Drishyam The Conclusion: Decoding the Economics Behind Ajay Devgn’s Rs. 150 Crore Plus Profit

Drishyam: The Conclusion is approaching the end of its theatrical run. The Ajay Devgn-led franchise finale has grossed over Rs. 560 crore worldwide and is expected to wrap up its run at approximately Rs. 570 crore. These figures mark career-best numbers for almost everyone associated with the film. From a business perspective, too, the film has emerged as a major money-spinner for its stakeholders, as detailed below.

The third and final instalment of the Drishyam franchise was made on a production budget of Rs. 170 crore. This includes an upfront fee of Rs. 65 crore paid to Ajay Devgn. An additional Rs. 20 crore was spent on the film’s release, taking the overall cost to approximately Rs. 190 crore.

On the recovery front, the film generated Rs. 133 crore through its non-theatrical rights. The digital rights deal initially carried a base value of Rs. 100 crore, with an additional upside linked to the film’s box office performance. As a result, the final value of the digital rights increased to Rs. 115 crore.

The film has also earned an estimated distributor share of Rs. 233 crore from the Indian and overseas markets. Combined with its non-theatrical earnings, the total recoveries stand at Rs. 366 crore.

After accounting for distributor commissions and other related expenses, the film is estimated to have generated a net profit of over Rs. 150 crore. This makes it the third-most profitable Hindi film of the year, behind Dhurandhar: The Revenge and Hanuman Ansh. The profits are expected to be primarily shared between Star Studios and Panorama Studios. There is also a possibility of a performance-linked backend bonus for Ajay Devgn, although reports suggest that his upfront remuneration was fixed.

Another factor worth considering in the film’s overall economics is Panorama Studios’ acquisition of the third instalment of the original Malayalam Drishyam franchise at a significant premium. The studio reportedly incurred losses on that deal, which can be viewed as the cost of acquiring the intellectual property. How those losses will be accounted for remains unclear, but they could offset a portion of the profits mentioned above.

The economics of Drishyam: The Conclusion

Particulars	Amount
Theatrical
India (Share)	Rs. 181.00 crore
Overseas (Share)	Rs. 52.00 crore
Non-Theatrical
Digital	Rs. 115.00 crore
Music	Rs. 3.00 crore
Satellite	Rs. 15.00 crore
Total Revenues (A)	Rs. 366.00 crore
Expenses
Cost of Production	Rs. 170.00 crore
P&A, Interest and Overheads	Rs. 20.00 crore
Distribution Fee	Rs. 18.00 crore
Total Expenses (B)	Rs. 208.00 crore
Net Profit/Loss (A-B)	Rs. 158.00 crore