India, Feb. 6 -- India's gaming boom has largely unfolded on mobile screens and livestream platforms. Now, gaming major Nazara Technologies is betting that the next phase of growth will happen offline. Through its Funky Monkey centres, the gaming major is building a network of indoor play arenas, a strategy that promises faster cash flows, stronger brand touchpoints, and insulation from platform volatility.

While Nazara is widely recognised for its mobile games, esports platforms and global IP portfolio, its offline gaming business is now scaling up as the company is opening one to two new centres every month. What began as an experimental vertical is increasingly being positioned as a core pillar of Nazara's long-term strategy, at least...