Ram Gopal Varma claims 'Ramayana Part 1' cost under ₹800 crore, not ₹2,000 crore
Synopsis
Filmmaker Ram Gopal Varma has thrown a grenade into the 'Ramayana' budget debate — claiming Part 1 cost under ₹800 crore, not ₹2,000 crore as widely reported. With the film reportedly approaching ₹1,000 crore worldwide in just ten days, the gap between the stated and alleged actual budget could make it one of the biggest return-on-investment stories in Indian cinema history.
Key Takeaways
Ram Gopal Varma claimed on 15 November 2026 that 'Ramayana Part 1' was made for under ₹800 crore , including tax benefits and subsidy elements.
The claim contradicts the widely reported combined budget of ₹4,000 crore ( ₹2,000 crore per part) for both films.
Varma argued production costs between two parts of a franchise are rarely equal, noting climax sequences can account for up to 50% of total spend. 'Ramayana: Part 1' , starring Ranbir Kapoor and Yash , was released on 5 November 2026 and has reportedly already crossed ₹1,000 crore worldwide.
Producer Namit Malhotra could potentially recover costs for both parts from Part 1's earnings alone, according to Varma.
The production house has not officially confirmed or denied Varma's budget claims.
Filmmaker Ram Gopal Varma has claimed that Ranbir Kapoor and Yash-starrer 'Ramayana Part 1' was made for under ₹800 crore, pushing back against the widely circulated figure of ₹4,000 crore for both parts of the franchise. Varma made the claim in a post on the micro-blogging platform X on Sunday, 15 November 2026, as the film continues to generate significant box office buzz following its 5 November 2026 release.
What Ram Gopal Varma Said
In his post, Varma wrote: '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.'
He further argued that any 'reasonably experienced film maker by seeing the film can see the cost can't be more than that.' Varma maintained that it is 'naive' to assume both parts of a franchise carry identical production costs.
The Budget Debate: ₹4,000 Crore vs ₹800 Crore
The ₹4,000 crore figure — pegged at ₹2,000 crore per part — has been in circulation for months as an aggregate budget for the two-part epic. Varma's claims, if accurate, would represent a substantially different picture of the film's economics. He noted that production costs are rarely uniform across two halves of a franchise, drawing an analogy to how climax sequences can account for as much as 50% of a film's total spend.
He also pointed out that a large portion of the investment went towards building the world of 'Ramayana' — including assets that will serve as a foundation for gaming, future franchise outings, and Part 2 — effectively functioning as long-term assets rather than pure production expenditure.
Praise for Producer Namit Malhotra
Varma reserved particular praise for producer Namit Malhotra, suggesting that at current box office trajectories, Malhotra could potentially recover the cost of Part 1 — or even both parts — through the earnings of the first instalment alone. '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,' Varma added.
Box Office Performance
'Ramayana: Part 1', released on 5 November 2026, is reportedly on course to cross ₹1,000 crore worldwide, according to available data. The film's commercial performance has already drawn comparisons to the highest-grossing Indian productions in recent memory. This comes amid a broader wave of large-scale mythological and period epics attempting to establish pan-India and global footprints.
What to Watch
Varma's claims have not been independently verified, and the film's production house is yet to officially confirm or deny the stated budget figures. As collections continue to mount, the debate over the actual cost of the production — and its eventual return on investment — is likely to remain a talking point in the weeks ahead.
Point of View
And his track record of provocative social media posts means the claim could be informed commentary or strategic noise. That said, the ₹4,000 crore figure has also circulated without official confirmation from the producers — meaning neither number has been independently verified. The more significant story may be the box office itself: if 'Ramayana Part 1' genuinely clears ₹1,000 crore in under two weeks, the debate over whether it cost ₹800 crore or ₹2,000 crore becomes secondary to what it signals about the scale of appetite for mythology-driven Indian cinema. The real question is whether Namit Malhotra's model — building franchise infrastructure as a long-term asset — can be replicated, or whether it is a one-of-a-kind cultural moment.
NationPress
15 Nov 2026
Frequently Asked Questions
What did Ram Gopal Varma say about the budget of 'Ramayana Part 1'?
Ram Gopal Varma claimed in a post on X on 15 November 2026 that 'Ramayana Part 1' was made for under ₹800 crore, including mutually beneficial deals, global tax benefits, and subsidies. He disputed the widely reported figure of ₹2,000 crore per part, or ₹4,000 crore for both films combined.
What is the reported worldwide collection of 'Ramayana Part 1'?
'Ramayana Part 1', released on 5 November 2026, has reportedly crossed ₹1,000 crore worldwide. The film has been described by Varma as 'fast emerging as the BIGGEST HIT EVER in INDIAN CINEMATIC HISTORY.'
Why does Ram Gopal Varma say both parts of 'Ramayana' won't cost the same?
Varma argued that it is naive to assume equal costs for two parts of a franchise, noting that climax sequences alone can account for up to 50% of a film's total budget. He also pointed out that much of Part 1's cost involved building franchise world assets — sets, digital infrastructure, and intellectual property — that will carry over and benefit Part 2.
Who produced 'Ramayana Part 1' and what is Varma's view of the producer?
The film was produced by Namit Malhotra. Ram Gopal Varma praised Malhotra in his post, suggesting that at the current box office pace, Malhotra could potentially recover the full cost of both parts from Part 1's earnings alone — an outcome Varma described as potentially historic for Indian cinema.
Have the makers officially confirmed the budget of 'Ramayana Part 1'?
No. The production house has not officially confirmed or denied either the ₹4,000 crore combined budget figure or Varma's claim of under ₹800 crore for Part 1. Both figures currently remain unverified by primary sources.
