Gaming
Reliance teams up with Blast to storm India’s booming esports arena
MUMBAI: Reliance Industries’ wholly-owned subsidiary Rise Worldwide has joined forces with European esports powerhouse Blast to form a joint venture that aims to revolutionise India’s nascent but rapidly expanding competitive gaming landscape.
The partnership will leverage Blast’s tournament expertise and publisher relationships to bring global esports properties to Indian shores while developing bespoke competitions for the local market—a digital playground that already boasts a staggering 600 million gamers, representing 18 per cent of the world’s button-bashers.
India’s gaming market, currently valued at $3.8bn, is projected to rocket to $9.2bn by 2029, growing at a blistering 19 per cent annually. Meanwhile, the global esports market is expected to surge from $2.8bn to $16.7bn by 2033, suggesting there are digital gold mines yet to be excavated.
“India is one of the most exciting and fastest-growing gaming markets in the world,” said Blast chief executive Robbie Douek, whose company currently works with gaming titans including Epic Games, Valve, Riot Games, Krafton and Ubisoft across popular titles with a combined monthly player base exceeding 350 million.
The new venture will capitalise on Blast’s production prowess and intellectual property portfolio while tapping into Jio’s technological muscle and distribution network via the JioGames platform. Services will span tournament management, targeted marketing, production and broadcasting—essentially creating a full-service esports juggernaut.
“With this partnership, Indian esports will be able to realise its full potential,” said Reliance Sports head Devang Bhimjyani.
The timing appears impeccable, as the Indian government recently granted official recognition to esports by declaring it part of the “multi-sports event” category, providing legitimacy to a pursuit once dismissed as mere child’s play.
Blast, known for producing tournaments that fill arenas and generate billions of views across 150+ territories, will now bring its show-stopping production values to a country where cricket has traditionally dominated sporting consciousness. With planned arena stops in global cities like London, Singapore, Austin and Rio in 2025, the addition of Indian venues seems a natural next step in the company’s expansion strategy.
For India’s growing army of competitive gamers, the partnership offers tantalising prospects: international exposure, improved tournament infrastructure, and potentially, a shot at the multi-million dollar prize pools that have transformed gaming nerds into millionaire celebrities elsewhere in the world.
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.
