier this month:

India’s central bank said it will stick to its requirement for participants in the exchange-traded currency derivatives market to have an actual exposure, and that some players were misusing the facility.

The Reserve Bank of India in 2014 allowed traders to take positions of up to $10 million, which was later raised to $100 million, without having to provide evidence on the underlying hedge. It didn’t do away with the need of having the exposure, top officials said.

“Some market participants have been misusing this to mean a relaxation in documentary evidence is tantamount to no underlying which is not the case, and which is a violation of the law,” Deputy Governor Michael Patra said at a media briefing Friday.

The RBI had issued a circular back in January which said that if anyone wanted to trade currency derivatives involving the Indian Rupee, they could only do so for the vanilla reason of hedging. RBI is apparently sensitive and doesn’t like it when people bet on the direction of the value of the Rupee.

In the panic room

RBI’s new policy was to come into force on April 5 this year, but because of some panic, it decided to defer its implementation by a month. Here’s a glimpse into some of that panic:

"Once this rule comes into effect, we expect a more than 90% fall in our volumes. The market volumes will likely drop by a similar margin," said Arnob Biswas, head forex research at SMC Global Securities.

"From our point of view, this market is practically over, at least for the time being."

Also,

An official at a large brokerage pointed out that only a small portion of their clients - corporates and foreign portfolio investors - would be able to meet the hedging specification.

According to a recent publication by NSE, India's leading exchange for currency derivatives, corporates accounted for just 3.9% of the currency derivatives turnover based on notional turnover in February while foreign investors contributed 6.2%.

Proprietary traders and individual investors were responsible for 80% of the turnover.

"These were the market markers and the liquidity providers. With them out, who will provide prices to the hedgers?," the official said.

If you’re a company that imports, say, marbles from the US to India and buys a USD/INR call option, the RBI is perfectly fine with it. You’re against the Rupee falling against the Dollar between the time you strike a deal and actually pay for your order. But whom do you buy the call option from?

The obvious answer is from someone who takes the other side of the trade. If you’re worried about the INR going down against the Dollar, there might be someone else worried about the opposite. But it’s not realistic to expect this company to turn up on the exchange at the exact same time as you. So, instead, you’d actually be buying this option from a middleman, whose business it is to constantly buy and sell those derivatives (or stocks, or anything) for a living.

Of course, these middlemen, the market makers, aren’t out there to be middlemen. They’re the hedge funds and quant funds, the traders with high-speed computing power running algorithms and strategies with expectations of making a lot of money. [1] They just end up accidentally providing an important service of providing liquidity for other people in the market.

Some figures say that at least 80% [2] of the current turnover of the currency derivatives market comprises prop traders and individual traders. These are the folks just betting on the price going up or down. The ones that aren’t importing marbles from the US. The ones that the RBI wants out. But if they go out, whom are the hedgers going to buy their options from?

What honey is for flies

Okay, so RBI’s new policy is going to reduce liquidity in the currency derivatives market. It already has! I checked the numbers and the turnover is already obliterated to less than 2% of what it was two months back. But let’s hold this thought.

One day before its new policy was to come into force, the RBI put out this press release whose gist goes something like this—“umm, actuallyyyy, there is no change in our policy. The recent circular is just a consolidation of previous directions.”

People’s reaction to RBI’s new circular was panic but RBI is saying they changed nothing? Here’s an angry tweet thread by Deepak Shenoy where he says the RBI’s decision is unruly and it’s essentially lying when it says that there is no change in policy.

I get it! This is what Shenoy points out was in RBI’s old policy:

Any Indian resident can trade currency futures or options on a stock change to hedge an exposure, or otherwise.

And in RBI’s new policy:

Recognized Stock Exchanges shall inform users that while they are not required to establish the existence of underlying exposure, they must ensure the existence of a valid underlying contracted exposure which has been not hedged using any other derivative contract and should be in a position to establish the same, if required.

That “or otherwise” in the older policy gave a lot of leeway which the new policy clearly does not. So… what does the RBI want here exactly? It could’ve just said so then? Did it want to change the policy but not look bad while it did it? No success there, for sure.

