Jio Studios has been on a roll, and now the big boss himself has taken notice. In his latest letter to shareholders, Reliance Industries chairman Mukesh Ambani gave a massive shoutout to the studio’s blockbuster run, especially the Dhurandhar franchise. And behind this success story is Jyoti Deshpande, the woman who transformed the banner from scratch into a box-office powerhouse.
Ambani’s Letter: A Historic Shoutout
Mukesh Ambani didn’t hold back in his praise. He revealed that the Dhurandhar franchise captured over 40% of India’s box office — a staggering feat. “It achieved an unprecedented 40%+ of India’s box office,” he wrote, according to the letter. The chairman also highlighted that Jio Studios has had the highest-grossing film three years running: Stree 2 in 2024, Dhurandhar in 2025, and Dhurandhar: The Revenge in 2026. “Demonstrating consistency and undisputed leadership,” Ambani noted.
What made the franchise truly unique was the release strategy. The first film hit cinemas in December 2025, and the sequel followed just three months later in March 2026. Ambani pointed out that no film franchise anywhere in the world had ever been conceived, financed, and shot as two parts releasing so close together. The gamble paid off big time — the first part became the highest-grossing Indian film of all time, running for 15 straight weeks until the sequel arrived and smashed its own records.
Jyoti Deshpande’s Vision: Playing for the Upside
This extraordinary run isn’t luck, says Jyoti Deshpande. In a recent conversation, she revealed the thinking behind greenlighting Dhurandhar. “I always play for the upside,” she explained. “We thought even if this does Rs. 400-500 crores, we’ll be home.” That number turned out to be just the starting point. The franchise went on to rewrite box-office history and become a cultural phenomenon.
Deshpande credits the studio’s consistent strategy. “The fact that three years in a row — Stree 2, Dhurandhar, Dhurandhar: The Revenge — top three films of 2024, 2025, and 2026 have been ours shows it’s not an accident,” she said. “It’s not a one-trick pony.” She lives by a mantra inspired by the film itself: “Nazar aur sabr” — vision and patience — combined with rigour. “You can’t greenlight something just because an actor is available,” she added. “All departments need to fire to make that magic.”
The Power of ‘No’: Discipline Behind the Magic
Deshpande admits the toughest part of her job is saying no. “The power of no is not easy,” she shared. “You are tempted to say yes to substandard stories and think you’ll repair it along the way.” Her criteria? The uniqueness of the premise, the conviction of the filmmaker, and ensuring most of the budget shows up on screen rather than on below-the-line activities.
For Deshpande, the recognition from the Ambani family is deeply meaningful. She has overseen Jio Studios’ journey since its inception, and this validation from the chairman himself is a testament to her vision. With Dhurandhar setting new benchmarks, the studio isn’t slowing down — and neither is its head honcho.