📷 Image Credits: Mint
In a recent development, film producer Vashu Bhagnani has made headlines by selling Pooja Entertainment’s Mumbai office to repay a hefty debt of ₹250 crore. The decision comes after a string of consecutive box office failures, including Badhe Mia Chote Mia, Bell Bottom, Ganapath, Mission Raniganj, among others. The production house, co-owned by Vashu and Jackky Bhagnani, has been facing financial turmoil leading to the downsizing of its operations and a significant reduction in workforce. Vashu Bhagnani had to lay off nearly 80% of employees and relocate the office to a two-bedroom flat in Mumbai as a cost-cutting measure.
The troubles for Pooja Entertainment began with the disappointing performance of movies like Bell Bottom, Mission Raniganj, and Ganapath, which failed to live up to box office expectations. The situation worsened with the release of Badhe Miya Chote Miya, a big-budget film starring Akshay Kumar and Tiger Shroff, which underperformed significantly, generating only ₹59.17 crore against a hefty investment of ₹350 crores.
Amid mounting debts and financial challenges, Vashu Bhagnani took the hard decision to sell the company’s Mumbai office to repay creditors. Despite the setbacks, the Bhagnani duo is determined to bounce back and revitalize the three-decade-old production house. Plans are already underway for future projects, including the upcoming Ashwatthama project starring Shahid Kapoor.
However, the production house has faced criticism from crew members for delayed payments, with several individuals taking to social media to express their grievances. Despite the turmoil, Vashu and Jackky Bhagnani are committed to revitalizing Pooja Entertainment and steering it towards a successful future in the Indian film industry.
