Gaming
IICT signs three MoUs to boost AVGC-XR and esports
Partnerships with Zenfluencers, Yologram and Eruditio at Chennai Gaming Show 2026 strengthen education, XR innovation and nationwide talent outreach.
MUMBAI: IICT has just levelled up the game in a big way. The Indian Institute of Creative Technologies signed three strategic Memorandums of Understanding on 17 April 2026 at the CII Summit FX – India Gaming Show in Chennai, forging alliances with The Zenfluencers, Yologram Style Pvt. Ltd. and Eruditio Consultants to accelerate India’s AVGC-XR ecosystem.
The tie-ups combine IICT’s strengths in education, skilling and research with specialist expertise across esports, immersive technologies and large-scale outreach.
- With The Zenfluencers, IICT will roll out globally benchmarked esports programmes, including joint certification courses, industry workshops, tournaments and masterclasses, creating clear career pathways across the full esports value chain.
- The partnership with Yologram Style Pvt. Ltd. focuses on gaming, immersive storytelling and extended reality (XR), delivering industry-aligned curriculum, faculty mentorship, student showcases and collaborative research in immersive AI and virtual production.
- Collaboration with Eruditio Consultants targets awareness, accessibility and career alignment, with nationwide counsellor training, institutional engagement and structured guidance frameworks to reach students beyond Tier-1 cities.
IICT CEO Vishwas Deoskar said, “As the AVGC-XR sector evolves at a rapid pace, strong collaborations between industry and academia are essential. These partnerships will create meaningful impact across education, innovation and outreach.”
Yologram Style Pvt. Ltd. founder Aditya Mani added, “AI-driven creator worlds are transforming games into engines of culture, commerce and careers. Together we aim to empower a generation to build immersive futures.”
Eruditio Consultants founder Indrajit Ghosh noted, “This is not just about awareness, it is about building a structured ecosystem that connects aspiration with opportunity.”
The Zenfluencers CEO Atharva Gupta said, “This MoU is a big unlock moment for the esports ecosystem in India. We’re building a structured pipeline for talent across the full stack.”
By bringing together academia, industry leaders and ecosystem players, IICT is creating scalable models that blend cutting-edge skills with real-world relevance. In a sector racing toward the future, these three partnerships ensure India’s next generation of creative technologists won’t just keep up, they’ll set the pace.
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.
