Dhamaal 4 Ending Explained: Treasure Hunt, Family Twist and Dhamaal 5 Setup

Spoiler Warning: This article contains major spoilers for Dhamaal 4.

Dhamaal 4 brings the popular comedy franchise back with another chaotic treasure hunt filled with greed, family drama, dangerous adventures and ridiculous situations. Directed by Indra Kumar, the film arrived in theatres on July 10, 2026, with Ajay Devgn, Riteish Deshmukh, Arshad Warsi, Jaaved Jaaferi and Sanjay Mishra among the ensemble cast.

But beneath all the comedy, the movie eventually delivers a surprisingly simple message: the real treasure is not gold, but the people who stand beside you when everything goes wrong.

So what exactly happens to the treasure, Guddu and Alia’s children, Lallan and Paro, and Adi-Manav? And what does that mysterious map at the end mean?

The Story Begins With Shaitan Singh’s Lost Treasure

The central mystery begins about 100 years before the main story.

A feared dacoit named Shaitan Singh steals a huge amount of gold from the British. Before they can recover it, Shaitan hides the treasure somewhere near a mysterious island and leaves behind a map showing its location.

Shaitan is eventually killed, but the treasure remains undiscovered.

The story then jumps forward to 2026, when a man named Prithvi becomes the key to finding it.

Prithvi possesses the treasure map, making him the target of several dangerous people. Unfortunately for everyone chasing him, the physical map is accidentally destroyed.

There is one major problem: Prithvi has memorised the route.

That means keeping him alive becomes more valuable than possessing the map itself.

How Guddu Gets Involved in the Treasure Hunt

Guddu is already trying to locate Prithvi when he becomes caught in the treasure hunt.

At the same time, Guddu has another challenge in his life. He loves Alia and wants to marry her, but Alia has two children, Aarav and Neha.

The children do not want anyone replacing their father.

Alia therefore suggests that Guddu spend time with them on a trip so they can understand each other better.

What is supposed to be a simple family trip soon turns into a dangerous treasure-hunting adventure.

After Guddu encounters Prithvi again, Aarav and Neha also discover the secret of Shaitan Singh’s treasure.

Prithvi Reveals the Location

Eventually, Prithvi finds himself hanging over a cliff.

Believing that he may die, he finally reveals the route.

The group must travel approximately 50 kilometres until they reach an island. On the island, they need to locate a giant formation resembling the letter “M.”

Behind it is a tunnel.

Inside that tunnel, they must find something shaped like an “O”, where the treasure is hidden.

Prithvi then falls from the cliff, apparently taking the final secret with him.

Now everyone knows where the treasure is.

And naturally, everyone wants to reach it first.

Everyone Races Toward the Island

The treasure hunt splits the characters into different groups.

Lallan and Paro travel toward the island hoping to become rich.

Adi, Manav and Anjali take another route.

Guddu, Johnny, Aarav and Neha also continue toward the island.

Their journey becomes classic Dhamaal chaos involving dangerous weather, boats, wild animals, accidents and one disaster after another.

Eventually, all the groups locate the mysterious “M” formation and enter the tunnel.

Inside, they discover skeletons of earlier treasure hunters—an obvious warning that finding the treasure may be easier than escaping with it.

They eventually discover a hollow wall.

After breaking it open, they finally see what they have risked everything for:

Shaitan Singh’s massive hidden treasure.

Why Nobody Gets to Enjoy the Treasure

Just when everyone believes they have won, the pirate-like villain returns.

And he is not alone.

Prithvi is still alive.

Instead of dying after falling from the cliff, Prithvi apparently landed in water and survived. He later showed the villain the way to the treasure.

The villain takes control of the gold and orders the others to be killed.

But during the battle, explosions begin damaging the cave.

The entire tunnel starts collapsing.

Suddenly, gold becomes meaningless.

Everyone is now fighting only to stay alive.

Lallan Finally Chooses Paro Over Money

One of the biggest character changes belongs to Lallan.

Throughout the story, he is obsessed with becoming rich. He originally becomes interested in Paro because he mistakenly believes her family has money.

But during the cave collapse, Paro believes her weight will prevent her from escaping.

She gives Lallan her property papers and tells him to save himself.

Instead, Lallan refuses to abandon her.

He admits that greed has controlled him for too long and decides that either they escape together or neither of them will.

For the first time, Lallan chooses a person over money.

Adi Chooses Manav — and Anjali Finally Understands

Anjali had earlier asked Adi to choose between her and Manav.

During the escape, however, Manav risks his own life to save Anjali.

Adi then makes his choice clear.

If forced to choose, he will always choose Manav—even if it costs him his marriage.

Instead of becoming angry, Anjali finally understands their bond and accepts that Manav will remain part of their lives.

Why Aarav and Neha Call Guddu “Papa”

Guddu receives the movie’s most emotional payoff.

During the cave collapse, he puts his own life in danger to save Aarav and Neha.

The children finally understand that Guddu is not trying to erase their biological father.

He genuinely cares about them.

After surviving, Aarav and Neha stop treating him simply as Guddu.

They call him “Papa.”

For Guddu, this becomes more valuable than any amount of hidden gold.

Dhamaal 4 Ending Explained

By the end, the characters realise that although they failed to leave with Shaitan Singh’s treasure, each of them gained something more important.

Guddu gains a family.

Adi keeps both Manav and Anjali in his life.

Lallan finally finds someone he values more than money.

Even the villain experiences a change after remembering that Guddu saved his life despite everything he had done.

The treasure hunt therefore ends without giving the characters the fortune they originally wanted.

Instead, it changes what they consider valuable.

Does Dhamaal 4 Set Up Dhamaal 5?

There is one final surprise.

Manav has secretly brought something out of the treasure cave.

It is another treasure map.

Prithvi, who is revealed to still be alive, is able to decode it.

The group suddenly has another possible treasure hunt waiting for them.

So rather than completely closing the story, the final map works as a potential setup for another Dhamaal adventure.

Whether it ultimately becomes Dhamaal 5 would depend on an official announcement, but within the story, the message is obvious:

the Dhamaal gang may not be finished chasing treasure yet.

Final Thoughts

Dhamaal 4 ultimately uses its treasure hunt to bring several character arcs together.

Everyone begins the journey wanting something—money, marriage, acceptance or security.

By the ending, they understand that the people standing beside them matter more than the gold buried beneath the island.

And just when it appears they have finally learned their lesson, another treasure map appears.

Because apparently, with this gang, one treasure hunt is never enough.