iWorld
HT Labs inks bold MoU with The Doers Company
MUMBAI: HT Labs, the innovation and product arm of HT Media, is going global. In a high-powered move blending startups, strategy, and smart cities, the company has signed a strategic MoU with The Doers Company, Europe’s leading innovation platform behind flagship events like Reflect Festival and the upcoming Doers Summit.
The deal, signed at Dubai Silicon Oasis (DSO) under the patronage of the Dubai Integrated Economic Zones Authority (DIEZ), sets the stage for a three-nation innovation corridor spanning India, Cyprus, and the UAE—with OTTplay, India’s first AI-powered OTT aggregator, at its core.
What’s on the menu? Access to European innovation networks, cross-border pilots, founder-investor matchmaking, and a high-impact launchpad via Cyprus into Europe and Dubai for media-tech experiments in smart city infrastructure.
The timing is razor-sharp. It follows a wave of diplomatic activity, including Indian Prime Minister Narendra Modi’s visit to Cyprus and a tech-heavy Cypriot delegation’s Dubai mission—featuring chief scientist of Cyprus, Demetris Skourides, who has become a key catalyst in this three-way partnership.
Commenting on the partnership, Skourides remarked,
“I would like to thank Mr. Avinash for his trust in our ecosystem and look forward to further profiling how Cyprus and other investors can benefit from bidirectional value creation. Such collaborations are the foundational pillars that build the future.”
Dubai Silicon Oasis deputy director general Badr Buhannad said,
“Dubai Silicon Oasis was envisioned as a smart, future-ready hub for innovation, talent, and entrepreneurship. Hosting the Doers Summit in partnership with The Doers Company aligns perfectly with Dubai’s Economic Agenda D33 to position the city among the world’s leading digital and economic centres. The Summit reinforces our mission to attract forward-looking ventures and connect European and Middle Eastern innovators—accelerating cross-border collaboration in support of the UAE’s vision for digital economy growth and global competitiveness.”
HT Labs co-founder & CEO Avinash Mudaliar added, “At HT Labs, this isn’t just an expansion—it’s a strategic leap into the future. Dubai Silicon Oasis offers the ideal launchpad to take India’s most disruptive, AI-driven innovations to the world. At the core of our work is TaaS—Technology-as-a-Service—delivering scalable, AI-powered solutions across video, apps, web, and content systems that boost engagement, unlock new revenue, and enable global growth.With our strong focus on intelligent, tech-first solutions, we see immense potential to co-create platforms that resonate globally.
What truly elevates this journey is the camaraderie we’ve built—especially with visionaries like Demetris Skourides, chief scientist of Cyprus. His insights and spirit of collaboration have made him not just a strategic ally, but a trusted friend in our cross-border mission.
With OTTplay leading our media-tech push, we’re excited to align with DSO’s smart city vision and deliver transformative experiences in entertainment and data intelligence. This marks a defining chapter in building globally relevant platforms from India.”
Also speaking on the occasion, The Doers Company & managing partner, zero one hundred, Dusan Duffek said, “With a young, tech-savvy population and a booming innovation ecosystem, Indian startups such as OTTplay etc. offer some of the most exciting investment opportunities globally. Similarly, startups from Europe and the Middle East are now building some of the most consequential technologies, which will have an impact not only regionally, but globally. We believe now is the time to build bridges, not borders, and connect this energy with global capital and strategic partners”.
The Doers Company co-founder & CEO Stylianos Lambrou added, “We see a significant opportunity in India. With our growing presence in Greece, Cyprus, and now Dubai, we’re uniquely positioned to bridge the gap, providing Indian startups & companies with access to Europe, and offering European startups and companies a pathway into India. The strong relationship between my country and India gives us a powerful advantage, enabling us to amplify our impact across both regions.”
With Cyprus positioning itself as a European gateway for Indian tech and Dubai doubling down on its digital infrastructure bets, the deal is more than just a handshake—it’s a multi-regional runway for talent, capital, and innovation to flow freely.
Call it a soft-power play or a smart power shift—either way, HT Labs is now officially in the global game.
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Gaming
Bluestone FY26 revenue rises to Rs 2,436 crore, turns profitable
Q4 profit at Rs 31 crore, full-year profit at Rs 13 crore vs loss last year.
MUMBAI: From sparkle to numbers, Bluestone seems to be polishing more than just jewellery this year. Bluestone Jewellery and Lifestyle Limited reported a sharp turnaround in FY26, with revenue from operations rising to Rs 2,436 crore (Rs 24,364 million), up from Rs 1,770 crore (Rs 17,700 million) in FY25. The company posted a full-year profit of Rs 13 crore (Rs 131.79 million), a significant recovery from a loss of Rs 222 crore (Rs 2,218 million) a year ago.
Total income for the year stood at Rs 2,486 crore (Rs 24,860 million), compared to Rs 1,830 crore (Rs 18,300 million) in the previous year, reflecting both topline growth and improved operational momentum.
The March quarter, however, told a more nuanced story. Revenue from operations came in at Rs 681 crore (Rs 6,814 million), down from Rs 748 crore (Rs 7,486 million) in the year-ago period, though higher than Rs 461 crore (Rs 4,613 million) in the preceding December quarter. Net profit for Q4 stood at Rs 31 crore (Rs 311.81 million), compared to Rs 68 crore (Rs 688 million) a year earlier, but a clear reversal from a loss of Rs 51 crore (Rs 512 million) in Q3.
Margins were shaped by higher input costs, with raw material consumption rising to Rs 2,204 crore (Rs 22,043 million) for the full year, alongside employee benefit expenses of Rs 282 crore (Rs 2,824 million) and finance costs of Rs 210 crore (Rs 2,104 million). Other expenses came in at Rs 371 crore (Rs 3,715 million), slightly lower than Rs 393 crore (Rs 3,938 million) in FY25.
On the balance sheet front, total assets expanded to Rs 4,961 crore (Rs 49,610 million) as of March 31, 2026, from Rs 3,532 crore (Rs 35,322 million) a year earlier, driven largely by a surge in inventories to Rs 2,672 crore (Rs 26,718 million). Equity also strengthened to Rs 1,803 crore (Rs 18,030 million), nearly doubling from Rs 911 crore (Rs 9,107 million).
Cash flows reflected the cost of growth. Net cash used in operating activities stood at Rs 199 crore (Rs 1,990 million), while investing activities saw an outflow of Rs 239 crore (Rs 2,392 million). Financing activities, however, generated Rs 497 crore (Rs 4,971 million), helping the company end the year with cash and cash equivalents of Rs 108 crore (Rs 1,075 million), up from Rs 49 crore (Rs 487 million).
Earnings per share for FY26 came in at Rs 1.10, a sharp improvement from a negative Rs 79.74 in FY25, underlining the shift from losses to profitability.
With revenue scaling up, costs still glittering on the higher side, and profitability finally back in the black, BlueStone’s FY26 performance suggests a business mid-transition less about shine alone, and more about sustaining it.
