This Indian firm, which has a 68 percent market dominance in airport lounges and a 95 percent market share in card-based lounge access, witnessed its shares climb 9.7 percent to an all-time high of Rs 717.85 per share after partnering with airport hospitality provider Plaza Premium Group.
Dreamfolks Services Ltd shares were trading at Rs 688 on the NSE at 12:30 p.m., up 5.31 percent from the previous close price.
As per the company’s filing on BSE,DreamFolks partnered with airport hospitality supplier Plaza Premium Group to grow the global lounge network and improve the travel experience for Indian passengers.
The agreement will see an inclusion of over 340+ Plaza Premium Lounges in over 70 major international airports, including Plaza Premium Lounges on four continents. DreamFolks will offer an enhanced travel experience to its members worldwide starting July 24, 2023.
Year to date, the stock has increased by 85.67 percent, from Rs 368.40 to current value.
Dreamfolks Services Ltd is India’s largest airport service aggregator, committed to improve airport experiences for passengers by the use of a technology-driven platform that offers services like lounges, food & beverage, transit hotels, and many more.
Dreamfolks Services has collaborated with India’s domestic airports to improve revenue growth. And the company has increased its presence in the railway business; it already has 10 train lounges in its portfolio and expects to add more as Indian Railways modernise.
According to financials, operational sales climbed by 174 percent to 776 crore in FY 22-23 from the previous year, while net profit increased by 350 percent to Rs 72 crore.
As per FY 22-23 shareholding pattern,promoters own 66.02 percent of the company, domestic institutional investors own 8.92 percent, and foreign institutional investors own 11.94 percent.
Written by Omkar Chitnis
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