Shares of Praveg Limited surged over 5% on December 9, trading at ₹766, as the company announced the opening of its latest eco-responsible luxury resort at Damanganga, Silvassa.
Highlights of the New Resort:
- Launch Date: December 9, 2024
- Features:
- 42 well-appointed rooms
- A conference hall and restaurant
- Scenic views of the Damanganga River
- Eco-conscious design for sustainable hospitality
- Location: Silvassa, renowned for attractions such as Vanganga Lake Garden, Deer Park, and Dudhani Lake.
Management’s Statement:
Vishnu Patel, Chairman of Praveg Limited, stated, “This resort, with its superb location and eco-conscious design, is uniquely positioned to offer an unparalleled service to guests.”
Expansion Plans:
With 13 properties under its eco-luxury portfolio, Praveg Limited continues to expand in new markets, setting benchmarks in sustainable hospitality. The resort is projected to achieve an occupancy rate of 40-45% in its first year, contributing to the company’s growth.
This development strengthens Praveg’s vision of delivering premium, sustainable hospitality experiences across India.
