The shares of India’s leading airport & travel services aggregator rose 2.6 percent to an intraday high of Rs 567 per share after collaborating with Russia-based airport and lounge service aggregator “Grey Wall”.
Dream Folks Ltd is a small-cap stock having a Rs 2,960 crore market value. The shares of the company have returned 15 percent in the last month and 52 percent in the previous year.
DreamFolks to strengthen its global presence collaborated with Grey Wall, one of the largest airport and lounge service aggregators in Russia.
DreamFolks and Grey Wall aim to improve the cross-border travel experience with this collaboration. Clients of DreamFolks and their end users have access to Grey Wall’s extensive ecosystem of lounges and services in Russia. The business stated in its filing.
DreamWorks technology platform will provide seamless access to around 100 lounges in important airports and train stations throughout Russia, delivering a frictionless experience for travellers seeking lounge access.
In addition to this, Grey Wall stands to capitalise on DreamFolks’ vast network of Clients, a strategic avenue to increase footfall at their lounges. This synergy between the two entities promises a blend of premium amenities and streamlined services.
In India, Dreamfolks has a 68 percent market share in lounges, and a 22 percent market share in exclusive airport lounges, the company enjoys a market share of over 90% in the domestic lounge access market for India-issued debit and credit programs.
In recent quarters company has expanded its global footprint by entering Malaysia Market and company Partnered with one of the biggest card issuers in the country to provide Golf services to their customers.
The Dreamfolks receives 95 percent of its revenue from lounge service charges and 5 percent from fees associated with other airport services such as food and beverages, meet and assist airport transfers, and so on.
The company operates over 1,500 touchpoints in 540 locations and 121 countries as of March 31, 2023. Additionally, the business manages 56 lounges around India.
According to financials, operating revenues increased by 65 percent from Rs 171 crore in Q2FY23 to Rs 282 crore in Q2FY24, while net profit increased by 20 percent over the same period, from Rs 15 crore to Rs 18 crore.
DreamFolks is India’s leading airport & travel services aggregator and provides an in-house proprietary technology platform that allows its clients such as Banks, Card Networks, Airlines, OTAs, and Enterprises to create custom offerings for their end Consumers.
At the time of writing this report, Dream Folks shares were trading at Rs 559.10 per share, up 1.19 percent from the previous close price.
Written by Omkar Chitnis
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