Months after reporting a Rs 914 crore impairment hit on Moonshine Technology in Q2FY26, following the Centre’s ban on real money gaming (RMG), Nazara Technologies, the parent company of PokerBaazi, is repositioning itself as an AI-driven global gaming company.
The company reported Q4 FY26 total income of Rs 448.47 crore and a profit of Rs 55.70 crore. For the full year, Nazara reported total income of Rs 3,072.56 crore and profit of Rs 67.02 crore.
AI becomes central to Nazara’s operating model: Chief executive officer (CEO) Nitish Mittersain said the company’s “center of excellence playbook” now drives performance across “user acquisition, data analytics, artificial intelligence, growth and product”.
“Across the studios that we operate, across the different functions of gaming, whether it’s the development process, how we do user acquisition, how we analyze data, how we engage with the user, right? We’re seeing a lot of uptake,” he added.
Nazara also tied AI directly to profitability and margin expansion. Mittersain argued that AI systems could help the company generate more content for existing audiences while maintaining similar cost structures.
“One, of course, is AI and how we are leveraging AI to deliver more content to our existing user bases while maintaining the same cost,” he said later in the call while discussing future margins.
Bluetile acquisition adds AI-native capabilities: The company described Bluetile as an “AI-native” gaming operation whose systems could eventually be rolled out across Nazara’s wider portfolio.
Bluetile CEO Raymond Stauffer said the company already uses AI across “creative marketing to marketing operations, product development, technical development, ad monetization, data segmentation”.
“We’re starting to apply AI in different capacities, both through LLMs, but also through different complex algorithms such as reinforcement learning and other types of AI,” Stauffer said.
Nazara executives said the acquisition significantly strengthens the company’s AI capabilities while also expanding its presence in casual evergreen gaming, including puzzle, board and hybrid-casual titles. Stauffer pointed to billion-dollar gaming companies such as Tripledot and Easybrain while discussing the market opportunity in globally scalable casual games.
NODWIN outlines fundraising and IPO plans: Nazara’s esports subsidiary NODWIN Gaming used the call to discuss new fundraising and public listing plans. Akshat Rathee, co-founder and Managing Director of NODWIN, said the company was looking to raise between $100 million and $200 million through a mix of primary and secondary transactions while simultaneously preparing for a stock market listing.
“NODWIN is looking both to raise funds between $100 million to $200 million independently and this will be a mixture of primary and secondaries and then also prepare for an IPO as soon as possible,” Rathee said.
Nazara signals possible divestments as focus narrows: Mittersain said the company could eventually divest businesses, including NODWIN, Sportskeeda, and its adtech operations, to recycle capital into gaming.
“From a Nazara perspective, we will look at potentially monetising non-core businesses for us. This could be NODWIN, it could be Sportskeeda, it could be the adtech business in due course,” he said. “We definitely see the potential to unlock value and redeploy in our core gaming business,” he added.
Later in the call, Mittersain suggested the company could actively pursue this strategy over the next two financial years. “I would imagine that we will try and have some actions happen in FY ’27 and FY ’28 to achieve this goal,” he said.
Gaming becomes Nazara’s defining business segment: Nazara repeatedly emphasised that it now sees itself primarily as a global gaming platform built around intellectual property (IP), publishing infrastructure and cross-platform monetisation. Mittersain said the “shape of Nazara has fundamentally changed” during FY26, with gaming contributing 90% of EBITDA, compared to 56% a year earlier.
The company also highlighted upcoming launches across Fusebox, Curve Games, WildWorks, and Kiddopia, including new seasons of Love Island, Big Brother, and Bigg Boss; a planned Traitors launch, new PC-console titles; Roblox expansion for Animal Jam; and fresh hyper-casual games.
Mittersain also indicated that Nazara could pursue larger acquisitions going forward. “You will also see a step change in terms of how we look to scale up the overall Nazara business and platform through potentially larger acquisitions as well as focus on larger margin expansion,” he said.
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