Dreamfolks Services Ltd(DREAMFOLKS)

NSE: DREAMFOLKSBSE: 543591

₹ 56.5-2.38%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 301 crWebsite: www.dreamfolks.inUpdated: 24 Oct 2026

About

Dreamfolks Services describes itself as India's leading travel and lifestyle experiences company. Through its own technology platform it gives access to airport and railway lounges, meet & assist, private clubs, spa and wellness, and other lifestyle services. Banks, card networks, airlines, OTAs and enterprises use it to run benefit programmes for their customers. It reported FY26 revenue of Rs 660.56 Cr and has 6,000+ touchpoints across 100+ countries.^[1][2]

Business mix

Services other than airport lounges made up about 33% of revenue in Q1 FY27, up from 6.7% in FY25.^[3]
Global lounges made up 68% of revenue in Q3 FY26, up from about 13% in Q2 FY26.^[4][5]
Banks moved from unlimited lounge access to spend-based access, and the domestic airport lounge programme was wound down. FY26 revenue fell to Rs 6,606 Mn from Rs 12,919 Mn in FY25.^[6][5]
Revenue was INR 39 crores in Q1 FY27, down from INR 52.6 crores in Q4 FY26. Management linked the drop to the war cutting India-to-Middle East travel.^[3]

Services and network

As of Q1 FY27 the global airport lounge network had 1,100+ lounges, with 70+ added during the quarter.^[3]
As of FY26 the lifestyle portfolio covered 20+ service categories, including 3,300+ private clubs and 950+ golf facilities.^[1]
In Q1 FY27 golf access covered 80+ outlets in India and 860+ courses abroad.^[3]
As of FY26, airport food and drink was available at 140+ outlets across 30+ Indian airports, and spa services at over 40 airport outlets.^[1]
DreamFolks Club is a consumer membership with three tiers: Black (benefits worth INR 5 Lakh), Orange (INR 3 Lakh) and White (INR 65,000). Black is priced at INR 50,000, and the average across tiers was about INR 30,000 in Q1 FY27.^[1][3]
The in-house technology platform is certified to ISO/IEC 27001:2022, PCI DSS 4.0.1 and SOC1 & SOC2 Type 2 (FY26).^[1]

Operating numbers

Global lounge transaction volumes grew about 140% YoY in FY26. In Q3 FY26 they rose nearly 200% YoY and about 80% QoQ.^[6][4]
320+ global airport outlets were added during FY26.^[6]
10.9 Mn passengers were served through lounges in India in FY25.^[5]
Credit cards in circulation in India stood at 120.0 Mn in Q1 FY27 (up 7.2% YoY), compared with 118.6 Mn in Q4 FY26.^[3][6]

Railway lounges

The company bought a 50.01% stake in Ten11 Hospitality LLP for INR 11.46 crores. Ten11 owns railway lounges at Chennai, Mumbai Central and Vadodara.^[5][4]
Management said in Q1 FY27 that the company has 100% railway lounge coverage across India. Building a lounge costs INR 1.5 crores to INR 5-6 crores, for 2,000 to 14,000 sq ft.^[3]
The company had 12 railway lounge locations in Q3 FY26. A Lucknow lounge was described as launching soon at the Q4 FY26 call.^[4][6]

Customers and reach

As of FY26 clients included all 5 major card networks, 20+ card issuers or banks, and 50+ enterprises. 40+ new enterprise clients were added in FY26.^[1]
Exports were 9.91% of turnover in FY26, and the digital platform serves 126 countries.^[1]
In Q1 FY27 the company signed three APAC clients: a card network in Singapore, a large Indonesian bank (already live) and a second Singapore bank. Launches were expected by end-August or early September 2026.^[3]
In FY26 the company launched a boarding-pass-based benefits programme with a leading Indian bank. It also went live with a private club programme for a global bank.^[1]

Acquisitions and subsidiaries

Easy To Travel (ETT), a Dubai acquisition, brings access to 100+ countries, 500+ airports and 1,200+ service touchpoints. In Q1 FY27 the expansion through ETT was put on hold because of the war.^[1][3]
The company holds 60% of Golfklik Private Limited and wholly owns Dreamfolks Services Pte. Ltd. in Singapore, incorporated on April 27, 2023.^[1]

Recent developments

11 Oct 2026: launched DreamFolks Club Nagavalli Wilderness Estate, a 30-acre private club with a 25-acre golf course on the Odisha - Andhra Pradesh border.^[7]
10 Oct 2026: received a GST demand cum show cause notice for Rs 1,57,73,334 covering IGST and penalty for FY 2021-22.^[8]
Q1 FY27: gross profit was negative INR 0.9 crores because of upfront minimum guarantee payments to global lounge operators. Management called these payments one-time.^[3]
Management restated its target of EBITDA breakeven by H2 FY28 (Q1 FY27 call).^[3]

Market Cap

₹301 Cr

High / Low

₹141 / 56

Stock P/E

-12.5

Price / Book

1.0

Book Value

₹59

EPS

₹2.2

No. of Shares

5.33 Cr

ROCE

5.7%

ROE

3.8%

OPM

2.7%

Debt / Equity

0.01

Sales

₹661 Cr

Net Profit

₹12 Cr

Promoter holding

65.7%

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