The film is set in Delhi, where four boys or "Fukrey" (a colloquial Punjabi term for slackers), who come together to make easy money. The group includes two school backbench students, Hunny (Pulkit Samrat) and Choocha (Varun Sharma), who are perpetually dreaming of making it big. Later through a college guard Pandit (Pankaj Tripathi) they meet Zafar (Ali Fazal), a struggling musician, and Lali (Manjot Singh) , whose father runs a sweets shop. Lali studies in college via correspondence course & has a girlfriend who studies in college. She doesn't want Lali to meet her friends as she is ashamed of him.Hunny & Choocha aspire to go to college & arrange to get their school exam papers 1 day in advance from Pandit for Rs 50,000. Each night Choocha has a dream, which Hunny later interprets as a lottery number, which they buy. They keep playing the small stakes lottery & keep winning each and every time.Lali wants to get into the regular day course at college and needs to score good marks in his 1st yr correspondence course. He is learning accounting from Bindu, who is Zafar's girlfriend. Bindu breaks up with Zafar as his music career is going nowhere but he refuses to take a steady job for the sake of his relationship with Bindu. Lali meets Hunny & Choocha & through them approaches Pandit for the 1st yr papers. Pandit says that for Rs 2.5 Lakhs he will get Lali a college seat. Lali's dad refuses.Zafar's dad suffers a stroke & he needs Rs 1.5 Lakhs for his treatment. The 4 get together at Pandit's shack where Hunny floats the idea of gathering enough money to invest in the next lottery based on Choocha's dream. Once they win the lottery, they will have enough money to pay for everyone's requirements. They need an investor. Zafar involves a local gangster, Bholi Punjaban (Richa Chadda) into their scheme. Bholi is a female madame with various illegal businesses including escorting, property eviction & fake bank transactions. Bholi agrees to put up the money when Lali offers to put up his father's shop as security guarantee. That night Choocha can't go to sleep because of the excitement but makes up a dream the next morning to save his ass from Hunny.The dream is fake & hence Hunny's number is also wrong. Bholi bets 4.4L on the number & looses. The group can't pay up, so Bholi gives them 500 ecstasy pills to sell at a rave party at Gurgaon FBD border. She keeps Choocha as hostage. Choocha thinks that Bholi has fallen for her.Hunny gets a girl from his neighborhood Priya to accompany him, Lali, and Zafar, so that they can gain access to the party. The party is raided by the police & the friends get dispersed. Lali escapes with the pills with the police behind him. Hunny tries to seduce Priya, while hiding from the police, & Priya hits him for trying to take advantage of him. Lali & Zafar reach Bindu's house at the same time. Bindu hides the pills & saves them from the police by saying that Lali is her student & Zafar is her fiance. Bindu says that she has flushed the pills. Lali panics as the pills are worth Rs 15 Lakhs.Bholi gets a call from a police inspector at the raid who informs Bholi that the boys escape with the drugs. Bholi reveals that the inspector had been tasked to get the drugs from the group in the raid so that she could pressure them for the cash, while having the pills as well. It was Bholi's scheme to scam the boys.The boys reach Bholi and beg for forgiveness. Bholi gives the boys 24 hrs to get Rs 25 Lakhs as payment. Now Choocha admits that his first dream was fake, but now he has had another dream and that is real. But now they don't have an investor. This whole conversation happens at Bindu's house & she agrees to invest the money. They win the lottery & return the money to Bholi. They also strike a deal with her to buy an additional Rs 7 Lakhs worth of ecstasy pills. When Bholi emerges from her bathroom with the pills, the police is waiting for her. Turns out the guys had confessed to the police & hatched a plan to arrest Bholi by getting her red handed with the pills. Hunny & Choocha finally do get to go to college in 3 months.