Gaming
Level up: Banijay Asia and Nodwin Gaming partner to power up India’s youthverse
MUMBAI: In a match made in gamer heaven, Banijay Asia and Nodwin Gaming have teamed up to turbocharge India’s youth entertainment and gaming landscape. The two powerhouses have inked a strategic partnership that will see Banijay Asia take the reins of Playground — Nodwin’s flagship gaming reality show — and co-create a slew of fresh, disruptive content across gaming, esports, and influencer-led formats.
With gaming now a full-blown lifestyle, this collaboration aims to tap into India’s ever-evolving Gen Z mindspace by fusing Banijay’s storytelling muscle with Nodwin’s pulse on the gaming community. And they’re not stopping at one franchise — the duo plans to unleash an entire ecosystem of new scripted and reality IPs.
“This collaboration with Nodwin Gaming is an exciting extension of our vision to create content that resonates with evolving youth audiences. Gaming is not just a sport; it’s a culture, a lifestyle, and a massive content opportunity. With Playground and our upcoming IPs, we aim to redefine engagement and storytelling in this space. I look forward to the creative collaboration with Akshat Rathee, and Joost Roset who we previously worked with, in bringing iconic global IPs to India. This is an invaluable opportunity to create clutter-breaking formats in the youth and gaming space,” said Banijay Asia & Endemol Shine India founder & group CEO Deepak Dhar.
Nodwin Gaming co-founder & managing director Akshat Rathee added, “”Youth entertainment is evolving rapidly, and our partnership with Banijay Asia positions us perfectly to lead that change. With Playground, we’ve just begun to explore what’s possible. Backed by Banijay’s global expertise, we’re now set to scale the IP across multiple languages and markets, with the ambition of building an international format. At the heart of our approach is our philosophy of ‘timeshare of mindshare.’ We’re not just creating content, we’re creating cultural moments. This is just the beginning of a bold new chapter in gaming and youth content.”
The Rusk Media creative team — original minds behind Playground — will stay involved as the format evolves from a single show into an annual line-up of five to 10 marquee IPs. Expect more drama, more battles, and more screen time as the series expands.
Backed by its success with Comic Con India, BGMI Masters Series, and NH7 Weekender, Nodwin Gaming is already a big player in the youth space. Now with Banijay — whose global playbook includes brands like MasterChef, Peaky Blinders, and Black Mirror — the stage is set for a full-blown format revolution in Indian gaming content.
From stream to scream, it’s into the playground for the two. At least for now!
(Deepak Dhar – left – and Akshat Rathee -right- pictured above. source: Banijay Asia)
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.
