Haiwaan and Mahakavya Shri Ramayan Katha: A Look at Budgets and Box Office Results

The film Haiwaan, directed by Priyadarshan and starring Akshay Kumar and Saif Ali Khan, was reportedly made on a budget of Rs 130 crore. The film released on September 11, 2026, and collected only Rs 9.92 crore net in India during its entire theatrical run.

Separately, Mahakavya Shri Ramayan Katha, a smaller mythological film, released on September 25, 2026, with a reported budget that is a fraction of its big-budget competitor, Nitesh Tiwari’s Ramayana.

Haiwaan Budget and Recovery

Haiwaan was an official remake of the 2016 Malayalam thriller Oppam. The Rs 130 crore budget included approximately Rs 115 crore in production costs and another Rs 15 crore for print and advertising, according to a Times of India report.

The film opened to Rs 3 crore net on its first day, with Hindi occupancy at just 11 to 12 percent. By the end of its first weekend, it had collected Rs 7.35 crore net. It closed its theatrical run at Rs 9.92 crore net domestically.

The worldwide closing gross stood at Rs 15.05 crore, which was less than 12 percent of its reported budget. The domestic net collection of Rs 9.92 crore represented a recovery of only 7.63 percent of its costs, resulting in a financial deficit of approximately Rs 120.08 crore.

Before its theatrical release, the film had recovered roughly 70 percent of its budget by selling non-theatrical rights, including satellite, digital, and music, for about Rs 80 crore, mainly to Sony Network.

Director Priyadarshan spoke about the film’s failure. ‘The failure of Haiwaan, which I accept gracefully, proves again that audiences don’t like us to do serious subjects together,’ he told Deccan Chronicle. ‘This is not the first time I’ve failed in a non-comedy genre with Akshay. Many years ago, we did a film called Khatta Meetha, which starred Trisha Krishnan with Akshay. That too had underperformed. I don’t think the audience wants to see us in the non-comedic space.’

Mahakavya Shri Ramayan Katha Budget

Mahakavya Shri Ramayan Katha is a bilingual film shot in Hindi and Chhattisgarhi. It was directed by Abhishek Singh and produced by Prakash Mahobiya and Sanjay Bundela under Mahobiya Films Production Pvt Ltd.

The film’s production budget has not been officially confirmed by the makers. Trade reports describe it as a small-budget mythological film, made with limited resources compared to other Ramayana adaptations.

The film stars Dev Sharma as Lord Rama, Anjali Arora as Devi Sita, Sheel Verma as Lakshman, Nirbhay Wadhwa as Hanuman, and Rajniesh Duggal as Ravan.

On its opening day, the film collected between Rs 10 lakh and Rs 19 lakh net, according to different trade trackers. It was released across 521 to 610 shows and had occupancy staying under 10 percent in most cities.

Director Abhishek Singh said the film focuses on love, faith, and sacrifice. ‘The Ramayana contains everything, love, family, sacrifice, courage, devotion, duty and the eternal conflict between dharma and adharma. But at the centre of this vast epic are deeply human emotions,’ he said at the trailer launch.

Dev Sharma, who plays Lord Rama, said, ‘Playing Shri Ram is not a role one can approach simply as an actor. His name carries the faith and emotions of millions of people, and that brings with it an enormous responsibility.’

Anjali Arora, who plays Sita, said, ‘For me, playing Mata Sita has been one of the most emotional and responsible journeys of my life. She represents immense strength, dignity, patience and faith.’

Box Office Contrast

The two films represent opposite ends of the budget spectrum. Haiwaan had a reported budget of Rs 130 crore and failed to recover even 10 percent of it from domestic theatrical collections. Mahakavya Shri Ramayan Katha, meanwhile, is a much smaller production that released with minimal promotional spend.

The larger Ramayana adaptation, Nitesh Tiwari’s Ramayana: Part One, is mounted on a reported budget of Rs 4,000 crore. It stars Ranbir Kapoor as Lord Rama, Sai Pallavi as Devi Sita, Yash as Ravana, Sunny Deol as Lord Hanuman, and Ravi Dubey as Lakshmana. That film is scheduled for release this Diwali.

Priyadarshan has said he will stick to comedy with Akshay Kumar in the future. ‘I don’t think the audience wants to see us in the non-comedic space,’ he said. Their comedy collaborations, including Hera Pheri, Bhagam Bhag, and Bhool Bhulaiyaa, were significant commercial successes.

As of September 26, 2026, Haiwaan has ended its theatrical run. Mahakavya Shri Ramayan Katha is still in cinemas, with its opening weekend collections yet to be fully reported.