You know the deal works. You've run the numbers. But when someone across the table asks a question you didn't rehearse, the spreadsheet can't keep up.
Pencil is a structured feasibility engine where pricing, absorption, cost, capital structure, and returns are live — so you test decisions instead of defending formulas.
Runs in your browser. Start with Basic. Upgrade when you need the full engine.
You are in front of a DFI credit analyst.
They ask:
"If absorption follows an S-curve instead of straight-line, what happens to peak equity?"
You know the answer is in the model somewhere.
But the model has floor-by-floor pricing in one file and the feasibility in another. They don't talk to each other.
You say you will confirm by email.
Not because you don't understand the deal. Because the tool can't respond while they're watching.Every "I'll confirm by email" adds 48 hours of delay. Three of those and the term sheet gets tighter.
Your model assumes flat velocity. The banker wants an S-curve. The PE fund wants to see 30% slower sales. Your spreadsheet can't switch between these.
Floor-by-floor pricing lives in one file, the feasibility in another. Change pricing strategy? Manually update revenue in the model.
The model needs to be simple enough to present and rigorous enough to withstand scrutiny. Spreadsheets force you to choose.
You say "65% LTC." They ask "What's peak debt in month 18 under the stressed scenario?" Your model doesn't track that.
You show a sensitivity table. It was hardcoded last Tuesday. If they ask for a different axis, you can't produce it.
The deal isn't the problem.
The gap between what you know and what you can prove in real time is the problem.
Pricing grid feeds absorption. Absorption feeds the waterfall. The waterfall feeds IRR. Change any assumption — the entire chain responds before you lift your hand.
Floor-by-floor, unit-by-unit pricing with base prices, increments, and overrides. Revenue is always connected to the returns engine.
S-curve, straight-line, or custom absorption. Pre-sold units. Deposit and transfer timing. Agent commissions. All linked to the waterfall.
Equity-first or max-leverage. Multi-tranche debt. Cash sweep. Collections fund construction month by month. Peak debt is visible, not assumed.
2D matrix across any two variables. Heat maps. Every IRR, margin, and equity figure responds immediately. Not hardcoded — structural.
One-click IC memorandum. Deal assessment scorecard. IFRS 15 revenue recognition with point-in-time delivery. Board-ready in seconds.
Phase 1 collections fund Phase 2 construction. Unified waterfall. JV profit-share and units-in-lieu structures. Full per-phase returns.
Enter your unit mix and pricing — by type, by floor, by phase. Or use the pricing grid for unit-by-unit control. Revenue updates as you type.
Pricing grid → absorption → waterfall. One chain.Set S-curve absorption, deposit structure, and transfer timing. Structure equity, multi-tranche debt, and collection waterfalls. Cash recycling between phases is automatic.
Debt drawn against gaps. Equity only when required.Adjust price, cost, absorption pace, or interest rate. Watch IRR, capital exposure, and the IC memo respond instantly. Answer the question while it's being asked.
The room changes when numbers respond immediately.Stress price. Stress pace. Stress financing. Identify the break-even threshold before the board asks for it.
Sign up and start modeling in under a minute. No procurement, no IT tickets.
KES, USD, GBP, AED, ZAR, and more. Switch with one click.
Square feet, square metres, acres, hectares. Toggle units globally.
Full theme toggle. Present in the mode that suits your audience.
Board memo, sensitivity tables, cash flow, debt schedule, sources & uses, IFRS 15 financials.
PDF reports, Excel workbooks, shareable project links. One click each.
Start with Basic for free. Upgrade to Professional when you need the full engine. Enterprise for teams managing multiple projects.
Build a feasibility model and see if the deal works.
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For development firms and institutions managing a portfolio of projects.
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