They were for A:IW but after events of Baahubali 2, A:IW and Captain Marvel, they are actually overtly optimistic.
Sequels, unlike USA, are known to grow in India more often than not (in fact, it's rare to name the ones which didn't). So everyone thinks this one will pull a Baahubali 2. Not only trade, even people who have thing for boxoffice thinks same. I have atleast 2-3 tweets everyday asking if Endgame will do Baahubali 2 numbers.
Two of my sources