Stock Report

Praveg receives Work order for Developing Cottages in Damanganga Garden Kachigam, Daman

Posted On : 2023-10-11 22:27:46( TIMEZONE : IST )

Praveg Limited, India's leading eco-responsible luxury resorts company, announced receiving the work order for developing and managing the resorts at Damanganga Garden Kachigam, Daman. The work order is for a period of seven (7) years that could be extended up to another three (3) years.

Speaking on the occasion, Mr. Vishnu Patel, Chairman - Praveg Limited said, "We are delighted to receive the work order for developing and managing Praveg's Damanganga Kachigam resort at Daman. We are thankful to Diu Tourism department for reposing their faith on us. Earlier we won Lighthouse beach resort and Jampore resort that are currently operational and running at its optimum capacity. Once Damanganga Garden Kachigam project is operational, our guests will experience Praveg's worldclass ecoresponsible hospitality."

Spread across 89,500 sq meters, the Damanganga Garden Kachigam project will have 30 eco friendly luxury resorts with a club house, two banquet halls, spa, swimming pool, restaurant, exotic garden, fitness centre and other facilities.

In Daman, Praveg is operating two resorts with total capacity of 68 rooms. With the addition of Damanganga project, the total capacity will increase to 98 rooms. All our resorts in Daman are running at its optimum occupancy. We have received over 3000 footfalls till date and with the start of festive session, we are expecting high demand for our rooms from tourists.

With the addition of this resort, Praveg will now have 6 properties in operation and 11 under development. Company aims to further add more eco-responsible luxury resorts across India.

Shares of Praveg Communications (India) Ltd was last trading in BSE at Rs. 543.35 as compared to the previous close of Rs. 553.55. The total number of shares traded during the day was 31878 in over 755 trades.

The stock hit an intraday high of Rs. 561.95 and intraday low of 538.00. The net turnover during the day was Rs. 17395416.00.