According to Elara Securities, Pushpa 2 is well on its way to setting new records. It cited a frenzy among fans in core Hindi-speaking regions like Bihar during the trailer launch of Pushpa 2 and exceptional advance bookings, which reached ₹50 crore on Day 1 alone. By comparison, Baahubali had ₹45 crore in Day 1 bookings, Pathaan ₹23 crore, and Jawan ₹17 crore.
Pushpa 2 already creating records
Pushpa 2: The Rule has been one of the most eagerly awaited films since its announcement, generating immense excitement among fans. Social media platforms are abuzz with updates and discussions as anticipation for the release continues to build. Recognising the overwhelming hype, the Andhra Pradesh government has approved a ticket price hike for Allu Arjun and Rashmika Mandana’s upcoming blockbuster, a gesture that has left the actor feeling deeply grateful.
Bookmyshow recently posted an update on X, showcasing a poster that read, “1 million+ tickets booked in advance.” The advance booking numbers for Pushpa 2 clearly indicate that the film’s fever is “unstoppable.”
The buzz surrounding Pushpa 2: The Rule isn’t limited to India—it’s making waves internationally as well. In Oceania, the film has already achieved an impressive $700K in pre-sales, setting a record for the highest-ever opening for an Indian movie in the region.
In India, the film has surpassed 2.6 million interests on Paytm, marking the highest ever for an Indian movie. Meanwhile, North America is projected to deliver a $3+ million opening, positioning the film among the biggest Indian releases in the region, according to a report by Sacnik.
Pushpa 2 box office colection predictions
The first installment of the Pushpa franchise grossed ₹400 crore in India. With the franchise’s strong recall, Pushpa 2 has the potential to shatter records with a projected global collection of 20% more than ₹1,000 crore expected collection in India, said Karan Taurani, analyst at Elara Securities. Pushpa 2 is expected to garner ₹500 crore from Hindi collections and overall India collection has the potential to surpass the records of Baahubali 2 (₹1,200 crore) and KGF: Chapter 2 (₹1,000 crore).The Day 1 GBOC of Pushpa 2 is anticipated to touch ₹200 crore, with contributions of ₹100 crore from Andhra Pradesh and ₹80 crore from Hindi-speaking states. Other southern states are expected to contribute ₹15–20 crore. The first weekend collections could reach ₹500 crore, pushing December theatre occupancy above 40%, fueled by higher footfalls.
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Pushpa 2 a big help for Hindi box office
“Hindi gross box office collection (GBOC) is likely to grow 33% quarter-on-quarter (QoQ) in Q3FY25 to ₹1,700 crore, backed by strong performances from Singham Again and Bhool Bhulaiyaa 3, and the potential ₹500 crore grossing of Pushpa 2 (Hindi) alone,” said Karan Taurani.
Theatre occupancy in Q3FY25 is expected to average 30%, with Pushpa 2 alone driving a 40% occupancy rate in December, he added.
A robust content pipeline and a strong lineup for CY25 bode well for leading movie exhibitors.
Elara Securities’ analysis highlights a recovery in footfalls during the Diwali season, with occupancy improving to 25–27% in November, up from less than 20% in October. Despite this, average ticket prices (ATP) have remained flat due to the absence of Hollywood releases and promotional offers.
Recent Diwali releases performed well: Singham Again got ₹290 crore and Bhool Bhulaiyaa 3 earned ₹310 crore, Elara noted.
Other releases, including Devara Part 2 and The Sabarmati Report, added a combined ₹100 crore.
December promises a blockbuster month with major releases like Pushpa 2, Baby John, and Sitaare Jameen Par. Overall, Q3FY25 occupancy is expected to hit 29–30%, driving Hindi GBOC growth to ₹1,700 crore, up 33% QoQ.
Pushpa 2 likely success will be a boost for PVR INOX
The anticipated success of Pushpa 2 comes as a significant tailwind for multiplex operators like PVR INOX, whose overall GBOC (Hindi + non-Hindi) is expected to grow 29% QoQ in Q3FY25 to ₹800 crore.
Shares of PVR Inox Ltd climbed by nearly 1.5% today after global brokerage UBS reaffirmed its ‘buy’ rating on the movie exhibitor. UBS also raised its price target for PVR stock to Rs 2,000 per share, up from the previous target of Rs 1,950.
PVR INOX holds a 33% share of India’s Hindi GBOC and is projected to gross ₹560 crore from Hindi films in Q3FY25, representing 38% QoQ growth. Its non-Hindi GBOC is expected to grow 10–15%, supported by releases like Mufasa: The Lion King and Venom: The Last Dance, as well as regional hits like Pushpa 2 and Devara Part 2.
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After Pushpa 2, there’s robust pipeline for 2025
Looking ahead, CY25 is shaping up to be a blockbuster year for cinemas. Major Hollywood releases such as Captain America: Brave New World, Jurassic World, and Mickey 17 are expected to draw audiences, alongside domestic hits like Toxic and Rajasaab, and sequels of popular Hindi films.
PVR INOX is well-positioned to capitalize on this momentum, with occupancy gains potentially boosting ATP and SPH. Advertising revenues are also expected to improve with the release of high-profile content.
