Praveg Ltd Bags Rs 11.16 Crore Contract for Statue of Unity Project

Tentative Contract Value: Rs 11.16 Crore
Operational Period: 13 Days (Oct 20, 2026 – Nov 1, 2026)

Reader Takeaway: This formalized order secures short-term revenue for Q3 FY27, though final payments depend on verified site measurements.

What just happened

Praveg Ltd has received a formal work order from the Tourism Corporation of Gujarat Limited (TCGL) to act as an event contractor for the Statue of Unity (SOU) area. This follows a previous Letter of Acceptance disclosed by the company in September 2026. The contract entails setting up, furnishing, and operating rest shelter facilities designed to house 6,700 personnel using 3,350 two-tier bunk beds.

Why this matters

The formalization of this order provides tangible revenue visibility for the company’s hospitality and event management business. With a defined scope and a set operational period, the project contributes to the company's performance metrics for the third quarter of the 2026-27 financial year. The total value is estimated at Rs 11.16 crore, subject to GST.

Operational Timeline

The project follows a strict schedule to ensure operational readiness for the event. All installation and furnishing works are mandated to be completed by October 18, 2026. The site will be fully operational from October 20 through November 1, 2026. Following the event, the company is responsible for dismantling and site restoration within a seven-day window.

Risks to watch

Investors should note that the final revenue realization is not fixed. The contract value is subject to adjustment based on the actual quantities executed at the site. These measurements must be certified by the Project Management Consultant (PMC) and TCGL, meaning the final payout may fluctuate depending on the verified Bill of Quantities (BOQ).

What to track next

Shareholders should monitor the company’s ability to adhere to the tight completion deadline of October 18, as any project delays could impact site handover and operational efficiency during the peak 13-day event window.