Madhur Bhandarkar (left) and Shailendra Singh announce the joint venture

Mumbai, July 31: Film director Madhur Bhandarkar has announced a joint venture with Percept Picture Company involving an investment of Rs 150 crore.

Together, they will make feature films, television serials, ad films, plays and related content under the banner of the joint venture company, Madhur Bhandarkar Motion Pictures Ltd.

“Percept Picture Company has consistently demonstrated its ability to identify and market winning ideas. I am delighted to share my experience with PPC and am confident that this joint venture will create path-breaking cinema,” said Bhandarkar, whose films include Chandni Bar, Page 3 and Corporate.

The two sides have their areas of operation clearly marked out. While Percept will use its management expertise to operate the joint venture company, the director will execute the production of the feature films.

The joint venture will identify scripts and produce feature films that will be either exclusively directed by Bhandarkar or will be directed under his creative supervision.

Shailendra Singh, joint managing director, Percept Holdings, said: “The joint venture with Madhur Bhandarkar is another first for PPC. Our recent history of successes has inspired us to formalise the joint venture. We are confident that the joint venture would grow from strength to strength and reach its goal of offering the finest in entertainment to the Indian audiences.”

Mahesh Ramanathan, COO, Percept, said: “The joint venture is a milestone in Percept Picture Company’s history. With back-to-back hits, Madhur Bhandarkar has established himself as one of India’s most talented directors.

“His national award winning films stand testimony to the fact that Madhur Bhandarkar’s brand of cinema epitomises the realities of an average Indian’s life. PPC is proud to share a part of our destiny with Madhur Bhandarkar.”

Percept has produced films like Makdee, Phir Milenge, Pyar Mein Twist, Hanuman, Home Delivery, Malamaal Weekly and Bhandarkar’s Corporate. It is also producing his forthcoming film Signal which stars Kunal Khemmu.

This is the first such joint venture in Bollywood.