Latest news with #DreamFolks
Business Upturn
16 hours ago
- Business
- Business Upturn
DreamFolks shares fall 5% despite denial of client loss reports
Shares of DreamFolks Services Ltd fell 5% on June 20, despite the company's clarification denying any loss of clients or material impact on its business operations. The stock drop followed a PTI report on June 19, which claimed that major banks and card networks, including ICICI Bank, Axis Bank, and Mastercard, were considering ending aggregator ties with DreamFolks to establish direct partnerships with airport lounge operators. The report also suggested others might follow the same approach. In response, DreamFolks swiftly issued a statement via stock exchanges, strongly refuting the claims. The company said, 'Contract negotiation is a part of the regular business process and has no relation to the alleged news.' It added that client relationships remain robust, with more than 50 active clients under five-year Master Service Agreements (MSAs) that include annual price escalations. DreamFolks emphasized that this structure has been in place since its inception, and there has been no disruption or termination of existing contracts. Dreamfolks shares opened at ₹230.00 and, at the time of writing, touched a high of ₹235.70 before dipping to a low of ₹220.30 in today's trade. The stock remains under pressure, trading significantly below its 52-week high of ₹522.15. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
NDTV
a day ago
- Business
- NDTV
After Service Disruptions, ICICI, Axis Banks Look To Move Away From DreamFolks: Report
Mumbai: Major Indian banks and card networks, including ICICI Bank, Axis Bank, and Mastercard, are looking to move away from aggregator DreamFolks Services Ltd to establish direct partnerships with airport lounge operators, and others also may follow suit, sources said. On September 22 last year, DreamFolks -- a global travel and lifestyle services aggregator that offers lounge access services at several airports -- had witnessed "a temporary disruption in services" that led to impact lounge access of thousands of customers of banks and card networks. Though the issue was resolved the next day, it sent the banks and card networks to explore other alternatives, three sources familiar with the matter said. Leading the charge are Axis Bank and ICICI Bank as well as Mastercard, they said adding more banks are expected to follow suit. While Axis Bank declined to comment, emails sent to ICICI Bank and Mastercard remained unanswered. DreamFolk too did not immediately reply to email sent to its investor relations and other emails provided on its website. DreamFolks, which counts among major airport lounge operators in India, claims to command 90 per cent market share in the country's domestic lounge access market for debit and credit card holders. The September disruption saw flyers nationwide facing issues in accessing airport lounges. According to reports, there was a sudden closure of at least 49 lounges across 34 airports in India. Such was the extent of the trouble that Travel Food and Services, a food and beverage master franchisee that manages the airport lounge in Kolkata and Chennai, had reportedly threatened legal action against DreamFolks. Adani, which manages seven airports across India, had in a statement said, "Passengers at airports across India have been experiencing disruptions in lounge access. This is due to the unexpected suspension of services by DreamFolks Services Ltd, a lounge access provider partnered with several banks, in violation of its service agreements with the affected airports." Operators such as GMR, Adani, and TFS together manage approximately 80-85 per cent of the foot traffic through these facilities. DreamFolks currently serves as the third-party aggregator for all these lounges. In the September 22, 2024 statement, DreamFolks had stated that it was addressing "a temporary disruption in services" and had gone on to state that all its "contractual agreements remain in full force" and that it was "fully compliant with our obligations and are executing our services accordingly." Next day, it stated that its "team has successfully resolved the integration issue at Adani Airports, ensuring seamless acceptance of all eligible cards at the lounges moving forward." "Through meticulous troubleshooting, we have implemented a robust solution that guarantees smooth transactions for passengers and stakeholders alike. As a result, all eligible cards, including credit, debit, and membership cards will now be accepted at the lounges," it had said. Sources said the service disruption led to certain banks, including American Express, transitioning to Adani Digital for lounge access at Adani-operated airports. The disruption triggered lounge airports to directly work with banks to facilitate seamless services to passengers, they said. Founded in 2013, DreamFolks, a listed entity, is a leading airport services aggregator in India, facilitating access to various airport-related services for travelers, and offering a platform for clients like banks, card networks and airlines. A significant chunk of its revenues and profits comes from the airport lounges. For FY25, it reported a 14 per cent growth in revenue to Rs 1,292 crore. However, its net profit took a hit, declining by 5 per cent to Rs 65 crore. Earlier in 2025, the management announced plans to increase revenues from non-lounge services. Other services that it provides at the airport are food and beverages, spa and wellness, meet and assist, and airport transfers.
