Praveg Ltd Receives 35-Year Resort Development Contract in Gujarat
Filing Summary
Praveg Ltd has secured a 35-year concession for developing a resort in Dhordo, Kutch, Gujarat, as per a Letter of Award from the Tourism Corporation of Gujarat Limited. The project includes 46 luxury tents and 42 dormitories, expanding Praveg’s hospitality operations. The development will add 252 beds, equivalent to 126 standard rooms, to Praveg’s existing 30 Bhungas at the location. The financial terms remain undisclosed. This project aligns with Praveg’s strategy to enhance its presence in key tourism destinations, leveraging its eco-responsible luxury hospitality model.
Praveg Ltd has announced the receipt of a Letter of Award (LoA) from the Tourism Corporation of Gujarat Limited for the development, operation, and management of a resort at Dhordo, Kutch, Gujarat. The project involves the construction of 46 rooms/keys in the form of luxury tents and 42 dormitories, totaling a capacity of 252 beds. This expansion is in addition to the existing 30 Bhungas operated by Praveg at the location under a five-year agreement. The concession period for this project is 35 years.
The financial terms of the contract have not been disclosed in the filing. The project is structured under a long-term concession model, providing Praveg with extended operational visibility. The company has not specified the exact financial consideration or payment structure associated with this development. The filing does not include any details on the expected revenue or cost implications of the project.
The scope of the project includes the development of hospitality infrastructure to enhance accommodation capacity at a major tourism destination. The project will add 46 luxury tents and 42 dormitories, equivalent to 126 standard rooms. This development aims to accommodate both domestic and international tourists visiting the region. The project will be managed under Praveg’s eco-responsible hospitality model, focusing on sustainable and low-impact tourism solutions.
The filing indicates that the project is part of Praveg’s strategy to expand its hospitality footprint in key tourism destinations. The development at Dhordo is expected to leverage the location’s significance as a tourism hub, particularly during the Rann Utsav, a major cultural event in the region. The project aligns with Praveg’s business model of offering luxury accommodations in culturally and environmentally significant areas.
The timeline for the project’s execution is set for 35 years, as per the concession agreement. The filing does not specify the start date for construction or the expected completion date. The project is awarded by the Tourism Corporation of Gujarat Limited, a domestic entity, and does not involve any related party transactions or interests from Praveg’s promoter group.
Tourism Corporation of Gujarat Limited is a state-owned entity responsible for promoting tourism in Gujarat. The corporation focuses on developing tourism infrastructure and enhancing the state’s appeal as a travel destination. This partnership with Praveg Ltd is part of its efforts to boost tourism in the Kutch region.
Praveg Ltd specializes in eco-responsible luxury hospitality, offering premium accommodations in culturally and environmentally significant locations. The company focuses on sustainable tourism solutions, ensuring minimal environmental impact while providing high-quality hospitality experiences. Praveg continues to expand its portfolio in key tourism destinations across India.