PVR Inox share price jumped nearly 3% on Wednesday. The shares had recorded some gains earlier in December last year when the first instalment of the Dhurandhar franchise arrived in theatres and broke box office records.
Prabhudas Lilladher (PL Capital) in its report noted that Dhurandhar: The Revenge has already amassed Rs 40.5 crore gross in paid previews, as per Sacnilk. “Advance ticket sales for March 19, 2026 (Day 1) have already crossed Rs 29 crore gross. Given exciting initial trends, we believe the movie may well break into the ‘All Time Highest Hindi Advance Bookings’ list and achieve the top spot by toppling KGF 2,” it said.
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Why Dhurandhar 2 can overtake Dhurandhar 1 in box office collections
The first instalment of Dhurandhar became the first Hindi film to cross the Rs 800 crore mark in India in terms of net collections. Dhurandhar: The Revenge can surpass the collections of its predecessor, PL Capital said, citing several reasons such as the postponement of the movie Toxic, allowing the Ranveer Singh-starrer to enjoy a solo run, release timing coinciding with festivals like Eid and Gudi Padwa, and blockbuster pricing.
Additionally, unlike its predecessor which was released only in Hindi, Dhurandhar: The Revenge will be released in Hindi, Telugu, Tamil, Kannada and Malayalam, which can lead to better footfalls.
In its bull case, PL Capital sees Dhurandhar: The Revenge recording a net box office collection surpassing Rs 1,000 crore. In its base case, the wealth management company sees the film collecting Rs 840 crore to Rs 1,000 crore.Even the bear case suggested by PL Capital remains strong, as it sees the film collecting at least Rs 840 crore. “Patrons who have seen Dhurandhar are likely to see Dhurandhar: The Revenge. Thus, the sequel should earn at least as much as the prequel,” it said.
How Dhurandhar: The Revenge can boost PVR Inox’s earnings
“With 14 days left for the quarter to end, industry-wide box office collections stand at approximately Rs 15 billion in Q4FY26E. However, Dhurandhar: The Revenge has the potential to salvage the quarter for PVR-INOX, which otherwise appears to be a bit lukewarm as, barring Border 2, none of the Bollywood movies like O’Romeo, Mardani 3 or The Kerala Story 2 have been able to strike a chord with the audience,” PL Capital said.
If Dhurandhar: The Revenge collects around Rs 1,000 crore and 75% of the collections accrue in the first 14-15 days, industry-wide box office collections for the quarter will be similar to Q4FY25, the firm said. “Thus, Hamza’s revenge is likely to benefit PVR-INOX in Q4FY26E. We have a BUY on the stock with a target price of Rs 1,274 (9.5x FY28E EBITDA),” it added.
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