May 21, 2026 6:05pm IST
‘Ramayana’ Producers Seek Record-Breaking ₹450 Crore for Distribution Rights (EXCLUSIVE)
The most expensive Indian film of this year, Nitesh Tiwari’s “Ramayana,” is scheduled for a theatrical release on the Diwali 2026 weekend. With sky-high expectations at both the domestic and global box office and less than six months to D-Day, discussions over its distribution rights in India have intensified, with the country’s leading distribution houses all vying to acquire it.
Variety India has exclusively learned that Dharma Productions, AA Films and Pen Studios are all in talks with producer Namit Malhotra for the pan-India theatrical distribution rights of “Ramayana.” The discussions are still in early stages, with a final deal likely to be finalized in the coming months.
Big Ask
What has stunned the industry, however, is the price tag the producers have quoted. Industry sources say Namit Malhotra is seeking a staggering ₹450 crore for the Hindi theatrical distribution rights of “Ramayana” — an amount unheard of in the history of Indian cinema. Anil Thadani, Jayantilal Gada and other distributors have apparently expressed hesitation over such a steep price and have urged Malhotra to bring it down to a more realistic and commercially viable level.
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Building Benchmarks
In contrast, producer Malhotra is said to be firm on the asking price, believing that it reflects the film’s scale, market potential, and anticipated box office performance. They are expected to resume talks once the second promotional asset from the film is unveiled. Interestingly, a deal worth ₹400 crore or even ₹300 crore would mark a historic benchmark for Hindi cinema distribution. So far, the record for the biggest known Hindi film distribution deal belongs to Shah Rukh Khan’s “King,” which was recently acquired by Pen Marudhar for a reported sum of ₹250 crore.
“Ramayana” is one of the most anticipated Indian films of the year, possibly with the biggest worldwide release as well. Starring Ranbir Kapoor as Lord Ram, Yash as Ravana, Sai Pallavi as Goddess Sita and Sunny Deol as Lord Hanuman, the film is expected to rewrite box office records when it arrives in cinemas in November. Trade experts are projecting a blockbuster theatrical run for this film, with projections estimating a lifetime domestic collection between ₹1000 crore and ₹1500 crore net in India, alongside a potential worldwide gross exceeding ₹2500 crore.
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