 "Producer Vashu Bhagnani turns his Mumbai office into 16-storey residential tower, to generate Rs 400 crore profit amid rumours of Rs 250 crore debt")
Pooja Entertainment is one of the leading production houses in the industry that has made some bonafide hits in their repertoire. However, their slate over the last few years only boast of turkeys and turds. Their latest dud Bade Miyan Chote Miyan sank without a trace.
The filmmaker was rumoured to be in a debt of Rs 250 crore but earlier this year, speaking to news agency ANI, the producer said he’s selling his Juhu office in Mumbai and converting the building to a 16-storey residence called Pooja Luminaire. And the man is likely to generate profits worth Rs 400 crore.
Who is Vashu Bhagnani ?
Bhagnani was born in Kolkata and began his career as a builder in the construction business. He ventured into film production with David Dhawan’s 1995 hit Coolie No. 1 and went on to produce films like Hero No. 1, Biwi No. 1, Rehna Hai Terre Dil Mein, Mujhe Kucch Kehna Hai, Om Jai Jagdish, Deewanapan, and Ghost. His reported net worth is around Rs 2500 crore.
He launched his son Jackky Bhagnani with the 2009 dud Kal Kissne Dekha and made further films like Faltu, Ajab Gazabb Love, Rangrezz, Youngistaan, and Welcome To Karachi with him.
Was the filmmaker under debt?
A source was quoted saying, “It all started with _Bell Bottom_ , which was one of the first Hindi movie to be released in theatres post the COVID-19 pandemic in 2021. The film flopped badly at the box office and so did the next one, Mission Raniganj.”
It added, “The company faced another setback when the big-budget Ganapath failed to perform and was even rejected by Netflix despite an acquisition deal. Red flags had already begun to appear in the company’s financial sheet by this point, and the enormous investment in Bade Miyan Chote Miyan made matters worse.”
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