Director Puri Jagannadh’s film, “Double iSmart,” proved to be yet another financial fiasco. Though the film closed a good OTT deal, it performed badly in the theaters.
Producer Niranjan Reddy purchased the entire theatrical rights for a hefty Rs 60 crore. He will suffer a heavy loss.
Niranjan Reddy made a lot of money with “Hanu Man,” one of the year’s biggest blockbusters. Niranjan Reddy paid a hefty sum for the film’s theatrical rights, betting heavily on Ram Pothineni and Puri Jagannadh’s combination since their previous collaboration, “iSmart Shankar,” was a sensational hit.
Reports indicate Niranjan Reddy may lose more than Rs 40 crore on his investment.
Puri Jagannadh, however, has promised to compensate him. There is speculation that Puri Jagannadh may direct a film under Niranjan Reddy’s banner, Primeshow Entertainment.
