Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed Transcript of Earnings ....
PRAVEG · price
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Praveg Limited reported H1 FY26 consolidated revenue of INR 77.71 crores, up 28.94% year-on-year, with EBITDA of INR 10.17 crores but a net loss of INR 14.97 crores. The company now operates over 825 rooms across 17 resorts and 1 hotel, with a new theme park at Adalaj launched in September 2025. Margins were under pressure due to higher costs at newly opened properties, seasonal closures of 4 resorts during Q2, monsoon impact, and fixed PPP lease commitments to the government. Management guided that H2 will be significantly stronger given seasonal demand (October-March), recovery in the exhibition and events business (which had dropped sharply to INR 10 crores from INR 50-80 crores earlier), and strong traction in advertising (INR 24 crores done in H1 versus INR 32 crores full year earlier). Expansion announcements include 200 rooms at Thinnakara (Lakshadweep) and 126 additional rooms in Kutch on a 35-year lease. Capex requirement for H2 is only INR 10-15 crores, funded through promoter/group support and an investor-led development model.
Management expects a sharp rebound in H2 driven by seasonality and recovering exhibition business, with incremental margins of 70-75% on additional H2 revenue. The warrant forfeiture removed equity dilution risk, and limited debt (INR 5-10 crores in working capital limits) keeps the balance sheet flexible. For shareholders, the stock has corrected significantly from its earlier highs, and the call signals operational execution plus a clear H2 recovery narrative, though near-term profitability remains exposed to ramp-up costs at newer properties.