Since Bollywood Hungama’s viral story that Vashu Bhagnani sold his seven-storey office in Juhu, Mumbai to pay back Rs. 250 crore debt, Pooja Entertainment has remained in the news. The article added that 80% of his staff had been cut-off right after series of failures at the box office. However, Vashu Bhagnani denied these reports. It didn’t take long before it was reported that several crew members who had worked on some of his most recent releases such as Bade Miyan Chote Miyan, Ganapath and Mission Raniganj have not yet received a pay check for their laborious efforts. Additionally, no actor from Bade Miyan Chote Miyan has so far been paid for playing the lead role.
REVEALED: Pooja Entertainment makes Rs.8 crore profit as its revenue reaches to Rs.58.07 crore by FY24
Yet another piece of information about the financials of Pooja Entertainment was revealed by The Parami News today, July 2nd. As per their report, the company’s consolidated revenue in the financial year 2023-24 stood at Rs.58.07 crores while their consolidated profit in the same financial year amounted to approximately Rs.8crores. In previous fiscal year they brought revenues of Rs 46.6 crores and profits worth Rs 2.86 crores respectively.
The last six trading sessions saw stocks of Pooja entertainment crashing nearly 36%, according to The Parami News report; settling at Rs 298.85 which is down by 5% on Monday and this markedthe lowest tradable limit within the trading session. The shares of Vashu Bhagnani Industries almost doubled in less than one month from May 24th when they were valued at just only Rs 209 till when Bollywood Hungama broke this story and they reached Rs 410. It has also been said that the wild swings in the price of shares have raised eyebrows on Dalal Street, which is home toBombay Stock Exchange.
By this time, Akshay Kumar had already approached Jackky Bhagnani through a press release requesting him to withhold his payment until all the crew members had their remunerations paid.
