Praveg Limited has officially launched its highly anticipated Praveg Adalaj Theme Park, marking a significant milestone in Gujarat's event infrastructure landscape. The park is set to become a landmark destination for premium events in the region.

Public-Private Partnership

The Praveg Adalaj Theme Park has been developed through a Public-Private Partnership (PPP) arrangement with Tourism Corporation of Gujarat Limited (TCGL). This collaboration underscores a long-term commitment to enhancing the state's event hosting capabilities, with the park operating under a 30-year lease agreement.

Strategic Location and Cultural Significance

Strategically situated on the Ahmedabad-Gandhinagar Highway, the theme park is poised to capitalize on the twin cities' growing reputation as India's emerging event and convention hub. The venue draws inspiration from the iconic Adalaj Stepwell, seamlessly blending Gujarat's rich heritage with modern infrastructure.

World-Class Facilities

Dr. Vishnukumar Patel, Chairman of Praveg Limited, expressed confidence in the project, stating, "Praveg Adalaj Theme Park is a landmark project that celebrates Gujarat's rich heritage while offering world-class event infrastructure. Located in the heart of Ahmedabad and Gandhinagar, the emerging hub for marquee events, the project will provide unmatched experiences to our guests."

The theme park boasts an impressive array of facilities designed to cater to a wide range of events:

• Museum of Heritage & Culture: A curated space showcasing Gujarat's art, history, and traditions.
• Expansive Venue: Spanning 23,000 square meters, including a 4,500 square meter open garden, 1,924 square meter dining space, and 2,545 square meter ceremony area.
• Amphitheatre: A state-of-the-art 1,350 square meter amphitheatre with green room facilities.
• Ample Parking: A 5,000 square meter parking area for guest convenience.
• Additional Amenities: Open-to-sky lounge, luxury green rooms, scenic selfie points, and fine dining experiences.

Unique Event Spaces

The park features two exclusive venues:

1. Jal Tarang: An open-air amphitheatre set against the backdrop of the Adalaj Stepwell, ideal for conferences, product launches, and corporate events.
2. The Vaav: Inspired by the Adalaj Stepwell, this versatile space is suitable for photo shoots, cultural performances, exhibitions, and large-scale events.

Versatile Event Offerings

Praveg Adalaj Theme Park is designed to host a diverse range of events, including:

• Sufi nights and folk music concerts
• Art exhibitions
• Business networking sessions
• Social gatherings and birthdays
• Government events

With its blend of cultural heritage and modern amenities, Praveg Adalaj Theme Park is set to redefine the premium event landscape in Gujarat, offering a unique venue for both corporate and social occasions.

Praveg Communications (India) Limited has announced robust financial results for the second quarter of the fiscal year 2021-22, showcasing significant growth across key metrics.

Strong Revenue Growth

The company reported a substantial increase in its consolidated revenue from operations, reaching Rs. 891.34 lakhs for the quarter ended September 30, 2021. This marks a remarkable 161% growth compared to Rs. 341.45 lakhs recorded in the same quarter of the previous year.

Profit Soars

Praveg Communications' profit for the quarter saw an impressive jump, rising to Rs. 169.34 lakhs from Rs. 46.33 lakhs year-over-year, representing a 265% increase.

Half-Year Performance

For the half-year period, the company's total revenue reached Rs. 1,254.52 lakhs, a significant improvement from Rs. 537.45 lakhs in the corresponding period of the previous year, indicating a 133% growth.

Financial Highlights

Operational Update

The company acknowledged that while its operations were impacted by COVID-19, there was no further significant impact during the reported quarter and half-year period. This suggests a recovery in business activities and adaptation to the post-pandemic environment.

Unbilled Services

Notably, the revenue from operations includes unbilled sale of services worth Rs. 113.10 lakhs, indicating potential future revenue recognition.

Praveg Communications' strong performance in Q2 FY22 demonstrates the company's resilience and ability to capitalize on market opportunities despite the challenging business environment. The substantial growth in both revenue and profit underscores the effectiveness of the company's business strategies and operational efficiency.