Hanuman producer Niranjan Reddy has spent more than two years on the film and Hanuman brought huge profits for him. The film released early this year and Niranjan Reddy released the film on his own. After six months, he acquired the entire theatrical rights of Puri Jagannadh and Ram’s Double iSmart. He has paid Rs 49 crores for the theatrical rights of all the languages and the deal is not refundable. Niranjan Reddy is expected to lose close to Rs 40 crores as Double iSmart has been declared as a disaster. In just six months, Niranjan Reddy has lost all the hard earned money of Hanuman for a film he never produced.
This is a huge shock for the young producer who owns several businesses in the USA. Niranjan Reddy is also lining up a number of big-budget projects in Telugu cinema. He has films lined up with Sai Dharam Tej, Nithiin and Sree Vishnu currently. He is also into distribution and the result of Double iSmart is a huge speed breaker for him at this point of time in his career. Hope he bounces back soon with his upcoming films.
