Stock Report

Praveg receives work order for developing Tent City in Ayodhya, UP

Posted On : 2023-08-09 13:27:01( TIMEZONE : IST )

Praveg Limited, India's leading eco-responsible luxury resorts company, announced receiving the work order for developing, maintaining and managing the Tent City at Ayodhya, Uttar Pradesh. The work order is for a period of ten years that maybe extended up to another five years.

Speaking on the occasion, Mr. Vishnu Patel, Chairman - Praveg Limited said, "We are delighted to receive the work order for developing, maintaining and managing Praveg's Tent City at Ayodhya, Uttar Pradesh. We are thankful to Ayodhya Development Authority for reposing their faith on us. Once the project is operational, our guests will experience Praveg's worldclass amenities and facilitiesin the midst of spiritual splendor."

Situated along Bramha Kund at Ayodhya, Uttar Pradesh, Praveg's ultra luxury tent city will have 50 tents with one restaurant. When the construction and development work of Ram Mandir gets completed in 2024, Ayodhya will witness 10 to 15 percent increase in tourism that will directly benefit Praveg's tent city at Ayodhya. There is already a rush among travel agents and devotees to book rooms in advance for consecration ceremony of Lord Rama's idol at Ram Janmabhoomi.

Earlier, Praveg collaborated with the Varanasi Development Authority (VDA) to create the exquisite Tent City at Varanasi. Nestled gracefully along the banks of the holy River Ganga, this river-facing resort boasts 140 luxurious tents, offering top-notch amenities including VIP Darshan at the Kashi Vishwanath Temple and Ganga Aarti.Since its inception, the resort has already welcomed more than 10,000 visitors.

With the addition of this resort, Praveg will now have 6 properties in operation and 9 under development. Company aims to further add more eco-responsible luxury resorts across India.

Shares of Praveg Ltd was last trading in BSE at Rs. 510.50 as compared to the previous close of Rs. 508.95. The total number of shares traded during the day was 32544 in over 508 trades.

The stock hit an intraday high of Rs. 518.00 and intraday low of 503.00. The net turnover during the day was Rs. 16638139.00.