That's the biggest question. Answer is only a "Probability" as can't be said certainly.
Why it can be "Yes"
Because Army wants not just the tank but rather a Universal Combat Platform on which several other systems may fit. Ironically Arjun is also a potential multipurpose test bed which still now hasn't been put into much dimensions. SPA , BLT ,AEV, ARV several systems yet to be seen in large nos. When one working system already exists then why is the need of a new system, replacing all of them? Clearly, this will kill Arjun.
Why the anwer may be "NO"
Indian Army clearly mentioned FRCV is to replace T-72s, we have many systems based on T-72 (Ajeya)systems too. Army is possibly seeking a "Futute Ajeya" platform, a 50T system. This will help evaluating our own NGMBT. Clearly there are not much tank systems exist which can replace role of T-72 still be within 50T. So basically they will not do work of Arjun. Arjun Mk 2 definately going to see cinsiderable no in service .