Praveg Resort at Damanganga Circuit House, Silvassa, Commences its Operations

Praveg Limited, India's premier eco‐responsible luxury resorts company, is delighted to announce the opening of Praveg Resort at Damanganga, Silvassa. This marks a pivotal achievement in our vision to deliver unmatched luxury and hospitality experiences.

Dr. Vishnu Patel, Chairman of Praveg Limited, expressed his excitement at the inauguration: "We are thrilled to announce the opening of Praveg Resort at Damanganga, Silvassa, from December 9, 2024. With its superb location, eco‐conscious design, and blend of youthful and experienced team members, this resort is uniquely positioned to offer an unparalleled service to the guests."

Silvassa is a scenic town in western India, is renowned for its lush greenery, tribal culture, and historical significance. Silvassa has a rich history influenced by Portuguese and Maratha rule, which is reflected in its architecture and culture. Key attractions include the Vanganga Lake Garden, Deer Park, Dudhani lake and the Tribal Cultural Museum, which showcase the town's natural beauty and cultural heritage. Praveg Beach Resort, Damanganga is located in Silvassa, the capital of the Union Territory of Dadra and Nagar Haveli and Daman and Diu. Situated near the Damanganga River, the property offers comfortable accommodations with essential amenities. The property features well‐maintained 42 room, a conference hall, a restaurant, and picturesque views of the surrounding greenery and the river. The property is known for its peaceful atmosphere, making it a favored stay for visitors seeking tranquility. The property is also good for budget friendly destination wedding.

We anticipate an average occupancy rate of approximately 40% to 45% over the next year. FY25 has been a year marked by robust expansion, and we look forward to reaping the benefits of our growth initiatives. Our commitment to increasing our portfolio with more eco‐friendly luxury resorts across India is stronger than ever.

The introduction of this resort significantly enhances Praveg Limited's presence in the eco‐luxury hospitality market, expanding our operational portfolio to 13 properties, with several ambitious projects currently in development. This expansion not only enhances our brand but also sets new benchmarks in luxury hospitality, promising an exciting future for our company and its stakeholders.

Shares of Praveg Ltd was last trading in BSE at Rs. 705.95 as compared to the previous close of Rs. 694.45. The total number of shares traded during the day was 43514 in over 1020 trades.

The stock hit an intraday high of Rs. 724.90 and intraday low of 694.45. The net turnover during the day was Rs. 31012501.00.

Source : Equity Bulls

Keywords

Praveg INE722B01019 DamangangaCircuitHouse PravegResort Silvassa