Nazara Technologies reports record Q2FY27 revenue of ₹803 crore, up 53% YoY

Nazara Technologies reports record Q2FY27 revenue of ₹803 crore, up 53% YoY, with EBITDA surging 93% to ₹120 crore. Here’s a full breakdown of India’s top gaming company’s landmark quarter.

Nazara Technologies Posts Record Q2FY27 Results: Revenue Jumps 53%, EBITDA Nearly Doubles

India’s only publicly listed gaming company just had its best quarter ever — and the numbers make a compelling case that the best is still to come.

Nazara Technologies has announced record financial results for Q2FY27, the quarter ended 30th September 2026, reporting its highest-ever quarterly revenue of ₹803 crore — a 53% year-on-year jump. EBITDA surged 93% to ₹120 crore, margins expanded by 311 basis points to 14.9%, and the company swung from a loss of ₹34 crore in Q2FY26 to a profit after tax of ₹35 crore from continuing operations.

This isn’t just a strong quarter. It’s a defining one — and it signals the shape of the global gaming platform Nazara is building with intent and discipline.

The Numbers That Tell the Story

Gaming Is Now the Engine—and It’s Firing on All Cylinders

Gaming contributed 82% of consolidated revenue in Q2FY27 and effectively all EBITDA before corporate costs — underscoring Nazara’s decisive pivot toward becoming a focused, profitable gaming company rather than a diversified digital entertainment conglomerate.

Gaming revenue grew 122% YoY to ₹656 crore at a remarkable 21.5% EBITDA margin. Across every sub-segment, the story was one of growth:

• Mobile grew revenue 167% to ₹550 crore
• PC & Console grew EBITDA 61%, with Curve’s margin expanding to an impressive 38.9%
• Offline grew EBITDA 29% on flat revenue, with margin rising to 26.2%

Organic growth — stripping out the impact of new acquisitions — was 11% in revenue and 17% in EBITDA across existing gaming studios. That’s the kind of underlying momentum that acquisitions can accelerate but cannot manufacture.

Bluetile and BestPlay: A Powerful First Two Months

Q2FY27 is the first quarter to include Bluetile and BestPlay, consolidated from 1st August 2026 — and the early numbers from these additions are striking.

In just their first two months as part of Nazara, Bluetile and BestPlay generated ₹329 crore in revenue — up 49% over the same period last year — and ₹64 crore in EBITDA, up 64%, with margins expanding from 17.5% to 19.4%.

Growth was driven by rapid product iteration, expansion into new markets, AI-automated user acquisition and cross-promotion across Nazara’s broader portfolio. Critically, Bluetile’s leadership team holds 5.8% of Nazara — a meaningful alignment of incentives that ensures the founders who built Bluetile are deeply invested in Nazara’s long-term success.

Bluetile & BestPlay: First Two Months at a Glance

The Existing Portfolio Keeps Compounding

While Bluetile and BestPlay generated headlines, Nazara’s existing studios quietly delivered some of the quarter’s most encouraging results.

WildWorks grew revenue 41% and EBITDA 39% on the back of new Animal Jam content, including a Monster High-themed season that resonated strongly with its young audience. Kiddopia grew revenue 21% on a 5% rise in subscribers and an 8% rise in average revenue per user, and is now reinvesting in user acquisition to compound those gains further.

Fusebox launched Traitors and a new Big Brother season, while Love Island: The Game ranked #1 among free role-playing games on the US App Store in July. Curve grew revenue 27% and EBITDA 61%, driven by the launch of Sovereign Tower — rated “Overwhelmingly Positive” on Steam — the mobile debut of Wobbly Life at #3 in its genre, and continued momentum at Human Fall Flat, which has now surpassed 60 million players in its 10th anniversary year.

One Platform, Every Studio: The CoE Advantage

Perhaps the most significant development of Q2FY27 isn’t in the revenue line — it’s in the infrastructure being built beneath it.

Bluetile’s core capabilities now operate as group Centres of Excellence (CoEs) across Marketing, Data, Product and Technology, each led by a dedicated head with AI embedded throughout. The results are already tangible: in a single month, the Marketing CoE produced more than 290 ad creatives for three studios. A single AI-ready data stack powers analytics across the entire group, and all studios share a common prioritisation and greenlight process.

Every new game launch and every future acquisition now plugs straight into this proven system — compounding the platform advantage with each addition.

Leadership Strengthened for the Next Phase

Nazara has significantly upgraded its leadership bench heading into the second half of FY27. Raymond A. Stauffer, Founder of Bluetile and BestPlay, took charge as CEO on 16th September 2026. Mithun Sacheti, Founder of CaratLane, joined as Executive Director on 12th October 2026, subject to shareholder approval. Arun Agarwal, former Global CFO of Ness Digital Engineering, joined as Chief Financial Officer on 16th October 2026.

Together, the three bring global gaming expertise, consumer brand building experience, and institutional financial rigour to a company that is clearly entering a new phase of scale.

Raymond Stauffer captured the quarter’s significance precisely: “This quarter demonstrates the company we are building: a portfolio of high-quality games on a single, shared platform. Every game we launch and every studio we acquire benefits from proven capabilities from the outset, enabling us to scale faster and more profitably.”

FAQs

Q1. What were Nazara Technologies’ Q2FY27 financial results?
Nazara Technologies reported record quarterly revenue of ₹803 crore (up 53% YoY) and EBITDA of ₹120 crore (up 93% YoY) for Q2FY27, the quarter ended 30th September 2026. Profit after tax from continuing operations was ₹35 crore, compared to a loss of ₹34 crore in Q2FY26.

Q2. What is Nazara Technologies?
Nazara Technologies is India’s only publicly listed gaming company, with a portfolio spanning mobile, PC, console and offline gaming. Key properties include Bluetile, Curve Games, Kiddopia, Animal Jam, Fusebox Games, Love Island: The Game, Human Fall Flat and World Cricket Championship, among others.

Q3. What are Bluetile and BestPlay, and how did they perform?
Bluetile and BestPlay are gaming businesses acquired by Nazara, consolidated from 1st August 2026. In their first two months as part of Nazara, they generated ₹329 crore in revenue (up 49%) and ₹64 crore in EBITDA (up 64%), with margins expanding to 19.4%.

Q4. Who is the new CEO of Nazara Technologies?
Raymond A. Stauffer, Founder of Bluetile and BestPlay, took charge as CEO of Nazara Technologies on 16th September 2026.

Q5. What is Nazara’s gaming revenue contribution in Q2FY27?
Gaming contributed 82% of consolidated revenue in Q2FY27, generating ₹656 crore at a 21.5% EBITDA margin — effectively accounting for all EBITDA before corporate costs.

Q6. How did Nazara’s existing gaming studios perform organically in Q2FY27?
Excluding new acquisitions, Nazara’s existing gaming studios delivered organic growth of 11% in revenue and 17% in EBITDA in Q2FY27 — driven by strong content engines across WildWorks, Kiddopia, Fusebox and Curve.

Q7. What is Nazara’s H1FY27 performance?
For the first half of FY27, Nazara reported revenue of ₹1,232 crore (up 20% YoY) and EBITDA of ₹166 crore (up 52% YoY) at a 13.5% margin.

Q8. Where can I find more about Nazara Technologies?
Full details, investor relations and financial reports are available at nazara.com.

Nazara Technologies continues to build one of Asia’s most exciting gaming platforms. Follow official channels and investor updates at nazara.com for the latest on Q3FY27 performance and upcoming game launches.