Tax impact on Equity and Project IRRs

As Naiyer posted a while ago the relationship between project IRR and equity IRR, which constitute a curious trio along with Cost of Debt (CD) in project finance. Below graph indicates how the relationship between EIRR/PIRR inverses when cost of debt equals project...

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Be Careful Excel Warning

If you are using Excel 2013, I’m sure you must have encountered be careful Excel warning. When you try to save a workbook, suddenly a pop-up appears saying “Be careful! Parts of your document may include personal information that can't be removed by the Document...

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What is Incremental IRR?

Incremental IRR is a way to analyze the financial return when there are two competing investment opportunities involving different amounts of initial investment. In this post we will explore how to calculate incremental IRR and how it helps in deciding between two...

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The Curious Case of Negative IRR

Negative IRR indicates that the sum of post-investment cash flows is less than the initial investment; i.e. the non-discounted cash flows add up to a value which is less than the investment. So yes, both in theory and practice negative IRR exists, and it means that an...

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How to Create Hatched Charts in Excel

Hatched charts in Excel look beautiful. They look cool and professional. Hatching or shading between plotted lines enhances charts and helps to convey the story. Creating hatched charts in Excel is rather easy (I’m using Excel 2013). For this illustration we will be...

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Shareholder Loan and Equity IRR

Many a time I’m requested to explain the relation between shareholder loan and the equity IRR. Should shareholder loan be part of equity IRR calculation? And if there are more than one equity investor, what should we do! Shareholder loan is a debt-like form of...

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How Does Excel Calculate IRR?

Have you ever wondered how does Excel calculate internal rate of return (IRR)? I never gave it second thought until I wrote a post on the issues with NPV calculation in Excel. Our reader, Deyan, pointed that similar type of issue can exist with the IRR calculation in...

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Hello There!

naiyer jawaid Hello! and welcome to my blog. This is so exciting you are here.
I blog about Real Estate Development, Investment and Excel on I love to meet new people and share knowledge. Mail me if you would like to get connected, or read more about me.
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