What Nazara Technologies does

Nazara Technologies Limited (NSE: NAZARA) is India's only publicly listed gaming company, founded in 1999 in Mumbai and listed on Indian stock exchanges on March 30, 2021. The company operates a diversified, acquisition-led portfolio of mobile games spanning kids (Kiddopia, Animal Jam), sports (World Cricket Championship), casual/strategy (CATS: Crash Arena Turbo Stars, King of Thieves), interactive narrative (Love Island: The Game, Big Brother: The Game), and physical family entertainment (Smaaash, Funky Monkeys), alongside publishing infrastructure for third-party studios under the "Friends of Nazara" umbrella. Approximately 70-80% of revenue is generated internationally, with operating entities in the UK, UAE (Dubai Media City), Singapore, Spain, and Turkey/MENA.

The company's underlying technology stack combines proprietary IP and AI-integrated game development workflows acquired through the 2026 Bluetile Games/BestPlay acquisition, whose ~30-40 person team reportedly produces ~Rs 40 crore per-head revenue. The combined Bluetile portfolio represents 375 million cumulative downloads and 22 million monthly active users. Supporting capabilities include the 55%-owned programmatic adtech subsidiary Datawrkz and the LVL Zero gaming incubator (launched April 2026 with MIXI Global Investments and Chimera VC). The company also operates ad-funded publishing infrastructure for external studios.

Nazara generates revenue primarily through freemium mobile games (in-app purchases and subscriptions) distributed via Apple App Store and Google Play, supplemented by advertising (Datawrkz), physical entertainment center revenue (Smaaash, Funky Monkeys), and corporate publishing arrangements. Following India's Promotion and Regulation of Online Gaming Act 2025 (PROGA) and the Supreme Court upholding the 28% GST on online gaming, Nazara has deconsolidated NODWIN Gaming and is divesting non-core businesses (Sportskeeda, adtech) to refocus as an AI-enabled casual/social gaming platform. The company reported FY26 total income of Rs 3,072.56 crore with Rs 67.02 crore in profit, and has raised over Rs 1.2 billion in fresh capital in 2025-2026 (Axana Estates Rs 495 crore, SBI Mutual Fund Rs 220 crore, Rs 500 crore warrant issue) to fund the Rs 918 crore Bluetile/BestPlay transaction expected to more than double FY27 revenue and EBITDA.

Name

Nazara Technologies

Legal name

Nazara Technologies Limited

Website

https://nazara.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

Nazara Technologies is India's only publicly listed gaming company (NSE: NAZARA), operating a diversified portfolio of mobile games across kids, sports, casual, and narrative genres, with 70-80% international revenue and AI-enabled development capabilities acquired via Bluetile.

Ownership category

akta.pro rank

Product category

Mobile Gaming

NAICS

Software Publishers (5132), Software Publishers (51321)

SIC

Services-Miscellaneous Amusement & Recreation (7990), Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Mobile Game Publishing & App Game Stores (BPAMAKAB)

Keywords

• Mobile gaming
• Casual games
• Interactive entertainment
• Kids games
• Game publishing

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Gaming Revenue (Freemium/In-app Purchases): Nazara's portfolio of freemium games including Kiddopia, Animal Jam, Love Island, World Cricket Championship generate revenue through in-app purchases and virtual items. The gaming segment has grown to represent approximately 90% of FY26 EBITDA, with gaming revenue rising 78% to Rs 278 crore in Q4 FY26.
2. Publishing Infrastructure Services: Nazara provides publishing services to third-party studios and creators, offering strong publishing infrastructure, marketing expertise, and community-first approach for mobile titles across casual to cross-platform games.
3. Gaming Ad Tech (Datawrkz): Nazara's 55% stake in Datawrkz, a programmatic advertising company, enables gaming ad tech offerings globally, focusing on optimizing customer acquisition and ad monetization.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Nazara Technologies develops, publishes, and distributes a diversified portfolio of mobile games and interactive entertainment products spanning sports (World Cricket Championship), kids learning (Kiddopia, Animal Jam), interactive storytelling (Love Island: The Game, Big Brother: The Game), arcade/strategy (CATS, King of Thieves), and physical family entertainment (Smaaash, Funky Monkeys). The company operates a freemium monetization model with in-app purchases and subscriptions, distributing games globally through mobile app stores while also providing publishing infrastructure and AI-enabled development support to third-party gaming studios.

