India’s only listed gaming company delivers! Nazara Technologies reports strong Q3FY26 results with EBITDA margins expanding to 16.7% while investing in nCore Games (FAU-G) and Rusk Media.
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Profit-Led Growth Strategy Pays Off
Nazara Technologies announced Q3FY26 results on February 3, 2026, showing revenue of ₹406 crores with EBITDA reaching ₹67.8 crores—up 29.4% year-over-year. EBITDA margins expanded to 16.7%, demonstrating improving operational efficiency.
Nazara Q3FY26 & 9MFY26 Financial Highlights
| Metric | Q3FY26 | 9MFY26 | YoY Growth |
|---|---|---|---|
| Revenue | ₹406 crores | ₹1,431.2 crores | 29.7% (9M) |
| EBITDA | ₹67.8 crores | ₹177.2 crores | 29.4% (Q3), 73% (9M) |
| EBITDA Margin | 16.7% | 12.4% | Expanding |
| Focus Areas | Kiddopia growth, IP expansion | Multiple engines | Scalable execution |
Kiddopia’s Turnaround Story
The educational gaming app achieved resumed subscriber growth after implementing Nazara’s Centres of Excellence in User Acquisition, Data Analytics, Growth, and Product. This marks a significant milestone after recent challenges, validating the company’s operational platform approach.
Simultaneously, Nazara expanded its IP footprint with Animal Jam on Roblox, unlocking platform-led growth opportunities beyond proprietary apps.
Strategic Investments in Indian Gaming
The board approved investment in nCore Games, developers of the “made in India” franchise FAU-G (Fearless and United Guards)—a tactical shooter game that garnered significant attention as an Indian alternative in the mobile gaming space.
Additionally, Nazara is infusing up to ₹15 crores primary capital into Rusk Media, a mobile-first IP-led entertainment platform targeting Gen-Z and Gen-A audiences. These moves underscore Nazara’s commitment to supporting India’s gaming ecosystem beyond its own portfolio.
NODWIN Gaming Delivers Strong Performance
Nazara’s associate company NODWIN Gaming delivered robust operational performance and profitability this quarter, contributing to the overall strong results. NODWIN operates esports tournaments and gaming content businesses across multiple markets.
Multiple Growth Engines Firing
CEO Nitish Mittersain highlighted disciplined execution across new launches, live content expansion, and platform extensions. The company remains focused on strategic acquisitions where Nazara’s operating platform can accelerate scale, improve unit economics, and drive long-term value.
Diverse Portfolio Powers Growth
Nazara Technologies operates a diversified gaming platform including Curve Games, Kiddopia, Animal Jam, Fusebox Games (Love Island, Big Brother, Bigg Boss), World Cricket Championship, and Sportskeeda. Offline gaming businesses like Funky Monkeys and Smaaash Entertainment, plus digital ad tech platform Datawrkz, round out the portfolio.
As India’s only publicly listed gaming company with presence across India, North America, and global markets, Nazara’s Q3 performance demonstrates the strength of its multi-platform, IP-focused strategy. For updates on Indian gaming companies, follow Technosports and check our gaming industry coverage.
FAQs
What caused Kiddopia’s subscriber growth to resume after previous challenges?
Implementation of Nazara’s Centres of Excellence in User Acquisition, Data Analytics, Growth, and Product drove the turnaround.
Is FAU-G still active, and why is Nazara investing now?
Yes, FAU-G remains active as a made-in-India gaming franchise; Nazara’s investment brings operational expertise to scale the IP.
