Praveg Limited Secures 35-Year Contract for Luxury Resort Development in Kutch

Praveg Limited , a leading player in the eco-responsible luxury hospitality sector, has announced a significant expansion of its presence in Gujarat's tourism landscape. The company has been awarded a Letter of Award (LoA) from the Tourism Corporation of Gujarat Limited for the development of a premium resort at Dhordo, Kutch.

Project Details

The new development will feature:

46 luxury tent rooms
42 dormitories with a total capacity of 252 beds
Equivalent to 126 standard rooms

This project comes with a substantial 35-year concession period, providing Praveg with a long-term opportunity to strengthen its foothold in the region.

Strategic Significance

This award marks a notable expansion for Praveg Limited at Dhordo, complementing their existing operations of 30 Bhungas (traditional Kutchi houses) at the location. The company anticipates strong performance from the new resort:

Metric	Expected Range
Average Room Rate (ARR)	₹12,000 - ₹15,000 per night
Dormitory Bed Rate	₹2,500 - ₹3,500 per bed
Occupancy Rate	55% - 60%

The projected occupancy rates are driven by increasing tourist demand and robust seasonal inflows, particularly during the Rann Utsav.

Market Impact

This development is expected to yield significant strategic and economic benefits for Praveg Limited:

Strengthened presence in a globally recognized tourism destination
Substantial increase in accommodation capacity for both domestic and international travelers
Long-term financial value generation through an asset-light concession model

Moreover, the project aligns with Praveg's commitment to environmentally conscious development and low-impact hospitality solutions.

Management Commentary

Dr. CA Vishnu Patel, Chairman of Praveg Limited, expressed enthusiasm about the award, stating, "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."

Conclusion

This new resort development represents a significant milestone in Praveg's ongoing growth strategy in the eco-responsible hospitality sector. It not only expands the company's portfolio of premium luxury properties across India but also demonstrates its commitment to delivering unique, sustainable, and culturally rooted travel experiences while contributing to the preservation and economic advancement of high-potential tourism destinations.

Investors and industry observers will likely watch closely how this project unfolds and its impact on Praveg Limited's financial performance in the coming years.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.42%	-2.53%	-9.10%	-37.72%	-55.04%	+583.80%

Praveg Limited has announced the cancellation of 856,976 convertible warrants following the failure of two warrant holders to exercise their conversion rights within the stipulated period. This corporate action, detailed in a regulatory filing, marks a significant development for the company's capital structure.

Warrant Cancellation Details

The company has provided specific information about the cancelled warrants:

Particulars	Details
Total Warrants Cancelled	856,976
Warrant Holders Affected	Ms. Rekha Rajesh Patel (560,000 warrants) Ms. Vibhuti Jayesh Patel (296,976 warrants)
Original Warrant Price	Rs. 955.00 per warrant
Warrant Subscription Price	Rs. 238.75
Warrant Exercise Price	Rs. 716.25
Conversion Deadline	November 16, 2025

Reasons for Cancellation

According to the company's filing, the warrants were cancelled due to the failure of the warrant holders to exercise their conversion option within the 18-month period from the date of allotment. This period ended on November 16, 2025.

Financial Implications

As a result of the non-exercise, Praveg Limited has forfeited the warrant subscription amounts paid by the holders. This action is in accordance with Regulation 169(3) of Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Regulatory Compliance

The company has informed the BSE Limited about this development, ensuring compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was made on November 17, 2025, immediately following the expiration of the conversion period.

This cancellation of convertible warrants may have implications for Praveg Limited's capital structure and potentially its future fundraising strategies. Investors and market participants are advised to take note of this corporate action when evaluating their positions or considering investments related to Praveg Limited.