Praveg Limited 9M FY23 PAT up 208%

Mumbai (Maharashtra) [India], February 16: Praveg Limited (BSE – 531637), a renowned name in the Indian Tourism & Hospitality and Event & Exhibition Management industries, reported unaudited Financial Results for the Q3 & 9M FY23.

Financials at a Glance:

Q3 FY23:

•          Total Income for Q3 FY23 at 28.47 crore; up 79.85%
•          EBITDA for Q3 FY23  at 17.19 crore; up 107.36%
•          PAT for Q3 FY23  at₹11.57 crore; up 111.13%
•          EPS at₹6.01; up 103.04%

9M FY23:

•          Total Income for 9M FY23 at 65.81 crore; up 131.73%
•          EBITDA for 9M FY23 at₹35.37 crore; up 188.26%
•          PAT for 9M FY23 at 23.25 crore; up 207.54%
•          EPS at ₹12.09; up 195.60%

Speaking on occasion, Mr. Vishnu Patel, Chairman of Praveg Limited, said – “The company has seen a significant increase in travel demand during the first 9 months of the FY23, which has had a positive impact on the company’s overall performance. This is great news for the company as the travel industry has been affected by the COVID-19 pandemic.

Looking ahead, the company expects this trend to continue and sees great potential for further growth in the future. By adding new resorts to its portfolio, the company is confident that it will be able to enhance its performance even further. This is a strategic move that will allow the company to tap into new markets and provide customers with even more diverse travel options.”

About Praveg Limited:

Founded in 2005, Praveg is a leading Company with having presence in diverse business segments like exhibition management, event management, tourism, hospitality and publication. Its core strength lies in independent and sophisticated infrastructure, expert and experienced manpower and an in-house creative studio.

The company’s diverse clientele includes Gujarat State Government, large corporates and renowned entrepreneurs. Praveg’s wide range portfolio includes the execution of large-scale projects across the nation and in the USA, China, South Korea, Africa, Europe and in the Middle East.

Praveg has been an industry leader in Events/Exhibition management for over 20 years and has successfully completed over 3000 large and medium events/exhibitions to date. The Company has handled various prestigious projects like Tent City Narmada – Statue of Unity, Tent City Varanasi and White Rann Resort – Rann Utsav are few among them.

For FY22, the Company reported total Revenues of ₹ 45.03 crores, EBITDA of ₹ 19.62 crore and Net Profit of ₹ 12.23 Crore.

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