Indian cinema has never been short of ambition. But Nitesh Tiwari's Ramayana, starring Ranbir Kapoor, Sai Pallavi and Yash, is taking that ambition to another level.
With a reported combined budget exceeding 4,000 crore rupees ($445 million), the two-part adaptation of the Hindu epic is being described as the most expensive Indian film project ever.
Producer Namit Malhotra, whose visual effects company DNEG has worked on Hollywood blockbusters including Dune, has put the project's cost at about $500 million.
“No Indian film, by a long distance, comes close to it,” he told The Hollywood Reporter India.
But while Ramayana is setting a new benchmark, it follows a growing number of Indian films that have pushed the boundaries of scale, spectacle and spending.
Among the pioneers were SS Rajamouli's Baahubali films, the first of which released in 2015, which helped pave the way for this new era of big-budget Indian cinema. The two films were made for a combined reported budget of about 430 crore rupees ($48 million) and went on to become enormous box-office successes, with the second instalment alone, released in 2017, earning about 1,788 crore rupees ($199 million) worldwide.
Unlike Hollywood, however, the Indian film industry has no central, independent body that consistently verifies production budgets and box-office earnings. The figures below are based on producers' statements, trade publications and independent trackers, and should be treated as estimates rather than verified financial data.
Here are 10 of the most expensive Indian films ever made, and how they performed at the box office.
1. Ramayana
Language: Hindi, with Tamil, Telugu, Kannada and Malayalam versions planned
Release date: November 5, 2026 (Part One)
Budget: More than 4,000 crore rupees ($445 million) across two parts
Box office: Not yet available
Directed by Nitesh Tiwari, Ramayana retells the Hindu epic about Prince Rama, whose quest to rescue his wife Sita from the demon king Ravana becomes a battle between good and evil. Ranbir Kapoor plays Rama, Sai Pallavi stars as Sita and Yash takes on the role of Ravana, while Sunny Deol portrays Hanuman.
Featuring music by Oscar winners AR Rahman and Hans Zimmer, and visual effects by DNEG, the two-part production is being mounted on an unprecedented scale for Indian cinema. Its reported 4,000-crore-rupee budget covers both instalments, including promotional and release expenses, rather than the first film alone.
2. Toxic: A Fairy Tale for Grown-Ups
Language: Kannada and English, with dubbed versions in other Indian languages
Release date: August 26, 2026
Budget: Reportedly 475–800 crore rupees ($53 million –$89 million)
Box office: Approximately 342 crore rupees ($38 million)
Set in Goa during the years before its liberation from Portuguese rule, Toxic follows Raya, played by Yash, as he navigates a violent criminal underworld where power, betrayal and shifting loyalties determine who survives.
Directed by Geethu Mohandas, the period gangster drama also stars Nayanthara, Kiara Advani and Rukmini Vasan. Its elaborate sets, action sequences and international production ambitions contributed to its substantial reported budget. However, estimates vary widely, and the film's box-office performance fell short of expectations.
3. Kalki 2898 AD
Language: Telugu, dubbed in Hindi, Tamil, Malayalam and Kannada
Release date: June 27, 2024
Budget: Approximately 600 crore rupees ($67 million)
Box office: Approximately 1,042 crore rupees ($116 million)
Set in a dystopian future, Kalki 2898 AD combines science fiction with Hindu mythology. Prabhas plays Bhairava, a bounty hunter whose pursuit of a mysterious pregnant woman brings him into conflict with powerful forces, while Amitabh Bachchan portrays the immortal warrior Ashwatthama, who is determined to protect her.
Directed by Nag Ashwin, the film also stars Deepika Padukone and Kamal Haasan. Its futuristic cityscapes, elaborate costumes and extensive visual effects made it one of India's most expensive productions. The gamble paid off, with worldwide earnings exceeding 1,000 crore rupees and a sequel in development.
4. RRR
Language: Telugu, dubbed in Hindi, Tamil, Malayalam and Kannada
Release date: March 25, 2022
Budget: Approximately 550 crore rupees ($61 million)
Box office: Approximately 1,230 crore rupees ($137 million)
Set in British-ruled India in the 1920s, RRR imagines a fictional friendship between two real-life revolutionaries, Alluri Sitarama Raju and Komaram Bheem, played by Ram Charan and NT Rama Rao Jr. Their unlikely bond is tested when their secret missions put them on opposing sides of a conflict with the colonial authorities.
Directed by SS Rajamouli, the action epic became a global phenomenon thanks to its spectacular stunts, elaborate sets and emotionally charged storytelling. Its international success culminated in an Academy Award for Best Original Song for Naatu Naatu.
