Ram Gopal Varma Defends Nitesh Tiwari's 'Ramayana' Budget, Says Part 1 Cost Less Than Rs 800 Crore

Wading into the raging debate surrounding the financial viability of Nitesh Tiwari's successful mythological epic Ramayana, veteran director Ram Gopal Varma has openly come out in strong support of producer Namit Malhotra. With the Ranbir Kapoor and Yash starrer already crossing a staggering Rs 1,288 crore at the global box office, critics have continuously questioned its actual profitability against a rumoured Rs 4,700 crore combined budget. However, firmly shutting down these negative financial speculations, Varma boldly claimed that the first instalment's production cost is significantly lower than publicly assumed.

'Budget Is Under Rs 800 Crore'

Taking to X on Sunday, Varma debunked the widespread belief that both parts of the mythological saga cost an equal amount to produce. "I got to know that the actual cost of Part 1 is a little less than Rs 800 crore," he revealed, explaining that this much lower figure factors in global tax benefits, subsidies, and mutually beneficial production deals.

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Calling critics "stupid" for simply splitting the massive Rs 4,700 crore budget equally between the two films, he argued that just like pre-interval and post-interval sequences, the financial distribution of a two-part franchise is never strictly symmetrical.

Even for the best of my films she din’t do this , but my mother has been buying tickets of @malhotra_namit ‘s #Ramayana for the servants , watch men etc in the building complex she lives , and inspite of this kind of euphoria leading it to breaking all box office records and fast emerging as the BIGGEST HIT EVER in INDIAN CINEMATIC HISTORY, stil lot of noise is being made by many jealous that the collections are still not enough because it’s 2000 cr a piece making it 4000 for 2 I got to know that the actual cost of part 1 is a little less than 800 and that includes mutually beneficial deals , global tax benefits , subsidy elements etc etc which all will eventually bring the cost to lesser than that .. And not only me but any reasonably experienced film maker by seeing the film can see the cost can’t be more than that .. Also many are stupid to assume that both parts will cost same ..That’s like thinking the cost before interval and post interval will be same in a film ..I know of films where 50% of the cost was just climax Also much of the cost will include costs of creating the world of Ramayana which becomes future assets for gaming and various other aspects including assets for part 2 , which are all a part of Namit’s visionary future outings .. And this part I frankly think , can’t even be understood by most Bollywood makers , traders and other self proclaimed experts So going by how it’s bull running now , it is obvious that Namit Malhotra is going to cover the entire cost of part 1 or maybe both parts in part 1 itself and then there’s the non theatrical of part 1 and all revenue inflows of part 2 So in other words Namit Malhotra can build his own Pushpak vimaan and start dumping money into innumerable extraordinary ventures which all the biggest production companies from north to south couldn’t do till now and then he can surpass even the biggest of the biggest Hollywood biggies I don’t know what happened to Valmiki Ji or Tulsidas ji after they did their work , but it’s an irrefutable fact that , from now onwards Namit Malhotra will be the biggest mega film maker in history since 1913’s May 3rd release Raja Harishchandra , till whichever the biggest film came before November 5 th 2026 ..If anyone has a doubt just do the math And the fact that the most fantastic action set pieces will be in part 2 starting from the Hanuman acts , Vaanar Sena , Ram Sethu , Lanka dhahanam , Sita in Lanka , Kumbha Karan’s death , Ravan vadh and many many more just to name a few , and going by the extraordinary proven Vision of Namit Malhotra’s combination of strategy , business acumen , creative understanding and visionary outlook, If KGF 2 did around 5 times more than KGF 1 , I am convinced that Ramayana 2 will do 10 times more than Ramayana part 1 ..If you disagree , we will talk in 2028

— Ram Gopal Varma (@RGVzoomin) November 15, 2026

'Part 2 Will Do 10 Times More'

Praising Namit Malhotra as the biggest filmmaker since Dadasaheb Phalke, Varma predicted unprecedented, historic success for the highly anticipated sequel slated for a 2028 release. Citing the staggering box office growth of Yash's KGF franchise, he asserted, "If KGF 2 did around 5 times more than KGF 1, I am convinced that Ramayana 2 will do 10 times more than Ramayana Part 1."

Confident in the film's monumental financial trajectory, Varma stated that the entire production cost for both cinematic instalments will easily be recovered by the sheer theatrical and non-theatrical revenues of the first part alone.

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Ramayana's Box Office Collection

Released in theatres on November 5, just ahead of the festive Diwali weekend, Ramayana Part 1 has been setting the cash registers ringing. The highly anticipated film witnessed a massive surge in collections post the festival, officially crossing the coveted Rs 1,000 crore mark worldwide in just eight days. Cementing its status as a global blockbuster, the magnum opus has now amassed an astounding Rs 1288 crore globally within ten days of its theatrical release, becoming only the eleventh Indian film in history to achieve this rare milestone.