There’s already plenty of excitement around Varanasi, the ambitious film bringing Mahesh Babu and S.S. Rajamouli together for the first time. And now, the talk has shifted from the film’s scale and cast to its business, with reports of a huge deal for its theatrical rights in the Telugu states doing the rounds in Tollywood.
The film is being made on a massive budget, with the makers reportedly aiming for something on a scale rarely seen in Indian cinema. Rajamouli, who took Telugu cinema to the global stage with RRR, directing Mahesh Babu is obviously a big deal in itself. Priyanka Chopra plays the female lead, while Malayalam actor Prithviraj Sukumaran takes on the antagonist’s role. K.L. Narayana and S.S. Karthikeya are producing the film, which is scheduled for a worldwide theatrical release on April 7 next year. Expectations are already sky-high, and the latest business reports have only added to the excitement.
Has ‘Varanasi’ Locked a Record Telugu Theatrical Deal?
Even a small update about Varanasi tends to spread quickly on social media. The latest buzz is about the film’s theatrical rights in Andhra Pradesh and Telangana. According to reports circulating in industry circles, Mythri Movie Makers has acquired the rights for both Telugu states for a whopping ₹290 crore.
There has been no official confirmation from the makers or the production house so far, so the figure should be taken with a pinch of salt. Still, if the reported deal is accurate, it would be a new record for Telugu theatrical business. Rajamouli’s RRR currently holds the previous benchmark, with its Telugu states theatrical rights reportedly valued at around ₹225 crore. Varanasi would comfortably move past that number.
There is also talk that Mythri Movie Makers wasn’t the only production house interested in the deal. Sri Venkateswara Creations and Sithara Entertainments were reportedly among the contenders, but Mythri eventually came out on top. Whether all these details are confirmed or not, the reported figure gives an idea of just how much confidence the trade has in the Mahesh Babu-Rajamouli combination.
Can ‘Varanasi’ Recover Such a Huge Investment?
Of course, buying the rights for ₹290 crore is only one part of the story. The bigger question is what happens once the film reaches theatres. With such a high price attached to the Telugu states’ rights, Varanasi will need to collect around ₹500 crore gross in AP and Telangana just to reach the break-even point, according to trade estimates.
That’s a massive target, even for a film featuring Mahesh Babu and directed by Rajamouli. The combination has enormous appeal, and the film is being positioned as a large-scale spectacle with an international reach. Those factors could certainly work in its favour. But the expectations that come with a deal of this size are equally enormous. A strong opening alone won’t be enough; the film will need to sustain its run and bring audiences back to theatres over the following days.
For Mythri Movie Makers, this could turn into one of the biggest theatrical business moves in Tollywood. If the film lives up to the expectations, the investment could pay off in a historic way. But if it doesn’t, the same deal could become a very expensive gamble. For now, the reported ₹290 crore figure remains unconfirmed, and all eyes will be on how Varanasi performs when it finally arrives in theatres.