The Wire
a day ago
- Business
- The Wire
DreamFolks Revolutionizes Banking Card Benefits with Exclusive 'Members-Only' Club Access and Innovative 'Coffee at Malls' Service
New Delhi, Delhi, India (NewsVoir) Dreamfolks Services Limited, India's leading travel and lifestyle experience company, is redefining banking card privileges with the launch of two standout offerings — exclusive access to a network of 3,000 members-only social clubs worldwide, and complimentary coffee privileges at 200 malls across India. At the heart of this new offering is unparalleled access to a collection of 3000 elite social clubs — private, invitation-only spaces that have long stood as symbols of legacy, luxury, and social prestige. Located in over 150 destinations worldwide, the collection features both iconic Indian clubs and internationally acclaimed members-only venues. Complementing this premium service is the launch of the 'Coffee at Malls' program, which allows clients' end-customers to enjoy complimentary beverages at leading café chains, including Tim Hortons, Costa Coffee, Barista, and more. The program will be available at 250 coffee outlets across 175 shopping malls in 50 cities, covering key metros, tier 1 and tier 2 locations in the country. Seamlessly integrated into the existing value proposition of DreamFolks' clients, the service transforms routine retail visits into moments of lifestyle indulgence. Commenting on the expansion, Liberatha Kallat, Chairperson and Managing Director, Dreamfolks Services Limited, said: 'We are witnessing a paradigm shift in how banks view customer benefits. They are no longer content with one-size-fits-all solutions and are seeking to offer their cardholders a broader, more meaningful spectrum of experiences. Today's consumers expect more than transactional rewards — they seek moments that enhance their everyday lives and reflect their aspirations. At DreamFolks, we're proud to be leading this evolution by delivering experiences that are as personal as a coffee break during a mall visit and as aspirational as access to the world's most exclusive social clubs. These innovations empower our banking partners to deepen engagement, elevate brand loyalty, and deliver differentiated value in an increasingly competitive landscape.' These new services broaden DreamFolks' lifestyle benefits portfolio, reinforcing its ability to meet the dynamic needs of a diverse customer base. By collaborating with leading brands across both affluent and elite segments, DreamFolks empowers its clients to effectively drive their KPIs in line with evolving consumer preferences. Through strategic partnerships & curated service experiences, DreamFolks continues to drive innovation in the domain of travel and lifestyle privileges for its Clients. About Dreamfolks Services Limited DreamFolks is India's leading travel and lifestyle services aggregator, providing 'Lounge Services' at Airports, Railways, Visa Application Centres, Highways; and Other Services like Access to Social Clubs, Coffee at Malls, Golf games and lessons, Meet and Assist, Airport Transfer, Duty Free, Spa & Wellness, F&B Offers, E-Sim, Beauty and Grooming, Highway Dining, etc. DreamFolks provides these services using the 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. DreamFolks today manages the lounge and other benefits for most of the top Banks, Card Network providers and Enterprises, including the top 5 credit card issuers in India; and has a 100% coverage across airport and railway lounges in India. The company was listed in September 2022 on both BSE and NSE and has a global footprint extending to 3000 touchpoints in 100 countries. For more details, please visit: (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). This is an auto-published feed from PTI with no editorial input from The Wire.
