Q3 2024 Dreamfolks Services Ltd Earnings Call Transcript
Key Points
- Dreamfolks Services Ltd (BOM:543591) reported a revenue from operations of INR305 crore for Q3 FY24, marking a 50% year-on-year growth.
- The company has a strong market share of around 90% in card-based domestic lounge access in India.
- Dreamfolks Services Ltd (BOM:543591) has expanded its service offerings beyond airport lounges to include railway lounges, meet & assist, golf games & lessons, airport transfers, visa services, spa services, airport dining, transit hotels, nap room access, and eSIM.
- The company has launched the DreamFolks Club, offering a range of membership packages aimed at providing luxury and comfort for all budget ranges.
- Dreamfolks Services Ltd (BOM:543591) has received several awards, including Economic Times Best Brands 2023 and India's Impactful CEO 2023 awards, reflecting its strong market presence and leadership.
- The company is experiencing initial pressure on volumes due to structural changes in the credit card industry, with many banks moving to a spend-based structure instead of fixed benefits.
- Gross margins have slightly decreased, standing at 12.54% for Q3 FY24 compared to previous levels.
- The transition to a spend-based benefit mechanism by banks is still in early stages, creating uncertainty about its long-term impact on volumes and margins.
- Despite the growth in revenue, the company remains cautious about macroeconomic uncertainties and their potential impact on the travel industry.
- The contribution from non-lounge services remains negligible at present, though the company aims to increase this to 20% of its top line in the next four to five years.
Ladies and gentlemen, good day, and welcome to the DreamFolks Services Limited Q3 FY24 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
Today on this call, we have with us Ms. Liberatha Kallat, Chairperson and Managing Director; Ms. Giya Diwaan, Chief Financial Officer; Mr. Balaji Srinivasan, Chief Technology Officer and Executive Director; and Mr. Sandeep Sonawane, Chief Business Officer.
I now hand the conference over to Ms. Liberatha Kallat. Thank you. And over to you, ma'am.
A very good evening to everyone. And thank you very much for joining us on this earning conference call for Dreamfolks Services Limited for the third quarter and nine months of the fiscal year 2024. We announced the financial results earlier today, and I hope you had a chance to go through our financial results, investor presentation, and press release that are available on the stock exchanges and our website.
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