Introduction:
Leading hotel services provider has partnered with Indian Hotels Company Limited (IHCL) to manage a luxury resort on Bangaram Island, Lakshadweep. The collaboration aims to enhance guest experiences, promote sustainable tourism, and elevate the property under a prestigious luxury brand.
Share price movement of Praveg:
On March 3, 2025, Praveg Ltd opened at ₹491.00, up 0.12% from its previous close of ₹490.40. The stock reached a high of ₹497.00 and a low of ₹450.00. By 12:26 PM, it traded at ₹470.00, with a market cap of ₹1,213.80 crore.
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Praveg Limited Partners with IHCL:
Praveg Limited has announced a strategic partnership with Indian Hotels Company Limited (IHCL) to manage its luxury resort, Praveg Atoll’s, on Bangaram Island, Lakshadweep. The resort will be operated under IHCL’s prestigious SeleQtions brand, enhancing its luxury offerings.
IHCL will oversee the resort’s daily operations, ensuring top-tier hospitality services and integrating sustainable tourism practices. The collaboration aims to offer a world-class experience, combining Bangaram Island’s natural beauty with IHCL’s expertise in luxury hospitality, personalized services, and curated experiences showcasing marine life and local culture.
With IHCL’s strong global presence and marketing network, the partnership is expected to boost occupancy rates and revenue growth. The SeleQtions branding and IHCL’s loyalty programs will attract premium travelers, enhancing profitability while maintaining eco-friendly tourism standards on the island.
Recent news on Praveg:
As of February 11, 2025, Praveg Ltd reported a 12.22% rise in net profit to ₹9.09 crore for Q3 FY25. Sales surged 64.14% to ₹54.28 crore, compared to ₹33.07 crore in Q3 FY24, reflecting strong business growth.
Stock performance of Praveg for Period of 1 week, 6 months, and 1 year:
Praveg Ltd’s stock performance reflects a downturn, with a 9.19% decline over the past week. The stock has dropped 43.0% in six months and 46.1% over the past year, indicating sustained bearish sentiment and investor concerns.
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Shareholding pattern of Praveg:
| Particulars | Dec 2024 | Sep 2024 | Jun 2024 |
| Promoter | 46.00% | 46% | 46% |
| FII | 10.40% | 10% | 9.00% |
| DII | 5.30% | 4.90% | 4.90% |
| Public | 38.30% | 39.10% | 40.10% |
About Praveg:
Praveg Limited (BSE: 531637) specializes in eco-responsible luxury hospitality, offering premium resorts in culturally significant and exotic locations. With high occupancy rates and strong pre-sales, the company ensures sustainable tourism while expanding into events, weddings, and banquet hotels.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
