‘Ramayana Part-1’ earns ₹375 cr in 3 days:Needs ₹5,000 cr collection for profit; where was ₹2,000 cr spent?

The film Ramayana Part 1 released on 5 November has earned ₹375.5 crore in three days. For big-budget Indian films earning ₹1,000 crore is considered a major benchmark. However, a reported ₹4,000 crore has been spent on making both parts of Ramayana. It is India’s most expensive film to date. How much does the film need to earn to become profitable? Can it achieve that figure, and what makes it so expensive? Let us understand in today’s explainer… How has Ramayana performed at the box office so far? According to industry tracker Sacnilk and several other reports, Nitesh Tiwari’s Ramayana has earned ₹375.5 crore worldwide in its first three days. Here is the breakdown of its collections over the first three days: 5 November: The film earned ₹77.5 crore in India and ₹51.25 crore overseas. Its total worldwide gross collection stood at ₹128.75 crore. 6 November: The film earned ₹57.30 crore in India and ₹44 crore overseas. Its total worldwide gross collection stood at ₹101.30 crore. Collections fell by 26.1% in India and 21.3% worldwide compared with the previous day. 7 November: The film earned ₹83.45 crore in India and ₹62 crore overseas. Its total worldwide gross collection stood at ₹143.45 crore. Collections increased by 45.6% in India and 41% worldwide compared with the previous day. According to film critic and trade analyst Taran Adarsh, ‘The period leading up to Diwali affected the film’s business on Friday. For those who understand the ground realities of the film business, the collections over the first two days were entirely in line with expectations.’ What is the minimum amount Ramayana needs to earn to become profitable? According to trade expert Ramesh Bala, a common box-office formula is that a film needs to earn 2.5 times its budget to break even. Break-even means the stage at which a film recovers its costs, making neither a profit nor a loss. It is being reported that ₹4,000 crore has been spent on making both parts of Ramayana. Based on this, the cost of the first part is estimated at ₹2,000 crore. Therefore, Ramayana Part 1 would need to earn ₹5,000 crore to break even. The 2.5-times figure is not a fixed mathematical rule, but filmmaker Rajkumar Hirani also mentioned the same figure in a podcast in June 2026. He said, “When you read that a film has earned ₹100 crore or ₹200 crore, you first need to understand the breakdown. If a film earns ₹100 crore, its producer receives only 40% or 35% of that amount. Multiplexes cinema halls that screen the film take away 50% of the ticket revenue. Hirani further explained, ‘In the first week, theatre owners say, ‘Take 50%,’ and then in the second week, they give 60%. A large portion of the remaining earnings goes to distributors and film advertising. This has always been the case. In fact, the revenue generated from ticket sales is called the gross collection. After deducting taxes, the remaining amount is the net collection. The remaining revenue then goes to the distributor, and the producer receives their share according to the contract. Apart from this, there are also film marketing costs. However, films earn money through several other sources besides ticket sales. Therefore, it cannot be said that Ramayana part 1 must earn the entire ₹5,000 crore through ticket sales alone to break even. According to Hirani, there are three sources of revenue besides ticket sales. Films are sold to satellite television channels, released on OTT platforms, and generate revenue through music. Producers must recover their costs through all these sources. Reports suggest that Ramayana will be released on Jio hotstar after its theatrical run. Hirani said, ‘Earlier, marketing budgets were smaller. Now, the marketing budget of any film has gone well beyond ₹10 crore because reaching audiences is becoming increasingly difficult. So, can the film earn ₹5,000 crore? A film’s earnings depend on its performance. There are three possible parameters to assess this. 1. Advance booking of the film Advance ticket bookings indicate the initial demand for a film. Ramesh Bala had said that Ramayana would need advance bookings worth around ₹75–100 crore before its release to secure a good opening. If bookings reached ₹150–200 crore, the film would gain the necessary momentum. According to Sacnilk, Ramayana recorded worldwide pre-sales worth ₹152 crore before its release on 5 November. This included ticket sales as well as seats blocked by cinemas. However, Dhurandhar: The Revenge part 2 holds a bigger record in this category. After predominantly South Indian films such as Pushpa 2, Leo, RRR and Baahubali 2, Dhurandhar became the first Bollywood film to record worldwide advance bookings exceeding ₹200 crore before its release. In comparison, Dhurandhar 2 was made on a budget of around ₹225 crore and earned ₹1,813 crore in worldwide gross collections. On this basis, Ramayana is significantly behind Dhurandhar 2. 2. The film’s opening-day collection After advance bookings, a film faces its real test on its opening day. According to Bala, a worldwide gross collection of ₹175–200 crore would have been a good start for Ramayana. However, the film actually earned ₹128.75 crore. Its collections also declined on the second day. In comparison, Dhurandhar Part 2 recorded a worldwide gross collection of ₹226.60 crore on its opening day. If compared with the Prabhas-starrer Adipurush, which was made on a budget of ₹700 crore, the film earned approximately ₹128.08 crore worldwide on its opening day, almost the same as Ramayana. However, on its second day, Ramayana earned ₹101.30 crore worldwide, while Adipurush recorded a gross collection of around ₹87.70 crore. Adipurush eventually managed to collect only ₹393 crore. 