What I have understood after reading the annual report, is that they are counting growth mostly from a couple of areas
→ Increasing number of airports, more airports are being built or going to be operational in next 5-10 years, more airports more lounges. https://timesproperty.com/news/post/upcoming-airport-projects-in-india-blid4421
→ The other growth area will be the pick up of debit-credit cards in the growing middle class in the country. In India, there are around a 86million credit cards and around 945 million Debit cards, In comparison China has 10 times these numbers, The Company expects that more people using debit/credit cards can/will have a trickle-down impact on the usage of lounges in airports as well.
→ They are also looking to expand in the international lounge market but not sure how big this opportunity could be for the company.
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