When you say "back to original condition," do you mean back to a safe firing condition for center fire rounds, as in be able to fire .357mag again?
If that is the question, then probably not. If you send it back to Ruger, you'd be into it $150-200 for the barrel, $200+ for the cylinder, then about $75 into a new trigger, hammer, pawl, and locking bolt - and of course, you'll be into it for a lot of labor. That is, if Ruger even agrees to take on the job, which I'd bet they will not. If you take on the job yourself, you can pick up a take off barrel for $50-150, a take off cylinder for $75-125, and then action parts new or used for $50-75. You'd have a lot of smithing labor to time the action parts, then have some lathe work to set the barrel back, then set barrel gap, re-cut the forcing cone...
Am I correct in assuming the rear sight has been removed? How much, if at all, has the top strap been reprofiled? It may not take a rear sight if it has been too significantly modified, or might not be worth the labor cost to weld and rebuild if it has.
So the answer to the question - can it be rebuilt without breaking the bank - is maybe, but probably not.