Praveg Ltd Q4 FY25 Earnings Analysis
Published 28 May 2026 | Leisure Services | Market Cap: ₹733 Cr
Price
₹278
Market Cap
₹733 Cr
Earnings Summary
Praveg Limited plans to expand from approx. Praveg Limited reported robust growth in FY ‘25 with consolidated total income of Rs.
📊 Revenue & Sales Performance
- →Praveg Limited plans to expand from approx. 770 rooms currently to over 2,500 rooms by Vision 2028, targeting 55 to 65 locations.
- →The company aims to increase inventory by about 50% annually, adding around 505 rooms in the coming year.
- →New resorts under development include Serengeti, Thinnakara-II (200 rooms), Kashid, Kihim, and Jaisalmer, expected to become operational soon, contributing significant incremental revenues.
- →Revenue growth is expected as newly operational resorts mature, with marketing and branding efforts expected to improve occupancy and ARR within 6-12 months of opening.
- →The smart toilets and outdoor advertising vertical is set to deliver significant revenue growth, with potential incremental revenue increasing 80-90% year-over-year.
- →Event and wedding business, especially in Kevadiya, is expected to contribute a "tremendous incremental" revenue boost this year.
- →Overall, EBITDA margins are projected to improve beyond the current ~34-35% as newer resorts stabilize.
📈 Profitability & Margins
- →Praveg Limited reported robust growth in FY ‘25 with consolidated total income of Rs. 174.43 crores, EBITDA of Rs. 56.88 crores, and net profit of Rs. 16.13 crores.
- →EPS for FY ‘25 on a consolidated basis was Rs. 5.96, up slightly from Rs. 5.78 last year.
- →The company targets an average EBITDA margin of around 40% over project periods, expecting incremental improvement in FY ‘26 as newer resorts mature.
- →Expansion plans include operationalizing 25 resorts by FY ‘26 with room inventory potentially increasing to 1,250-1,300 rooms.
- →New properties usually take 6-12 months to build ARR and occupancy; margins and revenue expected to improve with time.
- →The advertising and smart toilets verticals have strong growth potential, contributing up to 80-90% incremental revenue growth in initial years.
- →Strategic partnerships (with IHCL and Mahindra) and international projects like Serengeti aim to boost profitability further.
- →Overall, Praveg is optimistic about steady revenue, EBITDA, and net profit growth aligned with Vision 2028 targets.
🏗️ Capital Expenditure Plans
- →Current CAPEX: Approximately Rs. 30-40 crores planned to complete work-in-progress on 4-5 resorts.
- →Rs. 100 crores CAPEX to convert work-in-progress at Thinnakara (200 rooms) into developed assets this year.
- →Future CAPEX funding primarily through existing resources, including warrants and promoter/fund contribution if required; company is debt-free and prefers no new debt.
- →Strategic "Development plus Operation" model initiated: Praveg partners with landowners who invest in development; Praveg provides turnkey development and operates properties with no CAPEX burden on itself.
- →This model is expected to contribute significantly to revenue and profit soon without requiring fresh capital from Praveg.
- →Planned development and operation of 5-10 resorts this year; approvals and work ongoing on multiple projects including Serengeti, Kashid, Kihim, Jaisalmer, and Lakshadweep.
- →Expansion in outdoor advertising/media with zero CAPEX smart toilet projects generating recurring revenue.
💰 Fundraising & Capital Structure
- →Praveg Limited is currently a debt-free company and does not plan to raise any debt as per their strategy.
- →For funding CAPEX and expansion, the company plans to utilize its existing resources including funds from warrants.
- →They are also exploring a unique development plus operation model where they develop and operate resorts on land owned by investors, requiring zero CAPEX from Praveg.
- →This "operation and development" model allows revenue generation from property development without the need for raising additional equity or preference share capital.
- →Overall, no immediate plans to raise funds through debt or equity were indicated; funding will come from internal accruals, warrants, and innovative partnership models.
📋 Order Book & Pipeline
- →Praveg Limited has several resorts under development, with 505 upcoming rooms expected to be operational in the current year.
- →Specific projects under progress include Serengeti (25 rooms, already working under development), Thinnakara-II (200 rooms), Kashid and Kihim (around 35 to 40 rooms each), and Jaisalmer (40 to 50 rooms nearing approval).
- →Bangaram resort is already operational (50 rooms given to Indian Hotels as of January 2025).
- →The company expects to operate around 25 resorts by the end of the year.
- →They have plans to build 5 to 10 new resorts this year.
- →Potential acquisitions of ready or underdeveloped properties are also being considered to expand the pipeline.
- →International projects include the Serengeti project with environment clearance received and ongoing development.
- →Expansion at Masai Mara is also in progress for additional resort locations.
Key Metrics
Frequently Asked Questions
What were Praveg Ltd Q4 FY25 results?
Praveg Limited plans to expand from approx. Praveg Limited reported robust growth in FY ‘25 with consolidated total income of Rs.
What is Praveg Ltd share price analysis?
Praveg Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹733 Cr. Investors should review the full earnings analysis for detailed insights.
Is Praveg Ltd planning capital expenditure?
Current CAPEX: Approximately Rs.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.