Nazara Technologies posts record Q2 FY27 revenue of $84.3m, up 53% YoY

Nazara Technologies reported record Q2 FY27 revenue of ₹803 crore ($84.3m), up 53% year-on-year. EBITDA rose 93% to ₹120 crore, with margin expanding 311 basis points to 14.9%. The company swung from a ₹34 crore ($3.6m) loss to a ₹35 crore ($3.7m) profit. Gaming, now 82% of revenue, grew 122% YoY as mobile revenue jumped 167% to ₹550 crore.

Nazara runs group-wide Centres of Excellence across marketing, data, product and technology.
Every studio plugs into the same systems, with AI embedded across all four functions.
The Marketing CoE produced more than 290 ad creatives for three studios in one month.
"Every studio now draws on group Centres of Excellence in marketing, data, product and technology, each underpinned by AI." - Raymond A. Stauffer, CEO, Nazara Technologies

Bluetile and BestPlay, consolidated from August 1, 2026, added ₹329 crore ($34.6m) in two months.
Their combined revenue rose 49% YoY, with EBITDA up 64% to ₹64 crore ($6.2m).
EBITDA margin improved to 19.4% from 17.5% as the pair joined Nazara's shared infrastructure.
Bluetile's leadership holds a 5.8% stake in Nazara, aligning its incentives with shareholders.

Existing gaming businesses grew 11% in revenue and 17% in EBITDA organically this quarter.
WildWorks revenue rose 41% on new Animal Jam content, including a Monster High season.
Curve grew revenue 27% and EBITDA 61%, with margin expanding to 38.9%.
Kiddopia revenue grew 21%, driven by a 5% subscriber rise and an 8% ARPU increase.

For Investors & VC: Add Indian consolidators to exit maps for profitable Western mobile and kids studios.
For Service Vendors: Redirect ad-creative outsourcing pitches away from studios absorbed into shared-services holding groups.
For Publishers & Developers: Benchmark standalone margins against shared-services acquirers before rejecting consolidation offers.