Saregama to invest Rs 300 mn in film production

    MUMBAI: Audio company Saregama India is now stepping up on movie production. The company has already signed five – six directors and work has commenced on the scripts and stories of these films.

    Saregama India has allocated Rs 250 – 300 million (Rs 25 – 30 crores) for production over the next six months, which does not include the budget of individual films.

    Currently all the films are in various stages of planning and will go on floors by mid next year onwards.

    Confirming the development to, Saregama chief creative officer B R Sharan says, “Saregama is looking at producing medium and high budget films. For the next six months we have allocated a budget of Rs 250 – 300 million for movie production. We have signed few directors with whom we will start shooting after mid next year and are eyeing releases in 2009. Apart from this, our ready films Karma Confessions and Holi and Khailla will release February 2008 onwards.”
    The directors signed up with the company include David Dhawan, Apoorva Lakhia, Onir, Milan Luthria, Aparna Sen and Rituparno Ghosh. Saregama has also bought the rights of M J Akbar’s book Blood Brothers, which has released in 16 languages across the world.

    Lakhia’s film will go on floors by 2008 end, after he wraps up Mission Istanbul and his movie with Balaji Motion Pictures, whereas Onir’s will go on floors by June.

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