Praveg Limited Secures Rs 12.99 Crore Contract from Tourism Corporation of Gujarat Limited for Statue of Unity Event Infrastructure

Ahmedabad (Gujarat) [India], September 17: Praveg Limited (BSE – 531637), a company engaged in tourism, hospitality, event management and allied infrastructure services, today announced that it has received a Letter of Acceptance (LoA) dated September 16, 2026, from Tourism Corporation of Gujarat Limited (TCGL), a Government of Gujarat undertaking, for a comprehensive event infrastructure and operations assignment at the Statue of Unity (SOU) Area, Gujarat.

The accepted contract value is ₹12,99,61,000/- (Rupees Twelve Crore Ninety-Nine Lakh Sixty-One Thousand only), plus applicable GST.

The assignment covers the development, erection and furnishing of the complete set-up, supporting infrastructure, and the operation, maintenance and running of the premises for 13 days, from October 20, 2026 to November 1, 2026.

The scope includes temporary structures, furniture, fixtures, equipment, electrical and utility arrangements, manpower deployment, housekeeping, maintenance and allied operational support, as specified under the tender and contractual documents.

Strategic Significance

The contract reinforces Praveg’s capabilities in executing integrated, time-bound event infrastructure and operations projects, combining infrastructure mobilisation, hospitality support and on-ground facility management.

The award further strengthens the Company’s engagement in Gujarat’s tourism and events ecosystem and provides an opportunity to deploy its integrated capabilities across project execution, temporary infrastructure, hospitality services and operations. It is aligned with Praveg’s broader focus on developing scalable opportunities across tourism, hospitality, event management and allied infrastructure services.

Commenting on the Development, Dr. CA Vishnu Patel, Chairman and Managing Director of Praveg Limited said: “We are pleased to receive this Letter of Acceptance from Tourism Corporation of Gujarat Limited for the development and operation of rest shelter facilities at the Statue of Unity Area. This assignment reflects Praveg’s capabilities in integrated event infrastructure and operational management, and reinforces our ability to execute time-bound projects at prominent tourism destinations. We remain focused on expanding our presence across the tourism and experiential infrastructure ecosystem through disciplined execution, quality service delivery, and sustainable business opportunities.”

About Praveg Limited

Praveg is a pioneer in eco-responsible luxury hospitality. The Company’s resorts are located in areas of significance from a cultural and heritage point of view and places of exotic and natural beauty. The company’s luxury resorts allow access to locations where no traditional construction is possible, which allows tourism to flourish while ensuring the preservation of delicate local ecosystems. Due to the premium quality of the company’s resorts and the high-end experience, the resorts enjoy very high occupancy, strong pre-sales at luxury hotel rates, and a high return on capital due to the non-permanent structure of the resort.

Praveg is also a strong player in events due to its roots in event management and expertise in creating large, non-permanent, world-class structures in very short periods of time. The Events division has recently diversified into Weddings and banquet hotels.