I’d like to think that this whole thing was a mistake. That someone at RBI forgot to slip in that “or otherwise” in the new policy and then the org was too embarrassed to admit it. “Hey bros, bros. Chill down. This really was our policy all along. Continue as you would,” RBI seems to say. [3]

For now, the currency derivatives market is dead. But that’s right now! The new policy is fresh. Is the market going to remain dead after, say, 6 months?

RBI is ultimately relying on brokers [4] to ensure that their customers are hedging and not just betting on the price if they trade a currency derivative. But traders don’t need to show proof and hedging and brokers don’t need to ask for it.

The currency derivatives market is already illiquid in comparison to two months ago. In general, any illiquid market is going to see more price fluctuations. [5] And price fluctuations are going to make it lucrative for traders to come in and make a quick buck. [6] The only thing in their way? Brokers who don’t have to check for proof anyway.

I’m not saying that the traders will come back, I don’t know. But the RBI is definitely making it more lucrative for them to come back. I’m marking my calendar at 6 months to check.

​

Footnotes

[1] Overall, that is. And with high volumes. Market making is a low margin, high volume business.

[2] Considering the drop in the currency derivative trading volume already, I’d say the real number is much higher than these estimates. Probably 90–95%.

[3] An obvious question that crops up here is—if there is no change in policy, what exactly did RBI defer until May 3?

[4] Well, sort of. The RBI’s actually relying on the stock exchange, which ultimately relies on brokers. But sure, if the stock exchange feels that a certain broker’s customers may not be hedging and just trading, it can always ask the broker to check.

[5] The guest experts story from last month is a good example of how there can be sharp fluctuations in less liquid options.

[6] This can be a double-edged sword though. If the price goes up and down more, traders can make more money out of each trade. But they can also lose more money.

​

Original Source: https://boringmoney.in/p/rbi-wants-traders-out-of-currency

What do you people think about Tata Chemicals? The company has had good sales growth in last 2 FYs although last 2 quarters had negative growth + slight reduction in operating margins due to reduced demand of soda ash.

Interesting part is that TCL holds 2.53% stake in Tata sons (which during recent IPO news was rumored to be valued at $100 billion) which if taken at market value would significantly raise the book value of TCL.

The P/B ratio is currently 1.3 but if Tata Sons stake is considered then it would be <<1. P/E ratio is 16 which is also decent.

Even the results might not be positive but it is still a stable Tata group company and the reduced demand for soda ash might be transient phenomenon? What's your view and how would you value the unquoted Tata Sons stake worth 60% of the M-cap of TCL itself...

PS: The stock had hit back to back UCs f/b downswing back to original price when the IPO news of Tata Sons came and then was denied later on.

I made a tool that can plot various graphs on mutual funds and indices, allowing you to compare and assess them.

The tool provides the following types of graphs:

• NAV
• SIP Rolling Returns
• SIP Rolling Absolute Value
• Lumpsum Rolling Returns
• Lumpsum Rolling Absolute Value
• Standard Deviation Rolling Annualized Monthly

The data can be analyzed for different rolling time periods - 1, 3, 5, and 10 years.

All the logic for the website is contained in JavaScript files, and no data leaves the user's browser. The tool is also open-source.

Check it out at: https://asrajavel.github.io/mf-analysis/

Wiki: https://asrajavel.github.io/mf-analysis/wiki.html

Github: https://github.com/asrajavel/mf-analysis

https://preview.redd.it/2uttdqn9q9wc1.png?width=1200&format=png&auto=webp&s=7893568b80ee089bdc64732075b10976e3f839ff

https://preview.redd.it/8t3y1vk3q9wc1.png?width=1200&format=png&auto=webp&s=1c12bb574a857907759582c66a24aed789b05e89

https://preview.redd.it/492k6eucq9wc1.png?width=1200&format=png&auto=webp&s=33bc67b2199b5067e4efbf49a11883a9290d7543

Recently, I have come across a post about a journalist claim being declined by HDFC ERGO at https://www.reddit.com/r/personalfinanceindia/s/hl6mftbV68

On the journalist's Twitter thread, someone asked Ditto that why do they suggest HDFC ERGO in spite of being declining customers claim through unethical means. Ditto official handle and it's cofounder replied back saying that the customers who purchased the insurance through Ditto won't face such issues since Ditto fight back with the insurance company through various grievances portal.

