Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit an intimation regarding the execution of a Strategic Inventory ....
PRAVEG · price
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Awaiting price reaction for this filing.
Praveg Ltd has signed a 3-year Strategic Inventory Agreement with Mahindra Holidays & Resorts India Limited (MHRIL, part of the Mahindra Group, operating under 'Club Mahindra') for its upcoming premium island resort, Praveg Atoll at Thinnakkara in Lakshadweep. Under the deal, MHRIL will secure 25 rooms on a floating basis at the property, which is expected to become operational shortly. Praveg will continue to operate and manage the property, while leveraging MHRIL's strong holiday member base to drive occupancy. The partnership is aimed at strengthening Praveg's position in India's exclusive island tourism segment and improving revenue visibility for the new project.
Positive for shareholders — tie-up with a marquee national hospitality brand provides demand visibility and occupancy support for the upcoming Lakshadweep property, potentially boosting revenue and brand credibility once operations commence.