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Updated December 26th, 2023 at 15:53 IST

Praveg shares hits 52-week high on bagging orders From Daman & Diu

The Jalandhar House and Damanganga projects encompass vast areas, spanning 15,000 and 12,000 square metres, respectively.

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Praveg shares rose as much as 9.41 per cent to hit a fresh 52-week high of Rs 775 after bagging orders from the Department of Tourism, UT Administration of Dadra & Nagar Haveli and Daman & Diu. The orders pertain to the operation, maintenance, and management of Damanganga Circuit House in Silvassa and Jalandhar House in Diu on a contractual basis.

The awarded contract spans for a duration of seven years, with a potential extension of up to three additional years, subject to the authority's decision.

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Renowned as an exhibition management company, Praveg boasts of handling over 3,000 events and exhibitions in India and internationally over the past two decades. Its repertoire of products and services extends far beyond traditional exhibition management.

Vishnu Patel, chairman of Praveg Limited, expressed his delight and said, “We are thrilled to have secured the work order for the operation, maintenance, and management at Jalandhar House, Diu, and Damanganga Circuit House, Silvassa. We extend our gratitude to the UT of Dadra & Nagar Haveli and the Daman & Diu Tourism Department for their trust in us. Leveraging our team's expertise and project knowledge, we are confident in our ability to initiate operations for both of these projects following the agreement's signing.”

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The Jalandhar House and Damanganga projects encompass vast areas, spanning 15,000 and 12,000 square metres, respectively. These expansive properties represent a significant addition to Praveg's portfolio, aimed at delivering an enhanced and top-notch guest experience, further reinforcing their commitment to exceptional hospitality.

(With Rueters inputs)

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Published December 26th, 2023 at 15:53 IST

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