Nazara Q2 FY27 Results: Key Numbers Before October 27

Results discussion is scheduled for October 27

Nazara Technologies Limited has scheduled an earnings call with analysts and investors for October 27, 2026, at 12:00 noon IST. The call will cover unaudited financial results for the quarter and half-year ended September 30, 2026, referred to as Q2 FY27 and H1 FY27. The company said the call will be led by Chief Executive Officer Raymond Stauffer, Executive Director Mithun Sacheti, Chief Financial Officer Arun Agarwal, and Head of Corporate Development Anupriya Sinha Das. The announcement was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations. A separate earnings-calendar entry in the supplied information lists an October 26, 2026 earnings release date. The October 27 call is the confirmed date stated in Nazara's earnings-call notice.

Estimates point to higher earnings expectations

The consensus outlook included in the available data shows an increase in the FY27 earnings-per-share estimate to ₹5.05 from ₹4.08. The revenue forecast was described as steady at ₹3,530 crore. The consensus price target was broadly unchanged at ₹295. The forecast also indicates net income growth of 137% for the next year, compared with a 16% growth forecast for India's entertainment industry. These figures are consensus estimates rather than company guidance. They provide a benchmark against which investors may assess the reported Q2 FY27 numbers and management commentary.

Quarterly and annual consensus figures

The supplied estimates show average revenue of ₹739.1 crore for the quarter ended September 30, 2026. For the quarter ending December 31, 2026, the average estimate is ₹885.6 crore. The estimate rises to ₹1,094.5 crore for the quarter ending March 31, 2027. Average revenue estimates for the years ending March 31, 2027 and March 31, 2028 are ₹3,351.6 crore and ₹4,358 crore, respectively. Average earnings-per-share estimates are ₹0.833 for the September quarter, ₹2.10 for the December quarter, and ₹2.40 for the March quarter. The annual estimates are ₹3.125 for FY27 and ₹6.888 for FY28.

Bluetile and BestPlay transaction remains central

Nazara's Q1 FY27 investor presentation said its board approved an amended structure to acquire 100% of Bluetile and BestPlay. The fixed all-cash consideration is US$303 million. The businesses reported revenue of ₹518 crore and EBITDA of ₹55 crore in Q1 FY27. Nazara said the businesses were expected to be consolidated from Q2 FY27, subject to closing and regulatory approval. The company described the acquisition as adding casual-gaming intellectual property, AI-native development capabilities, and a rewarded engagement network. Whether the transaction has closed and been consolidated will be an important point for the October 27 discussion.

Acquisition scale versus Nazara's reported base

The ₹518 crore revenue reported by Bluetile and BestPlay in Q1 FY27 was described in the supplied material as about 120% of Nazara's Q1 FY27 revenue. This illustrates the potential scale of the businesses relative to Nazara's existing quarterly base. Nazara also said the two companies generated ₹55 crore of EBITDA in Q1 FY27. In its earlier FY26 presentation, Nazara cited calendar-year 2025 revenue of ₹1,405 crore and EBITDA of ₹254 crore for Bluetile and BestPlay. Those historical figures are not a forecast or a pro forma financial statement. They do, however, explain why transaction completion and consolidation are material to FY27 revenue and EBITDA comparisons.

FY26 performance set the starting point

Nazara described FY26 as a pivotal year in its May 2026 investor presentation. The company reported its highest-ever EBITDA of ₹255 crore, up 66% year on year. It said Q4 FY26 EBITDA margin reached 19.5%. Pre-tax operating cash flow rose 81% year on year to ₹213 crore. EBITDA-to-operating-cash-flow conversion improved to 84%, according to the presentation. These figures provide the financial base from which management is pursuing a larger global gaming operating platform in FY27.

Management's EBITDA guidance will be monitored

Management had reiterated a FY27 EBITDA guidance of ₹300 crore in May, according to the information provided. The Q2 FY27 release and call will be relevant for evaluating progress toward that figure. The planned consolidation of Bluetile and BestPlay is a major factor because the acquired businesses add revenue and EBITDA scale. At the same time, the available material notes that near-term profit depends on integrating the casual-gaming acquisition. Nazara has not provided a pro forma FY27 forecast in the supplied disclosures. Investors will therefore need to distinguish reported performance, consensus estimates, and illustrative acquisition arithmetic.

What participants can look for on the call

The October 27 call gives shareholders and analysts an opportunity to hear management discuss quarterly performance and future outlook. Key items include the unaudited Q2 FY27 and H1 FY27 financial results, the status of regulatory approvals, and the consolidation timetable for Bluetile and BestPlay. Management commentary on the ₹300 crore FY27 EBITDA guidance will also be closely relevant. The consensus data show a higher EPS outlook while revenue expectations remain broadly steady at ₹3,530 crore. Nazara, founded by Vikash Mittersain and Nitish Mittersain in 1999, is headquartered in Mumbai. The company is scheduled to provide its Q2 FY27 update and hold the analyst call on October 27, 2026.