Nazara eyes ₹1,000 crore game studio revenue with ₹830 crore acquisition plan
NEW DELHI : Nazara Technologies, India's only publicly-listed gaming company, aims to scale its game development division's annual revenue from approximately ₹350 crore in FY23 to ₹1,000 crore by the end of FY25, by leveraging an ₹850 crore fund allocated for mergers and acquisitions. As part of its acquisition strategy, Nazara's game development and publishing arm will target both Indian and global gaming platforms, and increase its contribution to the group's overall revenue, Nitish Mittersain, chief executive, said in an interview. “In India, we’ll look at developers with early-stage IP, while for global firms, we’ll look at developers with more scaled-up IP, strong profitability and cash flow.
Our idea is to acquire companies with established gaming IP, and then scale it up. We’ve identified many opportunities, and are meeting companies actively to see acquisition opportunities." While the company's events subsidiary, Nodwin, will continue to be a significant revenue generator, the focus will be to strengthen the gaming vertical, he added. “Nodwin will continue to be a significant contributor to our revenue, but our game studio business will grow most significantly.
As of last fiscal, it was around ₹350 crore in revenue. We plan to scale it up to ₹1,000 crore." In FY23, Nazara group companies crossed the ₹1,000-crore revenue milestone for the first time to reach ₹1,091 crore, up 21% from a year ago. Esports, which operates under Nodwin, contributed 50% to its annual revenue, while gaming, accounted for 37%.
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