Airport services aggregator DreamFolks Services has made a surprise exit from the domestic airport lounges business, effective immediately. The move has spooked investors, dragging the company’s stock down by 5 per cent on Thursday, September 18, following another 5 per cent lower circuit in the previous trading session.
DreamFolks Halts Domestic Lounge Access
DreamFolks informed the stock exchanges on Tuesday after market hours, that it has discontinued access to domestic airport lounges for its clients with immediate effect. The company said the move will have a significant impact, though all other domestic services and its international lounge business will continue as usual.
The company clarified that its “other domestic services and global lounge business will continue as usual.” Earlier, on August 29, DreamFolks disclosed in a regulatory filing that it had received notices from suppliers about discontinuing certain services. “The suppliers are Adani Digital, Semolina Kitchens (effective September 15, 2025), and Encalm Hospitality (effective November 01, 2025),” it had said.
During the June quarter earnings call on August 7, DreamFolks Chairperson and Managing Director Liberatha Kallat noted that the industry is undergoing constant change.
DreamFolks Loses 61% Value in a Year
In FY24-25, DreamFolks Services reported a net profit of Rs 65 crore on revenues of Rs 1,292 crore. The company had entered the stock market in August 2023, raising Rs 562.10 crore through its IPO at Rs 326 per share. Back then, its valuation crossed Rs 1,700 crore. But just a year later, nearly 61% of that market value has been wiped out, dimming the early optimism around the stock.