As a customer of health insurance, we pay the premium to have piece of mind at money part when we are facing health difficulty. Most of the time, we don't have the mental strength to fight with this crony capitalist insurance companies. Can anyone confirm how much helpful the companies like Ditto when the customers are going through the hassle? If you have first hand experience please share it.

This will probably be a very basic question but I believe that the question of where to invest a sort of ‘large’ lump sum amount that you have saved up through RD could be useful for a lot of people that are just starting out in their finance journey.

Now, the natural advice given by elders is to hold the amount in an FD for guaranteed returns.

However, having that amount fully locked up and unable to use does not sit well with me.

Requesting all seasoned saving and investment veterans yo share some insights on this!

Hi, Is there a good resource (bet it a book or videos in the form of a playlist) to learn about general macroeconomics

This is the promotional content thread for this month. This will be a recurring thread where we waive the "no self promotion" rule that we enforce so strictly.

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Ask your investing related queries here!

The members of /r/IndiaInvestments are here to answer and educate!

Alternatively, you could join our Discord and seek answers to your queries

If you're looking for reviews on any of these following, follow the links:

• which bank or brokerage to use
• which fund house is more capable and trustworthy
• which investing platform to use,
• which insurance company is reliable

Generally speaking, there is no best stock, or fund, or bank, or brokerage, or investment platform.

Answers are always subjective to your personal needs, but use those threads a starting point for you to look at what other Redditors have to say about a company, product, fund, or service.

You can then ask a more specific question about what product or service to buy, once you are able to frame your personal situation.

NOTE If your question is I got 10k INR, what do I do to get most returns out of it?, or anything similar; there is no single answer to this question. But we will also need A LOT MORE information if we are to provide some sort of answer:

• How old are you?
• Are you employed/making income?
• How much? What are your objectives with this money?
• Do you have any loan, or big expense coming up?
• What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know it's 100% safe?)
• What are you current holdings? (Do you already have exposure to specific funds and sectors? Have you invested in equity before?)
• Any other assets? House paid off? Cars? Partner pushing you to spend more?
• What is your time horizon? Do you need this money next month? Next 20yrs?
• Any big debts?
• Any other relevant financial information about you, that will be useful to give you an informed response.

Beware that these answers are just opinions of fellow Redditors and should only be used as a starting point for your research. This is NOT financial advice, in legal sense of the term.

You should strongly consider consulting a registered fee-only financial advisor before making any financial decisions. Ideally, such advisors should be registered with SEBI, and have a registration number.

Links to previous threads.

I have recently decided to take a risk by surrendering a brainless LIC investment. I want to invest in a flexicap that will give good returns predictably in next 10-15 years. While parag parikh is well praised here and elsewhere, many have raised concern as to its humongous AUM.

What's your take on this? JM Flexicap has so far been good as per my research. Please provide some personal insight.

I am more of an invest and forget kind of investor and also have a larger risk appetite.

I have earmarked a certain amount for SIP each month. I am planning to invest 20% of it each in:

• Nifty 50 Index Fund
• Nifty Next 50 Index Fund
• Nifty Midcap 150 Index Fund
• Nifty Smallcap 250 Index Fund
• Nifty Microcap 250 Index Fund

I am looking to choose this method instead of going for a Total Market Index fund is because due to the market cap related weightage, the Total Market Index is heavily dominated by the Nifty50 Index.

