Praveg Ltd announces strategic inventory agreement with Mahindra Holidays & Resorts India Ltd for Praveg Atoll, Lakshadweep - Thinnakkara

Praveg Limited is pleased to announce the execution of a strategic inventory agreement with Mahindra Holidays & Resorts India Limited (MHRIL) for its upcoming premium island hospitality project, Praveg Atoll, Lakshadweep - Thinnakkara, which is expected to be operational shortly.

The agreement is for a period of three (3) years and represents a significant step in Praveg's expansion into India's exclusive island tourism segment. Under the terms of the agreement, MHRIL will secure an inventory of 25 rooms on a floating basis at Praveg Atoll, Lakshadweep - Thinnakkara.

This collaboration combines Praveg's expertise in eco-responsible luxury hospitality with MHRIL's strong brand presence and extensive holiday member base, with the shared objective of offering curated, high-quality Island experiences in one of India's most pristine destinations.

Dr. Vishnu Patel, Chairman of Praveg Limited, "Lakshadweep is among India's most exclusive and environmentally sensitive tourism destinations. The inventory agreement with Mahindra Holidays & Resorts India Limited for our upcoming Praveg Atoll - Thinnakkara reflects our commitment to sustainable luxury hospitality. As the property becomes operational shortly, we are confident that this partnership will enhance guest experiences and create long-term value for both organizations."

Key Features of the Agreement

- Property: Praveg Atoll, Lakshadweep - Thinnakkara
- Inventory: 25 rooms on a floating basis
- Tenure: 3 years
- Nature of Collaboration: Inventory agreement aimed at enhancing occupancy, revenue visibility, and guest experience through a reputed national hospitality brand

Operational and Service Standards

Upon commencement of operations, Praveg Limited will operate and manage the property, ensuring adherence to high standards of service, guest comfort, sustainability, and regulatory compliance applicable to the Lakshadweep archipelago. The detailed commercial and operational terms are governed by the inventory agreement executed between the parties.

Strategic Rationale and Benefits

For Praveg Limited, the agreement strengthens its market positioning through association with a reputed hospitality brand, improves demand visibility for the upcoming property, and reinforces its footprint in premium island hospitality.

For MHRIL, the partnership enables portfolio expansion into Lakshadweep, offering its members access to a distinctive island destination operated by a specialist in eco-responsible luxury hospitality.

Shares of Praveg Communications (India) Ltd was last trading in BSE at Rs. 311.90 as compared to the previous close of Rs. 323.35. The total number of shares traded during the day was 77140 in over 1092 trades.

The stock hit an intraday high of Rs. 328.20 and intraday low of 310.00. The net turnover during the day was Rs. 24474643.00.

Source : Equity Bulls

Keywords

Praveg INE722B01019 InventoryAgreement MahindraHolidaysandResortsIndia ClubMahindra PravegAtoll Lakshadweep