Piku piques audience interest; collects Rs 5.5 cr on Day 1

The film opened to around 50% occupancy, with the evening shows gathering steam as positive word of mouth picked up

Piku, a film about a Bengali father-daughter duo living in Delhi’s Chittaranjan Park, looks set to become the first success for MSM Motion Pictures, the film production arm of Multi Screen Media India (MSM), the company that runs channels such as Sony Entertainment Television, Sab TV and Sony Max. The film, starring Amitabh Bachhcan, Deepika Padukone and Irrfan Khan, opened brightly on Friday due to positive word-of-mouth influence, and collected Rs 5.5 crore in its first day at the box office.

Directed by Shoojit Sircar, the film is co-produced by MSM Motion Pictures, Saraswati Entertainment and Rising Sun Films, and distributed worldwide by Yash Raj Films. This is MSM Motion Pictures’ fourth film after the label’s launch in 2013. Its three earlier movies, Bajatey Raho, a co-prediction with Eros International, Darr@the Mall and Youngistaan did not make a mark at the box office.

Piku opened to around 50 per cent occupancy, with the evening shows gathering steam as enthusiasm picked up. According to sources in the know, exhibitors in cities like Ahmedabad and Bengaluru have increased the number of daily shows per day at their theatres after noticing heightened demand for the film. The ticket rates have not increased though, with the film showing with the regular weekend hike of around 10 to 15 per cent in ticket prices.

Analysts believe that the film has the potential to collect around Rs 18 crore over the weekend. Suniel Wadhwa, independent distributor and box office analyst, says, “While Piku was a slow starter, with every passing show the trend has been on the up, especially in premium multiplexes. With good reviews and word of mouth, it should have a good weekend with collections of Rs 18-20 crore.”

However, he points out that to to recover the production costs, the film has to sustain for at least 2-3 weeks at the box office. “This will be a challenge since the film will face fierce competition the coming releases of Bombay Velvet and Tanu Weds Manu 2,” says Wadhwa. “It has to have a good hold on weekdays to sustain a longer run.”

The movie’s landing cost is estimated to be Rs 32 crore. It has, however, managed to hedge risks in its favour with ancillary revenues flowing in even its launch. Industry estimates peg the revenue from music rights at Rs 3 crore, while a whopping Rs 20 crore has come from brand associations, with brands like Red Label, Fiat, Amul Milk, Lifestyle, Himalayan (bottled water) and Syska associating themselves with the movie. These associations are in the form of special campaigns around the movie featuring its actors/characters and/or in-film placement.

The film’s broadcast rights have not been sold. Kept in-house, MSM will show the the movie on its channels, SET and Sony Max, whenever it deems appropriate.

The film was also released in the United Arab Emirates, the United Kingdom, Australia and the United States. Early estimates from the 500 screens overseas show encouraging collections.

The film’s current competition includes Akshay Kumar’s Gabbar and Marathi film Time Pass 2.