New Delhi, April 23 -- NEW DELHI: As Alpha, the Alia Bhatt-starrer female spin-off to Yash Raj Films' Spy Universe, which includes hits like Pathaan, readies for release later this year, trade experts say Bollywood still lags Hollywood in building high-profile, female-led franchise extensions.

Unlike the West, where films such as Wonder Woman and Black Widow have proven audience pull for women-led entries within larger cinematic universes, Indian studios have been slower to back big-budget action spectacles anchored by female stars-even when they sit inside established franchises.

Malayalam cinema has taken early steps in this direction with Lokah Chapter 1: Chandra, a female superhero film released last year. In Hindi cinema, comparabl...