Financial Performance Overview

Q2FY27 Performance:

  • Revenue: INR 803 crore, up 53% YoY
  • EBITDA: INR 120 crore, up 93% YoY
  • EBITDA Margin: 14.9%, expanded 311 basis points
  • Profit after tax from continuing operations: INR 35 crore (compared to loss of INR 34 crore in Q2FY26)

H1FY27 Performance:

  • Revenue: INR 1,232 crore, up 20%
  • EBITDA: INR 166 crore, up 52%
  • EBITDA Margin: 13.5%

Segment Performance

Gaming Segment (82% of total revenue):

  • Revenue: INR 656 crore, up 122% YoY
  • EBITDA Margin: 21.5%
  • Organic growth: 11% revenue growth and 17% EBITDA growth

Sub-segment Performance:

  • Mobile Gaming: Revenue grew 167% to INR 550 crore
  • PC & Console: EBITDA grew 61%, with Curve's margin expanding to 38.9%
  • Offline Gaming: EBITDA grew 29% on flat revenue, with margin rising to 26.2%

Acquisition Integration (Bluetile and BestPlay)

First two months performance (August-September 2026):

  • Revenue: INR 329 crore, up 49% over same period last year
  • EBITDA: INR 64 crore, up 64%
  • EBITDA Margin: 19.4% (expanded from 17.5%)
  • Bluetile's leadership team holds 5.8% of Nazara

Growth Drivers: Rapid product iteration, expansion into new markets, AI-automated user acquisition, and cross-promotion across portfolio

Studio Performance Highlights

WildWorks:

  • Revenue grew 41%
  • EBITDA grew 39%
  • Driven by new Animal Jam content including Monster High-themed season

Kiddopia:

  • Revenue grew 21%
  • Subscribers increased 5%
  • Average revenue per user increased 8%
  • Reinvesting in user acquisition

Fusebox:

  • Launched Traitors and new Big Brother season
  • Love Island: The Game ranked #1 among free role-playing games on US App Store in July

Curve:

  • Revenue grew 27%
  • EBITDA grew 61%
  • Sovereign Tower launch rated "Overwhelmingly Positive" on Steam
  • Wobbly Life mobile debut at #3 in its genre on App Store and Google Play
  • Human Fall Flat passed 60 million players in its 10th anniversary year

Operational Transformation

Group Centers of Excellence (CoEs):

  • Marketing CoE: Produced 290+ ad creatives for three studios in one month
  • Data CoE: Single AI-ready data stack powers analytics across group
  • Product & Technology CoEs: Common prioritization and greenlight process
  • AI embedded in all four CoEs

Management Changes

New Leadership Appointments:

  • Raymond A. Stauffer (Founder of Bluetile and BestPlay) appointed CEO on September 16, 2026
  • Mithun Sacheti (Founder of CaratLane) joined as Executive Director on October 12, 2026 (subject to shareholder approval)
  • Arun Agarwal (former Global CFO of Ness Digital Engineering) joined as Chief Financial Officer on October 16, 2026

Business Overview

Nazara Technologies is India's only publicly listed gaming company with portfolio including:

  • Bluetile, Curve Games, Kiddopia, Animal Jam, Fusebox Games (Love Island, Big Brother, Bigg Boss, Traitors)
  • C.A.T.S., World Cricket Championship, King of Thieves
  • Offline gaming: Funky Monkeys and Smaaash Entertainment
  • Adtech: Datawrkz
  • Sports media: Sportskeeda

Geographic presence: India, North America, Europe, and other global markets.