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based airport service aggregator DreamFolks Services, which was listed in September last year, is looking forward to tie up with international (airport) lounges. Although the company's business in India has turned a bit sluggish currently, it says that this global expansion is part of its key strategies for continued growth.

With the said international tie-ups, people with Dreamfolks card can access services like airport lounges, get assistance with airport transfers, and access golf courses and spas that the company has partnerships with. Currently, Dreamfolks has such partnerships mostly within India.

Dreamfolks' Chairman and Managing Director, Liberatha Peter Kallat, told CNBC-TV18 that revenue from international partnerships will be 8% to 10% of its total revenue in the next 3-4 years.

This pivot has come at a time when the India business has seen its margin shrink to 8.6% at the end of September 2023. This would be comparable to 16.5% for the full year ended March 2023.

In the 2023 annual report, the company said global expansion is one of its key strategic objectives for continued growth.

The 10-year-old DreamFolks Services was listed on the Indian stock exchanges on September 06, 2022. Since then, the stock is down by more than 2% at ₹496.40. However, the stock has gained more than 7% over the past one month.

As of October 26, 2023, Equirus Securities has set a target price of ₹622 for the stock.

(Edited by : C H Unnikrishnan)

First Published:Oct 26, 2023 2:06 PM IST