Praveg gains after bagging order in Diu

Praveg rose 1.53% to Rs 425.50 after the company secured a work order for development, operation, maintenance and management of Tent City at Ghoghla Beach in Diu.

The company secured the order from Department of Tourism, U.T. Administration of Dadra & Nagar Haveli and Daman & Diu.

As per the order, the company will build minimum 35 tents with one restaurant and one conference room. The work is to be executed in 3 years, which may be further extendable up to 2 years.

Praveg is a service company with a diversified portfolio, including exhibition management, event management, tourism & hospitality and publication. In the tourism genre, the company has been actively promoting state and Indian tourism by offering creative solutions across varied media on a turnkey basis since its inception. The company operates and manages 'White Rann Resort' in Rann Utsav, Kutch, followed by 'Tent City Narmada', Statue of Unity.

On a consolidated basis, net profit of Praveg rose 110.95% to Rs 11.56 crore while net sales rose 79.39% to Rs 28.38 crore in Q3 December 2022 over Q3 December 2021.

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