At the end of "Baahubali 2: The Conclusion," the story culminates in a dramatic showdown. After revealing the truth about his lineage, Amarendra Baahubali's son, Mahendra Baahubali, seeks revenge against the treacherous Bhallaladeva, who killed his father. In an epic battle, Mahendra defeats Bhallaladeva and reclaims the throne of Mahishmati. The film concludes with Mahendra ascending the throne, honoring his father's legacy, and promising a just reign. The narrative highlights themes of loyalty, honor, and the importance of rightful leadership.

As of now, there has been no official announcement regarding "Baahubali 3." Director S.S. Rajamouli and the producers have indicated that while "Baahubali: The Beginning" and "Baahubali 2: The Conclusion" form a complete narrative, there are potential ideas for a sequel or spin-off. However, any future project would depend on various factors, including script development and audience interest. Fans are eager for more content from the Baahubali universe, but for now, there are no confirmed plans for a third installment.

"Baahubali 2: The Conclusion," released in 2017, was a massive hit both critically and commercially. It became the highest-grossing Indian film at the time, earning over ₹1,800 crore (approximately $260 million) worldwide. The film received praise for its grand scale, visual effects, and storytelling, solidifying its status as a landmark in Indian cinema. Its success contributed significantly to the popularity of the "Baahubali" franchise, making it a cultural phenomenon.

As of now, there has been no official announcement regarding a third installment, "Baahubali 3," or its villain. Director S.S. Rajamouli has hinted that the story could continue, but specific details about the plot or antagonist are still under wraps. Fans are eagerly awaiting any updates, but until then, any information about the villain remains speculative. The franchise has previously featured characters like Bhallaladeva and Kattappa as central antagonists, so it's uncertain if new characters will emerge or if existing ones will return.