Product overview

Nazara Technologies is India's only listed gaming company operating a diversified portfolio of gaming products and services spanning multiple categories. The core offerings include mobile games across sports (World Cricket Championship), kids entertainment (Kiddopia, Animal Jam), interactive storytelling (Love Island: The Game, Big Brother: The Game), and arcade/strategy games (CATS: Crash Arena Turbo Stars, King of Thieves). The company also operates experiential entertainment through Smaaash (physical gaming centers) and Funky Monkeys (indoor play centers). Nazara's platform strategy includes publishing infrastructure for third-party studios, the LVL Zero gaming incubator, and adtech capabilities through Datawrkz. Recent strategic acquisitions include Spain-based Bluetile Games and BestPlay (AI-enabled casual gaming), UK-based Fusebox Games (story games), and stakes in esports company NODWIN Gaming and sports media platform Sportskeeda. The company derives 70-80% of revenue from international markets.

Differentiator

Problem solved

Functional benefit

Brands

• Kiddopia: Interactive learning universe for young children featuring engaging videos, fun facts, and playful visuals covering animals, science, culture, and language.
• Animal Jam
• Love Island: The Game
• Big Brother: The Game
• World Cricket Championship (WCC)
• CATS: Crash Arena Turbo Stars
• King of Thieves (KoT)
• Smaaash
• Funky Monkeys
• Friends of Nazara

Products and services

• Kiddopia Interactive learning universe for young children featuring engaging videos, fun facts, and playful visuals covering animals, science, culture, and language. Safe and educational entertainment platform.
• Animal Jam World's leading social playground where kids explore nature, express creativity, and learn about wildlife within a safe and educational digital world.
• Love Island: The Game Interactive narrative experience where players shape their own reality show romance through choices affecting friendships, flirtations, and outcomes.
• Big Brother: The Game Reality competition game where players form alliances, navigate evictions, and compete in a social battleground with strategy, popularity, and timing elements.
• World Cricket Championship (WCC) Mobile cricket franchise featuring lifelike gameplay, AI-powered opponents, and real-time multiplayer modes serving millions of cricket fans globally.
• CATS: Crash Arena Turbo Stars Creative arcade game where players design war machines, arm them, and battle players worldwide.
• King of Thieves (KoT) Strategy game where players build tricky dungeons, dodge deadly traps, and execute heists.
• Smaaash India's leading experiential gaming and family entertainment platform offering sports simulations, VR, arcade games, music and dining experiences across physical centers.
• Funky Monkeys Indoor soft play and entertainment center chain for children aged 2-14 years, operating 15 centers across Tier 1 and Tier 2 Indian cities offering safe, climate-controlled play environments.
• Bluetile Games (Yatzy, Domino Legends, Mahjong Voyage, Spade Stars) Spain-based gaming studio operating casual and social mobile games portfolio including Yatzy, Domino Legends, Mahjong Voyage, and Spade Stars with AI-integrated development workflows.
• BestPlay Systems Rewards-driven engagement and cross-promotion platform for casual gaming users, providing AI-native capabilities for player engagement and data-driven live operations.
• LVL Zero Gaming Incubator India's first gaming incubator backed by Nazara Technologies, MIXI Global Investments, and Chimera VC, offering 100-day equity-free programs with $10,000 grants to gaming startups. Ecosystem partners include Google Play, ID@Xbox, and AppsFlyer.
• Datawrkz Ad Tech Programmatic advertising platform offering gaming ad tech services globally, focusing on customer acquisition and ad monetization optimization.

