Thamma’s Budget vs. Box Office ROI (Return on Investment)
Mumbai, Friday, November 7, 2025: When a movie is made on a big budget, the risk is always high. This year, all eyes were on Maddock Films’ Thamma. The film, starring Ayushmann Khurrana and Rashmika Mandanna, was the big Diwali release. It is part of the famous Stree and Bhediya horror-comedy universe.
The film has been in theatres for 17 days. It has made decent money. But with a huge budget, is the movie a ‘Hit’ or a ‘Flop’?
In Bollywood, the “Hit” tag is not just about the final collection. It is about the Return on Investment (ROI). How much profit did the movie make for its producers? Let’s break down the math in this special case study.
1. Thamma Cost: A Big Budget Gamble
First, let’s look at the money spent. Thamma was not a cheap film. It is the most expensive movie in the Maddock horror universe.
- Cost of Production (CoP): This includes the actors’ fees, the director’s fee, shooting costs, and VFX (visual effects).
- Prints & Advertising (P&A): This is the marketing budget. This includes TV promos, digital ads, and posters.
According to trade reports, the total budget (CoP + P&A) of Thamma is a massive ₹145 to ₹150 Crores. For our calculation, we will use the ₹150 Crore landing cost. This is a very high budget for a horror-comedy.
Budget: ₹150 Crores
2. Thamma Box Office Collection (Theatrical Business)
Now, let’s see what the film earned from ticket sales. This is the money that the audience pays at the cinema hall.
- Release Date: October 21, 2025 (Diwali)
- Opening Day (India): A strong start with ₹24 Crores.
- First Week (India): The film collected a very good ₹108.4 Crores in its extended first week.
- Total (After 17 Days):
- India Net Collection: ₹127.1 Crores
- Overseas Gross: ₹24.0 Crores
- Total Worldwide Gross: ₹176 Crores (approx. India Gross ₹152 Cr + Overseas ₹24 Cr)
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These numbers look big. But the producer does not get all this money.
3. The Big Twist: Understanding “Producer’s Share”
This is the most important part. The ₹127.1 Crore (India Net) is shared between the producer/distributor and the theatre owners (like PVR, INOX, and single screens).
- On average, the producer gets about 45% to 50% of the Net collection.
- Let’s calculate the producer’s share from theatres:
Calculation (Theatrical): 45% of ₹127.1 Crores = ₹57.2 Crores (approx.)
So, from ticket sales, the producers only got back ₹57.2 Crores.
If this were the only income, Thamma would be a huge disaster.
- Budget: ₹150 Crores
- Theatrical Earnings: ₹57.2 Crores
- Loss: -₹92.8 Crores
But… this is not the full story.
4. The Real Hero: Non-Theatrical Revenue (OTT & Satellite)
This is the secret to Thamma’s success. In today’s world, producers make a lot of money before the film even releases. They sell the rights to OTT platforms (like Netflix, Amazon Prime) and TV channels (Satellite rights).
Maddock Films is a big brand. The horror universe has a huge following. Because of this, the producers sold the digital and satellite rights for a record price.
According to top industry sources:
Thamma recovered its entire budget from non-theatrical deals.
This means:
- Non-Theatrical Revenue: ₹150 Crores (approx.)
This is called “Table Profit.” The producers were already in a safe zone on Day 1.
5. Final Calculation: The ROI (Return on Investment)
Now let’s do the final math to see the full picture.
Total Cost:
- Budget: ₹150 Crores
Total Recovery (Total Money Earned by Producer):
- Theatrical Share: ₹57.2 Crores
- Non-Theatrical Rights: ₹150 Crores
- Total Recovery: ₹57.2 Cr + ₹150 Cr = ₹207.2 Crores
Final Profit:
- Total Recovery (₹207.2 Cr) – Total Cost (₹150 Cr)
- Total Profit: ₹57.2 Crores
ROI Percentage: The formula for ROI is: (Profit / Budget) * 100
- (₹57.2 Crores / ₹150 Crores) * 100
- ROI = 38.13%
6. The Final Verdict: Hit or Flop?
- At the Theatres: The film is an Average performer or Semi-Hit. It did not earn back its budget from ticket sales alone.
- For the Producers: The film is a clean HIT.
An ROI of nearly 40% is considered a very good and safe return. The producers made a profit of over ₹57 Crores.
The case study of Thamma shows how the Bollywood business works today. The box office is important for prestige and for the theatre business. But the real profit for big films often comes from OTT and satellite deals. Thamma is a perfect example of a smart business model where the producers made a big profit even before the audience gave its final verdict.
