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Will Nimmagadda Prasad Continue Making Movies?

Will Nimmagadda Prasad Continue Making Movies?

Cash Rich entrepreneur Nimmagadda Prasad had put many hopes on his maiden production “Nirmala Convent”. He produced the movie with Nagarjuna and the film did exceptional pre-release business and brought him Rs 5 Cr profit. But the movie flopped miserably.

It sank without a trace in AP and Telangana as well as in overseas markets. Both Nimmagadda and Nagarjuna may now have repay the distributors as the distributors are going to lose more than 80 percent of their investment.

There is gentleman’s agreement in the movie industry that if the distributor loses more than 30 percent of investment, producer ought to compensate the distributor.

For Nimmagadda whose net worth of assets is in thousands of crores of rupees, repaying the amount is not a big deal but he is reportedly disappointed with such bad talk from audiences and critics.

He did conduct the premiere at PVR RK Mall in Banjara Hills in Hyderabad in big way and invited all his high profile friends to the premiere show and they reportedly told him on his face why did he make a “children’s love story”.

Now speculations are rife that he may not produce movies further. But he has already taken a huge office in Banjara Hills with good number of staff to produce many movies in corporate style. Let’s see what would be his decision now.

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Tags: Nagarjuna Nimmagadda Prasad Nirmala Convent