<I>Phantom</I> opens strongly on festive weekend, makes Rs 8.5 crore

Film was released in 2500 screens across the country and has been co-produced by Sajid Nadiadwala and UTV Motion Pictures

Released on the Onam and Rakshabandhan weekend, Saif Ali Khan-starrer Phantom netted Rs 8.46 crore at the box office on its opening day. This is among director Kabir Khan’s best solo film openings. It has opened ahead of movies like Drishyam (Rs 8 crore) and Bombay Velvet (Rs 5.5 crore), but behind movies like Tanu Weds Manu Returns (Rs 8.85 crore), Dil Dhadakne Do (Rs 10.53 crore) and ABCD 2 (Rs 14.3 crore).

Phantom, which was released in 2,500 screens across the country has been co-produced by Sajid Nadiadwala and UTV Motion Pictures. It is based on Hussain Zaidi’s book, Mumbai Avengers, which in turn is based on the 26/11 Mumbai terror attacks .

Traditionally, the terror genre has been slow in making its presence felt at the box office. Earlier this year, Akshay Kumar’s Baby opened with Rs 9.3 crore on January 23.  Suniel Wadhwa independent distributor and box office analyst explains: “Phantom had a reasonable first day as it grossed Rs 8.5 crore net (after tax). Contribution from metros and mini Metros gave a boost to the collections. The film is aiming for a collection of Rs 30-32 crore net.”

The film has been made on a budget of Rs 55 crore. This means that the film will need to register total revenues of Rs 110-115 crore in order for the producers to make profit. Given that the box office has no major releases coming up, this should not be a difficult task.

Even if the box office collections reach the Rs 70-80 crore mark in India, international collections, music and satellite rights fees should see the movie make profits.