The results

Bengaluru-based Gameberry Labs reported a 20% rise in operating revenue to ₹711 crore in FY26 from ₹591 crore in FY25, alongside a 17% rise in net profit to ₹129 crore from ₹110 crore, according to consolidated financial statements sourced from the Registrar of Companies and reported on October 20, 2026.

For startup funding in India, Gameberry is one of the purest success stories in the book — a company that won the Bootstrap Champ category at the Economic Times Startup Awards 2023, quietly compounding profits year after year.

Where the money comes from

The engine is in-app purchases, which contributed ₹603 crore — nearly 85% of operating revenue — up 20.8% from ₹499 crore in FY25. Advertising revenue rose 17.4% to ₹108 crore from ₹92 crore. Including ₹39 crore of other income from interest on bank deposits and investment gains, total income reached ₹750 crore in FY26 from ₹622.3 crore in FY25.

Notably, more than 99% of revenue — ₹706 crore — came from overseas markets, with India accounting for only a fraction. Most of Gameberry's revenue and users come from international markets, especially Saudi Arabia, the US and Spain.

The cost base

Total expenditure rose 23.2% to ₹578 crore. Employee benefit expenses — the largest cost head — grew over 31% to ₹177.66 crore, while platform hosting and payment facilitation charges jumped 62.6% to ₹175 crore. Advertising expenses increased 20.4% to ₹116.4 crore.

Founded in 2017, Gameberry operates free-to-play mobile board games including Ludo Star, Ludo Titan, Parchisi Star and Backgammon Friends, monetised through in-app purchases and advertising. Nearly a decade in, it remains the poster child for building a global consumer business out of India without burning venture capital.

Why it matters for founders

Gameberry’s FY26 shows what patience looks like in consumer tech: nine years in, 99% of revenue from overseas, and profits compounding while others burn. For founders chasing venture-scale funding, the counter-lesson is that the best-capitalised competitor in a category isn’t always the one that raised the most — sometimes it’s the one that kept its costs below its in-app purchase revenue for a decade.