Praveg Ltd. Results

H1FY25 & Q2FY25 Result Announced for Praveg Ltd.

Advertising & Media company Praveg announced H1FY25 & Q2FY25 results Standalone Financial Highlights: Q2FY25: Total Income of Rs 27.81 crore against Rs 14.64 crore in Q2FY24. EBITDA of Rs 8.66 crore against Rs 4.48 crore in Q2FY24. Net Profit of Rs 1.43 crore against Rs 2.10 crore in Q2FY24. EPS of Rs 0.55 against Rs 0.97 in Q2FY24. H1FY25: Total Income of Rs 52.49 crore against Rs 27.08 crore in H1FY24. EBITDA of Rs 16.29 crore, against Rs 9.42 crore in H1FY24. Net Profit of Rs 2.19 crore, against Rs 3.27 crore in H1FY24. EPS of Rs 0.55, against Rs 0.97 in H1FY24. Consolidated Financial Highlights: Q2FY25: Total Income of Rs 35.58 crore against Rs 14.64 crore in Q2FY24. EBITDA of Rs 10.58 crore against Rs 4.47 crore in Q2FY24. Net Profit of Rs 1.40 crore against Rs 2.10 crore in Q2FY24. EPS of Rs 0.55 against Rs 0.97 in Q2FY24. H1FY25: Total Income of Rs 60.26 crore against Rs 27.08 crore in H1FY24. EBITDA of Rs 18.21 crore against Rs 9.41 crore in H1FY24. Net Profit of Rs 2.17 crore against Rs 3.26 crore in H1FY24. EPS of Rs 0.85 against Rs 1.51 in H1FY24. Other Highlights: Hospitalities segment’s Revenue contributed Rs 23.67 crore. Event & Exhibition’s Revenue segment contributed Rs 2.39 crore. Advertisement Segment Contributed Rs 7.75 crore. The company is having total 619 Rooms across 12 operational resorts and one hotel. Vishnu Patel, Chairman, Praveg, said: “We are pleased with our strong revenue and operating profit growth, driven by our strategic expansion and commitment to eco-responsible luxury hospitality. Our ongoing expansion efforts have led to higher depreciation and finance costs, which have impacted our profitability in the short term. However, as our operations stabilize, we expect to see improved margins in the coming quarters. We remain on track to achieve our Vision 2028 goal of over 2,500 rooms across 65+ locations, positioning Praveg as a distinguished leader in eco-conscious luxury hospitality.”

Q1FY25 Quarterly Result Announced for Praveg Ltd.

Advertising & Media company Praveg announced Q1FY25 results: Total Income of Rs 24.68 crore, YoY growth of 98.34 % EBITDA of Rs 7.62 crore EBITDA Margin of 30.88% PAT of Rs 0.76 crore PAT Margin of 3.09% EPS of Rs 0.30 Commenting on the results Vishnu Patel, Chairman, Praveg said, “During Q1FY25, our hospitality business made significant strides with an expansion from 4 operating units in Q1FY24 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 Rs 1.58 crore. This includes a notional interest cost of Rs 1.53 crore 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 Rs 1.20 crore higher. 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. Moreover, we are encouraged by the government’s recent support for the tourism and hospitality sector. The Interim Budget’s allocation of Rs 2,479.62 crore, 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.”

Q4FY24 Quarterly & FY24 Annual Result Announced for Praveg Ltd.

Advertising & Media company Praveg announced Q4FY24 & FY24 results: FY24 Financial Highlights: Total Income for FY24: Rs 94.55 crore, showing growth from Rs 84.85 crore in FY23. EBITDA for FY24: Rs 32.14 crore, declining from Rs 45.29 crore in FY23. EBITDA Margin for FY24: 34%, down from 53% in FY23. Net Profit for FY24: Rs 12.99 crore, decreasing from Rs 28.43 crore in FY23. Net Profit Margin for FY24: 14%, down from 34% in FY23. EPS (Diluted) for FY24: Rs 5.78, declining from Rs 14.78 in FY23. Q4FY24 Financial Highlights: Total Income for Q4FY24: Rs 33.49 crore, indicating a significant increase from Rs 18.99 crore in Q4FY23. EBITDA for Q4FY24: Rs 9.46 crore, with a slight decrease from Rs 9.91 crore in Q4FY23. EBITDA Margin for Q4FY24: 28%, a notable decrease from 52% in Q4FY23. Net Profit for Q4FY24: Rs 1.63 crore, significantly lower compared to Rs 5.17 crore in Q4FY23. Net Profit Margin for Q4FY24: 5%, a substantial decrease from 27% in Q4FY23. EPS (Diluted) for Q4FY24: Rs 0.73, significantly lower compared to Rs 2.68 in Q4FY23. Preferential allotment of 14,90,000 equity shares at Rs 670/- in February 2024. Preferential allotment of 1,75,000 equity shares converted from warrants at Rs 487/- during the quarter ended March 31, 2024. Commenting on the results, Chairman Vishnu Patel remarked, "Our operational resorts have garnered an exceptional response from our esteemed guests, who have expressed tremendous appreciation for the unparalleled hospitality we offer. I am elated by the progress we are witnessing. Each new property development infuses our team members with a renewed sense of enthusiasm and purpose, allowing them to witness firsthand the remarkable achievements they are capable of realizing. "Our strategic focus remains on attaining exemplary results across both our hospitality and exhibition segments, while concurrently emphasizing prudent cost minimization. As we look ahead to FY25, we are strategically positioned to leverage the development of new resorts and properties, expanding our total number of operational rooms from 636 in FY24 to over 1,300 rooms. Our objectives are ambitious yet attainable, aiming to augment our occupancy levels to between 45% and 50%. These concerted efforts are poised to yield auspicious outcomes for our overall performance this year, propelling our operations to unprecedented heights of success and excellence."

Q3FY24 Quarterly Result Announced for Praveg Ltd.

Advertising & Media company Praveg announced Q3FY24 results: • Total Income of Rs34 crore. • EBITDA of Rs13 crore. • EBITDA margin at 39%. • Net Profit of Rs8 crore. • Net profit margin at 24%. • EPS (Diluted) of Rs3.55. Commenting on the results, Chairman Vishnu Patel said, "The operational resorts are gaining significant traction across all locations. Anticipation is high for forthcoming resorts to become operational in the next 6 months, with expectations of increased occupancy and interest. Our exhibition business has made a substantial contribution to total revenues, with promising inquiries received, indicating positive prospects ahead. The exceptional on-ground professional team has played a pivotal role in accelerating our growth, efficiently overseeing resort development and management, ensuring a swift pace in delivering luxurious experiences to our customers. These collective efforts are poised to yield positive outcomes for our overall performance this year. Looking ahead, we project our operational resorts to achieve occupancy rates of 45% to 50% in the upcoming quarter, accompanied by an average daily room rate (ADR) of Rs 9,000 to 10,500. Our ongoing commitment to nurturing our Hospitality Business remains steadfast, complemented by anticipated growth in our Events and Exhibition sector, promising to elevate our overall operations to new levels of success."