The main benefits of my approach (according to me) are:

1. Invest and forget. No doubting whether I chose the right AMC or the right actively managed fund. I will be taking a bet directly on long term potential of the entire Indian market doing well.
2. If I choose an actively managed fund, I will always keep looking at the portfolio and comparing it with the index to see if I made the correct decision.
3. I will save tons of time which I would have otherwise spent looking at charts, expense rations, comparison etc. This time will definitely be better spent on other things like increasing my main source of income.
4. There is going to be a downturn sooner of later and we do not know how most actively managed funds will handle this.

Is there anything obvious which I might have missed around this approach?

I am trying to understand the DCF valuation spreadsheet by AD...

How do you guys calculate the Sales to capital ratio? Afaik it is the ratio of "Change in Revenue YoY" to "Change in Capital" (=+D&A + Cash flow from change in working capital - Capex)

Now this ratio can be negative as well? For ex when the sales of a company decreased in this financial year as compared to last FY...? But putting a negative value for this ratio messes the future projections altogether.

Also there is too much variation in the value of this ratio on a YoY basis but in the spreadsheet, AD has assumed the same ratio for the next 10 years..?

PS: Link to spreadsheet in the comments

So I got a call from paisabazaar for rbl duet credit card which was LTF, butwhen I signed up for it very next day they call me and say Im getting duet plus which has 1500 annual fee, which I never signed up for, when I asked them to give me the regular duet credit card they started telling me how bad the card is and what not and kept pushing me to get the duet plus, thanks to RBI’s policy of taking customers consent, they got caught, otherwise they would’ve just sent me this card.

You can discuss something like these, ITT:

• What brokerage are you using currently?

• Is the brokerage structure suitable to your needs?

• How is the availability of the brokerage service?

  Do you experience issues with login/authentication? Do you experience issues with posting trades to NSE and BSE? Do you experience issues with executing trades at NSE and BSE?

• How do you rate the brokerage reports provided by the brokerage house?

• How are the ancillary products and services provided by the brokerage house?

• Do you use Smallcase to manage your portfolio, and how was the service?

You can ask for a general review of a particular product, or service that you are researching - Is X good? Is it recommended for long-term delivery trades?, but please avoid asking for personal advice.

The discussion is for consumption by a broader audience. For advice regarding your personal situation, the bi-weekly advice thread is recommended.

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Links to previous threads.

All the mutual fund options that are based on world indexes instead of US market, are indirectly 70% invested in US.

Is there any 1 mutual fund which is investing in different markets with a nicer weightage ? Currently i cant even make a basket of mutual funds to invest evenly(or almost evenly) in different markets of the world.

We all know that the general advice is to invest in equities/debts, etc. Real estate is not as highly recommended as these two. I have all my money in FD and mutual funds.

Today, I found out that my father's one plot (no houses built, just land) has grown with 18.7% cagr(1996, 40k then, 43 lacs now after 28 years) in the last 28 years. Another grew with 19.1%(1.2 lacs in 2010, 15 lacs now) cagr in the last 14 years. And these two are not in any tier 1 cities or something. These are in normal towns (municipalities).

I feel like unless I want the liquidity, I should pump all my money into real estate ? I haven't heard of any other instruments growing at 19% cagr for such an extended period of time. They say even Warren Buffet couldn't realise 15% annual growth for 30 years and that if you can, then forbes will take interviews of you. Well, here it is!! 18% for 28 years.

Economic Times says real estate in india is poised to grow at 18.7% cagr from 2020 to 2030.

Then why isn't it talked about as much? I mean, with these growth figures, finance bros should be talking about nothing but real estate.

I am trying to create a financial model to value companies and I am learning from Varsity by Zerodha.

I have successfully created and projected the Balance sheets and P&L Statements on Excel but I am completely stuck with the cash flow statement!

How are we supposed to match the net cash flow with the balance sheet cash value...?

If I try to create a cash flow statement by myself then I get bizarre cash flow values far from the real value as shown in the annual report. If I will copy the CFS from the company's annual reports then there will be no linkage between the CFS and my projected balance sheets and P&L statements (because the company's annual report has a lot of new line items with no associated notes to explain their occurrence and the values can't be deducted simply from the balance sheets) which will make the whole financial model la futile exercise.

Can someone help figure me out what am I missing? Thank you.