Praveg Limited, India's leading eco-responsible luxury resorts company, is thrilled to announce the launch of its luxury resort operations on Bangaram Island, Lakshadweep, starting January 18, 2025. Known for its untouched natural beauty, Bangaram Island offers a serene and exclusive getaway, where guests can indulge in the island's tranquility while enjoying modern luxury amenities.
Lakshadweep has witnessed an unprecedented surge in tourism, with the number of visitors doubling over the past year. This remarkable growth highlights the increasing appeal of the islands as a must-visit destination for both domestic and international travelers. Praveg Limited's expansion into Bangaram Island aligns perfectly with this upward trend, catering to the rising demand for luxury and eco-conscious accommodations in this paradise.
Dr. Vishnukumar Patel, Chairman of Praveg Limited, expressed his enthusiasm, stating, "We are thrilled to officially launch Praveg Resorts at Bangaram Island, a destination that promises to provide an extraordinary experience to every guest. Our vision for this resort is to offer not just a place to stay, but a sanctuary where guests can immerse themselves in nature, adventure, and relaxation. From luxury accommodations to world-class activities, we are confident that this resort will become a sought-after destination for travelers seeking both tranquility and adventure in one of India's most pristine locations."
Praveg Resorts continues to redefine luxury travel across India's iconic destinations, from the White Rann and Statue of Unity to the beaches of Diu and Daman. Each location offers unique, immersive experiences reflecting the destination's essence. Recently launched, Praveg Caves at Jawai combines nature, adventure, and luxury in Rajasthan's leopard territory. Praveg Atoll's Lakshadweep retreat at Bangaram Island adds serene beaches and unmatched tranquility to the brand's growing portfolio.
The resort is poised to achieve an impressive occupancy rate of 50-60%, reflecting the high demand for sustainable luxury accommodations. The average room rate should be in the range of INR 20,000 to 25,000. Praveg's expansion represents a strategic milestone for the company, with promising prospects for revenue growth, profitability, and shareholder value creation.
Shares of Praveg Communications (India) Ltd was last trading in BSE at Rs. 719.45 as compared to the previous close of Rs. 678.30. The total number of shares traded during the day was 89546 in over 7352 trades.
The stock hit an intraday high of Rs. 726.80 and intraday low of 677.20. The net turnover during the day was Rs. 63467750.00. |
