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Praveg Limited receives Letter of Award for Development of Resort at Dhordo, Kutch, Gujarat

Posted On : 2025-11-18 15:20:10( TIMEZONE : IST )

Praveg Limited, India's leading eco-responsible luxury resorts company, announced that it has received the Letter of Award (LoA) on November 18, 2025, for the development, operation and management of a new resort project at Dhordo, Kutch, Gujarat.

The project entails the development of 46 rooms/keys (luxury tents) and 42 dormitories (total capacity of 252 beds), equivalent to 126 standard rooms, thereby further strengthening the Company's hospitality footprint in Dhordo. This award is in addition to the existing 30 Bhungas currently operated by Praveg Limited at the location under a 5-year agreement.

The project has been granted a concession period of 35 (thirty-five) years, providing significant long-term visibility for business growth and value creation. The Company anticipates robust performance from the upcoming resort, with Expected Average Room Rate (ARR) ranging between INR 12,000 and INR 15,000 per night for Rooms and INR 2,500 to INR 3,500 per bed for Dormitories, supported by an expected occupancy rate of 55% to 60%, driven by rising tourist demand and strong seasonal inflows during the Rann Utsav.

This development is expected to deliver substantial strategic and economic advantages, including strengthening Praveg's presence at a globally recognized tourism destination, significantly augmenting accommodation capacity for domestic and international travelers, and generating long-term financial value through an asset-light concession model. The project is also likely to stimulate socio-economic growth by creating employment opportunities and supporting regional tourism infrastructure, while upholding Praveg's commitment to environmentally conscious development and low-impact hospitality solutions.

Speaking on the occasion, Dr. CA Vishnu Patel, Chairman of Praveg Limited, said, "We are delighted to receive the Letter of Award for development and operations at Dhordo, a destination of global tourism significance. This award reinforces our expansion strategy and strengthens our presence in Kutch. We are confident that the project will create an exceptional hospitality experience, support regional tourism and generate long-term value for all stakeholders."

The addition of this resort marks a significant milestone in Praveg's continued growth in the ecoresponsible hospitality sector and is expected to further enhance the Company's portfolio of premium luxury properties across India. This development reflects Praveg's mission to deliver unique, sustainable and culturally rooted travel experiences while contributing to the preservation and economic advancement of high-potential tourism destinations.

Shares of Praveg Ltd was last trading in BSE at Rs. 310.40 as compared to the previous close of Rs. 319.20. The total number of shares traded during the day was 48709 in over 1152 trades.

The stock hit an intraday high of Rs. 319.70 and intraday low of 310.00. The net turnover during the day was Rs. 15231943.00.