How Much a Spin-Off of Dhurandhar: The Revenge Could Cost and Earn in 2026

Dhurandhar 2 has crossed 1000Cr! Discover why a spin-off is the next big trade bet and how the numbers could reshape the Indian film industry.

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Mumbai, Friday, 27 March 2026 — As the dust settles from the historic first week of Dhurandhar: The Revenge, the Indian film industry is facing a new reality where one franchise dictates the health of the entire exhibition sector.

The Ranveer Singh-starrer has not just shattered records; it has effectively become a balance sheet event for major multiplex chains like PVR Inox. With the film crossing the Rs 1,000 crore worldwide gross mark in just eight days, the trade is no longer discussing if a spin-off will happen, but rather how much it will cost and how much gold it will mine at the box office.

This spy-thriller juggernaut has already netted over Rs 670 crore in India alone, showcasing a level of weekday stability that even recent blockbusters like Jawan or Animal struggled to maintain after their initial peaks.

The strategic impact of this success is profound, as it has established Aditya Dhar as a master of the high-stakes espionage genre, proving that tight research and a Rs 255 crore combined production budget can yield a multi-billion rupee return.

For Jio Studios and B62 Studios, the path forward involves expanding this cinematic universe into spin-offs that could explore the origins of fan-favorite characters like Major Iqbal, played by Arjun Rampal.

The curiosity surrounding a potential spin-off is reaching a fever pitch because the audience is hungry for more than just Hamza Ali Mazari’s arc.

Trade analysts believe that a focused spin-off could act as a bridge for the fourth quarter of future fiscal years, much like the sequel is doing for FY26 right now. By leveraging existing assets and character goodwill, the makers could create a high-impact cinematic asset with a significantly lower risk profile than a full-blown third instalment.

The Trade Forecast on The Dhurandhar Universe Expansion

According to Pinkvilla, as per trade expert Himesh Mankad, the momentum behind the Dhurandhar franchise is so strong that the industry is already anticipating a massive expansion of the “Spy-Verse”.

While Ranveer Singh is set to move on to Don 3 in early 2026, the potential for a spin-off remains a hot topic in the inner circles of Mumbai’s film studios. The logic is simple: the first Dhurandhar achieved Rs 1,300 crore, and the sequel is currently chasing even higher benchmarks.

The financial feasibility of a spin-off is rooted in the “landing cost” model. The original two films were produced at a combined cost of approximately Rs 255–300 crore, a figure that includes high-octane sequences that were often enhanced directly on the sets.

A spin-off, focusing perhaps on Major Iqbal’s firearms negotiations or SP Chaudhary Aslam’s rise, could be mounted on a leaner budget of Rs 150–175 crore. This lower entry point, combined with the established brand value, would essentially guarantee a profit before a single ticket is sold through pre-release non-theatrical deals.

Is the Indian audience truly ready for another spin-off, or are we simply riding the high of a single blockbuster week?

We have seen “spy fatigue” hit other major universes when the storytelling becomes formulaic.

However, Dhurandhar 2 has defied this by maintaining a staggering 95-96% fidelity to its original, research-heavy script while allowing for on-set improvisations.

The real question is whether a spin-off can survive without the high-voltage screen presence of Ranveer Singh, or if the brand name “Dhurandhar” has now become the true hero that can carry any character to a Rs 500 crore gross.

Breaking Down the Projected Balance Sheet

The projected economics for a Dhurandhar spin-off are mouth-watering for any distributor. If we look at the current trends, Dhurandhar 2 is expected to deliver a lifetime domestic net of Rs 1,100–1,300 crore. A spin-off, even at 40% of that efficiency, would still comfortably cross the Rs 400 crore mark in India.

Digital and Satellite Valuation

Non-theatrical rights for the current sequel are estimated to have helped the film break even or turn a profit even before its theatrical release.

For a spin-off, digital acquisition by giants like JioCinema or Hotstar could range between Rs 80–120 crore, depending on the lead cast. Satellite rights would likely fetch another Rs 40–60 crore, given the massive television ratings the first film garnered.

Theatrical Revenue and ROI Expectations

The return on investment (ROI) for Dhurandhar: The Revenge was swift, with the film recouping its Rs 225 crore production cost within its opening weekend.

Analysts project that a spin-off with a Rs 150 crore budget would only need a worldwide gross of Rs 350 crore to be considered a blockbuster.

Given that the sequel earned Rs 186 crore on its opening day alone worldwide, a spin-off reaching that lifetime goal seems more like a formality than a challenge.

Production Timeline and Market Windows

With the final post-production of The Revenge concluding in early March 2026, the team is now in a position to leverage the same technical crew and visual effects pipelines for a spin-off.

This would significantly reduce the “burn rate” of the production budget. If the makers follow the simultaneous shoot strategy used by other major 2026 projects like Ramayana, we could see a spin-off hitting theaters as early as the first quarter of 2027.

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The numbers don’t lie, and right now, they are screaming that the Dhurandhar brand is the most valuable IP in the country after the YRF Spy Universe.

Investing in a spin-off isn’t just a creative choice; it’s a necessary strategic move to maintain the 28% occupancy levels that the exhibition sector desperately needs to survive muted quarters.

If Aditya Dhar can maintain the same “water-tight” scripting and thorough research that defined the first two films, a spin-off will not just earn money—it will cement a legacy. In my expert view, this is the safest bet in Bollywood right now.

The bottom line is that the Dhurandhar franchise has reached a level of “Global Domination” where it is no longer just a movie; it is a full-funnel marketing platform for brands and a lifeline for theatres.

The Hamza Ali Mazari universe is just getting started, and the spin-offs will likely be the engine that keeps the Indian box office running hot through 2027.

This is the best news for the industry in years.

The Dhurandhar franchise has proven that high-quality, research-driven spy thrillers have a massive ceiling in India.

A spin-off is a low-risk, high-reward move that allows the studio to keep the brand alive while lead stars work on other projects.

It’s a win-win for everyone from producers to popcorn sellers.

Nitesh Mishra – Box Office Analyst

Which character from Dhurandhar: The Revenge do you think deserves their own solo movie the most—Major Iqbal or SP Chaudhary Aslam? Provide your answer in the comments!

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