Praveg bags LoA from Gujarat tourism for new resort project in Kutch

Praveg has received a letter of award (LoA) from Tourism Corporation of Gujarat (TCGL) for the development, operation and management of a new resort project at Dhordo in Kutch.

According to the companys disclosure, the project entails the expansion of hospitality infrastructure, including 46 luxury tent rooms/keys and 42 dormitories with a total capacity of 252 beds, aimed at boosting accommodation availability at the popular destination.

The contract, awarded by a domestic entity, carries a 35-year execution period, providing significant long-term visibility. The broad size or commercial consideration of the order is not determinable at this stage, the company said.

Praveg confirmed that no promoter or promoter-group interest exists in the awarding authority and the contract does not qualify as a related-party transaction.

The company anticipates robust performance from the upcoming resort, with Expected Average Room Rate (ARR) ranging between Rs 12,000 and Rs 15,000 per night for rooms and Rs 2,500 to Rs 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.

Dr. CA Vishnu Patel, chairman of Praveg, 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.

Praveg is a pioneer in eco-responsible luxury hospitality. The company is principally engaged in business of providing services of advertising, hospitality, management and organization of events and exhibitions.

The company reported consolidated net loss of Rs 9.67 crore in Q2 FY26 compared with net profit of Rs 1.42 crore in Q2 FY25. Revenue from operations jumped 19.3% YoY to Rs 37.50 crore in Q2 FY26.

Shares of Praveg shed 0.64% to Rs 308.40 on the BSE.

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