Pooja Entertainment, once a powerhouse in Bollywood with a string of successful films, is now grappling with a severe financial crisis. Recent reports indicate the production house is dealing with mounting challenges following a series of underperforming movies and significant operational changes.
The trouble began post-pandemic with the release of Bell Bottom in 2021. Although it was one of the first major Hindi films to return to theaters after COVID-19 restrictions, it failed to perform at the box office. Subsequent releases, including Mission Raniganj and the high-budget Ganapath, also underwhelmed, compounding the financial strain on the company.
Most recently, Bade Miyan Chote Miyan, starring Akshay Kumar and Tiger Shroff, failed to make an impact and sank without a trace. This latest failure has put the company in a precarious position, leading to widespread layoffs and operational downsizing.
According to sources, Pooja Entertainment has laid off around 80% of its staff since January 2024. These layoffs followed the shelving of a film starring Tiger Shroff, which had struggled to begin production for two years. The situation worsened after the release of Bade Miyan Chote Miyan in April, prompting further cuts.
The company has also moved its base of operations from its established office to a modest two-bedroom flat in Juhu. Additionally, there are reports that Vashu Bhagnani, the veteran producer and founder of Pooja Entertainment, is selling the office amid these financial difficulties.
Adding to their woes, Pooja Entertainment has been called out by several crew members for non-payment. These allegations further tarnish the company’s reputation and highlight the depth of its current financial troubles.
Vashu Bhagnani, who was born in Kolkata and initially worked in construction, made a name for himself in Bollywood by producing successful films. He entered the film industry with David Dhawan’s hit Coolie No. 1 in 1995 and continued his success with films like Hero No. 1, Biwi No. 1, and Rehna Hai Terre Dil Mein. Over his career, Bhagnani has been associated with numerous hits, amassing a reported net worth of approximately Rs 2500 crore.
Bhagnani also launched his son, Jackky Bhagnani, into Bollywood with Kal Kissne Dekha in 2009. Despite the film’s poor performance, Vashu Bhagnani continued to produce several more projects featuring Jackky, such as Faltu and Youngistaan.
With no official statement from the production house yet, the industry is watching closely to see how one of its long-standing players will respond to these setbacks.
