Profitmart research report on Praveg
Praveg Limited is coming up with a luxury 5-star hotel in Ahmedabad on a long-term lease of 10 years, which may extend for another 10 years. The hotel will be located in the prime location at Ahmedabad on the Sindhu Bhawan Road. Praveg’s new hotel will be the only pure vegetarian 5-star hotel in the city known to abide by traditions Praveg Limited will be getting this hotel property worth of Rs 130 crs on long-term lease with a lease investment of Rs 5 crs in the hotel for cutlery, service equipment, computers, and other service-related inventory. In addition to the above, the management expects a revenue potential of Rs 35 to 40 crs annually from the hotel This premium hotel will feature 76 rooms with beautiful city views and plush amenities, like Infinity Pool, Open Sky Dining, Meditation Room specially designed for social functions, a Swimming Pool, among other facilities.
Outlook
Hence we believe that the Praveg stock should be purchased at the current price for a price target of around Rs 672 over the next 18 months.
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