I think it's pretty obvious. It's not a new game, which shaves off most of the big expenses.Right I don't care either way and seemingly Sony doesn't either but where are you getting this info from?
Graphical overhaul, new music, and some mo-cop work wouldn't have cost more than $10-$20 million. Bluepoint didn't have to create a story, stages, work on level design, create and test new. gameplay mechanics, etc.
If Demon's Souls sells 1 million copies (which it could very well have done by now, considering unofficial gameplay stats), it would have been a profitable project with a 200%+ ROI.