Praveg Limited announced impressive Q4 FY2024 results, with revenue increasing by 30.80% year-over-year to 425.00 million rupees. EBITDA rose by 27.10% to 108.00 million rupees, while net profit doubled to 30.00 million rupees. The company declared a dividend of 1 rupee per share. Despite strong growth, EBITDA margin slightly decreased to 25.41%. Quarter-on-quarter net profit declined from 76.00 million rupees in the previous quarter to 30.00 million rupees in Q4.
19May 25
Praveg Limited Expands Hospitality Portfolio with New Resort in Daman
Praveg Limited has launched Praveg Resort Kachigam, a high-end accommodation in Daman, expanding its hospitality portfolio. The resort is positioned as a premier island retreat, capitalizing on the growing demand for upscale leisure destinations in coastal areas. This strategic move aims to diversify the company's offerings and tap into new customer segments in the tourism market.
Praveg Limited has approved a merger with Eulogia Inn Private Limited and plans to list on the National Stock Exchange of India. The share exchange ratio is set at 1,000 Praveg shares for every 6,683 Eulogia Inn shares. The merger aims to strengthen Praveg's presence in the hospitality sector, offering complementary business lines and operational synergies. Post-merger, promoter shareholding will increase to 50.23% from 45.50%. The deal is subject to regulatory and shareholder approvals.