Gaming
Mobile games are the next big advertising frontier: GreedyGame’s Arpit Jain
NEW DELHI: Digital entertainment formats have become hugely popular across India, with the Covid2019 pandemic further accelerating the shift to online modes of pleasurable pastime. One of the prime beneficiaries has been the mobile gaming ecosystem. It is already amongst the top five globally and as per Statista, will be worth about $2.4 billion in 2020, up from $600 million in 2017. However, despite the marvellous growth it has been witnessing, there is still a lot of grey-space to be filled when it comes to advertising revenues. That’s where GreedyGame comes into the picture. Headquartered in Bengaluru, GreedyGame is a mobile-first native ads platform that helps app and game publishers monetise better and help acquire genuine users globally.
Founded by IIT Ropar alumnus Arpit Jain in October 2013, GreedyGame is solving the fundamental problem for mobile publishers and advertisers – how to run ads without disrupting the user experience.
With the backing of renowned investor institutions such as Times Internet and angel investors including Ankit Nagori from Curefit, Sujeet Kumar from Udaan, Ravi Garikipati from Davinta, Anuj Choudhary from Aalgro, etc, GreedyGame has been growing 100 per cent YoY since its inception in 2013, and has reportedly clocked more than 4X in this FY. It is currently helping more than 200 app/game publishers to monetise higher and acquire quality users across the globe, including Dream11.
Jain tells Indiantelevision.com, “We started GreedyGame with a mission to empower mobile developers to develop world-changing apps and build the most engaging games without constantly worrying about revenue. Hence, we created an end-to-end implementation, mediation and optimisation platform for ads.”
With its unique software development kit (SDK), GreedyGame enables app developers to run native ad units customised for their app experiences. It also helps app and game publishers increase their users globally by helping them with the right user acquisition strategies and optimising their campaigns on multiple mediums including Google and Facebook ads.
“Our strategy is simple, to first study the app in order to understand better and come up with an app-specific monetisation strategy. GreedyGame SDK, which is enabled with the ‘smart refresh’ feature, picks the best model for app monetisation customising to the developer’s needs. Our AI-enabled recommendation of dynamic ad unit templates also helps publishers of all sizes to implement native ads effortlessly. The cross-format support enables developers to try a variety of ad formats like banner, interstitial and native in single ad space and modify the ad format as they like. We help publishers implement native ads in their apps in a hassle-free manner, making sure that their revenues are optimised, without any policy violations, and also keeping the users happy,” he elaborates.
GreedyGame also has a dedicated team of marketers who run Google, Facebook, and other media campaigns for app publishers. “Currently, we are managing 50+ publishers Google Ad accounts. We are able to generate approximately three million+ installs at an optimum CPI,” he adds.
Jain notes that the Covid2019 pandemic has further created a flourishing environment for online and mobile gaming ecosystem and that has pushed more and more brands to utilise the space for advertising.
“Online gaming, primarily on mobile devices, has become massively popular in India. 50 per cent of mobile app users play games, second only to social media and communications apps in terms of time spent. During the months of lockdown, people spent significantly more time on their phones and there was a surge in the downloads of popular games such as Ludo King, PUBG, etc. If we look at the data, taking an example of IPL-related gaming apps, 88 per cent of audience profiles were playing on these apps during the recent IPL season. So, when the user base is that huge it definitely is something that lures the advertisers. Brands have started working on independent budgets for capturing gaming users and big brands like Oppo, Flipkart, Amazon are increasingly opting for mobile advertising considering the reach,” he shares.
Jain illustrates this with an example: streaming giant Netflix recently claimed that Fortnite, a popular multiplayer shooter game, is a bigger competitor than rival streaming platforms like HBO in the US. “Big brands like Cadbury, Tesco, Heineken, Flipkart, Amazon etc believe that it is easy and the ROI in gaming ads is higher. Brands like Unilever, Coca-Cola, and Ford invest heavily in mobile gaming, and many of the early-adopting brands look at mobile gaming as the new social media in terms of the opportunity to engage with consumers at scale. Molson Coors is another example of a brand advertiser that has been ramping its media investment in gaming and e-sports for many of its most popular brands like Miller Lite and Coors Lite.”
Today, ads are a major source of revenue for game publishers as only 0.25 per cent of total users pay for IAPs (In-App Purchases) in India, remarks Jain. “Rewarded ads are the biggest ad revenue-generating format in games. India is among the lowest eCPM (effective cost per thousand impressions) countries in the world, so LTVs are very low. Hence, the user base needs to be high to make sustainable revenues from ads and games need to generate organic traffic. Most successful games are localised – for example Ludo, cricket, card games etc – which is why they get organic traffic and are able to generate sustainable revenues.”
He believes that there await a plethora of opportunities in the in-game advertising industry and he is willing to capitalise on that, helping the publishers and advertisers alike to generate maximum ROI.
“GreedyGame intends to work with app/game publishers who are making money via ads and maximise their revenue through our SDK. Our plan is to become the market leader in the genre of mobile-first advertising through native ad formats. We aim to work with 1000+ publishers by the end of next year,” he signs off.
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.
