Praveg Limited has officially received the Letter of Award (LoA) on February 25, 2026, from the Government of Meghalaya Directorate of Tourism for a prestigious luxury cottage resort development project. The company announced this significant milestone through a regulatory filing under SEBI Regulation 30.

Project Award Details

The comprehensive development project has been awarded under the Design, Build, Finance, Operate and Transfer (DBFOT) mode on a Public-Private Partnership basis. The project specifications demonstrate the substantial scope of this tourism infrastructure development:

Regulatory Compliance and Disclosure

Praveg Limited has fulfilled its regulatory obligations by informing BSE Limited about the contract award through proper disclosure channels. The company's filing indicates that the broad consideration or size of the contract is "not determinable at this stage," suggesting the revenue model may be based on operational performance over the concession period.

Strategic Significance and Management Commentary

Dr. CA Vishnu Patel, Chairman and Managing Director of Praveg Limited, expressed satisfaction with the project award, stating that it aligns with the company's strategy to expand eco-responsible luxury hospitality offerings across emerging destinations. He emphasized that the development will contribute to tourism growth, employment generation, and regional economic development while creating long-term value for stakeholders.

Business Impact and Growth Strategy

This project reinforces Praveg's asset-light concession-driven growth model and expands its portfolio of sustainable luxury hospitality assets across India. The 30-year concession period provides substantial operational tenure, allowing for long-term planning and investment recovery while supporting Meghalaya's tourism infrastructure development goals.

Praveg Limited has informed the stock exchanges about the termination of its inventory arrangement with Mahindra Holidays and Resorts India Limited (MHRIL) for one of its resort properties in Daman. The announcement, made on February 24, 2026, marks a strategic adjustment in the company's partnership arrangements while maintaining broader collaboration with the hospitality major.

Termination Details

The company has decided to terminate the inventory arrangement specifically for Praveg Beach Resort Lighthouse in Daman, with the termination becoming effective from June 7, 2026. This decision follows the terms and conditions stipulated in the original agreement between the two parties.

Continued Partnership

Despite the termination for the Daman property, Praveg Limited has clarified that the inventory arrangement with MHRIL will continue to remain in force for all other properties of the company. This selective termination indicates a focused approach to property management while preserving the broader strategic partnership.

Business Impact Assessment

The company has emphasized that the exit from the inventory arrangement for the Daman property has been effected mutually in the ordinary course of business. Praveg Limited will continue to operate and manage the said property independently following the termination of the arrangement.

Management has assured stakeholders that this termination does not have any material adverse impact on the company's operations, financial position, or business prospects. The decision appears to be part of routine business optimization rather than any strategic shift away from partnership arrangements.

Background Context

This development follows an earlier intimation dated December 20, 2024, when Praveg Limited had announced entering into inventory arrangements with Mahindra Holidays and Resorts India Limited for certain properties. The current announcement represents a refinement of that broader arrangement, focusing the partnership on specific properties while allowing independent operation of others.