Karan Johar sold 50% Dharma Productions to Adar Poonawalla, and now, he admits the deal forces him to chase profit and makes making artistic films like ‘Homebound’ much harder.
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The days of simply following a creative vision are changing for Bollywood giant Karan Johar. The director-producer, whose banner Dharma Productions has given us everything from family blockbusters to smaller, critically acclaimed gems like ‘Homebound’, has admitted he’s now facing a new reality: the bottom line is all that matters.
In a candid chat on Komal Nahta’s YouTube show, Game Changers, Johar opened up about the massive decision last year to sell a 50% stake in Dharma Productions to billionaire Adar Poonawalla. The deal, valued at a huge Rs 1000 crore, means half of the company is now owned by Poonawalla’s Serene Productions, with Johar and CEO Apoorva Mehta holding the rest.
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Karan, who is 53, revealed the tough choice was all about growth and expansion. “I had so many dreams that I couldn’t make happen because I just didn’t have enough money,” he confessed. “I was totally fine with selling half the company, but only because I want to grow, I want to leave many great things behind within Dharma.”
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He and his long-time business partner, Apoorva Mehta, who Johar calls “like a brother,” decided they needed the right financial backer. Serendipitously, the right person turned out to be a good friend. Adar Poonawalla called Karan one day to express his interest. Karan remembers telling him, “But this isn’t your type of business!”
However, Poonawalla was keen on expanding his own business horizons, too.
Now, with a business partner, things are suddenly very different. Karan admitted it’s been a steep learning curve to think about “profitability.”
“Before this, there was never any real accountability,” he said. “I only just learned the word ‘quarter’!”
He explained that before the deal, he often made films purely for “creative satisfaction” or to try new things in cinema; movies that might not have been big box office hits but are still remembered as classics. He specifically mentioned his critically acclaimed, globe-trotting project, ‘Homebound’.
But with new investment comes new rules. “Every deal has its upsides and its responsibilities,” Karan noted. He confessed his partner, Apoorva Mehta, now keeps him strictly in check, often saying, “Not profitable, don’t do it.”
The filmmaker’s new mantra is clear: “You have to make every decision with profitability in mind. We are a commercial company, and it’s really important to be profitable.”
Karan ended by sharing a bittersweet feeling about the shift. While he loves films like ‘Homebound’ that earned praise all over the world, he isn’t sure if he’d make the same choices today. “I will feel upset about it,” he said, “but I chose this deal for a reason: growth. And growth comes from profit.”
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