Nitesh Tiwari’s Ramayana opens with a number no Indian film has carried before: a reported two-part budget of about $500 million. Producer Namit Malhotra, whose visual effects studio DNEG is handling the film’s effects, told The Hollywood Reporter India that “No Indian film, by a long distance, comes close to it.”
A record built on estimates
The trade figure circulated for the two-part adaptation is more than ₹4,000 crore, covering both instalments and their promotion and release costs; Part One releases on November 5, 2026. The scale is not for a single film but for a full adaptation of the Hindu epic.
India has no central body that independently verifies production budgets or box-office earnings. Figures such as these are compiled from producer statements, trade publications and independent trackers, so they are best read as estimates rather than audited data.
Ranbir Kapoor plays Rama, Sai Pallavi plays Sita, Yash appears as Ravana and Sunny Deol plays Hanuman. AR Rahman and Hans Zimmer share the music credits, while DNEG handles visual effects.
Where the money went before
The record follows a run of Indian films that pushed budgets upward with sharply different results. Among the biggest productions tracked by the source, the returns split in two directions:
- Baahubali: about $48 million combined budget; the 2017 sequel earned roughly $199 million worldwide.
- Kalki 2898 AD: about $67 million budget; earned around $116 million globally.
- RRR: about $61 million budget; earned around $137 million and won an Oscar for Naatu Naatu.
- Pushpa 2: The Rule: about $44 million to $56 million budget; earned around $194 million worldwide.
- Toxic: A Fairy Tale for Grown-Ups: reported $53 million to $89 million budget; earned around $38 million.
- Adipurush: about $56 million to $78 million budget; earned around $44 million.
- The Raja Saab: reported $44 million to $50 million budget; earned around $23 million.
Why this matters for Hindi cinema
The comparison is not just about scale. Expensive productions such as Brahmastra: Part One – Shiva, which also starred Ranbir Kapoor, carried a reported $42 million to $47 million budget and earned around $48 million globally — enough to continue a franchise, but not a runaway blockbuster.
Ramayana does not have to recover $500 million from one release because the budget covers both films. But it does need to establish theatrical trust quickly. Part Two’s economics will rest on the reputation Part One builds.
The figure to watch is not the opening weekend alone, but how long the film holds and whether audiences return for the second half. A $500 million Indian production is a milestone; whether it becomes a reliable business model is the question the next instalment will answer.
Source: The National
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