Namit Malhotra’s ‘Ramayana’ Set to Become the Most Expensive Indian Film Ever, Surpassing Hollywood Giants

In what is being billed as India’s answer to The Lord of the Rings, filmmaker Namit Malhotra is mounting a two-part cinematic adaptation of the Ramayana on an unprecedented scale. With a reported combined budget of ₹4000 crore (approximately $500 million), the project aims to eclipse the production costs of even some of Hollywood’s most expensive films, including Avatar and Avengers: Endgame.

For decades, Indian cinema lagged far behind Hollywood in terms of production budgets. When Titanic released in 1997 with a budget exceeding $200 million, Indian films were typically produced for under ₹40 crore (about $10 million at the time). However, the last decade has seen a shift, with large-scale Indian productions narrowing that gap. Recent high-budget Indian films like Adipurush (₹550 crore), RRR (₹500 crore), and Kalki 2898 AD (₹600 crore) have pushed the envelope. Yet, none come close to the scale and ambition of Ramayana.

Until now, SS Rajamouli’s two-part Baahubali series stood as India’s most expensive franchise at a reported ₹430 crore. Ramayana, by comparison, is budgeted at more than nine times that amount.

Speaking on The Prakhar Gupta Xperience podcast, producer Namit Malhotra shared the vision behind the film: “When we set out to make it, 6-7 years ago, when we really got serious about mounting it, everybody called me a lunatic, because no Indian film comes close to it budgetwise. To put it simply, it will be about $500 million by the time we are done with both the films - Part 1 and Part 2, which is over ₹4000 crore.”

Malhotra added, “We are making the largest film in the world for the greatest story the world should see. I still think it is cheaper than some of the big Hollywood films. I think we are making a bigger film at a lower cost. That Indian in me still believes we are not being irresponsible with money.”

While Avatar reportedly cost $237 million and Marvel’s Avengers: Endgame came in at just over $350 million, only a handful of Hollywood franchises—such as the back-to-back productions of Infinity War and Endgame (over $700 million) or the Hobbit trilogy ($623 million)—have surpassed the reported cost of Ramayana.

Directed by acclaimed filmmaker Nitesh Tiwari, Ramayana will be released in two parts, with Part 1 scheduled for Diwali 2026 and Part 2 in 2027. The film boasts a star-studded cast: Ranbir Kapoor as Lord Ram, Yash as Ravana, Sai Pallavi as Sita, Ravi Dubey as Lakshman, and Sunny Deol as Hanuman. Adding further prestige to the project is its musical score, which will be a collaboration between Oscar-winner AR Rahman and legendary Hollywood composer Hans Zimmer, who is making his Bollywood debut with this film.

With this bold undertaking, Ramayana is set to not only redefine Indian cinema’s capabilities but also carve a place for itself among the most ambitious film projects ever attempted worldwide.