Filmmaker Ram Gopal Varma has shared his thoughts on the box office performance and reported budget of Namit Malhotra's Ramayana.
Praising the film's growing popularity, the director said that producer Namit Malhotra could recover the entire cost of the first part, or possibly both instalments, through the theatrical run of the first film itself.
Taking to X, Ram Gopal Varma also revealed that his mother has been buying tickets for Ramayana for the domestic staff and watchmen in the building complex where she lives.
"Even for the best of my films she didn't do this, but my mother has been buying tickets for @malhotra_namit's #Ramayana for the servants, watchmen, etc in the building complex she lives. And despite this kind of euphoria leading it to break all box office records and fast emerging as the BIGGEST HIT EVER in INDIAN CINEMATIC HISTORY, still a lot of noise is being made by many jealous people that the collections are still not enough because it's 2000 cr a piece, making it 4000 for 2."
The filmmaker also questioned the widely discussed budget of the two-part epic. According to him, the actual cost of the first instalment is likely to be considerably lower than the reported figures.
"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 filmmaker, 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 the same. That's like thinking the cost before the interval and post-interval will be the same in a film. I know of films where 50% of the cost was just the climax."
Ram Gopal Varma also spoke about the long-term value of the assets being created for Ramayana. He explained that the world built for the film could be used for gaming and other projects, while also benefiting the second instalment.
"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."
Further expressing confidence in the film's commercial prospects, the director said that its theatrical performance could allow Namit Malhotra to recover a substantial part of his investment before the second instalment arrives.
"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."
The Rangeela director went on to call Namit Malhotra one of the biggest filmmakers in Indian cinema's history.
"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 filmmaker in history since 1913's May 3rd release, Raja Harishchandra, till whichever the biggest film came before November 5th 2026. If anyone has a doubt, just do the math."
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
He also suggested that the second part of Ramayana could perform significantly better than the first, particularly because of the major action sequences yet to be seen on screen.
"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."
