The film unfolds in Delhi, centering around four boys, affectionately referred to as "Fukrey," which means slackers in Punjabi. This dynamic group consists of two dreamers, [Hunny](pulkit-samrat) and [Choocha](varun-sharma), who are notorious for their laid-back attitude and desire to make quick money. Their adventure begins when they cross paths with [Pandit](pankaj-tripathi), a college guard, and [Zafar](ali-fazal), a struggling musician. Alongside them is [Lali](manjot-singh), whose father manages a sweets shop; Lali is enrolled in a correspondence course and is juggling the challenges of a girlfriend who is embarrassed by his background and would prefer he not meet her friends.
Driven by their aspirations, Hunny and Choocha devise a plan to obtain their school exam papers ahead of schedule from Pandit for a hefty sum of Rs 50,000. Intriguingly, Choocha has a series of dreams that Hunny believes contain winning lottery numbers, prompting them to invest in small-scale lottery tickets, leading to a string of unexpected victories.
Meanwhile, Lali aims to transition into a regular college program, needing impressive results from his correspondence studies. He takes finance lessons from [Bindu](priа-anand), who happens to be Zafar's girlfriend, and who decides to end her relationship with him due to his unambitious nature regarding his music career. Feeling the pressure, Lali turns to Hunny and Choocha for assistance, approaching Pandit about securing his college place, but is met with an unreasonable demand of Rs 2.5 Lakhs, which his father firmly rejects.
Tragedy strikes when Zafar's father suffers a stroke, requiring urgent medical funds of Rs 1.5 Lakhs. Together, the four boys congregate at Pandit's spot where Hunny proposes that they amass a sum to bet on the next lottery, inspired by Choocha's dream. Their ambition is to win big enough to cover everyone's needs, but they require funds to get started. Zafar subsequently introduces a local gangster named [Bholi Punjaban](richa-chadda) into their scheme—a cunning woman who runs a variety of illicit operations. She consents to invest after Lali offers to stake his father's shop as collateral.
As excitement mounts, Choocha's restless night of eager anticipation leads him to fabricate a dream. However, when the numbers prove false, the stakes escalate as Bholi loses a considerable amount on her bet. Faced with the repercussions, she coerces the group into selling 500 ecstasy pills at a rave in Gurgaon, holding Choocha hostage as leverage. In a twist of fate, Hunny manages to enlist a girl from his neighborhood, [Priya](priya-anand), to aid their entry into the party.
Following a police raid, the group scatters, and desperate attempts to evade capture ensue. With Lali fleeing with the pills, the excitement leads to unforeseen complications, including Hunny's ill-fated attempt to charm Priya, who retaliates against his advances. Amidst the chaos, Lali and Zafar eventually find refuge at Bindu’s residence, where she cleverly shields them from law enforcement by claiming Lali is her pupil and Zafar her fiancé, even going as far as to flush the pills down the toilet—worth Rs 15 Lakhs.
Bholi soon discovers the boys have managed to slip away, orchestrating a trap to catch them in a web of deception. In a desperate plea, the boys seek her forgiveness, and she sets an ultimatum—come up with Rs 25 Lakhs within 24 hours. Choocha confesses that his prior dream was merely a fabrication but claims to have dreamt another one, which he believes to be genuine. They find themselves back at Bindu's house, and in an unexpected twist, she agrees to invest, leading to their eventual lottery win.
With renewed hope, they return the money to Bholi and strike a further deal to procure an additional Rs 7 Lakhs worth of pills. In a climactic turn of events, the police ambush Bholi just as she emerges with the contraband, having been tipped off by the boys who concocted a plan to trap her. Ultimately, Hunny and Choocha realize their dream as they finally secure their places in college within three months, emerging from these tumultuous escapades with a newfound understanding of ambition and friendship.
