Praveg Limited on December 29 informed exchanges that it has executed a strategic inventory agreement with Mahindra Holidays & Resorts India Limited for its upcoming premium island project Praveg Atoll, Lakshadweep – Thinnakkara, which is expected to become operational shortly .
Under the agreement, Mahindra Holidays & Resorts India Limited has secured an inventory of 25 rooms on a floating basis for a period of three years at the Lakshadweep property. The company disclosed the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 .
Praveg stated that the collaboration marks a significant step in its expansion into India’s exclusive island tourism segment, combining its eco-responsible luxury hospitality expertise with Mahindra Holidays’ established brand presence and holiday member base .
Commenting on the development, Praveg Limited Chairman Dr. Vishnu Patel said the agreement reflects the company’s commitment to sustainable luxury hospitality in environmentally sensitive destinations such as Lakshadweep. He added that the partnership is expected to enhance guest experience and create long-term value for both organisations as the property becomes operational .
Praveg Limited will operate and manage the property, ensuring compliance with service, sustainability, and regulatory standards applicable to the Lakshadweep archipelago. The detailed commercial and operational terms are governed by the executed inventory agreement between the two parties .
Mahindra Holidays & Resorts India Limited, part of the Mahindra Group, operates under the Club Mahindra brand and has a presence across multiple destinations in India and abroad, while Praveg focuses on eco-responsible luxury hospitality and non-permanent premium resort structures .
