Could Sanjay Leela Bhansali’s 'Love & War' become Bollywood’s next $35 million pre-release jackpot?

Highlights

• Theatrical rights reportedly discussed near $35 million.
• Netflix streaming deal said to be worth about $15 million.
• Music and TV rights may add another $8-9 million.
• Final shooting schedule reportedly underway in Mumbai.
• Release now set for January 21, 2027.

Sanjay Leela Bhansali’s upcoming epic Love & War is reportedly becoming one of Bollywood’s hottest trade stories months before audiences can buy a ticket. The period romantic war drama stars Ranbir Kapoor, Alia Bhatt, and Vicky Kaushal, and industry buzz suggests that several major companies are competing to secure its theatrical distribution rights.

According to reports cited by Variety India, negotiations are taking place around $35 million. If a deal at that level is finalized, it would place Love & War among the most valuable pre-release theatrical acquisitions in recent Bollywood history.

Why are studios reportedly fighting for the film?

Reports indicate that Dharma Productions, Zee Studios, and Pen Marudhar are among the companies interested in acquiring the theatrical rights. The unusually strong demand is believed to be driven by Bhansali’s brand value, the film’s large-scale period setting, and the first-time pairing of Ranbir Kapoor, Alia Bhatt, and Vicky Kaushal.

Bhansali is known for visually extravagant dramas such as Padmaavat, Bajirao Mastani, and Gangubai Kathiawadi, and the new film is being positioned as an epic romance set against the backdrop of war. The combination of a major director and three of Bollywood’s biggest contemporary stars has reportedly made the project especially attractive to distributors.

A theatrical deal of roughly $35 million would also significantly reduce the amount the producers need to recover through box-office collections alone.

Has the movie already recovered a large chunk of its budget?

Industry reports suggest that Love & War has already generated substantial revenue from non-theatrical rights. Netflix is said to have acquired the post-theatrical streaming rights for around $15 million.

The film’s music and satellite television rights are reportedly expected to contribute another $8-9 million. Combined, those agreements are believed to have pushed the film’s non-theatrical recovery beyond $23 million before release.

If the theatrical rights sale is completed near the reported figure, the movie could enter theaters with an exceptionally strong pre-release business position, easing financial pressure on the production.

What’s happening with the shoot and release date?

Production has reportedly entered its final phase. The last shooting schedule is said to have begun on August 3 at Royal Palms in Mumbai, with Bhansali aiming to wrap principal photography by August 31.

The final stretch reportedly includes two large-scale war sequences and elaborate dance numbers. Trade reports claim the action scenes involve roughly 50 stunt performers and 300-350 supporting artists, with around 10 days of rehearsal planned for combat choreography and crowd coordination.

Once filming is complete, Ranbir Kapoor is expected to focus on promotions for his other major project, Ramayana.

Love & War has already undergone multiple release-date changes. It was initially announced for Christmas 2025, later shifted to March 20, 2026, and then postponed again. The film is now officially scheduled to release in theaters on January 21, 2027.

With shooting nearing completion and major companies reportedly battling for distribution rights, Love & War is already shaping up to be one of the most closely watched Bollywood releases of 2027.