Nope. Sholay grossed ₹30cr in its initial run, another ₹25cr
plus in its 80s re-run and ₹17cr in its 3D re-run in 2013. Now these are what official numbers back then, actual could be more as there was a huge black market collections as well common with every Blockbuster in that era. e.g. a theatre is 125% of capacity, the reported number would be under 100% only. Another practice that was common was the ticket sold were taken back and then sold again to keep the trail in number series of ticket.
By the time Maine Pyar Kiya released, Sholay standed at ₹55cr Approx plus and Maine Pyar Kiya grossed ₹28cr Approx.