Praveg Ltd opens second Beach Resort in Daman

Today, the Sensex is trading lower by 0.16%, while the Nifty is trading lower by 0.07%.

In dampen market sentiments, the shares of Praveg Limited soared 2.29%. The company’s current market capitalization is Rs 1,053.76 crore.

Today, Praveg Limited has revealed the opening of its second beach resort project in Daman – Praveg Beach Resort at Jampore Beach. The resort, set to become operational on August 12, 2023, offers a total of 28 luxurious Cottages and 7 Machan Cottages.

The unique feature of the Machans is that they will be elevated 8 feet above ground level, providing captivating views of the sea. Praveg’s first project, Praveg Lighthouse Beach Resort, is currently operating at full capacity.

Praveg Limited’s newest addition, the Praveg Beach Resort at Jampore Beach in Daman, offers a thoughtfully designed stay amidst captivating coastal surroundings. The eco-friendly resort provides top-notch facilities, guaranteeing an unforgettable experience for guests.

Tourists can also explore the nearby Moti Daman Jetty, known for its distinct blackish mud-coloured water. With this addition, Praveg now operates 5 properties and has 9 more in development.

Speaking on the occasion, Vishnu Patel, Chairman – Praveg Limited said, “We are delighted to announce the opening of Praveg Beach Resort at Jampore Beach, Daman. Praveg Jampore Beach Resort promises an unparalleled experience of luxury, sustainability, and natural beauty. Situated on the picturesque Jampore Beach, this new addition to our portfolio offers a haven of relaxation and sophistication to our guests.”

Company profile

Praveg Communications Limited was established in 2016 through the merger of Praveg Communications Limited and Sword and Shield Pharma Limited. It operates as an advertising company, specializing in Exhibition and Event Management. Additionally, the company provides services to the Hospitality sector, Publications, and Real Estate marketing. It has expanded its presence with branches both nationally and internationally.

Over the past 5 years, the company has achieved an impressive profit growth of 182% CAGR. It also boasts a strong track record of return on equity (ROE) with a three-year ROE of 46.5%. Additionally, the company has been consistently maintaining a healthy dividend payout of 64.1%.

The stock has witnessed significant buying activity as it has surged more than 1090% in the last 3 years. 

 Keep a close eye on this trending pharmaceutical stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.