Praveg announces opening of Praveg Tent City, Saryu, Ayodhya

Praveg Limited, India's premier eco-responsible luxury resorts company, proudly declares the inauguration of Praveg Tent City, Saryu, Ayodhya, marking a significant milestone in our commitment to offering unparalleled luxury and hospitality.

Speaking on the occasion, Mr. Vishnu Patel, Chairman - Praveg Limited said, "I am thrilled to announce the commencement of Praveg Tent City, Saryu, Ayodhya. I hold firm confidence that our property, distinguished by its exceptional location, eco-responsible design aesthetics, and a dedicated team of young and experienced professionals, is poised to provide a unique and distinctive service to guests hailing from every corner of the globe.

Praveg Tent City, nestled near the tranquil bank of river Saryu in Ayodhya, offers a blissful retreat with 39 well-appointed tents, each promising a harmonious blend of comfort and nature's embrace. Embracing the rich cultural heritage of Ayodhya, the tent city beckons travelers with a myriad of amenities designed to elevate every aspect of their stay.

Saryu, a sacred water body in Ayodhya, holds profound significance in Hindu mythology, believed to be the spot where Lord Rama took his final bath before ascending to heaven. The picturesque surroundings of river Saryu exude an aura of tranquility and spirituality, drawing pilgrims and tourists alike to its banks.

Anticipating the growing significance of spiritual tourism in India, we are optimistic about Praveg Tent City, Saryu, Ayodhya, witnessing substantial footfalls. With the opening of this property, we project an average occupancy rate of 60-70% in the coming year and the Average ARR would be INR 10000 to 12000. Our unwavering commitment to expanding our portfolio with more eco-responsible luxury resorts across India remains steadfast.

With this addition, a total of 10 (Ten) resorts are operational and 12 (Twelve) resorts are under development.

Shares of Praveg Communications (India) Ltd was last trading in BSE at Rs. 880.85 as compared to the previous close of Rs. 903.90. The total number of shares traded during the day was 72918 in over 3894 trades.

The stock hit an intraday high of Rs. 904.95 and intraday low of 879.00. The net turnover during the day was Rs. 64856369.00.

Source : Equity Bulls

Keywords

Praveg INE722B01019 TentCity Saryu Ayodhya