It was last year that Karan Johar announced his decision of Dharma Productions selling its 51% stake to Aadar Poonawalla. The move came as a shock to many since Dharma is touted to be one of the most successful production houses in the film industry. The intent behind Karan's decision was discussed and pondered upon.
And now, in a recent interview, the Dharma honcho has spoken about his decision. Karan revealed that he wanted Dharma to grow, and with their own money, it would have taken them 7-8 years more. But they wanted a fast and exponential growth that they could only get through investor's money.
Why sell the Dharma stakes?
"In 2023, we realised we need to leverage and grow. In our business to grow organically would have taken me another 5-7 years. I needed the fund to grow and today, I am happy with my partnership with Adar. He is an amazing human being and his instincts are very strong. I feel accountable because this is somebody else's money. I need to get success and make my company profitable," he told Raj Shamami on his YouTube podcast.
Good will but not success
Karan further added that while he is the creative mind behind the partnership going forward, Adar is the business mind of it all. Johar also added how his father, Yash Johar, had a lot of goodwill but not success. He revealed that his father had not left a lot of money when he passed away, but it was his goodwill in the industry that helped him survive and thrive.
"Kuch Kuch Hota Hai's release in 1998 marked the beginning of Dharma Productions as a strong company. What I had was my father's goodwill and his tremendous belief. He had tremendous goodwill, he was loved a lot but he didn't see success," he mentioned.
