Ranbir Kapoor, Alia Bhatt and Vicky Kaushal starrer has already recovered over ₹200 crore through non-theatrical deals, distributors now battle for theatrical rights
The Ranbir Kapoor, Alia Bhatt and Vicky Kaushal starrer is attracting strong interest from some of the biggest distribution houses in the country. According to exclusive trade information, Dharma Productions, Zee Studios and Pen Marudhar, the distribution arm of Pen Studios, are currently in the race to acquire the film’s theatrical distribution rights.
The negotiations are taking place around the ₹220 crore mark, making this the most closely watched pre-release deal.
With Love & War scheduled to arrive in cinemas on January 21, 2027, distributors still have several months to finalise the deal. However, the scale of the negotiations shows the confidence surrounding Bhansali’s next, particularly because the film brings together three of the most bankable names of the current generation.
₹200 Crore Already Recovered Before Release?According to the KBP REVIEW information doing the rounds, the film has already recovered more than ₹200 crore through non-theatrical avenues. Netflix has reportedly acquired the post-theatrical streaming rights for approximately ₹130 crore, while music and satellite rights are said to have generated another ₹70-80 crore.
The ₹220 crore theatrical asking range particularly interesting. For the makers, a strong theatrical deal could substantially reduce the pressure of recovering the film’s reported production cost through the box office alone.
Bhansali is returning with a large-scale emotional drama after Gangubai Kathiawadi, while Ranbir is once again collaborating with the filmmaker who gave him his debut in Saawariya. Alia, meanwhile, reunites with Bhansali after the success of Gangubai Kathiawadi.
Vicky Kaushal is entering Bhansali’s world for the first time, adding another major attraction to the project. The film also brings Ranbir and Alia together again after Brahmāstra: Part One – Shiva, while Vicky has previously shared screen space with both actors in Raazi and Sanju, respectively.
That combination gives distributors multiple selling points like star power, director value, scale, music potential and the curiosity surrounding Bhansali’s storytelling.
The film was originally announced for a Christmas 2025 release, before being pushed to March 20, 2026. It was later expected to arrive in August 2026, but the release was pushed again. The makers finally locked January 21, 2027 as the theatrical release date.
The latest date gives the film a Republic Day-period advantage, with the holiday falling shortly after its release. The film is also planned for release in Hindi, Tamil and Telugu, giving it a wider theatrical footprint beyond the core Hindi market.
Ranbir himself had previously acknowledged that the delay was connected to the scale of the project, indicating that the film requires considerable time to bring Bhansali’s vision to the screen.
Earlier reports had placed the film’s budget at around ₹350 crore, while subsequent reports suggested that rising production costs had pushed the figure significantly higher.
Bollywood Hungama later reported that the film’s “real budget” was around ₹350 crore, disputing higher figures that had circulated earlier. Whatever the final accounting may be, there is no denying that Love & War is being mounted on a scale far beyond a conventional romantic drama.
A deal around ₹220 crore would put considerable faith in the film’s ability to generate strong theatrical business. At the same time, the reported ₹200 crore-plus non-theatrical recovery provides the producers with a degree of financial cushioning.
[ EXCLUSIVE ]: Love & War First Look to Drop on Independence Day; Ranbir Kapoor, Alia Bhatt & Vicky Kaushal’s Character Posters Ready
The film is understood to revolve around an emotional relationship triangle set against a backdrop of conflict and duty. Ranbir and Vicky have reportedly been portraying Air Force officers, with BTS images of the two actors in uniform already creating considerable buzz online.
The combination is particularly interesting because all three actors are coming into the project with strong recent filmography. Ranbir has Animal and the upcoming Ramayana franchise, Alia continues to remain one of Hindi cinema’s most sought after performers, while Vicky has strengthened his commercial standing with films such as Chhaava.
Vicky Kaushal underwent a significant physical transformation for Love & War, with reports claiming that he first gained around 12 kg before losing approximately 15 kg for different phases of the project.
Such transformations have become a familiar part of Bhansali’s process, where costumes, physical appearance and period detailing are often treated as extensions of the characters themselves.
The strict secrecy around the film has also kept curiosity alive. As the Reports, Bhansali enforced a no-phone and no-leak policy on the sets, reflecting the filmmaker’s attempt to protect major story and visual details until the promotional campaign begins.
For distributors, the calculation will ultimately come down to one question: can the Bhansali brand combined with Ranbir, Alia and Vicky deliver the kind of theatrical pull required to justify such a massive investment?
And for audiences, the bigger question is whether Bhansali can create another cinematic world that justifies the enormous scale being attached to the film.
The wait is still long, but the business surrounding Love & War has already started making headlines. With ₹220 crore reportedly being discussed for theatrical rights, ₹200 crore-plus said to be recovered through non-theatrical avenues, and three major distribution giants competing for the film, the Ranbir, Alia and Vicky starrer is already proving to be a major event in Bollywood trade – months before its January 2027 release.
Also Read: ‘Haiwaan’ Teaser To Arrive On August 12; Akshay Kumar & Saif Ali Khan Reunion Set For September Release
The excitement around Haiwaan is set to rise further as the makers prepare to unveil the film’s much awaited teaser on August 12, 2026, according to the latest information from Pinkvilla.
The film brings together Akshay Kumar and Saif Ali Khan after nearly 18 years. The two actors last shared the screen in Tashan in 2008, making their reunion one of the biggest attractions of this upcoming thriller.
Directed by veteran filmmaker Priyadarshan, Haiwaan is being positioned as an intense suspense thriller rather than a conventional commercial entertainer. The film also features Shriya Pilgaonkar, Saiyami Kher, Kajol, Bobby Deol, Boman Irani and Jisshu Sengupta in important roles.
Adding another major attraction is the presence of Malayalam superstar Mohanlal, who is set to make a special appearance. Priyadarshan has confirmed Mohanlal’s involvement while keeping details about his character under wraps.
Interestingly, Haiwaan is an official Hindi adaptation of the acclaimed Malayalam thriller Oppam, also directed by Priyadarshan. The filmmaker has previously spoken warmly about working with both Akshay and Saif, describing the different working styles the two actors bring to his films.
With the teaser arriving on August 12, the promotional campaign is expected to finally reveal what Priyadarshan has created with Akshay and Saif after their long-awaited reunion