Business Standard
a day ago
- Business
- Business Standard
DreamFolks Revolutionizes Banking Card Benefits with Exclusive 'Members-Only' Club Access and Innovative 'Coffee at Malls' Service
NewsVoir New Delhi [India], June 19: Dreamfolks Services Limited, India's leading travel and lifestyle experience company, is redefining banking card privileges with the launch of two standout offerings -- exclusive access to a network of 3,000+ members-only social clubs worldwide, and complimentary coffee privileges at 200+ malls across India. At the heart of this new offering is unparalleled access to a collection of 3000+ elite social clubs -- private, invitation-only spaces that have long stood as symbols of legacy, luxury, and social prestige. Located in over 150 destinations worldwide, the collection features both iconic Indian clubs and internationally acclaimed members-only venues. Complementing this premium service is the launch of the 'Coffee at Malls' program, which allows clients' end-customers to enjoy complimentary beverages at leading cafe chains, including Tim Hortons, Costa Coffee, Barista, and more. The program will be available at 250+ coffee outlets across 175+ shopping malls in 50+ cities, covering key metros, tier 1 and tier 2 locations in the country. Seamlessly integrated into the existing value proposition of DreamFolks' clients, the service transforms routine retail visits into moments of lifestyle indulgence. Commenting on the expansion, Liberatha Kallat, Chairperson and Managing Director, Dreamfolks Services Limited, said: "We are witnessing a paradigm shift in how banks view customer benefits. They are no longer content with one-size-fits-all solutions and are seeking to offer their cardholders a broader, more meaningful spectrum of experiences. Today's consumers expect more than transactional rewards -- they seek moments that enhance their everyday lives and reflect their aspirations. At DreamFolks, we're proud to be leading this evolution by delivering experiences that are as personal as a coffee break during a mall visit and as aspirational as access to the world's most exclusive social clubs. These innovations empower our banking partners to deepen engagement, elevate brand loyalty, and deliver differentiated value in an increasingly competitive landscape." These new services broaden DreamFolks' lifestyle benefits portfolio, reinforcing its ability to meet the dynamic needs of a diverse customer base. By collaborating with leading brands across both affluent and elite segments, DreamFolks empowers its clients to effectively drive their KPIs in line with evolving consumer preferences. Through strategic partnerships & curated service experiences, DreamFolks continues to drive innovation in the domain of travel and lifestyle privileges for its Clients. DreamFolks is India's leading travel and lifestyle services aggregator, providing "Lounge Services" at Airports, Railways, Visa Application Centres, Highways; and Other Services like Access to Social Clubs, Coffee at Malls, Golf games and lessons, Meet and Assist, Airport Transfer, Duty Free, Spa & Wellness, F & B Offers, E-Sim, Beauty and Grooming, Highway Dining, etc. DreamFolks provides these services using the 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. DreamFolks today manages the lounge and other benefits for most of the top Banks, Card Network providers and Enterprises, including the top 5 credit card issuers in India; and has a 100% coverage across airport and railway lounges in India. The company was listed in September 2022 on both BSE and NSE and has a global footprint extending to 3000+ touchpoints in 100+ countries.
Business Upturn
a day ago
- Business
- Business Upturn
Why DreamFolks shares fell 11% sharply today? Details here
DreamFolks Services Ltd shares plunged 11% following reports that leading Indian banks and card networks may sever ties with the airport service aggregator. As per Rediff Money reports, ICICI Bank, Axis Bank, and Mastercard are considering direct partnerships with airport lounge operators, potentially bypassing DreamFolks entirely. This shift could significantly impact DreamFolks' business model, which relies on aggregating travel and lifestyle services, including lounge access, for banks and financial institutions. The move comes months after a service disruption on September 22, 2023, temporarily halted lounge access for thousands of bank customers. Although the issue was resolved within a day, it reportedly prompted banks and card networks to evaluate more reliable alternatives. As per reports, more institutions may follow the lead of ICICI and Axis in cutting out intermediaries to ensure smoother customer experiences and better cost efficiencies. DreamFolks shares witnessed a volatile trading session, opening at ₹261.75 and, at the time of writing, reached a high of ₹267.00 before slipping to a low of ₹232.10. The stock closed significantly lower, reflecting notable market pressure. Over the past 52 weeks, DreamFolks has seen a high of ₹522.15 and a low of ₹209.08. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
