IREL India Limited Tender

The bid capacity required in the given tender is calculated based on the annualized concurrent commitments of the bidder plus the annualized estimated value of the work under consideration. The formula for this calculation is: Annualized Concurrent Commitments + Annualized Estimated Value of the Work ≤ 4 times the Average Annual Turnover of the preceding 3 years. Given the estimated bid value is 49135200, and the minimum average annual turnover required is 124 Lakh (or 1.24 Crore), the bidder's annualized concurrent commitments should not exceed 4 times the average annual turnover, which is: 4 x 1.24 Crore = 4.96 Crore The bid capacity can be determined using the formula: Bid Capacity = 4 * Average Annual Turnover of preceding 3 years - Annualized concurrent commitments. In this case, the bid capacity required is: 4 * 1.24 Crore - Annualized concurrent commitments ≤ 4.96 Crore However, the exact annualized concurrent commitments are not provided. The bid capacity required can also be determined based on prior experience criteria and prior turnover criteria. For prior experience criteria: a) Three similar completed service contracts costing not less than 40% of the estimated value including GST: 0.4 * 49135200 = Rs.1,96,54,080 b) Two similar completed service contracts costing not less than 50% of the estimated value including GST: 0.5 * 49135200 = Rs.2,45,67,600 c) One similar completed service contract costing not less than 80% of the estimated value including GST: 0.8 * 49135200 = Rs.3,93,08,160 For prior turnover criteria: 30% of the estimated value excluding GST: 0.3 * 41650000 = Rs.1,24,95,000 The formulas for calculating the bid capacity required are: 1. Prior Experience Criteria: a) 3 * (similar completed service contracts) >= 0.4 * (estimated value including GST) b) 2 * (similar completed service contracts) >= 0.5 * (estimated value including GST) c) 1 * (similar completed service contracts) >= 0.8 * (estimated value including GST) 2. Prior Turnover Criteria: (average annual turnover for the last 3 years) >= 0.3 * (estimated value excluding GST) 3. Concurrent Commitment Criteria: (annualized concurrent commitments + annualized estimated value of the work) <= 4 * (average annual turnover of the preceding 3 years) Therefore, the bid capacity required in the given tender to bid having value and formulas is FOUND. Answer: FOUND