Mumbai, Feb. 26 -- The project will be executed under the Design, Build, Finance, Operate and Transfer (DBFOT) model on a public-private partnership (PPP) basis.

Praveg has been selected as the bidder for the project, which involves the development of a minimum of 40 luxury cottages on approximately 10 acres of land, along with allied amenities and supporting infrastructure.

The company is required to complete the development and make the project operational on a year-round basis within 18 months from the appointed date.

The project carries a concession period of 30 years from the appointed date, offering long-term revenue visibility. The company expects strong performance from the upcoming resort, strengthening its presence in the pre...