Praveg gains after bagging order in Diu

Praveg rose 1.53% to Rs 425.50 after the company secured a work order for development, operation, maintenance and management of Tent City at Ghoghla Beach in Diu.

As per the order, the company will build minimum 35 tents with one restaurant and one conference room. The work is to be executed in 3 years, which may be further extendable up to 2 years.

Praveg is a service company with a diversified portfolio, including exhibition management, event management, tourism & hospitality and publication. In the tourism genre, the company has been actively promoting state and Indian tourism by offering creative solutions across varied media on a turnkey basis since its inception. The company operates and manages 'White Rann Resort' in Rann Utsav, Kutch, followed by 'Tent City Narmada', Statue of Unity.

On a consolidated basis, net profit of Praveg rose 110.95% to Rs 11.56 crore while net sales rose 79.39% to Rs 28.38 crore in Q3 December 2022 over Q3 December 2021.

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