5. Adipurush
Language: Hindi and Telugu, with Tamil, Malayalam and Kannada versions
Release date: June 16, 2023
Budget: Approximately 500–700 crore rupees ($56 million –$78 million)
Box office: Approximately 393 crore rupees ($44 million)
Another big-budget adaptation of the Ramayana, Adipurush follows Raghav, played by Prabhas, as he sets out to rescue his wife Janaki, played by Kriti Sanon, from the demon king Lankesh, portrayed by Saif Ali Khan.
Directed by Om Raut, the mythological action film relied heavily on computer-generated imagery to recreate its fantastical kingdoms and battle sequences. However, its visual effects, dialogue and characterisation attracted widespread criticism. Despite a strong opening, the film struggled to recover its reported investment through theatrical earnings.
6. 2.0
Language: Tamil, dubbed in Hindi and Telugu
Release date: November 29, 2018
Budget: Approximately 500–600 crore rupees ($56 million –$67 million)
Box office: Approximately 691 crore rupees ($77 million)
In this sequel to Enthiran, Rajinikanth returns as scientist Dr Vaseegaran and his robot creation Chitti. When mobile phones mysteriously begin flying out of people's hands and attacking their owners, the scientist must revive his powerful robot to confront a supernatural threat linked to the destruction of bird habitats.
Directed by Shankar and co-starring Akshay Kumar, 2.0 was among the earliest Indian films to embrace Hollywood-scale visual effects and 3D technology. Its ambitious action sequences and extensive digital production helped make it one of the most expensive Tamil films ever produced.
7. Pushpa 2: The Rule
Language: Telugu, dubbed in Hindi, Tamil, Malayalam, Kannada and Bengali
Release date: December 5, 2024
Budget: Approximately 400–500 crore rupees ($44 million –$56 million)
Box office: Approximately 1,742 crore rupees ($194 million)
Allu Arjun returns as Pushpa Raj, a former labourer who has risen to become a powerful red sandalwood smuggler. As his criminal empire expands, he faces renewed challenges from his enemies, including police officer Bhanwar Singh Shekhawat, played by Fahadh Faasil.
Directed by Sukumar, the sequel to Pushpa: The Rise features large-scale action scenes, elaborate musical numbers and an expanded cast. Its massive nationwide appeal made it one of the highest-grossing Indian films of all time, with worldwide theatrical earnings far exceeding its reported budget.
8. The Raja Saab
Language: Telugu, dubbed in Hindi and other Indian languages
Release date: January 9, 2026
Budget: Reportedly 400–450 crore rupees ($44 million –$50 million)
Box office: Approximately 208 crore rupees ($23 million)
Prabhas stars in this horror-comedy about a young man whose search for his missing grandfather leads him to a mysterious ancestral mansion. What begins as a family quest soon turns into a supernatural adventure involving dark secrets, strange occurrences and a sinister presence.
Directed by Maruthi and co-starring Sanjay Dutt, the film combines comedy, romance and horror with elaborate production design and visual effects. Despite its star power and reported investment, it struggled commercially. Its budget remains disputed, with some trade estimates placing the cost considerably lower than 400 crore rupees.
9. The Greatest of All Time
Language: Tamil, dubbed in Hindi and Telugu
Release date: September 5, 2024
Budget: Approximately 380–400 crore rupees ($42 million –$44 million)
Box office: Approximately 457 crore rupees ($51 million)
South Indian star Vijay plays Gandhi, a former intelligence officer whose seemingly peaceful retirement is disrupted when a figure from his past reappears. The encounter draws him back into a dangerous world of espionage, betrayal and revenge, with the actor appearing in dual roles.
Directed by Venkat Prabhu, the action thriller features international locations, elaborate stunt sequences and digital de-ageing technology used to portray a younger version of Vijay's character. Much of its reported budget was attributed to the star's remuneration and the film's technical requirements. It performed particularly well in Tamil Nadu.
10. Brahmastra: Part One – Shiva
Language: Hindi, dubbed in Telugu, Tamil, Kannada and Malayalam
Release date: September 9, 2022
Budget: Approximately 375–425 crore rupees ($42 million –$47 million)
Box office: Approximately 431 crore rupees ($48 million)
Ranbir Kapoor plays Shiva, a young DJ who discovers that he has a mysterious connection to fire and an ancient supernatural weapon known as the Brahmastra. With the help of Isha, played by Alia Bhatt, he embarks on a journey to uncover his origins and prevent the weapon from falling into the wrong hands.
Directed by Ayan Mukerji, the fantasy adventure also stars Amitabh Bachchan and Mouni Roy. Developed over several years, it relied heavily on visual effects to create a mythology-inspired cinematic universe. Although it performed well at the box office, its substantial reported budget made its commercial success a subject of debate.
