{"id":29843,"date":"2024-08-12T11:44:22","date_gmt":"2024-08-12T06:14:22","guid":{"rendered":"https:\/\/livemumbai.in\/index.php\/2024\/08\/12\/praveg-limiteds-q1-fy25-consolidated-total-income-soars-by-98-percent\/"},"modified":"2024-08-12T11:44:22","modified_gmt":"2024-08-12T06:14:22","slug":"praveg-limiteds-q1-fy25-consolidated-total-income-soars-by-98-percent","status":"publish","type":"post","link":"https:\/\/livemumbai.in\/index.php\/2024\/08\/12\/praveg-limiteds-q1-fy25-consolidated-total-income-soars-by-98-percent\/","title":{"rendered":"Praveg Limited\u2019s Q1 FY25 Consolidated Total Income Soars by 98 Percent"},"content":{"rendered":"<div>\n<div>\n<p><strong>\u00a0Mumbai (Maharashtra) [India], August 12:<\/strong> Praveg Limited(BSE \u2013 531637),\u00a0India\u2019s leading eco-responsible luxury resorts company,\u00a0reported its Unaudited\u00a0Financial Results for the\u00a0Q1 FY25.<\/p>\n<p><strong>Key Financial Highlights<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>Consolidated Key Financial Highlights Q1 FY25<\/li>\n<li>Total Income of \u20b9 24.68 Cr, YoY growth of 98.34 %<\/li>\n<li>EBITDA of \u20b9 7.62 Cr<\/li>\n<li>EBITDA Margin of 30.88%<\/li>\n<li>PAT of \u20b9 0.76 Cr<\/li>\n<li>PAT Margin of 3.09%<\/li>\n<li>EPS of \u20b9 0.30<\/li>\n<\/ul>\n<p><strong>Key Operation Highlights<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>Hospitalities segment\u2019s Revenue contributed \u20b9 21.42 Cr (\u20b9 6.41 Cr) in Q1 FY25<\/li>\n<li>Event &amp; Exhibition\u2019s Revenue segment contributed \u20b9 1.98 Cr (\u20b9 5.56 Cr) in Q1 FY25<\/li>\n<li>The company is having total 619 Rooms across 12 operational resorts and one hotel.<\/li>\n<\/ul>\n<p>Commenting on the results Mr. Vishnu Patel, Chairman, Praveg Limited said, \u201cDuring Q1 FY25, our hospitality business made significant strides with an expansion from 4 operating units in Q1 FY24 to 13 operating sites. This substantial increase led to higher depreciation, manpower, and operating costs, yet we achieved an impressive top line growth of around 100% compared to the same quarter last year. Despite these advancements, we faced an increase in finance costs, totalling \u20b9 1.58 Cr. This includes a notional interest cost of \u20b9 1.53 Cr debited to the profit and loss account due to compliance with IND AS 116 on leases. Without this mandatory accounting adjustment, our profit would have been approximately \u20b9 1.20 Cr higher.<\/p>\n<p>The traditionally slower Q1 period for the hotel industry did not deter our progress. Our strategic investments and focus on delivering exceptional guest experiences contributed to significant revenue growth. The expansion of our operations is a testament to our commitment to long-term growth and excellence in the industry, with 13 managed properties currently operational and 14 more in development.<\/p>\n<p>Moreover, we are encouraged by the government\u2019s recent support for the tourism and hospitality sector. The Interim Budget\u2019s allocation of \u20b9 2,479.62 Cr, 46.54% increase from the previous year emphasizes the importance of developing and maintaining tourist infrastructure. This enhanced support, combined with our expanding portfolio and innovative offerings, positions us well to capitalize on the growing demand for premium, sustainable travel experiences and further solidify our market leadership.\u201d<\/p>\n<p><strong>Highlights For Q1 FY25 (April 2024 \u2013 June 2024)<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>The company has issued 12,93,024 \u00a0equity shares, having a face value of\u00a0\u20b9\u00a010, fully paid-up, on a preferential basis at\u00a0\u20b9\u00a0955 per share (comprising a premium of\u00a0\u20b9\u00a0945 per share), total aggregating amount of\u00a0\u20b9\u00a012348.38 lakhs.<\/li>\n<li>The Company has issued 8,56,976 convertible warrants at\u00a0\u20b9\u00a0955 each (including a premium of\u00a0\u20b9\u00a0945 per warrant) has received\u00a0\u20b9\u00a02,046.03 Lakhs, which is 25% of the total aggregate amount of\u00a0\u20b9\u00a08184.12 Lakhs.<\/li>\n<li>The Company has changed its website from <a href=\"http:\/\/www.praveg.com\/\" target=\"_blank\" rel=\"noopener\">www.praveg.com<\/a> to\u00a0<a href=\"http:\/\/www.dizcoverpraveg.com\/\" target=\"_blank\" rel=\"noopener\">www.dizcoverpraveg.com<\/a>.<\/li>\n<li>Commencement of Operations at Nagoa Beach, Diu, on May 15, 2024, with 40%-50% occupancy and ARR of\u00a0\u20b9\u00a07,000-\u20b9\u00a09,000, featuring eco-conscious design, 31 premium tents, and 4 dual-bedroom sunset suites.<\/li>\n<li>Secured 30-year land lease in Jawai, Rajasthan Cave Resort.\u00a0The resort features 12 luxury cave rooms, 8 tents, a pool, restaurant, bar, unique safaris, supporting an eco-luxury strategy<\/li>\n<li>The Company acquired 51% stakes in Abhik Advertising Private Limited and Bidhan Advertising and Marketing Private Limited.<\/li>\n<\/ul>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Mumbai (Maharashtra) [India], August 12: Praveg Limited(BSE \u2013 531637),\u00a0India\u2019s leading eco-responsible luxury resorts company,\u00a0reported its Unaudited\u00a0Financial Results for the\u00a0Q1 FY25. Key Financial Highlights Consolidated Key [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":29844,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[623],"class_list":["post-29843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts\/29843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/comments?post=29843"}],"version-history":[{"count":0,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts\/29843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/media\/29844"}],"wp:attachment":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/media?parent=29843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/categories?post=29843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/tags?post=29843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}