Praveg Limited has announced the execution of a strategic inventory agreement with Mahindra Holidays & Resorts India Limited (MHRIL) for its upcoming premium island hospitality project, Praveg Atoll, Lakshadweep - Thinnakkara. The agreement represents a significant step in Praveg's expansion into India's exclusive island tourism segment, with the property expected to be operational shortly.

Agreement Details

The strategic partnership encompasses key commercial and operational parameters designed to enhance both companies' market presence in the luxury hospitality sector.

Strategic Rationale and Benefits

The collaboration combines Praveg's expertise in eco-responsible luxury hospitality with MHRIL's strong brand presence and extensive holiday member base. The partnership aims to offer curated, high-quality island experiences in one of India's most pristine destinations.

For Praveg Limited, the agreement strengthens market positioning through association with a reputed hospitality brand, improves demand visibility for the upcoming property, and reinforces its footprint in premium island hospitality. The partnership is expected to enhance occupancy rates and provide revenue visibility through MHRIL's established customer base.

For MHRIL, the partnership enables portfolio expansion into Lakshadweep, offering its members access to a distinctive island destination operated by a specialist in eco-responsible luxury hospitality.

Operational Framework

Upon commencement of operations, Praveg Limited will operate and manage the property, ensuring adherence to high standards of service, guest comfort, sustainability, and regulatory compliance applicable to the Lakshadweep archipelago. The detailed commercial and operational terms are governed by the inventory agreement executed between the parties.

Leadership Perspective

Dr. Vishnu Patel, Chairman of Praveg Limited, emphasized the significance of this partnership: "Lakshadweep is among India's most exclusive and environmentally sensitive tourism destinations. The inventory agreement with Mahindra Holidays & Resorts India Limited for our upcoming Praveg Atoll - Thinnakkara reflects our commitment to sustainable luxury hospitality. As the property becomes operational shortly, we are confident that this partnership will enhance guest experiences and create long-term value for both organizations."

Company Background

Praveg Limited specializes in eco-responsible luxury hospitality, with resorts located in areas of cultural and heritage significance and places of exotic natural beauty. The company's luxury resorts provide access to locations where traditional construction is not possible, allowing tourism to flourish while preserving delicate local ecosystems.

Mahindra Holidays & Resorts India Limited (MHRIL), part of the Mahindra Group, operates under the flagship brand "Club Mahindra" and offers world-class resorts at exotic destinations across India and abroad, focusing on creating memorable family holiday experiences.

Praveg Limited has officially inaugurated its highly anticipated Praveg Adalaj Theme Park and Heritage Stepwell Museum on December 22, 2025. The landmark destination was formally inaugurated by Shri Bhupendrabhai Patel, Honourable Chief Minister of Gujarat, marking a significant milestone in Gujarat's tourism and cultural infrastructure development.

Distinguished Inauguration Ceremony

The inauguration ceremony was graced by prominent dignitaries, underscoring the project's national and state-level importance:

Public-Private Partnership Model

The Praveg Adalaj Theme Park has been developed through a Public-Private Partnership (PPP) arrangement with Tourism Corporation of Gujarat Limited (TCGL). Developed and operated by Praveg Adalaj Tourism Infrastructure Private Limited, a wholly owned subsidiary of Praveg Limited, the project operates under a 30-year lease agreement, reinforcing Praveg's long-term commitment to creating sustainable, world-class tourism and event destinations.

Strategic Location and Cultural Heritage

Strategically situated on the Ahmedabad-Gandhinagar Highway, the theme park is positioned 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 to create a multi-dimensional cultural landmark.

World-Class Facilities and Infrastructure

Dr. Vishnukumar Patel, Chairman of Praveg Limited, expressed his vision for the project: "The inauguration of Praveg Adalaj Theme Park and Heritage Stepwell Museum represents our vision of integrating Gujarat's timeless heritage with contemporary infrastructure. It is not merely an event venue, but a cultural destination that narrates history, promotes tourism, and creates immersive experiences."

The theme park boasts comprehensive facilities designed for diverse events:

Exclusive Event Venues

The park features two distinctive venues catering to different event requirements:

Jal Tarang: An open-air amphitheatre set against the timeless backdrop of the Adalaj Stepwell, designed to host government and corporate conferences, product launches, leadership seminars, award ceremonies, and brand activations.

The Vaav: Inspired by the Adalaj Stepwell, this versatile space offers a distinctive setting for photo shoots, cultural and musical performances, exhibitions, panel discussions, and large-scale corporate events.

Heritage Stepwell Museum

The Heritage Stepwell Museum serves as a key highlight of the destination, offering visitors an immersive journey through Gujarat's architectural brilliance, folk traditions, craftsmanship, and cultural evolution. Drawing inspiration from the world-renowned Adalaj Stepwell, the museum blends storytelling, spatial design, and curated exhibits to create a living heritage experience.

Versatile Event Portfolio

Praveg Adalaj Theme Park is designed to accommodate a comprehensive range of events, including Sufi nights, folk music concerts, art exhibitions, business networking sessions, social gatherings, birthdays, and government events. The destination aligns with the Government of India's and Government of Gujarat's broader vision of promoting heritage tourism, experiential travel, and sustainable infrastructure development.