In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has received a Letter of Award (LoA) dated ....
PRAVEG · price
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Awaiting price reaction for this filing.
Praveg Limited has received a Letter of Award from the Tourism Corporation of Gujarat Limited to develop, operate, and manage a new resort at Dhordo, Kutch, Gujarat. The project will add 46 luxury tent rooms and 42 dormitories with a total capacity of 252 beds (equivalent to 126 standard rooms), on top of the 30 Bhungas Praveg already runs at the same location. The concession period is 35 years, giving Praveg long-term visibility at this site. The company expects average room rates of ₹12,000–15,000 per night and dormitory rates of ₹2,500–3,500 per bed, with occupancy of around 55–60%, supported by demand during events like the Rann Utsav. The order value is not disclosed at this stage, and the project follows an asset-light concession model.
Positive for shareholders — this is a meaningful capacity expansion in a high-demand tourism destination with a 35-year concession, which should support future revenue and earnings growth, though the near-term financial benefit depends on execution and the yet-to-be-determined contract value.