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Thursday, January 08, 2015
Money Matters: Is PVP Tollywood's 'Big' Financier?
07-Jan-2015: Name one man or company who is the biggest financier in Tollywood right now and it is no longer Rangaiah or Sobhan or Alankar Prasad or Suresh or Aravind. They were big financiers at one point, but not any more.
One name that tops the list now is that of PVP Ventures Ltd. The hot rumour in industry is that the organization is financing almost all the big films slated for release in 2015.
Baahubali, Rudramadevi, Temper, Pataas are just a few names to begin with.
Makers of Temper are said to have borrowed Rs.22 crores to Rs 30 crores from PVP.
Similarly, PVP has loaned Rs.20 crores to Pataas it is being said. Meanwhile, talk in tinsel ville is that producer-director Gunasekhar has taken a huge amount from PVP after depositing the papers of his immovable properties with them. Incidentally, the film is also said to have been funded by another big financier too.
On the other hand, Kalyan Ram and other producers of Pataas are said to be paying Rs 3 interest rate for the amount they had borrowed. Since all of Kalyan Ram’s films were flops, they were forced to approach PVP for finance. However, as the production got delayed, they are now forced to pay a lot of money as interest rate.
Despite all these troubles, producers are not shying away from production as they are used to the business and cannot overcome their love of making films.
Now if anyone thought, this would result in the film financiers laughing their way to the banks, then they are surely living in the la la land. They have their share of problems as they are in a tight spot till the loan is cleared. And if any untoward incident happens and the film’s release gets postponed or stalled, then this leads to a never-ending loop of problems for both parties involved.
In fact, according to reliable sources, a big financier who got entangled with YVS Choudhary’s Rey, had to cut down on his business considerably after Rey’s release was stalled.
If the loans can be recollected smoothly, then it is a totally win-win situation for both parties. But if it means court cases and check bounces, then it could take years.
Due to such unavoidable problems, many film financiers have totally cut down on their business in recent years. While some still continue to loan smaller amounts between Rs 1 crore and Rs 5 crores, no one is willing to loan anything beyond Rs 10 crores.
So, PVP is now filling this big lacuna by doling out huge loans to heavy-budget projects. After all, it is filmi magic and no one caught up in the world of glitz and glamour, has ever come out.