REQUEST FOR PROPOSALS (RFP)
Finance Consultant / Firm
Vikhroli Warehouse Redevelopment Project
The Indian Red Cross Society (IRCS), National Headquarters (NHQ), through its Project Implementation Committee (PIC), invites proposals from qualified financial consultancy firms or individual consultants to provide financial oversight services for the Vikhroli Warehouse Redevelopment Project.
Preference will be given to firms/consultants based in Mumbai and Delhi.
The proposal process will follow a Two-Bid System consisting of Technical and Financial Proposals submitted separately.
Introduction
IRCS/PIC seeks a reputable and experienced financial consultancy firm or individual consultant to conduct independent concurrent financial review and verification of the Vikhroli Warehouse Redevelopment Project.
The objective is to ensure:
- Accountability and transparency
- Compliance with financial regulations and donor requirements
- Adherence to best financial and procurement practices
Project Background
IRCS plans to demolish and reconstruct its existing warehouse at:
118, Lal Bahadur Shastri Road, Surya Nagar, Chandan Nagar, Vikhroli West, Mumbai – 400083.
The new facility will be a modern, sustainable, and energy-efficient warehouse.
The Canadian Red Cross (CRC) is the principal donor supporting the project. Project funds are managed by IRCS and the Project Implementation Committee (PIC).
Monthly stakeholder meetings are conducted to ensure transparency, coordination, and communication among all stakeholders.
Objectives
The selected consultant will be responsible for:
- Verifying the tendering process from publication to selection of the final bidder/service provider.
- Reviewing procurement and service contracts during the project tenure.
- Assessing internal controls and risk management in procurement and contracting.
- Verifying financial records and compliance with IRCS accounting standards.
- Ensuring project funds are utilized as per the MoU between IRCS and CRC.
- Identifying any fraud, misuse, or financial weaknesses.
- Participating in online PIC meetings to support financial decisions.
- Acting as the finance focal point for submission of project financial documents to the CRC Ottawa office in coordination with PIC and IRCS-NHQ.
Scope of Work
The consultant will undertake the following tasks:
- Review financial statements of the project periodically (e.g., quarterly) prepared by the Project Accountant and verified by IRCS-NHQ.
- Examine transactions, contracts, procurement, and compliance processes.
- Conduct site visits and asset verification, where necessary.
- Prepare financial review reports on behalf of IRCS-NHQ and PIC according to MoU requirements.
- Verify procurement, tendering, and payment processes during project implementation.
- Participate in online PIC meetings to provide financial inputs.
- Provide capacity building and financial guidance to internal finance staff.
- Review procurement and tendering procedures in accordance with prevailing government and IRCS/CRC practices.
Deliverables
The consultant will provide:
- Periodic financial review reports with findings and recommendations.
- Presentations or briefings to IRCS, PIC, and the donor (if required).
- Assistance in preparing financial documentation for donor reporting.
Proposal Submission Requirements
Interested applicants must submit two separate proposals:
Technical Proposal (score 70%)
The Technical Proposal should include:
- Profile of the firm/consultant
- CV of the proposed Chartered Accountant (minimum 6 years experience)
- Relevant experience in financial review, infrastructure projects, or donor-funded projects
- Experience working with humanitarian or non-profit organizations
- Methodology and approach for carrying out the assignment
- Proposed work plan and timeline
- References from previous clients
Important: The Technical Proposal must not include any financial information.
Financial Proposal (score 30%)
The Financial Proposal should include:
- Monthly professional fee (flat fee)
- Detailed cost breakdown
- Confirmation that the cost includes travel for minimum one monthly site visit
- Any applicable taxes
The minimum monthly fee for the assignment is ?50,000 (Fifty Thousand only).
Airfare and accommodation, if required, will be reimbursed separately as per IRCS rules.
Evaluation Process
The evaluation will be conducted in two stages.
Stage 1 – Technical Evaluation (70% weighted)
Only Technical Proposals will be evaluated initially.
Criteria Weight
Relevant Experience & Qualifications (including civil/electrical bill processing and examination of measurement books in large infrastructure projects with CPWD/PWD/Municipal Bodies etc.) Total 50%
(30 marks for 6 years)
(40 marks for 10 years)
(45 marks for 12 years)
(50 marks for more than 15 years)
Experience working with National Societies or Humanitarian Organizations 10 marks
Interview / Proposed Methodology and Work Plan 25 marks
Timeline and Availability 15 marks
Only bidders achieving the minimum qualifying technical score (to be decided by IRCS/PIC) will proceed to the next stage.
Stage 2 – Financial Evaluation (30% weighted)
- Financial proposals will be opened only for technically qualified bidders.
- The final selection will be based on a combined evaluation of Technical and Financial scores.
Project Monthly Fees
- Minimum one site visit per month to the Vikhroli construction site and IRCS Maharashtra State Branch office.
- Travel costs for these visits should be included within the monthly package.
- Minimum fee: Rs 50,000 per month.
- Airfare and accommodation may be reimbursed separately as per IRCS policy.
Submission Details
Both proposals must be submitted in separate sealed envelopes, each clearly marked:
Technical Proposal – Finance Consultant for Vikhroli Warehouse Redevelopment Project
Financial Proposal – Finance Consultant for Vikhroli Warehouse Redevelopment Project
Submission will be accepted by post / courier / hand delivery (by 11th May 2026)
To:
Postal Address:
Indian Red Cross Society,
Maharashtra State Branch,
141, Shahid Bhagat Singh Road
Town Hall Compound, Fort
Mumbai – 400001
For any query:
Email: vikhroliproject@gmail.com
Terms and Conditions
- IRCS/PIC reserves the right to accept or reject any proposal without assigning reasons.
- All costs related to proposal preparation will be borne by the applicants.
- The selected consultant must sign a contract and confidentiality agreement.
- Proposals must clearly indicate the monthly flat professional fee in the Financial Proposal.