Mumbai, Adar Poonawala is buying 50% stake in Karan Johar's Dharma production, the deal is worth crores, know the details A big news has come out regarding Johar's Dharma production.
Adar Poonawalla, CEO of vaccine manufacturing giant Serum Institute of India, is buying a 50% stake in Dharma Productions. Poonawala This share is Rs. Buying for 1000 crores.
In this deal, Karan Johar's film and television production and distribution company Dharma Productions has been valued at around Rs 2,000 crore. Serum Institute boss Adar Poonawala is doing it in his personal capacity through Sirin Productions. The rest will be held by Dharma Productions. Karan Johar will lead the company as executive chairman.
Also, Apoorva Mehta will also be the chief executive officer of the company. Karan Johar has 90.7% stake in Dharma Productions. While his mother Hero Johar has 9.24% share in the company. Dharma Productions had been looking for investment for some time now.
Dharma Productions was in talks with several big companies and entrepreneurs including Sanjeev Goenka's Saregama. News of talks with Reliance Industries and Jio Cinemas also surfaced.
In FY 2023, Dharma Productions revenue has jumped almost 4 times. In the financial year 2023, the revenue of the company has been Rs 1,040 crore. In the previous year, the revenue of Dharma Productions was Rs 276 crore.
However, the company's net profit fell by 59% to Rs. 11 crore has been made. This decline in net profit is due to a 4.5 times jump in Dharma production costs.
The cost of the company has been Rs 1,028 crore. In FY 2023, the company will receive Rs. Earned 656 crores. While Rs 140 crore was earned from digital rights, Rs 83 crore from satellite rights and Rs 75 crore from music.SS1MS