The Company has received a Letter of Award (LoA) dated November 18, 2025, from the Tourism Corporation of Gujarat Limited for the development of a resort at Dhordo, Kutch, Gujarat. The ....
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Praveg Limited has received a Letter of Award from Tourism Corporation of Gujarat Limited (a government entity) to develop, operate, and manage a new resort at Dhordo, Kutch, Gujarat. The project involves 46 luxury tent rooms and 42 dormitories with a total capacity of 252 beds (equivalent to 126 standard rooms), on a 35-year concession period under an asset-light model. The company expects Average Room Rates of INR 12,000–15,000 per night for rooms and INR 2,500–3,500 per bed for dormitories, with occupancy projected at 55–60%, driven by tourism demand during Rann Utsav. This award is in addition to the 30 Bhungas Praveg already operates at the same location under a 5-year agreement. The financial size of the contract has not been disclosed at this stage.
This long-term government concession strengthens Praveg's hospitality presence at a globally recognised tourist destination, providing 35 years of revenue visibility on a capital-light model. Positive for growth prospects, though the lack of disclosed contract value limits immediate financial impact assessment.