Quantifiable outcome

• Gaming segment grew to 90% of FY26 EBITDA (up from 56%)
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Google PlaycoreTechnology or Integration · 21 April 2026Google Play is an operational partner in LVL Zero incubator, providing hands-on support across attribution, analytics, and monetization for gaming startups.
• ID@XboxcoreTechnology or Integration · 21 April 2026ID@Xbox Developer Acceleration Program is an operational partner in LVL Zero incubator, providing console publishing support for gaming startups.
• Absolute SportsminorStrategic or Co-development Partner · 18 September 2024Nazara acquired additional 19.35% stake in Absolute Sports for Rs 145.5 crore, increasing ownership to 91%, consolidating leadership in the sports media sector.
• Fusebox GamescoreStrategic or Co-development Partner · 23 August 2024Nazara acquired UK-based Fusebox Games for approximately £21.18 million (INR 234.55 crore). Fusebox develops IP-based story games including Love Island: The Game and operates as a Nazara studio.
• DatawrkzminorStrategic or Co-development Partner · 18 January 2022Nazara acquired 55% stake in Datawrkz, a programmatic advertising company, valued around Rs 225 crore ($30 million). Deal split into two tranches with initial 33% for ₹60 crore and option for additional 22%.
• PublishmeminorStrategic or Co-development Partner · 17 June 2021Nazara acquired 69.82% stake in Publishme, a mobile game publisher in the Middle East and Turkey, for approximately INR 20 crore. This marked Nazara's first foray into international markets and expanded its 'Friends of Nazara' group.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Miniclip: Switzerland-based mobile and online game publisher/developer with massive casual game portfolio (8 Ball Pool, Agar.io); closest Western comparable to Bluetile's casual/social mobile portfolio in scale and genre.
• MPL (Mobile Premier League): India-headquartered mobile gaming and esports platform with a similar mobile-first, freemium model and direct competition in the casual/competitive mobile gaming segment where Nazara operates.
• Games24x7: Mumbai-based online gaming company operating skill and casual gaming titles (including fantasy and rummy historically); the closest India-listed comparable in the casual/mobile gaming category.
• Junglee Games: India-based skill-gaming and casual mobile gaming operator directly competing in the Indian market, particularly in fantasy and card-game verticals where Nazara's OpenPlay operated pre-PROGA.
• Dream Sports (Dream11): India's largest fantasy sports platform; peer through the sports-gaming vertical (Nazara's World Cricket Championship) and overlapping Indian mobile-gaming audience, despite the post-PROGA fantasy ban context.

Broad incumbents

• Playtika: Global free-to-play mobile gaming incumbent with strong live-ops and ad-tech capabilities; comparable business model (F2P + IAP + ads) at much larger scale than Nazara.
• Sea Limited (Garena): Singapore-listed gaming/entertainment/e-commerce conglomerate whose Garena unit is a global mobile game publisher; aligned with Nazara's mobile-publisher playbook and emerging-markets focus (Singapore, SEA).
• Zynga: US mobile/social-casual gaming publisher (now under Take-Two); comparable F2P mobile gaming IP-driven model with global distribution like Nazara's Kiddopia, Animal Jam, and WCC.
• Stillfront Group: Global mobile and strategy gaming publisher with multiple studios; comparable multi-studio holding structure and franchise-portfolio approach to Nazara's acquired-studio ecosystem.
• King Digital Entertainment: Mobile casual gaming incumbent (Candy Crush) under Activision Blizzard; comparable F2P mobile-games publishing infrastructure and global distribution resembling Nazara's franchised approach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nazaratech
• YouTubeyoutube.com/user/NazaraGames
• Facebookfacebook.com/nazaragames
• LinkedInlinkedin.com/company/nazara-technologies
• Instagraminstagram.com/nazaragames

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries12 records

Funding overview

Funding rounds19 records

Investors22 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A17 records

Investments32 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nazara Technologies