3. Audience reviews and the pace of earnings in the first three weeks Audience reactions play an important role in determining whether a film can sustain a long theatrical run. People recommend films to one another or advise others against watching them. Taran Adarsh says that a strong opening alone is not enough for a film to enjoy a long run. Positive word of mouth is one of the biggest factors. One of the clearest examples is Hanuman Ansh, which was released on 7 August this year. The film earned just ₹1.08 crore in its first week. Its collections fell to ₹40 lakh in the second week, but rose to around ₹10.40 crore in the third week. It then earned approximately ₹61 crore in its fourth week. According to Sacnilk, Hanuman Ansh had collected ₹453.22 crore worldwide in 92 days as of 6 November. Ramayana has witnessed a sharp rise in collections after a decline on its second day. Taran Adarsh says, ‘The film’s collections are expected to see a sharp change between monday and wednesday after Diwali.’ Adarsh has given the film a rating of 5 out of 5. Devang Sampat, Managing director of cinema chain cinepolis India, says, based on trends, we can generally analyse a film’s performance over two weekends. However, sometimes word of mouth can take longer to have an impact.’ What makes Ramayana Part 1 so special that ₹2,000 crore was spent on it? The makers of most big-budget films do not disclose a detailed breakdown of their production costs. However, a film’s production scale cast and technology provide a rough idea of its budget. The key features of Ramayana include its production scale, visual effects set design expensive technical team and renowned musicians. 1. Heavy spending on VFX and computer generated imagery The film features large-scale depictions of Ayodhya, Lanka, forests, the Pushpak Viman and battle sequences. Creating such scenes requires computer-generated imagery (CGI) and visual effects. The VFX work was handled by Namit Malhotra’s company, DNEG. The company has provided visual effects for major Hollywood films such as Inception, Interstellar and Dune, with VFX work costing hundreds of crores of rupees. DNEG has won eight Oscars for Best Visual Effects so far. The VFX work on Ramayana is also estimated to have involved substantial expenditure. According to Nitesh Tiwari, some VFX sequences took three years to create. 2. Expensive props and more than 150 sets costing crores of rupees The film’s art director, Ramesh Andhale, told The Indian Express that work on the sets began in 2024. Around 150 sets were constructed. He said, “It took four months and ₹1 crore to make Ravana’s throne. It was decorated using 24-carat gold leaf. Similarly, Shurpanakha’s chariot was made at a cost of ₹1.5 crore. After months of hard work, a 24-foot model of Jatayu and a 50-foot Pushpak Viman were created.” 3. Crores spent on expensive artists and staff Renowned musicians Hans Zimmer and A.R. Rahman composed the film’s music. According to estimates, Zimmer’s fee alone could be between ₹50 crore and ₹80 crore. The film was shot from April 2024 to July 2025, starting at Mumbai Film City and extending to overseas locations. Huge amounts were spent on locations, travel, artists’ costumes, jewellery, weapons, make-up and lighting. Around 500 staff members and artists worked on the film every day. However, at the trailer launch of his film Matrubhoomi on 6 November, actor Salman Khan commented on the film’s ₹4,000 crore budget. He said, “The discussion should be about the Ramayana, not its VFX or production costs. This talk about ₹4,000… VFX, VFX, I don’t think this is right. The Ramayana should be discussed in terms of its characters, Rama, Ravana, Sita and the scriptures.” Which elements of Ramayana part 1 are receiving the most praise? Three elements are receiving widespread praise: the film’s VFX and action sequences, actor Yash’s portrayal of Ravana, and the sequences featuring Jatayu attempting to save mother Sita and the Pushpak Viman. S. Shankar, director of several blockbuster films, including Robot 2.0, wrote, “It is a delight to watch Yash in every frame. He is a very lovable villain and has delivered an excellent performance. Best wishes to Ranbir Kapoor and Sai Pallavi as well.” A user on X wrote, ‘Playing Ravana was a bold and unconventional choice for Yash. He plays an evil character and makes every scene his own. His presence creates a sense of danger. He was fierce as Ravana, bringing an aura, menace and swagger to the role.’ S. Shankar wrote, “Indian cinema has never seen visuals like these before. I greatly appreciate Namit Malhotra and Nitesh Tiwari for taking this to international standards. Outstanding VFX, rich production values, a spectacular look and feel, brilliant music by A.R. Rahman and Hans Zimmer, and powerful sound! However, some critics have also pointed out several shortcomings. For instance, the first part, which runs for three hours and 15 minutes, is considered somewhat slow. It covers the story up to the abduction of mother Sita, with most of the action reserved for the next part. In addition, Ranbir Kapoor’s performance has not received much particular praise. The emotional connection between his character and Sai Pallavi, who plays mother Sita, is perceived as weak. Some reviews have also described the music as falling short of expectations. Note: The figures are based on industry trackers and media reports available up to the night of 7 September, 2026. No independent attempt has been made to promote or discredit the film in any way.