• Growth and margins: The company targets 15% to 20% organic growth in FY27, with the BlueTile Games acquisition expected to potentially double both revenue and EBITDA. Core gaming EBITDA margins are projected to expand from 19.5% in Q4 to 25% by the end of FY27, aided by AI-driven efficiencies.
• BlueTile acquisition synergies: Target company BlueTile generated INR 1,450 crore in revenue and INR 250 crore in EBITDA in the prior year with a 50-person team using AI. Its sister reward-based discovery platform, BestPlay, will be utilized to cross-promote Nazara's existing 40-plus gaming IPs.
• Offline gaming expansion: Nazara plans to roll out the revamped Smaaash 2.0 format later this year and scale from 11 centers to 40–50 centers over three years, with meaningful financial impact expected in FY28. Meanwhile, its other offline IP, Funky Monkeys, doubled its footprint from 10 to 20 stores within a year.
• Nodwin IPO timeline: Nazara is exploring ways to monetize non-core businesses like Nodwin and Sportskeeda to redeploy capital into core gaming, with Nodwin evaluating a potential IPO in FY28. Management noted no immediate new acquisitions are planned for FY27.