Producer Vashu Bhagnani

Nearly four decades after its founding, Vashu Bhagnani’s Pooja Entertainment faces a significant financial crisis. Jackky Bhagnani, Vashu’s son who recently married Rakul Preet Singh, now manages the company’s operations.

Pooja Entertainment is downsizing after consecutive box office failures.

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Vashu Bhagnani has sold the seven-floor office of Pooja Entertainment to a builder. The buyer’s identity and the sale amount remain undisclosed, but the building will be demolished to make way for a luxurious residential project.

Vashu has also laid off nearly 80% of the staff and moved the office to a two-bedroom flat in Juhu. The layoffs began in January 2024 after Jagan Shakti’s film starring Tiger Shroff was shelved after shooting for one month.

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The workforce was further reduced in April after the release of Bade Miyan Chote Miyan, which earned only Rs. 60 crores net against an investment of Rs. 350 crores, resulting in losses of at least Rs. 200 crores. The building sale is intended to clear approximately Rs. 250 crores in debt to multiple financiers.

The financial troubles began with Bell Bottom, the first Hindi movie released post-COVID-19 in 2021, which flopped miserably at the box office. This was followed by disasters like Mission Raniganj and Ganapath, which Netflix rejected despite an acquisition deal.

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The investment in Bade Miyan Chote Miyan worsened the situation. The failure of this Ali Abbas Zafar directorial nearly crippled the company, leaving Vashu with no choice but to sell the building.

Despite these setbacks, Pooja Entertainment is not shutting down. They are proceeding with Shahid Kapoor’s Ashwatthama project announced a few months ago.

Pooja Entertainment has produced around 40 movies, including big hits like Coolie No.1, Hero No.1, Biwi No.1, and Bade Miyan Chote Miyan (1998). Their last hit was Mujhe Kuchh Kehna Hai in 2001, a remake of Tholi Prema.

Since then, they have produced over 25 films without a single hit, with notable flops including Himmatwala (2013), Humshakals (2014), Bell Bottom, Mission Raniganj, Ganapath, and the recent Bade Miyan Chote Miyan (2024).